Don't Ignore This Chart!

November 2017

Don't Ignore This Chart!

Delta Air Lines Reverses with Outside Reversal Day

by Arthur Hill

Airline stocks are moving higher again with solid gains across the board over the last two weeks. The PerfChart below shows the performance for the Airline ETF (JETS) and seven other airline stocks since mid November... Read More 

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Cybersecurity ETF (CIBR) Breaks Out To New Highs

by Greg Schnell

The cybersecurity ETF (CIBR) broke out to new highs late last week. The chart shows a couple of downtrends also breaking. In this vertical market where everything is up, a stock that consolidates sideways for any length of time looks pretty weak... Read More 

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KLA-Tencor Traces out Two Continuation Patterns

by Arthur Hill

KLA-Tencor (KLAC), a semiconductor equipment and materials designer and manufacturer, is in a long-term uptrend with large and small bullish continuation patterns working. The chart shows 52-week highs in May and October so the long-term trend is clearly up... Read More 

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BHP Pauses At Resistance

by Greg Schnell

BHP Billiton (BHP) is pausing at resistance after a 30% run from July to September. The stock has a definite primary up trend going. The SCTR in the top panel shows the trend is improving for relative strength. The volume this week was very low with the market closed for 1... Read More 

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Timken Surges off Rising 200-day SMA

by Arthur Hill

Timken (TKR), a mid-cap industrial, looks like it is resuming its bigger uptrend with a surge off the 200-day SMA. The chart below shows the stock hitting 52-week highs in April and October. The October high formed after a channel breakout and 25% advance... Read More 

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MGM Tries To Breakout Again

by Greg Schnell

The gambling stocks have performed well over the last few years. MGM has traded sideways while WYNN has continued to climb. The consolidation looks constructive as MGM tries to breakout again... Read More 

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TJX Companies Reverses with Big Spinning Top

by Arthur Hill

Retail stocks surged last week and discounter TJX Companies ($TJX) bounced off support with high volume. Technically, the big trend is still down because the 50-day EMA is below the 200-day EMA and TJX is below the 200-day EMA... Read More 

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Nike, Skechers Lead Rally In Footwear Stocks

by Tom Bowley

Skechers (SKX) rallied approximately 40% after its most recent quarterly earnings report and Nike (NKE) has gone from 2017 lows to nearly a 2017 high in the past five weeks, highlighting a significant rally in the Dow Jones U.S. Footwear Index ($DJUSFT). The DJUSFT rallied 3... Read More 

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Fox (FOXA) Pounces On Six Month Highs

by Greg Schnell

21st Century Fox (FOXA) has been creating the news the last few weeks with merger, acquisitions, and parts spinoffs all part of the discussion. It closed the week at six month highs and above an important 5-year support and resistance line... Read More 

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Western Digital Breaks Out of Continuation Pattern

by Arthur Hill

Western Digital (WDC) appears to be emerging from a consolidation pattern and this increases the chances of new highs in the coming weeks. The chart shows WDC hitting a new high in July and then falling with a rather sharp decline into early August... Read More 

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General Electric Short Circuits (GE)

by Greg Schnell

General Electric (GE) has been struggling recently and now the stock dipped to two years lows. For such a blue chip institutional stock, the price action faltering while the overall market is in a big bull trend is almost shocking... Read More 

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Fortinet Bids to End Long Correction

by Arthur Hill

Stocks close to new highs are usually in uptrends and have a good chance of recording new highs in the near future. Fortinet looks poised for a new high as challenges a channel line after an upturn last week... Read More 

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Want To Know When To Sell? Terex Is A Perfect Example

by Tom Bowley

In September, Terex Corp (TEX) saw big volume accompany a breakout of a bullish rectangular consolidation phase. After weeks of trending higher, momentum began to slow and TEX printed a "death" candle - a shooting star on big volume to end the uptrend... Read More 

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Proctor and Gamble (PG) Prints An Outside Reversal

by Greg Schnell

Procter and Gamble (PG) printed an outside reversal this week right near the lower Keltner channel line. While the chart of Proctor and Gamble is trending higher, it's always important to find a nice entry... Read More 

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Selling Allows PNC Financial To Unwind For Solid Reward To Risk Trade

by Tom Bowley

While it would be great for the stock market to rise every day without any selling whatsoever, that's just not practical. As a trader, I await episodes of selling to set up much better reward to risk trades in stocks that remain in long-term uptrends. Enter PNC Financial (PNC)... Read More 

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Fiserve Shows Resilience with Move into Gap Zone

by Arthur Hill

Fiserv gapped down and fell on big volume last week, but the candlestick points to an accumulation day and the Accumulation Distribution Line hit a new high. First and foremost, the big trend is up because Fiserve hit a 52-week high with a move above 130 in late October... Read More 

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ConocoPhillips (COP) Makes New Two Year Highs

by Greg Schnell

ConocoPhillips (COP) has been on a roll since July, but this week it broke out to new two-year highs. The oil stocks are well positioned to go on a roll. I detailed this in the Commodities Countdown Video Recording 2017-11-02... Read More 

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Schlumberger Springs a Bear Trap with Big Volume

by Arthur Hill

Schlumberger (SLB) broke support with a surge in volume, but this support break did not hold as the stock surged with strong volume the last two weeks. The decline below 62 looks like a selling climax because of high volume and the gap down... Read More 

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IBM Fails To Hold Moving Average Support, Now Looks To This Key Level

by Tom Bowley

IBM has been a very interesting stock to watch, but not to own. After 23 consecutive quarters of declining revenues, traders finally found something to be excited about in IBM's latest quarterly earnings report. Five years ago, IBM traded near 165... Read More 

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S&P 500 in nose bleed area? ... Not from this perspective!

by Julius de Kempenaer

The Relative Rotation Graph above plots a number of world equity markets against the FTSE all-world index and shows their relative rotation around this benchmark... Read More 

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Ford Stalls before Making Next Move

by Arthur Hill

Ford (F) consolidated after a big advance and this consolidation looks like a bullish continuation pattern. First, industry group strength and the long-term uptrend are in Ford’s favor... Read More 

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Volume Confirms Breakout For WellCare Group

by Tom Bowley

WellCare Group (WCG) posted quarterly earnings that beat Wall Street consensus estimates and the stock soared above recent price resistance. Volume surged as traders accumulated the healthcare provider. The Dow Jones U.S... Read More