Semis Breaking Out of Channel

Semis Breaking Out of Channel

Market Vectors Semiconductor (SMH) shares are up 8% this month after bouncing off the bottom end of a three month consolidation channel. Last week they broke above the upper range of the channel, retested that resistance-turned-support and, at this point…

Europe iShares Rally

Europe iShares Rally

Strong rallies in the Europe iShares funds, which have broken above resistance levels and key moving averages.

Dolar General Triangle Breakout

Dolar General Triangle Breakout

Dollar General (DG) broke above its 50 day moving average this week, and out of a two month triangle pattern consolidation. The pattern target projects to new all-time highs for the stock.

Was This Week's Move to New Highs a False Breakout?

Was This Week’s Move to New Highs a False Breakout?

There is a lot of time left in a potentially volatile trading day, but the December highs look like a key level for the S&P 500 index to hold above into the close. Stochastics and the Money Flow Index, a…

IBM - Poised to Recover?

IBM – Poised to Recover?

Shares of International Business Machines (IBM) have underperformed the broader NASDAQ Composite index by more than 20% over the last year. They did find some support, however, in the $150.00 area in December and January, which is a 38% Fibonacci…

Europe's Drag on US Markets

Europe’s Drag on US Markets

Europe is the drag on our market today.

Exxon -  Probabilistic Nature of Charts

Exxon – Probabilistic Nature of Charts

The daily Exxon Mobil (XOM) chart is thing of beauty. In one pictograph it reveals the probabilistic character of charting and why it is an art form and not a science. The downtrend trend line that formed after the decline…

Twitter Gets its Fill

Twitter Gets its Fill

Twitter (TWTR) shares have broken out of their long term base zone and moved up to close the October gap. Note the strong positive volume bar in Thursday’s session. The volume bars record volume on a day where the close…

Cavium Networks - Head and Shoulders Top

Cavium Networks – Head and Shoulders Top

Cavium Networks (CAVM) is not experiencing the bounce seen in the broader semiconductor space this month. A head and shoulders top has formed on the daily chart with neckline resistance in the $57.00 to $56.00 area. The MacD and RSI…

Eveningstars on SPY 10 and 30 Minute Charts

Eveningstars on SPY 10 and 30 Minute Charts