Fast Money’s Dan Nathan and his take on the Twitter (TWTR) chart.
Famed market technician, Tom DeMark says a market reversal is imminent: “We’ve been confident the last three weeks we would not break 20,000,” DeMark said in an interview on Bloomberg Television. “I assume there’s a possibility intraday we could, but it’s so unanimous, it’s almost as if the election were being replayed within the market. Everyone’s confident the market’s going to break 20,000. If it does break, it may go quite a bit higher. But I don’t think it’s going to happen.”
Video from TheStreet.com this morning:
Discussing the VIX’s lowest level since August 5, 2015 and what it means for the options market with “Fast Money” trader Dan Nathan.
A shroud of bearish engulfing candles fell over the broad market in Wednesday’s session, dampening the holiday spirit and diming the hopes of Dow 20,000 by year’s end. The pattern was pervasive and affected the best performing stocks as well as some of the laggards. Here’s a look at the charts, as published on TheStreet.com this morning.
The stock market rally continues into the final week of trading this year, but the longer this advance off the November low continues, and the more overbought the major indices become, the more the opportunity for greater profits shifts to the short side. Check out my take on the charts of Ross Stores (ROST), Parametric Technology (PTC), and United Parcel Service (UPS) published this morning on TheStreet.com.
Tonight on Mad Money Jim Cramer went “Off the Charts” with the help of Tim Collins, a technician and colleague at RealMoney.com, to compare the high flying stocks of Broadcom Limited (AVGO) and Teck Resources (TECK).
Nike NKE shares have pulled back to a key Fibonacci retracement level and the price momentum and money flow indications are suggesting the stock is ready to rally ahead of its December 20th earnings report. Check out my article published on TheStreet this morning.
…and here’s an interesting video about the company:
Jim Cramer spoke with technician Bob Lang about his technical take on the teen retailers on tonight’s “Off the Charts” segment of Mad Money.