I think it's interesting to note that the Pound bounced off its two year trend after a sell-off.
In the short term (since early may), it appears to be forming an inverse head and shoulders. However, this will need some more time to pan out.
Browsing the financial new sections, one company name keeps standing out to me. AT&T.
I have taken note of a few key factors. First, their acquisition of Time Warner caught my eye. Second, they have a modest P/E of 11.46x, and a current EPS of 2.771. Aside from the ratios, the company generates strong operating margins and huge free cash flows.
The price has...
MACD indicating divergence from the price's direction... this rally is running out of steam. Earnings beginning next week may have a role in the reversal. I've marked out some tested support levels it could return to.
Nasdaq 100 index is showing divergence between the MACD and the Price direction. This with a complicated earnings season coming this week should prove interesting. Close out of your longs... the rally is over!
From this analysis, the long term market trend appears bearish. The yellow trends looks curiously similar to a "head and shoulders" technical pattern.
Looking shorter-term, am expect fluctuations between the purple support and the 200-day MA.
Further, it appears that bearish divergence is forming between the MACD and the Stochastic oscillators, indicating...
As the historical worst month in equities fast approaches, it may be time to consider hedging a portfolio with a commodity. Based on the near-term trend illustrated in the chart, combined with a rising MACD I believe GLD should be considered as an addition to a portfolio that may allow you to isolate yourself from a sell-off in the equity market.
