Chartology

Searching For An Apple Stock Bottom: Watch This Indicator

The Bears have sunk their teeth into shares of Apple (AAPL) with the stock recently trading down as much as -17.57% from its April high of $112.10. Considering that AAPL is now near its 52 week lows, investors are starting to look for an Apple stock bottom. Let’s dig into the technical…

Stock Market Futures Lower Again; Will Bulls Step Up?

Stock market futures outlook for May 4 –  S&P 500 futures made several attempts to breach and hold a key support level around 2060.5 (noted in yesterday’s post) and it failed. And, as suspected, we advanced lower into that baseline level of 2046. We’ve lost that level as well, but…

Market Indicators Point To Higher Volatility Near-Term

The current weight of evidence continues to suggest a neutral/bearish toward equities as a whole, with short opportunities available in select areas. One of the reasons for this stance is the potential squeeze that’s setting up in the Volatility Index. There are three charts that suggest Volatility could be headed higher…

Retail Stocks May Continue To Struggle

Retail stocks as a group are just about flat on the year, but three charts suggest things may only get worse for this sector. Today I’ll go through the weekly and daily charts for the Retail Sector ETF (XRT), as well as gauge its relative market strength in a final…

American Airlines Stock (AAL): Out Of Gas Or Ready To Fly?

Despite topping Q1 EPS estimates and authorizing a $2B share repurchase program, investors in American Airlines stock (AAL) haven’t been impressed by the company’s performance. Lower fuel prices have been a tailwind for the largest airline in the world, but revenue fell 4% in the first quarter. Consequently, consolidated passenger…

5 Trading Ideas For Bulls ($RTN, $CHKP, $MDT, $UPS, $BTCUSD)

At the end of every trading month I like to scan through monthly charts to gain some context about the general health of the market and to see what kind of stocks are setting up for longer term moves. It also helps me find some high probability trading ideas. The “Sell In May”…

Apple (AAPL) Elliott Wave Pattern Looks Much Lower

The pending decline in shares of Apple Inc. (AAPL) could be almost as impressive as its meteoric rise from 2009. While the stock far outpaced the NASDAQ during its six-year recovery rally, it also has showed clearer signs of a trend change during the past year.In this post, we look…

S&P 500 Futures Rise As Stocks Catch A Bid

Stock Market Outlook for May 2, 2016 – A look at the monthly chart for S&P 500 futures (ES_F) still shows bullish weight with mild negative divergence. The weekly chart will confirm this, so long as we hold, and/or recover the 2045 region as support. After bouncing off support last…