Chartology

Is The Russell 2000 Index Targeting New Highs?

The Russell 2000 Index (RUT) has received some attention lately as it is still beneath its April highs. However, from a technical perspective the Russell 2000 is still in good shape. Back in February, I wrote about the Russell 2000 Riding Its Bullish Channel Higher. It’s time for an update. In the chart below, we can see that the RUT is well above near-term supports. As well, we still have an outstanding long

Chart Of The Day: German DAX Bounces Off Key Trend Line

Over the last two weeks, the German DAX stock market index has tested and held its uptrend line from last October. Holding this trend line would be a huge win for European stocks, as well as other major stock market indices. Here’s why. First, the German DAX has been a global leader since last October. While U.S. equities (i.e. the S&P 500) were consolidating in early 2015, the German DAX was

US Corn Weekly Review: Traders Cautious On Yields Outlook

Monday’s Crop Progress report showed the US corn crop now 85% planted as of May 17th versus 71% last year and the 5-year average of 75%. A number of key corn producing states are nearing the finish line as far as planting is concerned. Illinois was 94% planted, Iowa 92%, and Minnesota 97%. Those three states collectively as of the March 31st Planting Intentions report were expected to plant 33.8 million corn

Intel Corp (INTC) Stock Update: Base Building

When I last looked at Intel Corp. (INTC), the stock had just put out strong earnings and was attempting to bounce after a 3 month decline of around 25 percent. At that time, the setup and earnings report looked good but we were waiting to see if the “big money” felt the same. As well, the stock price (at that time) was below it’s 50 day moving average and downtrend. Here’s an

Apple Inc. (AAPL) Chart Update: Price Pattern Still In Play?

Apple’s stock has spent the past few months consolidating some big gains. And the consolidation range has been wide and tradable for those that are more active. But as Apple Inc. (AAPL) nears its all-time highs again, investors are busy debating whether slowing momentum will lead to a top. That’s a valid question and long-term investors will need to watch price indicators closely to determine exposure. This past February, I

Historic Rally In Crude Oil Prices Set Up By Bullish Wick

Just two months ago, the 2-month rolling return for Crude Oil prices was -40% (see point (1) in chart below). At that time, Crude Oil had declined almost $70 in the past 9 months, trading near $45/barrel. Many people were predicting that Crude Oil was not near a low and some were thinking the $20 range would come quickly. Well look what happened. Crude Oil has gained 41% in the past 2 months,

S&P 500 Chart: Price Compresses As Traders Await Next Move

As many momentum, directional and trend traders will attest, the past several months have been pure chop. Despite the new all-time-highs for the S&P 500 Index (SPX), the move higher has been a series of stutter steps. Checking in on the chart of the SPDR S&P 500 ETF (SPY), we can see a clear pattern of smaller pullbacks and bounces since the February rebound. SPY has hovered in a neutral

Twitter (TWTR) Options Trading Idea: A Cash Secured Put

Not much has changed fundamentally since we last discussed Twitter stock (TWTR). That was Monday last week. Except President Obama has his own Twitter account now. In the past week, Twitter earnings estimates for the second and third quarters have remained unchanged at five and six cents respectively, as have for 2015 and 2016, at $0.34 and $0.67, in that order. The stock is still trying to digest the earnings-induced

Kite Pharma (KITE): Careful Catching This Falling Knife

I don’t pretend for a second to understand the science behind Kite Pharma (KITE) business, but I do know several smart biotech investors and analysts who are pretty convinced that its technology will prove to be the real deal at least as it pertains to blood cancers. I have never been involved in KITE, but I’ve been watching it for some time to see if/when it may offer a decent entry