There may be an extended 5th, but that's not looking to be the case. This is tech analysis only, no fundamentals were taken into account.
Just noticed this... Airlines were in the red today, FedEx looks topped out (gap resistance). IYT threw a doji with what looks like an exhaustion gap. No position yet, but looks to be a good short.
lockheed martin can push dow up bull channel defense rotation
Cups J hook rounding bottom you name it
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I've wanted in UPS for a while but refused to chase the move higher. Now that we're getting some weakness, I'm eyeing this name for a long-term investment. I'll be a buyer on a test of the breakout level/50% retracement at $86.5. Shorter-term, I expect continued weakness, so there's no need to rush in to this one!
Now this week's new Trade Idea of The Week is in CH ROBINSON (CHRW). We decided to enter a bullish position in one of our watchlist stocks, CH ROBINSON. We entered this trade on the long side at $92.94 and we have already made some gains today. This is a great setup that we loved to play called a squeeze. This is where the price consolidates and then starts to...
Trade Thesis: Short Dow Transports The name is showing price weakness as it is wedged between 8 Day and 21 Day Moving average. I will be monitoring this to see how the trend plays out. Confirmations: 1. Lower lows and lower highs on Day chart 2. Lower lows and lower highs on Week chart 3. Below 8 Day EMA 4. Doji indicating price indecision on Week chart ...
AMEX:IYT INDEX:DJY0 AMEX:SPY AMEX:DIA TVC:SPX
It's been about seven sessions since we first issued our real time rating on XLE as bearish, and we still believe there will be opportunity to the downside. Volatility should continue as headline risk prompts uncertainty in the markets. Even if Saudi Arabia did happen to freeze or reduce production, it could not be enough in the long-term to offset production by...
Strong Weekly Englufing Pattern. Additionally, MFI indicates a Bullish Divergence. It is showing continued underlying strength
IYT 139.46 bearish – Potential to test August’s 128.26 low IYT has been consolidating within the wide range between August’s 128.26 low (August 24, 2015) and the recovery high at 149.86 (September 14, 2015). Given the strong bearish momentum, there is potential to see a retest of the 128.26 low near 38.2% of the 70.82/167.80 (October 2011 low/November 2014 high)...
IYT rebounded off 152.03 (April 6, 2015) back above the 154.02/154.02 3-1/2 month range support area to rally to 160.29 (April 23, 2015) before ranging. While the 153.39/154.02 support zone holds dips, there is scope for further upside. A clean break back above the 157.39/158.48 moving average resistance levels would signal return of strength and open 160.29....
IYT has been consolidating within a 5- month falling channel as shown on the weekly chart. While the 155.68 weekly low (April 20, 2015) holds dips, strength back above 157.93 (April 20, 2015 weekly high) would signal a 5-week range break on the upside and trigger further gains towards 165.69 (March 16, 2015 weekly high) near the channel upper bounds. A sustained...