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 […]
Big Lots Waving A Bull Flag
Closeout retailer Big Lots Inc (BIG) has seen its share of volatility over the past eighteen months. Between a 60% plus rally from August 2011 to April 2012 and a big sell-off highlighted by two big gap downs, the stock was not for the faint-hearted. Despite the volatility, the stock shows off plenty of positive […]
Updated Look At Google Chart
Technology and search engine giant Google Inc. (GOOG), while year to date outperforming the broader U.S. stock market has diverged from the broader indices since the beginning of March. On March 5th I discussed here ( http://investorplace.com/2013/03/google-is-building-another-head-of-steam/ ) that the stock was ready to move higher still into the $850 area. Since then we got […]
Advance Auto Parts Ready To Break Out
Auto parts and accessories retailer Advance Auto Parts Inc (AAP) is rallying along with the broader market thus far this year, higher by close to 11%. Unlike the S&P 5oo which is looking increasingly extended in the intermediate term, the chart of this auto parts retailer suggest the stock is ready to rally further. Looking […]