Boeing, symbol $BA continues to rip out of this weekly chart!
Point & Figure verticle target is 172.
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The $THD, iShares Thailand ETF, is showing us a double bottom with the characteristic Big W shape. The Double bottom suggests a run to last falls highs. Take a look at the Higher Lows creating a Bullish Momentum Divergence. The pattern of this bottom suggests a possible price target of $86.
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When $XLY (Consumer Discretionary) under performs the $XLP (Consumer Staples)
it means that people are getting defensive. This ratio, more often than not, turns down before
a correction in the overall market.
This brings an opportunity for a pair trade by going Long $XLP and Short $XLY.
Something to consider regarding the health of the market:
1. The fact that this ratio continues down that perhaps the market bounce is not real
2. The XLY is down vs. The XLP.
3. Low volatility continues to outperform high beta.
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On a longer term, weekly chart, Equifax Inc. Has broken out of a 2 year trading range when you divide its price by the S&P 500.
This is known as a Relative Strength Chart. When the RS chart is moving up left to right, that means the investment is out performing whatever you are comparing it to.
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Quest Diagnostics, symbol $DGX is working its way out of a multi-year bullish base.
This member of the $SPX is also showing great relative strength!
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It’s got to get through the $121 Resistance first.
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Photo: Gold Gown by Givenchy
Video: The Rolling Stones Live 1969 “Gimme Shelter”
The Tesla ($TSLA) Motors chart has a Head and Shoulder inside a Head and Shoulder pattern. You’ll notice in the chart below, that the pattern on the right appears to be repeating the pattern on the way up on the left side.
If it were to complete and continue to mirror the other side, the price would arrive at $180.
1. The pattern continues to mimic the left side and goes to $180.
2. Possible price target, measured from top of the Head to the middle of the neckline and deducted from where it breaks from the neckline suggests $155
3. The Point and Figure Chart objective is much more bearish at $128.
It appears for the time being, the King of Momo is out of favor.
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Since the recent Sony Hack, many companies will no doubt be considering a more sizable allocation of budgets in 2015 to security. According to a study in 2014 released by Neustar, “DDos attacks are evolving in complex, dangerous ways. 60% more companies report being attacked in 2013 and a staggering 90% of those attacked are hit repeatedly.” Shockingly most companies are fighting attacks with tools not designed to defend appropriately against DDos attacks.
The probability that similar attacks will hit other companies in USA in the next months is a serious concern for authorities. These type of attacks are not going to decrease in the future; meaning we will be very much in need of cyber security companies for years to come and they will need to fight fire, with fire.
Speaking of fire; FireEye Inc. a Cyber Security and Malware Protection company, $FEYE now has an Absolute Price Breakout of a H&S Bottom and a Relative Strength (RS) Breakout vs. the S&P 500.
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We have noticed that when the Brazilian Exchange Traded Fund $EWZ pulls back to the bottom of this downward sloping parallel channel, some explosive upside moves have come in the past!
This is a monthly chart, so it is longer term in nature and requires that you wait till the end of month to act. Since it was able to regain its position at the end of last December, it looks actionable to us now.
Also is important is the fact it was able to hold a trend line that can be drawn across the 2000 top and along the 2008 bottom (highlighted by yellow arrows).
As always remember to use your stops!
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