Check of Index Charts

Check of Index Charts

The action in the DOW today was the reverse of what we saw yesterday in the index. The rally off the lows in the Monday session formed a hammer-like candle, or possibly a hanging man candle, and the reversal off…

Hertz Global (HRTZ) Breaks Trendline Support

Hertz Global (HRTZ) Breaks Trendline Support

Last week shares of Hertz Global Holdings (HTZ) broke below a trend line that had been supporting the stock price since the beginning of the year. Positive money flow has been trending lower and the RSI and MacD have moved…

Corning Makes Rounded Top

Corning Makes Rounded Top

A rounded top has formed on the weekly chart of Corning (GLW) with horizontal support at the $19.47 July low. The momentum indicators have rolled over, as has the 10 week (50 day) moving average, which is nearing a “death…

Reader Request: Twitter Chart

Reader Request: Twitter Chart

Linda requested I take a look at the Twitter chart. On the weekly timeframe the stock can be seen breaking above its 10 week (50 day) moving average in June this year, and then moving back up to a 50%…

Multiple Timeframe Check of the Major US Indices

Multiple Timeframe Check of the Major US Indices

The DJIA, S&P 500 index, and the NASDAQ were all able to recapture their 50 day moving averages on Friday and move back above trend line support levels, while the Russell remains well below the intersection of the recent “death…

Polaris Channel Breakout

Polaris Channel Breakout

Shares of Polaris Industries (PII) are breaking out of a tight horizontal channel consolidation. Money flow is strongly positive on the daily and weekly timeframe and the momentum indicators are turning up and above their centerlines.

Tesla Stalling at its 50 DMA

Tesla Stalling at its 50 DMA

Tesla (TSLA) is having trouble recapturing its 50 day moving average. The next level of support is the long term uptrend line on the weekly chart, just above the 200 day moving average.

Amazon Testing Large Wedge Support

Amazon Testing Large Wedge Support

Shares of Amazon have been consolidating in a large wedge or symmetrical triangle pattern for the last six months. I highlighted a test of an internal support line earlier this month which was subsequently broken, setting up the current technical…

Germany and France iShare Funds Back to August Lows

Germany and France iShare Funds Back to August Lows

Yesterday, I posted another look at the major Europe iShares charts. It could be argued they have led the US markets lower in July and again this month, perhaps if they bounce near these lows it will translate to a…

Visa - Large "V" Wedge Breakdown

Visa – Large “V” Wedge Breakdown

Shares of Visa (V) have been trading in a “V” or “>” wedge on their weekly chart for the entire year. The stock has been getting squeezed by any definition of the term and today looks like it is breaking…