Market Outlook April 18
With Tuesday’s Cinderella bounce in stocks, by end of day Tuesday the bullish broker calls started warming up my phone again. Twitter (@steadytrader) however remained quiet,as the truer tape sensed more to come on the downside for stocks. Coming into yesterday, by the time I finished the morning sweat and flipped on all six of […]
Salesforce.com On Slippery Slope
Software firm Salesforce.com Inc (CRM) may ring a bell to many a trend follower. Back in 2009 and 2010 period the stock quickly became a trend followers’ favorite as it hardly could do anything wrong. Finally towards the end of 2010 the stock took its slope vertical with a large gap up, which proved to […]
Market Outlook April 17
As discussed yesterday morning here (http://investorplace.com/2013/04/daily-stock-market-news-carnage-in-gold-and-silver-could-be-a-leading-indicator/) Monday’s rapid sell-off stood a good chance of taking a breather on Tuesday to work off immediate-term oversold readings and wait for more corporate earnings to hit the tape. Just like stocks finished at their absolute lows on Monday, they closed Tuesday at their absolute highs of the day. […]
CME Group Dancing On Thin Support Zone
Since mid 2009 derivatives exchange CME Group Inc (CME) has traded in an orderly sideways fashion, where any rallies and sell-offs over time always reverted to a mean. This is in stark contrast to the stock’s wild times from 2004 to 2008, which saw a massive multi-year rally followed by a crash. So far in […]
Market Outlook April 16
Yesterday morning as I readied for the first big earnings week of Q1, stock futures and of course commodities were flashing red on my iPad. My first thought was that the one-two punch of last week’s premature bid of stocks into earnings season coupled with free-falling commodity prices should have been the tell going into […]
Owens Corning Short-Side Setup
Industrial firm Owens Corning Inc. (OC) staged an important technical breakout in early December that ultimately led to a 25% rally over the course of two months. Not so coincidentally the industrial sector of the S&P 500 also broke out of an important area around the same time in December, which is important for correlation […]
Market Outlook April 15
Despite the fact that last week saw a series of weaker than expected economic data releases, stocks managed to push higher still, closing the week at an all-time if we look toward the S&P 500. While the up-trend remains intact, as I have pointed out throughout last week in this column, traders and investors would […]
Short-Side Opportunity in Macy’s
Last Friday’s action across the broader U.S stock market saw plenty of weak-looking daily closes from individual stocks. Among them were select department stores such as Macy’s, Inc. (M). The stock continues to trade in an orderly up-trending channel if we look to the multi-year chart spanning back to 2009. Along with plenty of other […]
McDonald’s Key Price Level To Overcome
McDonald’s Corp (MCD) continues to rally along with the broader equity markets but seems to have found resistance near the big round $100 mark for the time being. For a little perspective and to evaluate what to do with the stock at current juncture, allow me to flip through some charts. First off, note the […]
Apple Going On Momentum
Since my last take on Apple Inc (Nasdaq: AAPL) on March 14th here ( http://investorplace.com/2013/03/apple-looks-ready-to-pop/ ) the stock has acted as the analysis suggested, which was to move past resistance and pop higher. Now, roughly 6.50% higher and as the stock is inching up towards a next band of resistance let’s review the charts. The […]