JPMorgan Chase (JPM)

I'm not a big fan of streaks when it comes to stocks I mean it is nice while it lasts, but like any financial instrument that is rallying, eventually there needs to be a pullback and on Friday you got one with a whopping 0.04% pullback on the Nasdaq.  How amazing, right?  That is the

Similar price action to yesterday. I think there is a good chance that we see more of the same kind of sideways to slightly bearish trading action. Of course on Thursday you have the James Comey testimony, and I’ll refrain from calling it a big “nothingburger” because I refuse to say something just because that

Today’s hot stocks watch list Long KLA-Tencor (KLAC)

Three trade setups to watch today Big vote in the House today (or it may not even happen at all) on the ObamaCare repeal-and-replace. Whether it happens or not will no doubt affect the trajectory of the market today and tomorrow. Right now, they are saying that Trump is short a few votes in his

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Technical Outlook: Strong follow through yesterday as stocks have now rallied 65 points since last Thursday. That is impressive and considering how tight the price range previously was – it’s a monster move.  Three weeks of losses that concluded in mid-May is now completely wiped out in just three trading sessions this week. That goes

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Technical Outlook: Extremely dovish and extremely unexpected FOMC Statement yesterday that cut the yearly outlook of 4 additional rate hikes down to 2 additional rate hikes.  As a result, Yellen, by cutting the number of rates for the year, essentially gave the market the equivalent of two rate cuts yesterday.  Be careful today, because a

Technical Outlook: Dip buyers remained in control yesterday and rallied the market after the morning sell-off, to hit new intraday highs on the current rally.  Though the rally is still steep, it is starting to flatten out some.  A lot of resistance exists between 2020 and 2040 going forward and will pose difficulties for the

The big banks appear to be setting up for a bigger move here. I am already long in JP Morgan (JPM), but all four of these charts are posting solid reward/risk ratios with the potential to break higher any day now.  Take a look at each chart, you’ll see that over the past two