Here’s a link to my article on Facebook (FB) published on TheStreet.com this morning.
A link to my article on Wal-Mart (WMT) published on TheStreet.com this morning.
I have been highlighting the stochastic oscillator on the S&P 500 index for the last six months, and it has been accurately signaling short term market reversals. A bullish signal occurs when the oscillator makes a positive crossover in an oversold condition and then moves up and out of the oversold zone; a bearish signal occurs when the oscillator makes a negative crossover in an overbought condition and then moves down and below the overbought zone. There have been ten signals since October 2015, five bullish and five bearish. The most recent, a bearish signal came yesterday as the oscillator moved out of an overbought condition for the first time in five weeks.
Here’s a link to my article on MasterCard and Visa published on TheStreet.com this morning.
The technical picture on the Tesla (TSLA) weekly chart is bullish. Momentum indicators are headed higher, money flow is turning positive, and the stock price has been moving higher for the last month. It has, however, entered an important zone of resistance, near the flat 40 week (200 day) moving average and the highs made at the end of last year.
A hammer candle formed last week within the resistance zone, and this reflects positive price action. But follow-through price action is required to sustain the short-term bullish trend or the stock runs the risk of a pullback that could take it back down to the channel low, and require several months of consolidation and base building before another run at resistance.
I have been following the stochastic signal for many months and it continues to be a trustworthy trading asset. Support on the S&P 500 chart is defined by the uptrend line drawn off the lows since February, a trend line drawn off the declining highs in the last months of last year, and the 200 day moving average currently at the 2017.21 level.
Here is my analysis of Activision Blizzard, Netflix, and Amazon published on TheStreet.com this morning.
A large bullish engulfing candle has formed on the iShares Emerging Markets ETF (EEM) daily chart and encompasses the overall ranges of the previous eight candles. Recent price action has already taken out a long term downtrend line and a move back above the declining 200 day moving average would have intermediate term implications for the lagging market.
Here’s a link to my article on four speculative China stock trades published on TheStreet.com this morning.
Linkage to my article on Advance Auto Parts (AAP) published on TheStreet.com today.