by Gary S. Morrow | May 25, 2019 | Chart of the Day, Charts
Over the course of the year the S&P 500 Index usually undergoes three corrections of 5% or more. As we get closer and closer to mid year, we haven’t had one yet. The ‘headlines’ are certainly scary at times, panic sells. In reality, there is a...
by Gary S. Morrow | May 24, 2019 | Chart of the Day, Commentary
Honeywell began to consolidate a week after its powerful post earnings breakout. This healthy action has dropped shares down to a very solid support zone. This key area includes the high volume breakout gap left behind on April 18th(earnings). Also here is the...
by Gary S. Morrow | May 24, 2019 | Chart of the Day, Commentary
UTX left behind an ugly key downside reversal after retesting the 2018 peak on May 1st. At this week’s low the stock is off 10% from the highs. This pullback has worked off the overbought reading the stock reached in Q1 and May highs. UTX is testing the top...
by Doug McKay | May 24, 2019 | Chart of the Day
The gray lines depict levels of support of which many have been recently broken.
by Gary S. Morrow | May 24, 2019 | Chart of the Day, Commentary
Shares of Eastman Chemical have had a rough go since reporting soft earnings in the first quarter. The stock has lost ground for five straight weeks since and is now approaching the 2018 Christmas week lows. Is a low risk entry opportunity developing for patient...
by Doug McKay | May 23, 2019 | Chart of the Day
Is Ford just filling a gap – or is more downside ahead? Answer: Don’t know.
