Chartology

Is Netflix Stock (NFLX) Ready To Explode Again?

Netflix stock has long been a favorite with option traders due to its high stock price, high implied volatility and explosive stock moves. But following the severe selloff in mid-October, Netflix (NFLX) has been very subdued. Since October 23rd, Netflix stock as traded in a very tight range between $374.60 and $395.52. That’s only a range of 5.5% in the last month for a stock that has a history of moving

The Importance Of The All Ordinaries Index And AUDJPY

The All Ordinaries Index has yet to hit its SELL pattern target so this pattern is still valid.  The zone of 5760-5835 is the key with the old realiable .786 Fibonacci retracement up at 6060 the highest it should go if the sell pattern remains valid. As you know we NEVER know which one works or doesn’t… What makes this particularly relevant, in my HUMBLED opinion is its correlation to the

Is Citigroup Stock Poised For A Breakout?

Today, I want to focus Citigroup (C) stock. And more specifically Citigroup stock chart. In the daily chart (below) you can see the classic looking cup and handle pattern setup brewing. The $54.00 – $54.50 level being the cup resistance line, then the handle/bull flag taking place in the last week or so. And notice how the handle is forming on relatively low volume, which I like to see. One cautionary note for

Chart Of The Day: The S&P 500

Well, this chart isn’t going to be flashy. And in fact it may be downright boring. Let’s take a look at the S&P 500 chart from the past few weeks, focusing on the past week or so in general. The S&P 500 has traded in a fairly narrow range for the past 6 days, leaving behind a trail of slowing momentum. Will this underlying weakness lead to a pullback in stocks next

Is Natural Gas Setting Up For A Tradable Rally?

Natural Gas has gotten plenty of attention with volatile moves during the latest polar vortex. Prices are down 12% this week as of this writing. Is the rally over? Or was the recent move higher the first leg of a larger move?  Let’s dig in. Looking into the chart, a few things stand out. First, there is a major confluence of support around the 3.90-3.95 area. This is the most

Cisco Earnings Fail To Impress: Will Stock Hold Key Support Level?

After the bell today, Cisco Systems (CSCO) reported 1st quarter earnings. Although the Cisco earnings report beat on the top and bottom line, investors were mixed about their 2nd quarter forecast. And Cisco also announced that their CFO will be stepping down. At the time of this writing, the stock is down 1.47% in after hours. All things considered this isn’t much of a reaction to Cisco earnings thus far, especially

Gold Miners Update: How Far Will The Bounce Go?

When a security or asset class gets beaten down, sentiment tends to go in the toilet as well. And this generally supports and leads to a trend of lower prices. But as price reaches the extremes, it becomes susceptible to short covering rallies… and ultimately a bottom when time & price align. Although I’m not calling for the latter just yet, it does appear that the Gold Miners ETF (GDX) fit

Is Apple Stock (AAPL) Targeting $150 Per Share?

Over the past 4 weeks, Apple stock has rallied from $95 per share to nearly $110. And in the interim, it broke out above technical and psychological resistance at $100. This breakout probably has some investors wondering how high Apple’s share price can go. Below is a chart of Apple (AAPL) looking back over the past 3 decades. Note that Apple has remained inside of a long-term rising channel for

S&P 500 Fibonacci Pullback Sequence: About To Play Out Again?

The structure of the S&P 500‘s (SPX) uptrend continues to follow a script that has become even more consistent in 2014 than it was in 2013.  The following sequence has pegged each trend regime – up, neutral, and down – this year as the index completed major oscillations in January-March, March-June, July-September; and is now about to finish another. Price moves sideways in a tight (1-2%) congestion zone for 2-5 weeks,