The weekly charts of the S&P 500 and the DJIA show large dark or down candles formed three weeks ago followed by two futile attempts to recover positive momentum and their 10 week (50 day)moving averages. These failed recoveries formed high wick or long upper shadow candles, which reflect an inability to maintain upward momentum… Read More »
Jim Cramer highlights the charts of Visa (V), Mastercard (MA), and PayPal (PYPL) on “Mad Money,” as interpreted by Bob Lang of Explosive Options.
I have been following Starbucks (SBUX) for some time and my longer term view has not changed, which is that the stock is breaking down from a long term consolidation pattern and is eventually headed much lower. Here’s a link to my most recent article on the subject published this morning on The Street.
A large triangle pattern has formed over the last nearly one year on the Starbucks (SBUX) daily chart. The stock price has made a series of lower highs above a horizontal support line, and it has underperformed the S&P 500 index by 13% year-to-date, and 31% over the charted period. Over the last two sessions… Read More »
The S&P retested the top end of the support zone in Friday’s session and was able to hold the bounce off that level. It still closed down for the day but did form a hammer candle and remains situated in the middle of the neutral zone. The continued integrity of the support zone and the… Read More »
This is a market that is in semi-panic mode; it is money that is afraid it will miss a move to the upside or to the downside, committed only to momentum regardless of direction or duration. It is under the influence of schizophrenic algorithms and random impolitic commentary by members of the Federal Reserve Board.… Read More »