Dow Lower Three Consecutive Days. Open The Parachutes?
After four consecutive down days for the Dow Jones Transportation Index and three consecutive down days for the Dow Jones Industrial Average, are things about to fall off a cliff? While the bears continue to point to negative divergences across market internals (NYSE 52 week highs peaked in May) and momentum (oscillators are not confirming […]
KLA-Tencor Readying A Breakout
With last Friday’s strong close to the week (which did however come on notably weak volume), several groups of stocks are looking decidedly more bullish than bearish again for the near-term. The semiconductors as measured by the Semiconductors ETF (SMH) is one such group showing good strength. The group is higher by roughly 5.50% over […]
Apple: Positive Posture But Immediate-Term Overbought
On April 25th I opined here: http://investorplace.com/2013/04/apples-chart-still-has-no-pep-in-its-step/ that Apple Inc. (AAPL) remains trading in a rather lackluster fashion. I further stated that for me to get interested in the long-side of the stock again it would have to trade above its 50 day simple moving average, which at the time came in around the 430 […]
Market Outlook Tuesday April 9
Monday’s low volume bounce in the broader U.S. equity market doesn’t offer all that much to analyze in and of itself, yet bearish clues from across the pond are worth making note of. On both sides of the pond, to a good extent investors are now waiting for corporate earnings season for the first […]
Capital One Readying A Breakout
Diversified bank Capital one Financial Corp (COF), unlike the broader market is trading in negative territory year to date. Two of its closer competitors however, Visa Inc (V), and Mastercard Inc (MA) are all posting solid gains for the year and recently staged additional near-term breakouts. While the under-performance of Capital one Financial Corp (COF) may […]
Watch The Utilities For When The Market Rally May End
The utility sector of the S&P 500 rose off the early 2009 lows much along with the rest of the market. Relatively speaking however the sector has underperformed and now is approaching a critical level just when the S&P 500 is within arm’s reach of its all-time highs set back in October 2007. The chart […]
AAPL Heading To $480
Apple Inc. (AAPL) continues to shape the tape somewhat each day and plenty of investors with a cost-basis above $650 abide by the hope and pray strategy for the stock to go higher. For a little more clarity using the more proven technique of technical analysis, let’s look at a few charts. When it comes […]
AES Corporation Looking Lower
Electricity generation company AES Corporation (AES) has been trading in a narrowing, albeit wide, trading range since 2009. The stock rose sharply off the 2009 lows and despite trading 8% below the August highs, remains up more than 120% since 2009. The stock has also been a relative outperformer versus its sector; the SPDR Utilities […]
Home Builder Stocks Continue To Struggle
Home builder stocks continue to struggle while adapting to this higher yield environment. For a little perspective I drew the below chart, where I plotted the SPDR Homebuilders ETF (XHB) versus the yield on 10 year US Treasury Notes. Since the home builders topped in May, the XHB is roughly nine percent lower and treasury […]
S&P 500 and Dow Industrials – Staying The Trend Until It Ends
With last Friday’s better than expected U.S. jobs report both U.S. and European headline stock indices broke key resistance areas. With the S&P 500 above 1600 and the Dow Jones Industrial Average near the 15,000 mark, what’s next for the broader tape? The 2013 rally has frustrated many a bear, yet from a trader’s point […]