by Gary S. Morrow | Sep 19, 2019 | Chart of the Day, Commentary
It just might be here, right on time. $3020.00 area capping back to back weekly highs. The push to new highs may be losing momentum. Hat tip Ryan Detrick.
by Gary S. Morrow | Sep 19, 2019 | Chart of the Day, Commentary
Wells Fargo is setting up for a fresh rally leg. Wells Fargo is spending more time above the 200 day moving average of late. Its been over a year since the stock closed out a week above this long term indicator. With today’s nice gain WFC is heading for its...
by Gary S. Morrow | Sep 19, 2019 | Chart of the Day, Commentary
The Federal Reserve has begun a new easing cycle with two 25 basis rate cuts. This has proven to be quite bullish for stocks. The last five similar cycles proceeded to big moves in the S&P 500 Index. On average, +9.7% six months later, +16.7% one year later. Hat...
by Gary S. Morrow | Sep 17, 2019 | Chart of the Day, Commentary
At last month’s low TXT was down over 40% from its 2018 highs. Shares of Textron have rebounded nicely off the August lows. One month after a disappointing Q2 earnings report,...
by Gary S. Morrow | Sep 16, 2019 | Chart of the Day, Commentary
Third largest one day gain in WTI Crude Oil history. The Crude Oil ETF finished the day with its best gain ever(+12%). Upside volume was at levels not see in years. Hat tip Charlie Bilello
by Gary S. Morrow | Sep 16, 2019 | Chart of the Day
Good news, right? Hat tip Real Time Economics
