Pre-Market Video Analysis – March 21
http://www.youtube.com/watch?v=sf1e9eAptUQ
Morning Look At The S&P500 Chart
Last Thursday the S&P 500 held right at the breakout level, 50% retracement, and 21 day exponential moving average of $1336. Friday's Doji candle and yesterday's constructive bounce (albeit on low volume) is making this chart look fairly stable again. The best thing about it however is that all we need is one meaningfull selloff […]
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 […]
Vmware (VMW) Is Displaying Weakness Worth Noting
Please note the head and shoulders pattern in VMW. the stock was a rally leader last year and currently sits just on top of the 200 day moving average, which makes a short somewhat more tricky. A meaningful pierce through the 200 dma would make a short more attractive. More importantly however to note […]
Gold (GLD) Breakout
The GLD broke above $141 this morning, triggering a buy signal on our end. On the weekly chart below note the steady upward movement over the past few months (and obviously years as well) with nice consolidation periods here and there. On the daily chart note the consolidation pattern that started early March and […]
Research In Motion (RIMM) Head & Shoulders Playing-Out
As discussed early morning today in the pre-market morning video (http://steadytrader.wpengine.com/video-2/march/), RIMM is in the progress of playing out a classic head & shoulders pattern. See chart below. The target is just north of $51. Several things make this head & shoulders pattern nice in RIMM. Note the consolidation period around the 200 day moving […]
Apple (AAPL) Is Setting Up For A Long and A Short Trade
Apple (AAPL) has been making lower highs and lower lows over the past six weeks or so, as noted on the daily chart below. Why is this important? AAPL is one of the most widely held stocks and as such one of the most widely followed companies. Its stock price for the past few years […]
A Look At Silver After Last Night’s Crash
Last night silver futures fell as low as $42.20, about a 10% sell-off. As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day. See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]
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 […]
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.