Amazon (AMZN) shares were up 3.6% on Friday but that simple statistic does not paint a complete technical picture. The position of the close relative to the open, as well as the direction of money flow is much more important. The stock gapped open in Friday’s session but immediately began selling off, closing near its… Read More »
It is pretty difficult to look at the weekly chart of PayPal Holdings (PYPL) and not believe that the stock is making a major top. There are several technical terms that could be used to describe the price action over the last six months on the weekly chart. It could be called a head and… Read More »
It was a difficult week for fundamental traders. It seemed like good earnings and the possibility of peace on the Korean peninsula could not drive the markets higher. Good news was bad news and that is bad news. Let’s take a look at the charts of the major market indices for clarification. The six month… Read More »
The dollar’s decline off its 2009 high is captured on this monthly chart of the PowerShares DB US Dollar Index Bullish Fund (UUP). As the long term decline accelerated a well-defined downtrend line formed between 20110 and 2014, along the path of the declining 40 week moving average. In late 2014 both the average and… Read More »
Shares of Lululemon Athletica (LULU) have been consolidating in a horizontal channel for the last four months, and the technicals are pointing to a volatile bullish breakout. In 2015, the stock was trading in a similar channel pattern and the Bollinger bandwidth reading was extremely low. A very low reading reflects narrow bandwidth and low… Read More »
The major market indices have made or are near new highs and no one is happy, and that’s because we want a correction, not a rally. The philosopher, Kierkegaard said that dread or angst is a desire for what one fears. Louis C.K. knows this, and though he understands happiness is within the moment, he… Read More »
Here they are.
Which is it: canine or feline?