End of the Month S&P 500 Multiple Timeframe Check

End of the Month S&P 500 Multiple Timeframe Check

Short term: the 5, 10, and 20 day moving averages are trending down, but a bullish morningstar reversal pattern has formed on the daily chart in the area of the August low. Intermediate term: the 50 day moving average is…

Bullish Morningstar Pattern on the S&P Chart

Bullish Morningstar Pattern on the S&P Chart

A bullish morningstar reversal pattern formed on the S&P 500 daily chart. This is a three period candle pattern that consists of a large dark down candle, followed by a narrow opening and closing range doji candle, and completed by…

Exxon Mobil: "Off The Charts"

Exxon Mobil: “Off The Charts”

Thanks to Jim Cramer for the opportunity to go “Off The Charts” on Mad Money last night.

MMM Strength as a Proxy for the DOW

MMM Strength as a Proxy for the DOW

We noted a divergence between the 3M Company (MMM) and the Dow Jones Industrial Average in June and the bearish scenario has played out. Today, however, 3M shares are up over 2.5% and a look at the weekly chart shows…

FANG 50 Day Averages

FANG 50 Day Averages

There may be bullish opportunities over the short term but ultimately for this market to return to trend the FANG stocks, Facebook (FB), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL), have to recapture their 50 day moving averages.

What About a Bounce?

What About a Bounce?

The futures are up this morning and now the questions are: Will there be a bounce? If so, what will be the magnitude and duration of the move? Would a bounce be sold or could it gain momentum and establish…

Index Chart Check

Index Chart Check

The penetration of the triangle uptrend line last week was the trigger that initiated a move in the major averages back down near last month’s “flash” lows; in fact, the Russell 2000 index has dropped below its August low. These…

Germany iShares Leading the S&P 500?

Germany iShares Leading the S&P 500?

The Germany iShares (EWG) and the S&P 500 are generally a well correlated ETF and index. This year, however, the EWG began to roll over even as the S&P continued to move horizontally within a consolidation channel. It appears that…

Amazon Primed for Move Higher

Amazon Primed for Move Higher

Here’s a link to my Amazon article this morning on TheStreet.com.

Facebook Analysis on TheStreet.com

Facebook Analysis on TheStreet.com

This is a link to my Facebook analysis (FB) posted this morning on TheStreet.com.