In the last three weeks shares of Cummins International (CMI) fell more than 10%, closing out last week near their lows and on the 40 week (roughly 200 day) moving average. Caterpillar (CAT) held up well during this same period and traded in a narrow range just above the $135 level. The correlation coefficient graph… Read More »
Several names in the casual dining space are breaking out of extended basing periods and look like they are headed higher. BJ’s Restaurants (BJRI) retested and held its 50 day moving average two weeks ago, and then last week gapped up through horizontal resistance in the $32 area. It built on that initial gain and… Read More »
(This post is a follow-up to an earlier Apple post.) Someone did not want Apple (APPL) shares to close out the week on their lows. The stock was bought aggressively in the last ten minutes of trading on Friday, quickly altering the appearance of the weekly candle. Instead of a large bearish looking dark filled… Read More »
The good news is that Tesla (TSLA) shares are up a percent at this point in the session; the bad news is they had been as high as 4.5% shortly after the open. They could reverse once again and close higher on the day, but it is a familiar pattern. The initial enthusiasm about a… Read More »
Shares of Apple (AAPL) have been losing their post-earnings positive momentum this week, and are fading back below the top end of their rising channel uptrend line. There is little in the way of visible support within the channel parameters at this point, until the 50 day moving average near the lower end of the… Read More »
The iShares MSCI Emerging Markets ETF (EEM) is up over 30% this year. It has been a straightforward run higher above a rising 50 day moving average. That average is being tested again, along with horizontal support in the $45.50 area, and this time the test may be more severe. The MacD momentum oscillator has… Read More »
5 ways to diversify away from tech from CNBC. > The following is a synopsis of Tuesday’s “Off the Charts” segment on Mad Money, by Tom Bemis of TheStreet.com: With the market’s remarkable run over the past year, Jim Cramer told his Mad Money viewers Tuesday, it’s time to start asking if any of the… Read More »
A good way to monitor the intermediate term direction of long term interest rates has been to follow trend line breaks on the weekly chart of the iShares 20+ Year Treasury Bond ETF (TLT). It has been a simple technical technique to monitor a complex fundamental dynamic. Simple is good.