AAPL Sitting on Year-Long Support; Next Support 20%-35% Lower
We’ve been bearish on this name since slightly before the iphone 5 announcement and have been far more favorably disposed to GOOG as posts here, here and here suggest. With today’s decline we view the technical set-up in the stock…
Updated Analog Chart of YTD Rallies in a 4th Consecutive Up Year
Are we going to get our 1,540-1590 SPX target by YE? Charts below are updated with price action as of 10:30 AM EST and assumes DJIA 13,660. Remember, these analog charts are of the DJIA and we’re extrapolating the conclusions…...
Regional Banks May be Set to Under-Perform Larger Ones
The chart below plots the ratio of the KBW Regional Bank Index vs. the XLF. As it rises, regional banks out-perform; as it falls the XLF out-performs. The ratio is breaking below trend-line support and a multi-year consolidation pattern. That…
Continue to Reiterate that Homebuilders Likely Have More Upside & Out-Performance Left
The chart below plots the post peak price bubble analog we’ve highlighted numerous times before with prices updated through today. The black line is the S&P Homebuilders Index. Our ongoing thesis has been that it will ultimately reach ~50% of…...