The financial charts are broadly breaking out to new 6-month highs. Some are breaking out to new annual highs like BB&T (BBT). With the SCTR trying to get above 75, this stock is starting to show leadership. The SCTR is at new 52-week highs, the price hit new 52-week highs this week and the Relative Strength to the $SPX is at new 7 month highs. The volume this week is very solid considering the broad discussion about low trading volumes across the exchanges.
The majority of my articles for the last few weeks on the Don't Ignore This Chart blog have been in the Financial arena. The price action is very strong.
This month, Chartcon 2016 is coming to you via live stream broadcast. Rather than have customers spend all the money to travel to the event, we have arranged for all the technicians to gather in one location and broadcast from there, saving you thousands of dollars. It should be a crazy couple of days with a tight synopsis of the markets from an award winning Technical Analyst crew. You can register for this event for under $200 and have access to the recordings. Chartcon 2016.
For Californians, I will be presenting in person at Golden Gate University in September if you are in the area.
September 20th, 2016 @ 4 PM
Golden Gate University. Rm 3214
536 Mission Street
San Francisco, 94104
Cost: Registration is $10 for MTA members and $20 for non-members
There will be a ChartWatchers article published this weekend. It goes out twice a month. It is free, it has articles from most of our technicians, and usually gives some important clues to new trends. As each author writes about what they think is important that week, it is interesting to see when the authors align on a sector. The situation is unique as the authors are positioned around the globe. This gives a raw cross-section that is not coordinated by an editor-in-chief. ChartWatchers sign up.
Feel free to pass this article on to friends and family. If you would like to receive future articles by email, click on the Yes button below.
Greg Schnell, CMT, MFTA