USTT stock breaks out and starts consolidation This is the ‘After’ part of my ‘Before and After’ feature on USTT. As it turns out USTT did move out of the ascending triangle pattern and it also did so with sufficient volume to make it a valid breakout. USTT moves 37% from ‘Steam Kettle Pattern’ Everything … Read more
The chart you are about to view below looks a little bit like a children’s drawing. Of course it is not a children’s drawing, but instead a quarterly price candlestick chart of the US Dollar index, the ‘stock of the United States’. Quarterly price charts are obviously slow moving, it takes 3 full months just … Read more
Unfortunately I have to raise the white flag on the near term bear case right now. I expected the market to show near term significant weakness. The bears once again failed at their job. I am very concerned now about a huge upside move in the market. The QQQ has been very resilient. The bear … Read more
Today was a double inside day when we look at the last 3 candlestick bars. Basically what it means is that the market is compressing into a triangle and a huge move is about to occur either up or down. After reviewing some charts, especially the financial stocks I am starting to get cold feet … Read more
Technical glitches have prevented me from posting this in a timely enough manner, but here it is. The stock I am selecting as a ‘Best of the Best’ setup is SCON Superconductor Technologies. They are set to release earnings on http://biz.yahoo.com/cc/9/120889.html (March 10, 2011 at 11AM Eastern Time). My thinking is that SCON could be … Read more
Both NPTN and JDSU look like good momentum trade candidates. NPTN is an recent IPO that seems to be building an ascending triangle. NeoPhotonics Corporation is a designer and manufacturer of photonic integrated circuit (PIC)-based modules and subsystems for bandwidth-intensive, high-speed communications networks. JDS Uniphase Corporation (JDSU) is a provider of communications test and measurement … Read more
Chinese stocks have been somewhat sloppy lately but of course it depends on the stock and industry. Some of them have been high flyers. Still, the Shanghai Composite Index long term chart depicts a picture of more consolidation in 2011 which could lead to much more bullish action later in 2011 and then into 2012. … Read more
The sp500 has once again printed today another indecision candlestick, a long legged doji. We now have quite a large cluster of these indecision doji’s and other candlesticks that so far are only really saying that we have reached a pause in the up trend that began in early September 2010. At this point I … Read more
At Mid Day the sp500 is trading flat showing nothing dramatic or shocking. It appears that this will continue to be the case by the end of day today. Sometimes I have written posts half way through the market trading day and then by end of day the exact opposite occurs to what I was … Read more
The SPDR Gold Trust (ETF) appears to be close to a weekly confirmed MACD histogram buy signal. The GLD ETF needs to get a weekly close tomorrow above 118.42. Currently it is trading at 118.56. A confirmed weekly buy signal on the MACD histogram tomorrow would in our view be very significant as we are … Read more