Chartology

Under Armour Stock Falls 8 Percent On Analyst Downgrade

Under Amour’s stock price (UAA) is getting hit hard on Tuesday, trading lower by as much as 9 percent in Tuesday’s trading session. The immediate drop for UAA comes following news of a downgrade by an analyst at Macquarie Research. Note that we have been negative on Under Armour for some…

Wynn Resorts Stock Price Rallies, Nearing $175 Target

Wynn Resorts (WYNN) rises over 4%… currently trading up 2% with an hour until Tuesday’s close. WYNN shares are moving higher today after bullish analysis of macro prospects by Sanford Bernstein. Looking at the chart below, the stock price is in our target zone, which is based on Fibonacci extensions….

Silver To Gold Ratio At Important Juncture For Bulls

When the precious metals sector is ready to outperform, it often receives an early signal from silver prices. When Silver outperforms, it tends to bode well for Gold and the metals sector. This is similar to the way that leadership in Nasdaq or small cap stocks signal “risk-on” for the…

Merck’s Stock Jumps Over 5 Percent On Keytruda Trial Results

Merck (MRK) jumps over 5% Shares of Merck (MRK) rose after positive results on trials of its Keytruda lung cancer drug. This stock move has produced a large bullish candle that appears to confirm the multi-week reversal off the November lows. Question now becomes, “can active investors expect further upside?” See…

US Dollar Decline Targets Major Chart Support

Just two weeks ago, I identified a key price support level for the US Dollar Index (and the currency markets) to start 2018. That level has failed to hold… and this opens up a very important test of the 88 to 89 chart support level for the greenback. Major US…

Interace (TILE): Strong Combination of Fundamentals and Technicals

Interface Inc (TILE) Interface is a $1.54B maker of modular carpet for commercial and residential markets trading 19X Earnings, 1.59X Sales and 41.83X FCF with a 1% dividend yield. Interface’s stock (TILE) has been a relatively lower revenue growth name for the past few years but expecting 2018 and 2019…

Stock Market Futures Trading Update: Watch Those Divergences!

Market Outlook for January 16, 2018  The S&P 500 and broad market indices are seeing some bullish continuation after the long holiday weekend. However, there is some technical divergence playing out. Buying on pullbacks provides the least risk today. Note that you can access today’s economic calendar with a full rundown of releases….

Market Update: Consumer Staples (XLP) / NYSE Composite Ratio

The last time we blogged about this important ratio, we highlighted an important juncture for the market’s next move. While the targeted price level did yield support for a minor bounce, the overall market did not pay attention at all and the continued ‘risk-on’ institutional appetite continued. This latest advance…

U.S. Corn Futures Weekly Outlook: 4 Concerns For Bulls

MARCH corn futures closed DOWN 5-CENTS per bushel week-on-week, finishing at $3.46 ¼.  The price action continues to frustrate corn bulls. Will this grinding, painful price action lead to a durable bottom in the months ahead? Let’s look at the latest data. Weekly Highlights and Takeaways for January 15, 2018:…