Category Archives: Technical Analysis

Russell Turns Up

The Russell 2000, which was selling off while the S&P500 was making new highs, is behaving better and worth watching here as it has turned up before the other indices (see chart).  Whether this is just short covering or a … Continue reading

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Nasdaq Key Technical Levels

The Nasdaq is holding up better than the S&P500 and Dow, off only 3.37 percent from its recent high, and yet to test its 100-day.  The index has even yet to break its 38.2 Fib retracement of the April 15 … Continue reading

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Showtime for the S&P500

It’s showtime for the S&P500, which managed to hold and bounce from its 100-day moving average today.   The bulls must continue their defense of the November 2012 trendline and the 50% retracement at the 1895-1900-ish level.   Would love to see … Continue reading

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Nasdaq and Russell 2000 Bounce Off 100-day SMA

(click here if charts are not observable)

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Sector ETF Technical Analysis – February 21

(click here if charts are not observable)

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Tesla’s Head & Shoulders Formation

Tesla (TSLA)  looks to close below its 50-day moving average today, the first close below its 50-day since March and its big move up (see chart).  It is also testing the $160 neckline of a potential head and shoulders reversal.   … Continue reading

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Trannies and Russell Break 50-day SMA

The recent weakness in the Transports and the Russell were confirmed by today’s sell-off in the S&P500.  Let’s see if they can reclaim 50-day and if all the buyers waiting for the sell-off step in here.  Note also the weakness … Continue reading

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United Healthcare’s Gravestone Doji

It will be interesting to watch how UNH trades tomorrow after carving out a classic gravestone doji today.   At today’s high the stock was up almost 20 percent from its February close.    The books say today’s pattern sets up … Continue reading

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Chart Gazing

Let’s take a look at the sector ETF charts. Most still look like they are just beginning a correction of the almost vertical move since the beginning of the year.   Only the financial ETF has successfully tested its 50-day.  The … Continue reading

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FAA temporarily grounds Boeing 787s, stock hammered in AH

The Federal Aviation Administration just announced it will ground the Boeing 787  Dreamliner passenger jet after another battery failure that forced an emergency landing in Japan.   They gave no details on how long but said the lithium ion batteries were … Continue reading

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