This risk indicator remains in a bullish configuaton on a weekly and longer term monhly chart!
Keep your eyes on your relatives!
$IBM here is a longer term chart. Bearish Head & Shoulder now in place on the weekly chart.
Expect some pressure to the measured move to the 130 level.
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Bullish wedge breakout! Nice upside potential based on the point & figure vertical Price objective.
$TSLA weak action here. Bearish wick at neckline not really what we want to see.
Relative to $spx horrible!
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“So goes $GM so goes America”
An old adage if you will. If we got the neckline right, more pain to the downside in store for this auto maker.
Enjoy rest of the weekend!
On a daily chart, shorter term chart, we need to do some work to clear through this traffic!
This is a long term chart of the SPDR S&P 500 ETF.
As long as it remains above the up-trend line off of the 2009 and early 2000 lows, it remains bullish to us!
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Our post of Sept. 22 shows the head and shoulder top and breakdown of the neckline. The first downside objective has been met.
We discussed a possible Bullish setup in Palo Alto Networks ($PANW) earlier this week on stocktwits and twitter.
Here is the chart from Tuesday:
We got the upside breakout today!
With a Point & Figure upside target of 133, looks like it might be worth some consideration from the long side!
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