NEM Another Gold Miner Looking Very Bullish

NEM also has its own break out setup ready for commencement.

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It wouldn't take much broad market negativity to kick-start a run higher on NEM.

Trade well my friends

Alan

GDX - Big Triangle Sitting On Lower Channel Line

GDX has spent the past year and a half building a perfect triangle on the lower line of its four year blue channel.

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It's quite possible that GDX could be the flavor of the month for January through February and March.

Trade well my friends

Alan

EEM Looks To Keep Its Bullish Chart

EEM, Emerging Markets ETF, appears to be at a double resistance level with its upper green channel line and its center blue channel line.

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Examining the price bars closely, we see that it has instead been building a bullish price pattern and closed at the high of this week's bar lending to the argument that it could be about to break out of both channels if the US stock market turns sour in the first quarter.

Trade well my friends

CSCO Over Does It

Several weeks ago, CSCO rocketed up like it was the 1999 dotcom bubble again.

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Unfortunately, it is an odds on favorite to experience some pain here shortly.

Trade well my friends

Alan

ORCL Continues the Slow Controlled Drift Lower

ORCL is obviously pulling back from the upper line of its black master channel but in an orderly fashion.  

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If you are quick you can make some dollars each time ORCL darts from the lower red line to the upper red line of its descending channel.  The big decision point will happen in a couple of months when the red line and the blue line and the black line all converge.

Trade well my friends

Alan

WMT Clinging To Its Upper Channel Line

WMT had an amazing spike here recently that took it up to its upper brown channel line and is now all but refusing to let go of it.

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If the upper red channel line was a little steeper and closer, it might try to consolidate sideways over to it but that seems like too much to ask for.

Trade well my friends

Alan

DAL Looks Done

Delta Airlines on the other hand just stalled out at its upper blue trend line for the fifth time in the past three years.  

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If history serves, DAL may be about to experience a downdraft.

Trade well my friends

Alan

UAL About To Begin a Move Up?

UAL just put in a double bottom on its long term black channel line and is moving up from it.

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If it can break $70 then channel recovery play alerts should go off (regaining blue channel) and we may have a runner.

Trade well my friends

Alan

HD - Stick a Fork In It

HD recently took off blasting through channel lines and it is up in the atmosphere now.  

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A lot of investors will be betting that this stock will find gravity for the first time in a long time.

Trade well my friends

Alan

UPS Is A Mixed Read Here

The past few months UPS has been lingering in the upper part of its blue channel seemingly waiting for the journey back down to the lower line of the blue channel.

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Last month, however, UPS had a huge spike up from the lower red channel line but immediately gave a great deal of it back whipsaw fashion.  It is currently trying to consolidate on top of the upper line of the brown channel but still not giving a read on what comes next.

Trade well my friends

Alan

GE Close To a Reversal Upward?

GE has sold relentlessly for the past year slipping through channel after channel.

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GE has finally settled down on a channel line that looks like it might be able to hold.  With just a little bullish price action for a few weekly bars, GE might very well join its old dog stock buddy IBM in a renaissance  rally if the broad market gets ugly in the first quarter.

Trade well my friends

Alan

MA - Indigestion Ahead?

MA has one beautiful chart going all the way back to the beginning but now it is starting to appear that it may be done for a while.

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You could say that the only thing keeping MA where it is at are bullish hopes.

Trade well my friends

Alan

BABA Has Lots of Air Under It

BABA ran strong all year but began breaking down a few weeks ago and now finds itself weak and well above its dominant channel (show with blue lines).

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BABA really doesn't have any support lines or short term channels to help it if it starts heading back to its blue channel.

Trade well my friends

Alan

IBM Beginning a Run?

IBM took a nasty fall the first half of the year but after bouncing off the ceiling of its long term brown channel it immediately popped out of its descending blue channel again.

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As energetic as IBM has looked for the past several weeks, it may be positioning itself as a contra-market play if the broad market of stocks sell off in the next few months.  IBM is obviously determined to regain its long term ascending black line channel which is an exceptionally tall channel.

Trade well my friends

Alan

BIDU Holding Steady At a Neutral Bias

BIDU has spent the past month basing on its center line of its long term master channel (shown with black lines).

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A lot of stocks that are selling are going right through the center line of their primary channels.  BIDU has spent the past five weeks defying the lower half of its channel.  It is one to be watched.

Trade well my friends

Alan

SNAP - OUCH!

SNAP took a smack down last week that may take a little while to recover from.

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There's not much bullishness to be found in SNAP's chart right now outside of the hope that if it falls lower down to its blue channel line that it will stay out of it.

Trade well my friends

Alan

DIS Done For Now?

Disney has been trading in a perfect descending channel for the past 2.5 years (shown with red lines).

