by Gary S. Morrow | Oct 17, 2018 | Chart of the Day, Charts
It’s been a rough year for Eastman Chemical. After moving well into new all time high territory during the first quarter the stock began a three month consolidation. By late June the lower band of this pattern began to give way. In late August, shortly after...
by Gary S. Morrow | Oct 15, 2018 | Chart of the Day, Charts, Options
American Airlines ended last week with a seven day losing streak. Over the last eleven sessions AAL has managed one gain. Today shares are beginning to lift after returning to oversold territory. At this morning’s early low the stock was down nearly 30% from...
by Gary S. Morrow | Oct 14, 2018 | Chart of the Day, Charts
The TNX(CBOE 10-Year Treasury Yield Index)is bumping up against major resistance and is extremely overbought. And there’s this: Stocks Versus Bonds It’s quite likely October will continue to be a rough month for stocks. Bonds are set up for a huge...
by Gary S. Morrow | Oct 13, 2018 | Charts, Market Update
So goes the old adage. Currently the LEI(Leading Economic Indicator Index)is trending higher. Broad stock market weakness while the LEI index is in an uptrend have proven to be short term corrections. Simply based on this historical relationship, a buying...
by Gary S. Morrow | Oct 12, 2018 | Chart of the Day, Charts, Market Update, Options
Applied Materials has had a rough go since the mid March highs. After putting in lower monthly highs in mid April and mid May the stock took a nasty post earnings spill(-8.25%)on May 18th. AMAT mounted a slight rebound before turning lower in early June after...
by Gary S. Morrow | Oct 11, 2018 | Chart of the Day, Charts
Shares of Nike were under extreme pressure yesterday. The stock closed with a 6.8% loss, its biggest one day drop since late March of 2017. This damaging breakdown extended last week’s clear violation of the 50 day moving average which had earlier held the...
