Twitter, Inc (TWTR) and Intel Corp (INTC) got trounced Friday. TWTR was down 20% and INTC lost 8.5%. If you own either one of these and you're not sure if you should sell, hold or buy more send me an email if you would like my chart thoughts. We don't own either one... I recommended selling INTC a few weeks ago. Twitter, Inc (TWTR) daily Intel Corp (INTC) daily The S&P 500 Index had another good week. That makes four up weeks in a row and the first weekly close above r … [Read more...]
Buy Alerts and the Facebook Flush
Many of you have been with me since I began providing research and buy/sell signals in 2011. As you know I have been recommending staying long the S&P 500 index for the past seven years. My most recent SPY (S&P 500 ETF) recommendation was to buy more on June 28th at support (269). Price has since popped about 5%. Price is up 136% from my first recommendation. Current price action is still bullish in spite of Facebook getting its face ripped off today. By the way, hold Facebook (FB). … [Read more...]
How is the S&P500 reacting to resistance?
Price action was very muted this past week considering we spent most of the week right in the middle of resistance. Where have all the sellers gone? Have they been covering on the way up? SPY closed just below resistance on Friday but with little selling. This is a really important price zone that keeps failing (see chart) but the good news is that the selling at this level keeps getting less severe at each attempt. Price action has all the signs to take it up and through this resistance … [Read more...]
Are Apple, Google, Facebook, etc driving the bull market?
There sure has been a lot of talk about how Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Microsoft (MSFT) and Facebook (FB) are driving the S&P 500 index. Check out this comparison chart...daily from late 2017 to current. It's a chart of the S&P 500 index with each stock equally weighted...RSP S&P500 Equal Weight ETF (RSP) daily The white line is the S&P 500 index with reverse weighting...RVRS The yellow line is the cap-weighted S&P 500 index...SPY Not … [Read more...]
On the Verge
Being on the verge is always good. Isn't it? My buddy, let's call him Virgil, has been on the verge of golf greatness for months. Mostly good solid shots tee to green with just a handful of errant results. According to Virgil, let's call him Virge, being on the verge is always good. He explains to me that when you go past the verge (into greatness) you are on the precipice and it's easy to fall. When you go backwards from the verge you basically suck and you want to be on the verge again. … [Read more...]
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