A combination of lukewarm earnings for Q1 and talks of an impending Federal Reserve interest rate hike seem to be slowing down the bullish recovery we've seen in the S&P the past several weeks. On the technical side, notice the failure to attain a new high. In fact SPY has consistently been unable to break new highs going back to May 2015, when the bear market...
Despite my overall bearish outlook on stocks, Gilead Sciences stands out as the 'Little Engine that Could' in the sense that it keeps chugging along despite being battered by the broader index just after earnings came out late January. On the fundamental side, most analysts think it's way underweight citing that it should be worth as much as 66% more as per the...
Data from the U.S. has improved by the barest of margins. The New York Fed Consumer Survey finds inflation expectations rising (by less than 1%) above expectations, and the ECB rate cut means lots of free cash to play with. Keep in mind we have the FOMC meeting coming up and their decisions will determine the direction of the markets for the near term. ...
As of March 3rd, Gilead earned a 'buy' rating from Citigroup as verified by the link. It is true that GILD should have performed better after earnings as has been historically demonstrated, but it took a beating with the overall index but failed to share in the rebound. Personally, I think this is a good thing, for you'll note from my previous post here ...
There's been a massive short covering rally of near historic proportions in oil recently. As the OPEC circus continues to 'cry wolf' regarding freezing production, the market, once overwhelmingly short on the commodity, takes the opportunity to cash out some of its short positions. There is really no fundamental reason for oil to rally so hard as the attached...
With the tsunami of data this week, it was really hard to sieve out anything stellar. At best, we had employment data that was above expectation on Wednesday, as well as a moderately improved ISM manufacturing index. PMI and Factory Orders left much to be desired. Central Bankers all over the world are scratching their heads and trying in futility to save face...
Yesterday, Janet Yellen of the Federal Reserve spoke confirming expectations that the Fed would sit tight on interest rates. She even admitted today that the Fed is considering negative interest rates. Her ominous tone did not bode well for the markets as evinced by the abysmal market opening today here in the US. In fact, the world's markets are rearing from...
Any hopes for a recovery this week were quashed by today's open and marked declines henceforth. There really doesn't seem to be any indication of a turnaround, unless some good data comes out this week, and there is quite a bit to anticipate. As the attached article notes, analysts are cutting their expectations for the S&P, and it would be good advice to any...
From political instability to ineffectual QE, bullish news for the Euro is scant. We can look for more confirmation from Draghi to this effect soon to come. As far as the technicals are concerned, we have a very strong bearish head and shoulders pattern forming on the weekly chart. There is massive resistance from above via the ichimoku cloud which will make a...
Unfortunately for NFLX on the fundamentals side, they were ousted from Indonesia, which was a prime target for their international expansion endeavors, due to a failure to fulfill their censorship standards. Unfortunately for them, this simply adds to the list of bearish technical indicators despite 'buy' ratings from numerous sources. First, note the bearish...
When Apple was using the Power PC line of processors in their computers, I was extremely skeptical of them. Their operating systems prior to OS X were abysmal. They crashed all the time, and the availability of software for anything I wanted to do was scant. Then they started rolling out Intel processors, and updated OS, and a slew of performance upgrades and I...
Over the last few hours Gold has had a higher low of $1182.97 since the low of the day at $1182.08.The hammer at the bottom a few hours ago marked the low today. The Aroon down has come off its high and the Aroon up has come off its low. The Stochastic indicator is about to give a buy signal on an hourly chart. I'm long GLD July Week 2 113 calls that I bought...
FB has hit resistance at $83. Three times was not a charm for $FB as it could not close above $83. The daily stochastic indicates a sell today. My favorite indicator at present is the Aroon up, I use it to indicate tops in FB when it hit 100. It did hit 100 on Thursday and went lower on Friday. When it hits 0 in about 15 days, I expect FB to between $74 and $77....
As far as I'm concerned the perfect buy and sell indicator is the Aroon up indicator. Sell Facebook when the Aroon up hit 100 and buy when the Aroon up hits 0. It gave a sell on last Thursday at 100. If you look at the daily chart here you will notice that the Aroon up gave a sell also at about the same price on 6/4. It hasn't given a buy signal so a short remains...
An inverted head and shoulders pattern is evident on a 1 hour chart. Neckline is at $1183.39, shoulders at $1181 and head at $1176-1177. RSI has been making higher lows on a weekly chart and daily chart. Daily RSI bottomed at 25.4 on 3/17/15 and at 36.5 on 6/5/15. Stochastic also indicates a buy on 1, 2, 3 and 4 hr chart. Aroon indicated a buy on 6/5 on a daily...
Checking the current likelihood if the uptrend started at the end of May 2014 will reverse in the 2-day chart with several indicators, among those are the: - Directional Movement Index (DMI) developed by Welles Wilder - Aroon oscillator developed by Tushar Chande It seems most of the selected indicators confirm a overall bullish trend in this longer time-frame.
My first time doing a script! Aroon Oscillator is difference between Arron Up and Aroon Down. Aroon Oscillator makes it easier to see which of the two indicators are stronger. Normally Aroon is plotted with the two distinct lines. This indicator fluctuates between -100 and +100 with 0 as the mid line. When oscillator is positive there tends to be upward trend...