Category Archives: Weekly Charts

Santelli/Moreno 10 Year Fib Retracements

Rick Santelli on CNBC earlier looking at the same thing that I have been highlighting for several weeks now, the potential Fibonacci retracement levels on the 10 year treasury yield chart. He retraces from a base of 1.63 and I use the 1.43 level, the latter being the 2012 low, but together a target zone… Read More »

WhiteWave – Undertow

WhiteWave Foods (WWAV) has been riding the plant based food movement, with shares up over 62% over the 52 weeks. The strength in the stock this year has been the inverse of the price action in Whole Food Markets (WFM). The weekly chart of both stocks includes a graph of the correlation coefficient, which shows… Read More »

A Weekly Short in Fortune Brands Home & Security (FBHS)

The weekly chart of Fortune Brands Home & Security (FBHS) shows the stock price breaking down out of a long term rising channel. The MacD has been in bearish divergence during the channel move, more recently the 10 week average crossed below the 40 week average, and accumulation/distribution is falling below its 21 period moving… Read More »

Gold Stabilizing Above Key Support

At the end of January this year, the spot gold price broke out of an inverse head and shoulders pattern, jumping about 8% before peaking in March. Since then, it has returned to test the pattern neckline and on Friday formed a strong hammer reversal candle at this key resistance-turned-support level. Follow through action today… Read More »

Russian Sanctions and Fertilizer Prices

The potential for trade sanctions against Russia, one of the largest potash producers in the world, has supported stock prices in the sector. The broader fertilizer sector as reflected in the Global X Fertilizer/Potash ETF (SOIL) has lagged in performance, but it may be preparing to make a catch-up move. The weekly chart shows the… Read More »

$VIX – Is it Safe to Be Afraid?

The chart of the Volatility Index ($VIX), commonly called the “fear index,” reflects little concern about the Ukraine, interest rates, the labor participation rate, the decline in social media stocks, the Buffett Indicator, or just about anything else going on in the markets or the world. The index is back down near multi-year lows and… Read More »

AMZN at Support

In a version of the LinkedIn (LNKD) attempt to hold support, shares of Apple (AAPL) are hanging onto a key level of their own. It can be seen on the weekly chart as an area defined by an uptrend line drawn off the 2012 and 2013 lows and the intersection of two layers of Fibonacci… Read More »