Berkshire Hathaway Breaking Down from Triangle Top?

Berkshire Hathaway Breaking Down from Triangle Top?

There are a number of interesting technical signals on the weekly and daily Berkshire Hathaway (BRK/B) charts. The strong run in the stock over the last three years is evident on the weekly chart but this week it is trading…

Amazon's Potential $100.00 Move

Amazon’s Potential $100.00 Move

I suggested last week that the integrity of the parameters of the descending triangle pattern on the weekly Amazon (AMZN) chart could potentially trigger a $100.00 move in the stock. The stock has broken through triangle resistance today, but confirmation…

Optimistic Look at the Energy Sector

Optimistic Look at the Energy Sector

There is a small bullish MacD divergence on the daily Energy Select Sector SPDR (XLE) chart and with what looks like a higher hammer low in today’s session, hints at a potential a triple bottom scenario. Way early to get…

Microsoft Approaches Support

Microsoft Approaches Support

Microsoft (MSFT) shares are down over 10% after reporting earnings, trading below their 200 day moving average for the first time since March 2013, and approaching last year’s August and October lows. I’m not sure about the long term outlook…

DOW Triangle Pattern

DOW Triangle Pattern

The bad news is the DJIA has been making lower highs since December; the good news is the 17300 area is holding and looking like triple bottom support. A strong move above the downtrend line and follow-through action that makes…

Amazon - $100 Move Ahead?

Amazon – $100 Move Ahead?

Amazon (AMZN) shares have been making lower highs above a horizontal support line since the beginning of the year, forming a large triangle pattern. The support line is the 50% retracement level of the 2012 low and the 2014 high…

European Flame Flickering?

European Flame Flickering?

The rally on Thursday was sparked by the news from the European Central Bank and created a strong white candle on the S&P 500 daily chart. The flame began to flicker in the latter half of the Friday session and…

Apple Triple Bottom?

Apple Triple Bottom?

Apple (AAPL) is retesting the intersection of the downtrend line it has been trading under since early December, and its 50 day moving average. A close above this level reinforces the triple-like bottom on the daily chart.

Emerging Markets Bottoming Out?

Emerging Markets Bottoming Out?

The iShares Emerging Markets (EEM) fund has been attempting to base for the last two months, making a higher low under a static resistance level and forming a cup and handle pattern on the daily chart. Today it broke above…

Short and Intermediate Term Tells for the Broader Market

Short and Intermediate Term Tells for the Broader Market

The short and intermediate term direction of the market may be signaled by areas of support and resistance on these two charts. Movement on the daily chart of the Russell 2000 Index over the past several days has been erratic,…