Another Technical Look At The Russell 2000
The most recent stock market rally that started on May 25th continued in full force yesterday, Tuesday May 31st. While end of month forces may have been at work, it speaks positive nontheless. The major U.S. equity indices closed at the highs of the day and as such overcame a good amount of technical resistance […]
Right Here Right This Minute: S&P 500 Key Area
Note the key area the S&P 500 (and the other major U.S. indices for that matter snuck to this morning. It's hold or fold time here if you ask us. A bounce will become obvious if it happens and at that time we will look to names like Apple (AAPL) and VMware (VMW) on the […]
Watching Apple (AAPL) At A Crucial Level
Apple (AAPL) doesn't need much introduction so I will skip that part of the analysis. And exactly because everybody knows the company, follows it, and it carries a 1.9% weighting in the S&P 500 it is worth watching closely. Case in point, yesterday's announcement that Steve Jobs will hold the keynote address at the upcoming […]
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BJ’s Wholesale Club (BJ), Beauty Of A Chart Breakout
We are looking at BJ as a potential bucket 2 long trade for next week. The chart speaks for itself. A private equity firm is said to be bidding for BJ ($3 billion plus), so take that into consideration. More on this tomorrow.
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Amazon.com (AMZN) Chart Breakout
AMZN has been a rocket ship after announcing earnings last week. Most notably it broke above the key resistance area of $192 on good volume. We are expecting a little consolidation here before the stock heads to higher levels.
Technology Sector (XLB) Almost At New Highs
If you measure the technology sector by the popular SPDR ETF called the XLB, the sector is not only 25 cents away from new 2011 highs, but also from fresh 3.5 year highs. From a technical analysis perspective the inverted head and shoulders pattern (see white bubbles on chart) is working out well and if […]
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MCMoran Exploration (MMR) Potential Long
MMR has been holding up well and after consolidating some over the past few days looks to have found solid footing to move higher. If the stock can hold above $18.40 I will add to my longs and move the stop to $17.50 with a target near $20.