by Gary S. Morrow | Jun 15, 2019 | Chart of the Day, Commentary
HD closed out the week with a 4% gain. The stock is up 10% from the May lows. The drop in rates over the last three weeks has given the housing related stocks a nice jolt. We believe HD is on the verge of a breakout. The stock is bumping up against an overhead...
by Doug McKay | Jun 14, 2019 | Chart of the Day
A “W” pattern and or a H&S (Head & Shoulders) pattern on this Weekly Chart may be heading for all times highs again on a breakout above the right shoulder. Some congestion here would be good first.
by Gary S. Morrow | Jun 14, 2019 | Chart of the Day, Commentary
The Russell 2000 Index continues to lag. While the Dow Industrials, S&P 500 Index and the Nasdaq Composite moved well above their respective 200 day moving averages this week the R2K Index has remained below. A similar pattern can be found in the Dow Transports....
by Doug McKay | Jun 13, 2019 | Chart of the Day
The Grains (Corn, Wheat, Soybeans) continue to move. Beans might forming a 4th wave here with a breakout to a 5th.
by Doug McKay | Jun 13, 2019 | Chart of the Day
The long trading range (1200/1390) might be setting up to breakout.
by Gary S. Morrow | Jun 13, 2019 | Chart of the Day, Commentary
CenturyLink retested its 1994 lows last month after dropping over 60% from the 2018 peak. The stock has rebounded nicely since and is at new June highs today. CTL is bumping up against the 50 day moving average, a key resistance level since last October, as it works...
