Don't Ignore This Chart!

A Dynamic Stock?


One of the industry groups that hit a new high this month was the Aerospace and Defence industry group ($DJUSAE). That chart looks beautiful.

Looking through the charts in that industry group, Northrop Grumman (NOC) has been roaring higher. But another chart setting up nicely right now is General Dynamics (GD). The chart made new 2019 highs this week!

The SCTR is trying to get up into the top 25%, showing strength compared to the other big performers in the large-cap space. The relative strength to the S&P 500 broke the down trend in late July. The stock wobbled in August, but now looks set to move up.

With the NYSE Advance-Decline Line hitting fresh cumulative highs here, it looks like this market still wants to move to the upside. I'll have more information on the Canadian Technician weekend market review.

Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst,
Author, Stock Charts For Dummies

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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