Tag "stock charts"

Blackberry Going Private Finds Technical Support

Does the idea of beleaguered mobile phone maker Blackberry going private – even by leveraged buyout – have too much working against it to even warrant consideration? Without a doubt, there’s a stormy black death halo of negative sentiment encircling Blackberry (symbol: BBRY) with more than one analyst heralding its demise and calling quite brazenly for investors to retreat.  There’s even some debate over whether a tenable deal could be reached

An Introduction to 3D Printing Stocks

By Alex Salomon As some of you may be aware, I have been trading (and even investing in my retirement plan) in 3D printing stocks for a while. Most of the stocks in the 3D universe are currently acting as “mo-mo” stocks, so it has been easy to show good performance. So naturally, when I told @andrewnyquist that I was going for a quick visit to the 2013 “Solidworks Show,” I was all excited

Extreme Market Readings Point to February Caution

By Sheldon McIntyre As of Friday’s closing price, the S&P 500 was 24% above it’s 200 week moving average. This caught my attention, as it comes at the same time that I am seeing extreme market readings on the Nasdaq Composite Index (25% above), the S&P 400 Mid-Cap Index (30% above), and the Russell 2000 Index (27% above). See chart below. As well, the S&P 500 to VIX (Volatility Index) ratio

Emerging Markets, Copper Breakouts In the Cards?

By Sheldon McIntyre In the weekly charts shown below, Copper prices appear to be breaking out to the upside. Supporting this thesis is Copper’s strong correlation to Latin America (and the Emerging Markets). In short, a Copper breakout, coupled with a Latin America (shown below as Merrill Lynch Latin America Fund) breakout, would be bullish for Emerging Markets. And the Emerging Markets have been consolidating for the past four weeks, looking

Gold Complex Nearing Critical Technical Support

By Andrew Nyquist Gold prices experienced a brief respite in January, retracing roughly 38.2 percent of its 3 month losses. But in doing so, two things are important to note: 1) the Gold Miners (GDX) did not bounce with Gold (GLD) and 2) both are now under pressure again and nearing critical technical support. Below are a series of charts that highlight the importance of Gold’s macro 61.8 percent Fibonacci retracement

Market Update: Expect Near-Term Turbulence

By Andrew Nyquist It’s January and the “off-to-the-races” theme is in full effect again. Similar to last year, the S&P 500 has exploded higher and left in its wake of a stream of bears and assorted market chasers and followers. On the same hand, however, it is good to note that the markets can only go so far, so fast, before experiencing a dip or pullback. And further to this point,

VMW Technical Support and Trade Setup

By Andrew Nyquist On Friday, I initiated a one third sized trading position in VMware Inc (VMW). To be clear, this is a short-term trade  (entry 1 of 3) with defined risk. The risks are clear with overbought market conditions and a lagging technology sector. That said, I initiated the trade due to price proximity to VMW technical support. Here is a breakdown of the trade with VMW technical support levels: 1.

Uranium Stocks: Cameco (CCJ) On Verge of a Breakout?

By Andrew Nyquist The past 2 years have seen uranium stocks crater and flatline. Much of that has to do with the tragic Japanese earthquake on March 11, 2011. The earthquake crippled nuclear reactors and left many people at risk. And with each twist and turn, the news cycle seemed to extend a bit longer, furthering the downward pressure on uranium stocks. By the time the news cycle ended, the damage

Energy Sector Analysis and Technical Update

By Andrew Nyquist The energy sector lagged the financial market for the better part of the fourth quarter 2012 before showing signs of life into year-end. In fact, the “party” started on December 31 with a big gain. And the momentum carried over to the next session with a gap higher to ring in the New Year. But what I found most interesting about this technical setup was the price action

Transportation Stocks Strong, But Resistance Looms

By Andrew Nyquist Over the past couple months, the Dow Jones Transportation Average has been on fire. After testing it’s 38.2 Fibonacci retracement level multiple times last year, it pivoted and shot higher. Many transportation stocks have benefited and shown strength since. As well, the price action has helped propel the sector into a leadership role, pushing the markets higher. That said, all good rallies require consolidation (i.e. a rest) at some