The Scary Move Of The Swiss National Bank
Yesterday’s move by the Swiss National Bank (SNB) is something everyone should be aware of. Why? Not because it affects everyone whose living costs are in dollars on a personal level but because of what it signals about the global economy. First, what exactly did the SNB do yesterday? The Bank made a incredibly […]
Whole Foods (WFM) Good For Further Upside Longer Term
Whole Foods Market (NASDAQ: WFM) is the leader in organic food retail. The company has around 300 stores in the U.S. and its plans of growing to around 1000 stores are reflected in the growth rate of organic food. Currently organic food is more than 4% of total food sales and over the past […]
Taking First Profits On VMWARE (VMW) Short
Last week I highlighted the extremely bearish day and candle from June 1st in VMW. Read last week's entire analysis here: http://steadytrader.wpengine.com/short-side-opportunity-in-vmware-vmw/ The long tail and intraday failure at a new 52 week high gave us a setup for a high probability short-side opportunity. Fast forward to today, and VMW has followed-through to the downside where […]
Today’s pre-market video is uploaded now. Watch it here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
EUR/USD At A Potentially Important Point
First blog post of the day here for me, so let me make it a quick one. See the chart below…the EUR/USD is at a three year downtrend line (resistance?). I have no bias as to the next price move here but that is not the point anyway…I am much more interested in looking […]
Open Table (OPEN) Defined Risk For A Short
Yesterday I blogged about OPEN's weak price action (http://steadytrader.wpengine.com/short-opportunity-in-open-table-open/). While there is support at the $103 mark, yesterday's sell-off left an ugly looking outside (engulfing candlestick) bar. I am putting this short in bucket 2, specifically with a time-frame of no more than 3 days as I am looking for some follow-through of yesterday's […]
Wells Fargo (WFC) – The Technical Bull Case
WFC along with JPM in my mind are some of the better financials charts out there, at least in comparison to GS and potentially BAC (although BAC is getting at least one leg back up). Let's look at it in two time-frames, weekly charts and daily charts. On the weekly chart below we see a […]
Euro/USD Is Approaching 1.40
Note the quick and steep rally the EUR has staged against the USD over the past three weeks. 1.385 could have served as resistance but the EUR kept rising and is now at 1.40, which should serve as some sort of resistance. Next stop higher would be 1.428, which is the highs from last November. […]
The ‘USO’ Oil ETF Has Major Resistance At $42.30 for Now
The 'USO' Oil ETF has major resistance at $42.30 for now. I am taking some profits here but do believe prices could rise much further after some consolidation. Keep this one front and center as it's likely to move the market for some time.
US Steel (X) Lost It’s Short Term Upside Momentum
As the broader market started pulling back in mid February, X also topped out and has been heading lower ever since. If you remember, There was a nice breakout pattern developing as X jumped above $62. Turns out it was purely technical and as folks noticed that the global economic recovery isn't as strong as […]