Today’s Chart of the Day was shared on Twitter by Mark Newton (@MarkNewtonCMT). It is a weekly candlestick chart of General Electric ($GE). The stock suffered its worst day in over a decade today, falling 11.30% after Madoff whistleblower Harry Markopolos accused the company of accounting fraud. Mark points out that price began to break down […]
Easy as Yuan, Two, Three
All the talk on Monday was over the development of the Chinese Yuan falling drastically against the US Dollar. For some, this is a huge deal because they get to tie it to some political headline about Trump, tariffs, trade tensions, etc. But for technicians it’s a big deal because the 7.00 level in the […]
Bearish Undertones
“Risk happens fast.” Or whatever the smart alecks in the media and Twitter say. But it is hard to deny that there are some bearish undertones to the market these days, at least over the short term. Is it because someone Tweeted something? Is it because of interest rates? Is it because of the US […]
Chips Ahoy!
One particular area of the market that has gotten a lot of attention in the last 24 hours is Semiconductors. And as we know, strength from this group – both relative and absolute – is considered to give a bullish tone to the overall equities market. In fact, some have argued that Semiconductors are one […]
“Gold”-ilocks and the Three…Bulls?
The “bugs” are getting giddy. Could an 8-year drought in returns for Precious Metals finally be coming to an end? There is no definitive move yet, but many seem to be quite anxious about the recent moves we have seen in both the metals themselves and their mining counterparts. The most popular chart that we […]
