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The indecisive potential reversal signals of yesterday are experiencing weakness today as potentially anticipated. The nature of today's selling is indicated by the signal/formation today. Currently the indexes are showing indecisive selling, Doji days. The index that should provide the most valuable information today is the NASDAQ. It gap down below the T-line after yesterday's left/right bearish combo. The NASDAQ is trading lower but above where it opened, illustrating buying is still present. However, it is currently trading at the T-line. It will be important to see if the NASDAQ and close backup above the T-line.UCTT is still confirming the scoop pattern breakout. AAOI should now be watched for profit-taking sell signals. … [Read More...]
Although there is not yet any consistent selling in all the market indexes, there are signs of profit-taking. The NASDAQ clearly illustrates profit-taking approximately every 4 to 5 weeks. The current signs of weakness does not necessarily mean the overall uptrend has reversed, merely profit-taking/pullback to the T-line area is in progress. Crude oil is trading higher, creating strength in the oil stocks. Gold is trading higher adding strength to the gold sector. Sectors/individual stock charts remain the prominent criteria. … [Read More...]
POPEYES LOU KITCHEN INC (PLKI)Chart for PLKIOver the next 13 weeks, POPEYES LOU KITCHEN INC has on average historically risen by 4.1% based on the past 16 years of stock performance.POPEYES LOU KITCHEN INC has risen higher by an average 4.1% in 10 of those 16 years over the subsequent 13 week period,corresponding to a historical probability of 62%The holding period that leads to the greatest annualized return for POPEYES LOU KITCHEN INC, based on historical prices, is 9 weeks. Should POPEYES LOU KITCHEN INC stock move in the future similarly to its average historical movement over this duration, an annualized return of 45% could result.Ritchie Bros. Auctioneers Inc. (RBA)Chart for RBAOver the next 13 weeks, Ritchie Bros. Auctioneers Inc. has on average historically risen by 8.7% based on the past 18 years of stock performance.Ritchie Bros. Auctioneers Inc. has risen higher by an average 8.7% in 13 of those 18 years over the subsequent 13 week period,corresponding to a historical probability of 72%The holding period that leads to the greatest annualized return for Ritchie Bros. Auctioneers Inc., based on historical prices, is 10 weeks. Should Ritchie Bros. Auctioneers Inc. stock move in the future similarly to its average historical movement over this duration, an annualized return of 41% could result.Rogers Corporation (ROG)Chart for ROGOver the next 13 weeks, Rogers Corporation has on average historically risen by 5.4% based on the past 33 years of stock performance.Rogers Corporation has risen higher by an average 5.4% in 22 of those 33 years over the subsequent 13 week period,corresponding to a historical probability of 66%The holding period that leads to the greatest annualized return for Rogers Corporation, based on historical prices, is 6 weeks. Should Rogers Corporation stock move in the future similarly to its average historical movement over this duration, an annualized return of 42% could result.Scripps Networks (SNI)Chart for SNIOver the next 13 weeks, … [Read More...]
The lack of strength in today's markets is not yet any indication there has been a change of investor sentiment, however the hard selling in the transportation index is the first signs that bullish sentiment may be waning. A trend channel is becoming more evident in the transportation index, especially after some obvious candlestick sell signals that have developed over the past few days of trading. The overall trend of the markets has not yet been altered, but be ready to take some profits on signs of weakness. … [Read More...]
Numerous talking heads, on the TV financial stations, are expecting a pullback in the market. This is usually a good sign the uptrend is still in progress. Numerous bullish chart patterns are being formed, J-hook patterns and frypan bottom breakout's. Continue to utilize the strong patterns. But be careful, keep in mind, profiting from a bull market does not mean you have become smarter. … [Read More...]