Visa…
key resistance mark around $81 broke out of narrowing trading range last earnings announcement 5/5 paid 15c divident on may 18 as discussed previously here:
Visa Getting Its Grove On Today
We've discussed Visa at length over the past few months. Read HERE for example. After running up to a major resistance area at $81 the stock tumbled a quick 5% and found support at a rising 50 day moving average. Visa is now again running up to the $81 area. We are watching […]
Russell 2000 At Crossroads Still
This morning's up-gap open may be enough to rally stocks higher and in specific the SPX to a $1400 area. The Russell 2000 small cap index remains at a critial level: right at the 50 day moving average (yellow line) and at multiple support and resitance trend lines (red lines all over). What we […]
Wells Fargo (WFC) Recovering But No Cigar
As today's trading session slumps along I'm keeping a close eye on the financials on the back of the GS upgrade from JPMorgan. I stated our case for a potential bounce in financials the past two weeks HERE. As we've dabbled on the long side on WFC recently I wanted to point out the […]
Shanghai Index Losing Downside Strength
For the more technically oriented, here's a chart of the Shanghai Index displaying the ADX trending index. A low reading is indicative of a weakening trend. In the case of the Shanghai index, the downside trend in place since April looks to be weakening.
Natural Gas Gaining Steam
Worth pointing out here…natural gas is on the move this morning and breaking out of a long consolidation phase.
Euro Stoxx 50 – Last Chance For Pullback
After last week's rally in risk ended on a positive note in New York on Friday, it continues this morning with the Euro Stoxx 50 up 1.80% as of this writing. Looking at the charts, the Euro Stoxx 50 is now slighly busting above previous support (2850), which this time around should hold as resistance […]
Retailers (RTH) At Important Cusp
Here are the top 10 holdings of the Retail Holders Trust ETF (RTH). Wal-Mart Stores, Inc. Common St WMT 17.76 Home Depot, Inc. (The) Common S HD 13.44 Amazon.com, Inc. AMZN 12.69 Walgreen Co. Common Stock WAG 7.23 Target Corporation Common Stock TGT 6.97 Lowe's Companies, Inc. Common S LOW 6.65 Costco Wholesale Corporation […]
Huge Indecision Area On Major Equity Indices
The Russell 2000 is at the 50 day moving average as well as a horizontal and uptrend resistance area. The S&P 500 has now put in three weekly doji closes in a row….indecision is an understatement. While it can break in either direction at any time, this choppy sideways action can also continue. Our […]
JPMorgan (JPM) Bullish Setup In Progress
On the back of my update on the financials yesterday (read HERE) I am keeping a close eye on JPM. On a relative basis it has remained one of the better acting banks over the past weeks and as such i am looking for leadership there. If you look closely you can see the bullish […]