Facebook (FB) Support

Facebook (FB) Support

Shares of Facebook (FB) broke through their 50 day moving average in March and have since traded in a range between $64.00 and $55.00. Channel resistance is just below the 50 day moving average and channel support is being reinforced…

Distribution Motivating this Market?

Distribution Motivating this Market?

The well-choreographed and broad based reversal on Monday came at a point in time and price when the major indices were testing key moving averages and a number of high profile stocks were at or near important levels of support….

Social Media ETF

Social Media ETF

The social media space has seen serious declines this year, as reflected on the Global X Social Media Index Fund (ETF) weekly chart. It nearly doubled in price from its 2012 low to its high in March of this year…

Weekly Shooting Stars

Weekly Shooting Stars

Another series of shooting star candles formed on the weekly index charts similar to those seen three weeks ago. At that time the Russell 2000 and the Nasdaq Composite were testing their 50 day moving averages, this set of stars…

CTB - Squeeze Play Breakout

CTB – Squeeze Play Breakout

One of the definitions of a stock that is being “squeezed” is when Bollinger Band range, which measures standard deviation around a simple moving average, falls within the Keltner Channel, which is a measure of average true range around an…

Volume Matters

Volume Matters

In the first half of the month the SPY declined to a 50% retracement of the February low and the April high. The second half bounce that is underway recaptured the 50 dma and is threatening to make new highs….

NAZ - Volume Today?

NAZ – Volume Today?

NAZ futures are higher on the Facebook (FB) and Apple (AAPL) reports and should further the advance in the index. Volume, however, has not complimented the seven day rally. The graph at the bottom of the chart shows the percent…

UPS - Squeeze Breakout

UPS – Squeeze Breakout

Shares of United Parcel Service (UPS) have been squeezed within a narrow Bollinger band range for nearly two months, and today look like they are breaking out to the upside. The price momentum indicators and on balance volume are moving…

APPL - Trading Inside the Lines

APPL – Trading Inside the Lines

Apple (AAPL) has been trading within a series of Fibonacci retracement lines for over a year. The 2012/2013 decline in the stock price ended in the area of a 50% retracement of the 2009 low and 2012 high, and the…

Broad Market Overview

Broad Market Overview

A good way to get started here on the site is to present a baseline overview of the broader market using multiple timeframes. The monthly chart of the S&P 500 index shows a series of cycle highs and cycle lows….