$FDX attempting to break the 200-day MA and the declining trend-line.
Today's hot stocks watch list Long MGM Resorts International (MGM) Long Oracle (ORCL) Short La Quinta (LQ)
Technical Outlook: A significant technical breakdown played out yesterday on the S&P 500 (SPX) with price breaking down and below major long-term support at 2120. Bear flag was also confirmed by yesterday’s price move. Volume saw a notable uptick yesterday as well on SPDRs S&P 500 Trust (SPY) with volume well above recent averages. In the past, SPX
I’ve been watching with great interest to see whether Oracle (ORCL) is going to pull it together and bounce at critical trend-line support or whether it is going to break below it and eventually establish lower-lows under $40. Right now, I say it is still bullish until proven otherwise, but the window of opportunity
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Technical Outlook: Heavy sell-off yesterday that saw yet another massive afternoon bounce recovering two-thirds of the losses before the close. This was a major failure for the bears. Yet it is what’s been seen by this market time and time again over the last seven years. SPX failed to break 2039 and hold it into
Of course there should be about 15 more dead cat bounce attempts between now and the close, but I have to say, I am pleasantly surprised that the bears have the price action down below 2039. That is where it should be, but my expectations were diminishing rapidly over the past week for that
A beautiful double top much like what we talked about on 5/3 when we shorted it then. I am looking for a strong leg down here. Essentially, you a bear flag that can't push through the 50-day or 20-day moving averages. Confirmation on SPX head and shoulders pattern should speed up the downside of this
Technical Outlook: SPX experienced a hard reversal on Friday where price found buyers at and around the 50-day moving average and ultimately ended up resulting in an 18 point reversal off the lows of the day. Despite all the days of selling that was to be had last week, SPX finished just eight points lower