United Technologies, At Support

United Technologies, At Support

UTX left behind an ugly key downside reversal after retesting the 2018 peak on May 1st.  At this week’s low the stock is off 10% from the highs.  This pullback has worked off the overbought reading the stock reached in Q1 and May highs.  UTX is testing the top...
Soups On

Soups On

Campbell Soup is looking attractive.  A solid base is forming underneath the multi week May lows.  This week the 50 day moving average will cross the 200 day for the first time since the first quarter of 2017.  The 200 day, which capped important monthly highs in 2017...
Another Ugly Monday

Another Ugly Monday

Today is the second straight Monday the $SPY has opened with a 1% or better drop.  Overall Monday’s are notorious for weak opens.  The good news, more stocks in the S&P 500 Index are now ‘oversold’ versus ‘overbought’. Hat tip...
FedEx Update

FedEx Update

FedEx has been trading in a narrow range since late January.  The top band of this range is marked by the huge breakdown gap left behind back on December 19th.  FDX fell over 12% that day, its biggest one day loss in over ten years, on news the company was lowering...
The Best Q1 in Twenty Years

The Best Q1 in Twenty Years

What’s next? Ryan Detrick of LPL Research sums it up:  “A big start to the year historically has suggested the bulls could remain in charge the rest of the year,” explained LPL Senior Market Strategist Ryan Detrick. “In fact, 9 of the past 10 times the S&P...