Kroger ($KR) Daily: Kroger has been ever so slowly trying to make a move higher, since the big dip it had on the Amazon Whole Foods news. It has been getting support near the $20 level, as i’ve pointed out in my previous posts, and has since moved ever so cautiously higher to $23 in the past week. You can see on the daily chart that the techincals have been slowly...
Retail ($XRT) Weekly: After breaking below a long term trendline support back in late 2016, Retail ETF $XRT has been in a ABC corrective Elliot Wave pattern. We see that in the very near term, it will look for support in the $38 area, which was the low and end of wave (A) as shown in the weekly chart below, moved up to the 0.786 fib level before starting it’s...
Chipotle Mexican Grill ($CMG) Daily: So I’m a big fan of simple, easy to find technical patterns – sometimes they’re not as obvious and you have really try to see what may be developing. But that runs the risk of seeing something that’s not really there, and then reaching for something that may or may not happen. Technicals can’t explain everything, nor do i find...
Sprouts Farmer’s Market ($SFM) Weekly: Sprouts Farmer’s Market has been in a downtrend ever since it came on the market – making lower highs and lower lows, it finally seems to have found some support and bottom at the $18 price level. After retesting this level in March, the stock proceeded to make a strong move up and above the trendline resistance that it has...
Crude Oil ($CL_F, $USO) Daily: There’s nothing exciting or encouraging to say about Crude Oil at the moment, as it continues to make lower lows and lower highs, both on the current downward trend that it’s on, as well as on a larger time interval, starting from March of 2017. It should, however find some support around the $43 area, where it is near today at the...
Alibaba ($BABA) Weekly: Lately I’ve been seeing a lot of posts about Alibaba ($BABA) in the forums and discussion boards. Partly I assume because those who stuck with it are a bit nervous about the meteoric rise it’s had in 2017, and I suppose on the opposite side, those that see that move and are wondering when they can get some of the action. I don’t like to to...
Walmart ($WMT) Weekly: In my last post, I had indicated that Walmart is on it's last Elliot Wave (Wave 5) and although it showed potential to go a bit more and extend to about the $82 price, I had pointed out the fact that Wave 5's "can be cut short". I had noted that the technicals appeared to be rolling over, and showing a negative tune - with a ugly H&S...
AMD ($AMD) Daily: Fairly straight forward Head and Shoulders pattern here for AMD. After finding support around $10 in the last down move, the stock retraced back to about 50% fib level, dipped, then back to 0.618 fib level before heading down again. With MACD seemingly rolling over on the daily, and the RSI in lower levels with each peak of the H&S pattern, seen...
Nike ($NKE) Daily: Nike after enjoying a HUGE run up to this point, appears to be finally catching up to the overall weakness in the retail industry. We can see from this daily chart, that it started to make a series of lower lows and lower highs after posting an all time high in price around December of 2015. The stock could have moved higher after this...
Target ($TGT) Monthly: Target is getting smacked in kind with rest of the retail/grocers after today's announcement of Amazon's ($AMZN) buy out of Whole Foods ($WFM). When companies like Kroger ($KR) are experiencing these kinds of slashing downside moves, it's a good idea to take a breather and stay out of these stocks and let things settle out, instead of...
Whole Foods Market ($WFM) Weekly : Hindsight is 20/20 - but could one have seen this coming? If you look at the weekly chart, you can see a year long bullish divergence in the RSI. Although it's unlikely that markets knew that $AMZN would buy out $WFM, it's possible that insiders knew that Whole Foods may be a good buy out target. Stocks like $KR are gonna get...
Kroger broke its massive H&S pattern back in late Feb/early Mar, then retraced back up to this point to the neckline support... only to get a 20% smack down today. H&S target puts the price around... $15-18, which have been the range of previous highs before this massive run up to this point. Technicals remain negative. Do not touch! Lol.
Walmart ($WMT) Daily: Walmart is certainly going against the trend of other retailers, who have, by in large, suffered a downturn in retail. Companies like $TGT seen their stock price drop in the same period of about 10-12%, starting in Feb 2017. This is also evident in the Retail ETF $XRT which have done well for many years but started to turn over in early...
Yahoo ($YHOO) Monthly: Not much to say about Yahoo except for the fact that it’s been in this LONG term channel, as can be seen in the monthly chart below. It did try to get above this channel resistance but has since scaled it back, and remains at the 1.0 fib level near the previous peak of 2015. Keep eye on where the stock moves along or above this channel...
FaceBook ($FB) Hourly: Let’s have a closer look at the hourly chart on $FB, after the Friday’s late in the day loss of -3.3%. We see that after having found support at the $144.70 level on May 17, Facebook proceeded to begin a motive Elliot Wave up to $149, then correcting right about 0.5 fib level at $147.25 to complete wave 2, back up to ~$153 at 1.618 fib level...
Biotech Sector ($IBB) Weekly: Biotech $IBB appears to continue to remain in a channel since beginning of 2016. One may even interpret this as an bearish pennant, but it’s too early too tell as it may get support from the 50 Week moving average and move out of the channel to the upside. RSI appears to support an upward trend in the longer term, but for now, it...
JP Morgan ($JPM) Weekly: $JPM appears to be topping out and finishing the 5th Elliot Wave of the supercycle. As noted in my previous post, and as well detailed in the next chart on this page, $JPM does not hold the Head and Shoulders neckline and suffers a 2% loss day. Note also the steep decline in RSI and MACD. $JPM may get some support near the $74 area, where...
Bristol Myers Squibb, Co. ($BMY) Weekly: After a big drop in price mid 2016, $BMY further corrected through 2017, following a fairly well outlined ABC movement, and now appears to be in a downward Motive Elliot Wave pattern. Fib extensions show a possible move down to around $38, then a further move down to $32 to revisit old support levels, set back in a lengthy...