GOOG Up 9% Since Our Bullish Post Two Weeks Ago
On 9/12 we had a bullish post on GOOG and noted it’s time for out-performance was likely near given a strong technical and seasonal set-up (GOOG has only had one down October out of eight in its entire trading history and average…
Chicago Fed National Activity Index Negative for Six Straight Months for First Time Since September 2007; What’s it Mean?
With its reading of -0.87 in August, the Chicago Fed National Activity Index (CFNAI) has now printed in negative territory for the six consecutive months. This is the first time we’ve had six consecutive negative prints on the index since September…...
Spread Trade Opportunity in Smartphone Space
The chart below plots RIMM in the top panel and the ratio of RIMM vs. NOK in the bottom panel. The ratio has fallen to support line (1). At the same time, RIMM is hanging by a thread at support…...
These Apparel Retailers Face the Stiffest Long-Term Resistance
The chart package below includes a bunch of apparel retailers that face some decent resistance. If you’re looking for under-performers we’d prefer the names with the longest-term resistance at hand (i.e., FL faces all-time highs dating back to 1987) and/or…...
Apparel Retailers Face Resistance as a Group
The chart below plots the DJ Apparel Retailers Index. The index faces resistance line (1) which has marked cyclical highs for the group in 2000 and 2007. Until the index can take this resistance to the upside, we’d think this space…
Are Silver’s Best Days Ahead of It?
We struggle with silver. We know some see it as a currency, like gold. As such, QE and central banker largesse around the globe, which will likely go on ad infinitum, should naturally benefit the metal. However, at the same…...
Getting Granular – Equities Currently Testing the Veracity of Their Recent Up-trend
By veracity we mean truth. The chart below highlights the SPY on a 60 minute basis over the past year. Note the level of the RSI at (1). With this week’s selling it sits at a level that is typically…
Ratio of Gold vs. Silver Sitting on Support that Has Tended to Coincide with Silver Tops Historically
The two technical set-ups in this post could make for some firecrackers, er, fireworks, in the metals space in the near-term. In the chart below the ratio of gold vs. silver has fallen to the combo of support lines (1)…...
Gold Faces its First Significant Test of Resistance Since Rallying 15% off its $1,525 Low
Over the past few months gold has rallied ~15% off its lows of $1,525. That rally has taken it up to two important resistance areas in the chart below including lines (1) and 61.8% Fib resistance formed b/t the metal’s…
Crude Appears to be Fading Somewhat Aggressively at Resistance & In Context of Seemingly Bullish Headlines
The chart below plots crude on a weekly basis. The commodity appears to be fading rather aggressively (i.e., -550 bps on the week so far) at the combination of resistance lines (1) and (2) drawn off its 2012 highs and…