MRK is forming a bullish schedule on its daily chart.It's currently at support. If Support holds, MRK should breakout out of the flag, and go higher. Time will tell
I published a chart sometime last week on the 10 year yield, and made the point that we need the yield to go up for the market to continue it's rally. the same goes for the 30 year yield, they are currently at 3.13 % and overall direction seems to be down. IF the support on the wedge is broke, we could see 30 year yield @ 2.12 %. Just a reminder that yield hit...
Making new high on decreasing volume, stay away from these companies.....
While the S&P is trying 2011 high , basic materials are still lagging the broad market by 14 %. For the the market to break 2011's hight, the basic material (IYM) and Russell 2000 ( IYD) will need to break their resistance line. Long investors do not want these two to break there support. Source: Chris Kimble
I was reading an article this morning, and the author posted a very interesting chart. We can see that the NASDAQ is currently at a key resistance line. the past two time it reached that level, we had a recession and financial crisis. So here we are again, will history repeat itself ? the author thinks so. Comment are very welcome
Potential good news for the bulls 10 year yields are above their support level. a rally in yield could potentially push the S&P 500 above it's 2011 highs. Keep an eye on it
The dollar seem getting weaker . currently sitting on it's 200 ma , which is technically good support. If broken this could be good news for bulls
MES, the market vector gulf states index etf, has some good exposure to some oil producing countries. By having some exposure to that region, one might benefit from the increase in oil prices. I have noticed on this weekly chart of MES , that the price broke through resistance last week. Will want to go long if last week high is broken( 20.63), with a stop loss...
MasterCard made a new high last week. I wonder if the stock will still respect the current channel price levels or continue to go higher .
Egypt is one of the hottest in the word, but ONLY for investors with strong stomach and appetite for extreme high beta the Egypt index dropped more than 50 % last year , mainly because of the "Arab Spring". For 2012 , it's up more than 30 % . Will it reach it's high of 2011 again, i don't know. The Egypt exchange is open on Sundays and currently up 2 % ( as per...
Nice breakout from the bullish triangle , trend is getting strong ( ADX > 20), target is around the $50 range , with a stop loss around $ 40
The DJ transportation index and the DJ Industrial index are suppose to move in the same direction ( same direction does not equal same rate of return), as per the Dow theory. However , for the past 10 days or so, we've seen the DJ Transports, represented by IYT, break it's trend line and diverge from the DOW ( Orange line) . So, is the transport index trying to...
Silver , just broke an important resistance at around $34. Some investors might take profit at those level, putting some down pressure on silver. However , looking at the ADX, the uptrend seem very strong . Just like my previous SLV analysis, I remain cautious but bullish on SLV.
CORRELATION : 81 % CO-INTEGRATION : 0.60 LONG CRS (GREEN)@51.37 SHORT HAYNE (RED) @ 64.15