The stock market indices opened strong today, consolidated early on and then moved higher the rest of the session, closing near the session highs and 2010 highs going away. Net on the day, the Dow was up 103.69 at 11,123.11, the...
Read MoreCome on! You have to sit there shaking your head saying this can’t be happening. When negative divergences exist it’s bad enough. When you throw in the now 80 RSI on the daily charts along with 70+ on the weekly...
Read MoreToday’s strength in Ford (F) has hurdled key near-term resistance at 12.95, which triggered additional buying (short covering too?) that has propelled the stock to an intraday high at 13.30 so far. To the extent that F can...
Read MoreThe stock market indices managed to eek out another gain today with a strong rally after morning losses, closing not far off the session highs and off the 2010 highs. The day started out with a little pop to the upside that...
Read MoreIt’s that time of year again. It’s always that time of year, isn’t it! Seems to feel that way to me. It’s when we look inside the earnings reports of companies that had lowered the bar a few quarters back...
Read MoreWithin the larger Jan-Apr coil pattern that we discussed yesterday in Halliburton (HAL), let’s have a look at the hourly chart from the most recent pivot low (within the coil) at 29.25 from Mar 26. The weight of my...
Read MoreThe stock market indices were marginally higher today, starting the day out with a strong surge to the upside, taking out 2000 on the Nasdaq 100 and reaching 1199.20 on the S&P 500. The indices then backed off to retest...
Read MoreThe one thing we haven’t had up to this point is the weekly charts flashing a red flag. The red flag being RSI’s between 70 and 73 and stochastic’s between 97 and 99. These readings on the Dow, Nasdaq and...
Read MoreRBC upgraded EMC Corp. (NYSE: EMC) this morning, which has helped goose the stock towards a retest of its March high at 19.04, atop an extremely bullish 2 1/4-year base pattern. The pattern projects to considerably higher...
Read MoreThe stock market indices closed the week with a bang, closing up again with the Dow taking out the significant 11,000 level Friday just before the close. Net on the day, the Dow ended up 70.28 to 10,997.35, and the S&P 500...
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