Don't Ignore This Chart!

December 2017

Don't Ignore This Chart!

AstraZeneca (AZN) Surges! Are All Time Highs Next?

by Greg Schnell

AstraZeneca has not made all time highs for the last three years. However, this current setup looks like it could be the trigger point. With everything surging and the MACD coiled, a sudden surge here could bring a whole new look to this chart... Read More 

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Regional Bank ETF Winds Up before Next Move

by Arthur Hill

The Regional Bank SPDR (KRE) surged to a 52-week high in late November and then formed a bullish continuation pattern as it consolidated the last few weeks... Read More 

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Copper Miners (COPX) Might Start The New Year Hitting 52-Week Highs

by Greg Schnell

Commodity charts are breaking out left and right. Today, the Copper Miners ETF (COPX) tried to break out and make new 52-week highs. This might give a pullback as you can see the ballistic move up to retest the old highs. It should definitely go on a watch list... Read More 

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Diamonds For Christmas? How About Diamond Offshore (DO)

by Greg Schnell

Diamonds are always popular this year. Perhaps its time to think about a relationship with the unloved energy services sector. Diamond Offshore Drilling (DO) has broken above a beautiful head/shoulders base this week... Read More 

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Schlumberger Ends Downtrend, Now Looks To Confirm Price Breakout

by Tom Bowley

The energy ETF (XLE) has been blistering hot this week and today its three largest holdings - Exxon Mobil (XOM at 23%), Chevron Corp (CVX at 17%) and Schlumberger (SLB at 7%) - all had some form of a breakout. XOM surged to its highest close since January... Read More 

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Amgen Goes for a Pennant Break

by Arthur Hill

Amgen (AMGN) is one of these stocks that is leading year-to-date, but lagging over the last three months. Year-to-date, the stock is up around 25% and the S&P 500 SPDR is up around 22%. Over the last three months, the stock is down around 4% and the S&P 500 SPDR is up around 7... Read More 

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Halliburton (HAL) Heads For Higher Ground

by Greg Schnell

Halliburton has been basing for a few months now. Today, Halliburton climbed out of the valley and started rising higher. With the price action searching for higher ground, the stock is also starting to outperform on the SCTR... Read More 

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Analog Devices Turns at Key Retracement Zone

by Arthur Hill

There is a certain ebb and flow in an uptrend where the advances consistently outpace the pullbacks. Think of it as two steps forward and one step backward... Read More 

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Teekay LNG Partners (TGP) Imports A New High

by Greg Schnell

Teekay LNG Partners (TGP) Broke out to new two year highs this week. This marked the highest close in two years when the week settled out. The chart has all kinds of bullish technical signals. The RSI has a bull market pattern of staying above 40... Read More 

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Did Mylan's Shooting Star Candle Mark A Near-Term Top?

by Tom Bowley

We'll soon find out. But, as a short-term trader, I'd have sold Mylan (MYL) into the close today. A close above 40.09 on heavy volume would confirm a breakout. Today, MYL hit 41.59 intraday, but fell all the way back to close at 40... Read More 

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What a Difference a Month Makes for Sector Performance

by Arthur Hill

The two sector Performance charts below show a rather dramatic shift in market leadership over the last two months. First, note that these PerfCharts are using the nine equal-weight sector ETFs... Read More 

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Freeport McMoRan (FCX) Solders A New 9-Month High

by Greg Schnell

Freeport McMoRan (FCX) hit new 9-month closing highs today. As a miner of Copper and Gold, the strong price action in the face of weakness in the underlying metals is a very bullish trait. When the stock is outperforming the base metal, that can be a very good signal... Read More 

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Ingersoll-Rand Surges off Support

by Arthur Hill

Ingersoll-Rand (IR) is showing renewed signs of life with a surge off support and two mini breakouts. Note that IR is part of the industrials sector and this sector is showing upside leadership with a 52-week high recently... Read More 

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Intel Testing Key Short-Term Support

by Tom Bowley

On October 26th, Intel (INTC) posted quarterly earnings results and beat both revenue and EPS estimates. It resulted in a very strong gap higher the next morning and then INTC continued rising, tacking on another 10% within a week... Read More 

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The View Gets Clearer for Valeant (VRX)

by Greg Schnell

The view for Valeant (VRX) improved substantially this week as the stock broke out of a well-defined base. From a technical analysis perspective, this is a text book breakout. The stock has based by building a one year range. The new 52-week high broke out of the base this week... Read More 

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Here's A Pharma Printing A Hammer After Filling Gap

by Tom Bowley

I'm constantly looking for short-term trading opportunities and Perrigo (PRGO) fits the bill... Read More 

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United Technologies Forms Classic Continuation Pattern

by Arthur Hill

United Technologies (UTX) looks ripe for a breakout to new highs as a bullish cup-with-handle pattern takes shape. Note that UTX is in the industrials sector and the defense-aerospace industry group... Read More 

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Clorox (CLX) Makes Fresh New Highs

by Greg Schnell

Clorox broke out on Monday to news highs and continued the move today. With the rotation from growth to value or growth to defensive, this would fit right in. The SCTR is pushing into the top quartile, which I particularly like... Read More 

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Mylan Continues its Move with Expanding Volume

by Arthur Hill

Mylan (MYL) was hit hard in early August with a plunge to 30, but firmed and recovered with a gap and surge to the upper 30s. The stock consolidated after this gap-surge and recently broke out with above average volume... Read More 

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Shake Shack Starts Shaking (SHAK)

by Greg Schnell

Shake Shack (SHAK) started shaking this week. The stock made new 16 month highs today. This surge above a well defined base is very bullish. The SCTR is pushing back up above 70. The 10 week moving average has moved above the 40 week moving average... Read More 

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Rising Treasury Yields Signal Two Things

by Tom Bowley

There's a renewed selling effort in U.S. treasuries and that's sending yields soaring... Read More