The last week – March 17 – was afflicted by the geo-political tension between Cold-War warriors of the years gone by culminating in Crimea conducting the referendum, severing ties from Ukraine and fusing with Russia. Theoretically, the upheaval was supposed to push the markets down but they rebounded from a channel low to the channel high at…
Long Setups: Bullish 50-over-200 SMA Cross Over Name Symbol Exchange Sector Industry Last Close Volume Ctrip.com Intl Ltd. CTRP NASD Cyclicals Travel & Tourism 47.75 3,307,652 SPDR Gold Trust Shares GLD NYSE 125.41 8,575,464 Annaly Capital Management, Inc. NLY NYSE Financial Mortgage REITs 11.20 9,790,345 PNC Financial Services Group, Inc. PNC/PQ NYSE 21.33 109,065 Urstadt…
Long Setups Embraer Aircraft (ERJ) is bouncing off 61.8% Fibonacci retracement. 50D SMA is crossing over 200D SMA and MACD is giving a buy signal. Resistance is near 36.62. The stop below recent low of 32.82 and the ABCD pattern measured (AB:CD) target would be near 39.65 giving 2.9 reward-to-risk ratio. Excel Trust Inc. (EXL)…
Bullish Cross Over – 50D MA over 200D MA. Acorda Therapeutics Inc. (ACOR): A close above yesterday’s high of 38.60 would be bullish and a close above the double top of 39.95 on 3/19/14 would be a conservative long setup. Allegiant Travel Co (ALGT) – look for a break above 112.44 for a good setup.…
Since mid-March steel Market Vectors Steel ETF, SLX, is bouncing off the oversold territory. Now it is approaching the resistance from the down trend-line from the double top made in December. The major holdings of the ETF are: Rio Tinto (RIO), Vale (VALE), Arcelor Mittal (MT), Posco (PKX). Nucor (NUE) and Reliance Steel (RS). All are showing similar…
Monday, March 24th 2014, is the day for European Flash PMI. The data for March show that services and manufacturing sectors in France are expanding while contracting in Germany. The French flash Composite Output Index rose to 31-month high of 51.6, up from 47.6 in February and above estimates. Services sector expanded for the first time and…
The week started with a bang on Monday but ended with a whimper on Friday. Friday’s volatility was expected as it was a quadruple witching day – i.e. a day on which stock index futures, stock index options, stock options and stock futures expired. The March expiration day has generally been volatile producing mixed results…
Natural Gas in particular and energy sector in general has a seasonal tendencies to offer profitable trading opportunities in late January / early February. Stock Trader’s Almanac has done an analysis and found that AmEx Natural Gas index, $XNG, usually rises between February and June. We have used our proprietary algorithm to find more profitable entry and exit points during this…
The market has been ripping higher and the trajectory of NASDAQ Composite in 2013 was from the lower left corner to the upper right corner in an almost straight line. In the month of December 2013, the index gained 6.5%. Still, it behooves to pay attention to the seasonal tendencies, which say that computer tech and internet stocks usually weaken during…
The seasonally favorable period for the Health Care sector is still continuing. The first batch of trades for this sector were triggered at the close of March 4th. Today the entry signal for one more ETF were triggered. Go long IHF – iShares US Healthcare Providers ETF – at or near 95.77 During the last six years, this trade…
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