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 Gary S. Morrow | Jun 15, 2019 | Commentary
From Strategypage.com: U.S. and Italian Air Forces aircraft consisting of F-35 Lightning IIs, F-16 Fighting Falcons and a B-52 Stratofortress, fly in formation over the Adriatic Sea during exercise Astral Knight 19, June 4, 2019. Astral Knight is an exercise taking...
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 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...
by Gary S. Morrow | Jun 12, 2019 | Chart of the Day, Commentary
Shares of GE are heading for their best June close. The stock is up 1.8% and is beginning to put some distance on the 200 day moving average. At today’s early highs, GE has not been this far above its 200 day since the first quarter of 2017. This week the 50...
by Gary S. Morrow | Jun 12, 2019 | Chart of the Day, Commentary
Shares of Bristol-Myers Squibb may be setting up for a fresh rally leg. In general large cap pharma names are performing quite well in the early going. Merck is heading for new highs, JNJ is a top gainer as well. BMY is up 1.2% at mid day as it begins to put some...
