This Week On Wall Street

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INDU

INDU

Very impressive day with volume.   I'm sure the shorts were squeezed which helped.   A print above 11K and then the April highs of 11,258 would be extremely bullish.  Now we want to hold the 10,480 range (200 day). Does this mean we forget about a double dip?  No, it...

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MSFT

MSFT

Seldom do I use the "F" (fundamentals) word on this blog.  Softy has great fundamentals but I'm not seeing the potential for a decent price advance yet.  A break below 24 and it looks more like a short.

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Chart of The Day

Chart of The Day

We gave the INDU seven trading days to test 10,600 and possibly 10,500.  Today is day 2 and it traded as low as 10,640.  Not concerned on the long side unless 10,400 is breached on a close. If the Dow trades below 10,250 - I would  consider this a head fake (bull...

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Chart of The Day

Chart of The Day

A monthly chart of the bond exchange traded fund IEF shows some anticipated profit taking off the double top.  Similar to gold I believe bonds have more room to run.  Like all bubbles it could end in three months or three years.  We'll see it on a chart and get out of...

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