PHM has just recently broken away from a long sideways coiling pattern. These are the kinds of patterns we look for since they can hold the most potential for movement once a threshold is broken on either side of the range. In this case, price has moved decisively above the 4 year trading band and accordingly, we … Continue reading PHM Pulte Group
Month: March 2017
Market Indices Update
As mentioned in previous posts, all market indices had been exhibiting signs of a pause in the strong trend since the lift-off last November. We've made note of some the leading groups, such as bank stocks which showed some bearish prints over the past few weeks. Morgan Stanley, MS, used as a proxy for that … Continue reading Market Indices Update
Pharma ABBV
While not appearing in headlines every day in the financial press, big pharmaceutical and healthcare stocks have been advancing, if unevenly along with the general buoyancy of the overall markets. The chart of Eli Lilly shown below is an example of the building bullish patterns on many of the classic big pharma stocks including Merck, … Continue reading Pharma ABBV
TSLA, MS, PHX Updates
Some further updates on recent commentaries. We had observed that TSLA encountered significant resistance at the area of previous highs. What was more compelling was the weekly candle that resulted from the price activity. As we noted, it appeared to be a doji bar which indicates reluctance and indecision for prices to continue in the established direction. … Continue reading TSLA, MS, PHX Updates
XOM update
A few weeks back, we made a case that Exxon Mobil was perched at the crossroads of a very interesting technical position. Since then, the stock has both pierced slightly below the 81 area and also bounced up to over 84, only to settle back to the 81 area today. While we would have been … Continue reading XOM update
SNAP
There is no technical data on this newly minted IPO, so any comments I make are purely anecdotal and for amusement only. If you've been around the markets for a while, you will have experienced breathtaking optimism, such as we see today, or despondent weakness, as seen as recently as the spring of 2008. At … Continue reading SNAP
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