THESIS
MARKET
NASDAQ in a confirmed uptrend, price above a rising 30W MA.
5 and 10 day breadth ratios above 1 suggesting demand in control.
12 week breadth ratio 0.78 but improving suggesting market in transition.
$VXN below 30.
STOCK
BULLISH STRUCTURE
Price above a rising 30W MA.
RS above the zero line, trending up and near ATHs.
Price moved 43% before...
Cup with handle on $DFIN right at its previous all time highs (red line). Nice setup and holding well today while financials are weak.
Donnelley Financial Sol (DFIN)- FINANCIAL COMMUNICATIONS AND DATA SERVICES COMPANY SERVES TO AN INVESTMENT AND CAPITAL MARKETS WORLDWIDE.
Process your way. Hope this helped you profit as well.
Will keep watching to see if we get another set up. We may see the gap closed. Likely there is more up action to come.
Have a great weekend.
On the weekly you can see volume is up recently and it looks like it may be ready to break the long term downtrend line. Nice cup. We may get a handle next prior to a break of the long term trend line. Could wait for a close above the downtrend line. If you would go long now you could use a close below the recent low as a stop. (see daily chart). IFFFF is it...
