Which Way are Energy Prices Headed – What Charts to Watch

Check out the charts of Exxon Mobil (XOM), Van Eck Sectors Oil Services ETF (OIH), and the West Texas Intermediate Crude Continuous Contract (WTIC) for an overview of the broad energy sector, in my article on TheStreet.com this morning.

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Nike is Ready to Rally – Buy the Breakout

February 22, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations, Weekly Charts · Comment 

Nike (NKE) shares have been making a series of lower highs and lower lows since the end of 2015, and the price action has formed a large declining channel. The stock price has recently penetrated the downtrend line of the channel and the pattern price projection targets a potential move back up to the all-time highs. Here’s the full chart analysis published on TheStreet.com this morning.

Whole Foods Double Pattern Breakout

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The stock is breaking out of a channel within a channel, and each pattern projects a move higher. Here’s the story published this morning on TheStreet.com.

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Four Breakout Alert Stocks!

February 16, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations · Comment 

These four stocks have been trading over the intermediate term in well-defined consolidation patterns and are retesting resistance levels. Each stock closed at or near their highs in Tuesday’s session, and the technical indicators suggest they are prepared to break out and move higher. Here’s a link to the article published on TheStreet.com this morning.

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Tesla Races to a Cycle High Blow-Off Top

February 15, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations, Weekly Charts · Comment 

The action in time and price suggests Tesla (TSLA) has made an intermediate-term high. Here’s my take on the chart published this morning on TheStreet.com

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Here’s How to Play Pullback in Alibaba

February 15, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations · Comment 

Shares of Alibaba Group Holdings (BABA) have not participated in the broader market’s four-day rally, and the divergent price action and the direction of money flow suggests further downside. There are two short-side strategies, let’s take a look at the setups, published on TheStreet.com this morning.

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A Rare Three Day Rally in the Russell 2000 Index – and an Ominous Doji

Monday’s close on the Russell 2000 marked a third consecutive higher close for the index. This hasn’t happened since it began forming a horizontal channel consolidation pattern in December last year.
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The bad news is that a gravestone doji formed in the session, a candle with a narrow opening and closing range situated at the lower end of its overall range. A gravestone is often seen at failed new highs. Previous channel highs have been marked by similar bearish formations, like the early channel eveningstar pattern and a series of dark cloud cover candles, all of which prevented more than a two day advance.

Is It Time to Short Disney?

February 9, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations · Comment 

The stock is showing signs of waning momentum and a potential technical breakdown. Here’s the trading setup as published this morning on TheStreet.com.

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Waters Shares Are Heating Up — Buy the Breakout

February 8, 2017 · Posted in Daily Charts, Morning News, Patterns and Formations · Comment 

There is a resistance vacuum overhead and Waters (WAT) shares are ready to move higher. Here’s a look at the chart published on TheStreet.com this morning.

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A New Gold Rally

February 7, 2017 · Posted in Daily Charts, Indices, Morning News, Patterns and Formations · Comment 

A potential breakout pattern and an overhead resistance vacuum, could initiate the second phase of a rally in the precious metal miners. Here’s my technical take published on TheStreet.com this morning.

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