Today’s selloff is a little troubling. It may change the weekly cycle count. Because of the large day range of 1.20 and the way it was rejected at 15.55, it prompted us to double check the weekly cycle count. We want to know with reasonable confidence about the top price at 15.55. Is it an important top that will be followed with more
The S&P 500 index has been on a tear. On a rare down day on last Thursday, February 23, 2017, it was able to close above daily pivot range. On a gap down day on Friday, February 24, 2017, it was able to completely fill the gap and closed near the all time high. It is at extreme levels of bullishness and with no ending in sight. But when we
Square Inc. $SQ could be one of those magic Silicon Valley magic stocks. It just broke out the price range for the last 15 months due to its earnings report and the prospects of growths in the areas such as business lending and point of sale, in addition to the mobile payment processing. It is not profitable yet, but the streets have given high valuations.
The energy stocks topped on the week of December 16, 2016. It has not been participating the rally at all. We recommend our readers to stay away from the sector. When the economy turns around that will lead to more activities in materials and industrial sectors, in turn it will drive up the demand for energy. The rise of energy demand
Yesterday we recommended to open 1/3 long FCX positions because of the unconfirmed reversal. Today we recommend to open the remaining 2/3 long positions. We just had an intraday price structure bullish reversal. Stoploss is 13.13.
