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Monthly Archives: November 2013
CME Group looks like it wants to go higher
The CME Group stock (CME) showing signs of strength and looks like prices want to move higher. It has been consolidating for about four months and it is reaching the top of the range again at around $78.50. The upside … Continue reading
Metlife showing signs of life!
Metlife (MET) bounced of the 50 DMA last Friday on heavy volume. It has been trying to move above strong supply around $50 since august. A bull flag pattern is forming on the 60 min chart that can help me … Continue reading
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US Steel Holding Its Gains
US Steel (X) broke out November 4th and has been holding its gains for six trading days. It appears to be building a “Cup and Handle” bullish pattern with an upside target of $33 and change. The chart shows an … Continue reading
Goldman Sachs another example of consolidation
Goldman Sachs (GS) has been in a trading range since May. The trend is still up. A decisive break above $169.50 could take this stock to $195 easily. Patience is key in these cases because the market is showing signs … Continue reading
Dicks Sporting Goods trying to break out
DKS is trying to break out of a trading range that started back in April last year. Keeping an eye out on this one as it may fail to set all time highs once again. I plan to wait for … Continue reading
Japan ETF up against resistance
The iShares MSCI Japan ETF (EWJ) has been struggling to get past $12.30 since June this year. The trend is still solidly upward as seen in the daily and weekly charts. It is another example of stocks that will soon … Continue reading
Utilities ETF uptrend still intact
The Spider Utilities ETF (XLU) has recently pulled back and it is stuck in a triangle pattern. The 200 and 50 DMAs are still trending higher. Considerable supply came in at $41 back in in May with all the “Taper … Continue reading
GM Consolidating at Top
The chart for General Motors (GM) shows an amazing two year run that is taking a pause near its all time highs (for the new GM that is.) The company reported strong sales a couple of days ago, still it … Continue reading
Russell (IWM) approaching support
The Russell 2000 index ETF (IWM) is approaching a strong support level just below $108 where a well defined weekly trend line and the September trading range meet. This is usually a good short term trade entry point and one … Continue reading