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In the long run, this channel may end up proving to be a bull flag / pennant.  In the short run, however, the upper red trend line that has four marker points now is showing to be a firm line.

Trade well my friends

Alan

MGM Looks Determined At Breakout Level

Over the past nine months MGM has been repeatedly trying to get back into its 2004 to 2008 black line channel.

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After its first few tries failing, MGM found support again at the bottom line of its red ascending channel and looks to be holding right underneath the black line channel now.  This just might be the breakout that goes.

Trade well my friends

Alan

WYNN Looking Strong

Wynn Resorts has been running for an entire year and has recently broken out of its 2-year blue line ascending channel without maxing out in its one year red line channel.

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If WYNN wants to declare the red channel as its dominant channel it needs to consolidate sideways on the top of its upper blue channel line then morph into a bullish price pattern that it can lift from.

Trade well my friends

Alan

LVS Stil In 2-Year Ascending Channel

As LVS has climbed higher over the past two years it has become more aggressive as each time it stops at its upper red channel line it has a smaller pullback before it starts back again.

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Obviously, right now LVS could have a pullback.

Trade well my friends

Alan

RIG Nothing To Get Excited About Right Now

RIG has spent the past two years at the bottom of its chart.

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While there is still some money that could be made in RIG's current red channel, serious investors will have to see it break free of the red channel before going back in.

Trade well my friends

Alan

CVX Maintains Its Bullish Chart

CVX continues to climb higher off its double trend line reversal this time last year.

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While CVX is obviously ahead of itself the past couple of weeks investors will be looking for it to consolidate at its lower line of its red line 1-year ascension channel and once again push higher.

Trade well my friends

Alan

CHK Exists It's 1-Year Declining Channel

CHK has now exited its 1-year declining channel but we can't exactly call it a breakout.

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CHK is more of a multi-month sideways stumbling that is creating a new super small horizontal channel that will give it its break out level if it happens.

Trade well my friends

Alan

XOM Struggling With $84 Shelf

While XOM recently bottomed at its 13-year ascending channel's lower line (shown in black) and it has also declared itself free of its 11-year descending channel (show in brown) it keeps finding resistance at its $84 level over the past year.

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It can be argued that the past year's trading is basically a large inverted head and shoulders pattern but it will need a convincing breakout when the $84 resistance has been there for nearly a year.

Trade well my friends

Alan

VLO Looks Overdone

VLO has had a great run after its bull flag breakout earlier this year (shown with brown lines) but now appears to be overextended.

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If you measure the height of the flag channel you can see that the run has exceeded the standard measure for that height flag.

Trade well my friends

Alan

The Big Picture - S&P, NASDAQ, & XLK

It seems that the big financial managers are having trouble spotting a bubble in the stock market right now.  See if you can find it:

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A more detailed chart with the exact numeric extensions can be found in my December 20th posts.

Trade well my friends

Alan

CAT Still Ripping Higher

Caterpillar has been a rocket the past few months and continues to gain steam.  

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Investors might want to keep a close eye on CAT if they're long as it's nearly running vertical and at some point will likely turn sideways and consolidate into its red channel which it needs to do in order to justify its continuing move higher without looking overbought.

Trade well my friends

Alan

FSLR Breaks Out of 8-Year Declining Channel

FSLR recently broke out of its eight year long declining green line channel.  The breakout immediately put FSLR up against its four year horizontal blue channel.

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FSLR is currently consolidating under the upper blue channel line.  If it breaks above the blue line with a good day or with the help of the red line channel after multiple weeks of consolidation, trading alerts may trigger that there is a channel recovery play in progress as it could make a run to reclaim its ascending brown line channel.  

Trade well my friends

Alan

FCX Breaking Out

FCX, a well known mining company, is currently breaking out of its already inclined 2-year red channel.

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On FCX's quarterly bars chart, it has somewhat of an ascending triangle price pattern visible.

Trade well my friends

Alan

AKS Near a Breakout

AKS, another steel stock, is attempting to break out of its 9-month declining channel (shown in red).

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A breakout from the red channel will likely be a slow climber unless it regains the green channel and then it could get interesting.

Trade well my friends

Alan

X Breaking Out

United States Steel has just broken out of its 8-year declining channel (shown with blue lines).  

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X's chart is quite tall numerically and while its black line channel is its master channel, it has multiple inclining channels to play in if FAANG and tech stocks start to roll over.

Trade well my friends

Alan

LOW Working Its Bullish Chart

LOW has been a nice swing trading stock over and over the past few years as its sideways consolidation is a nice tall channel with considerable incline.  

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Recently, however, LOW appears determined to make its very bullish six year blue channel its dominant channel once again to reward its investors.

Trade well my friends

Alan

SBUX Fails BackTest of 6-Year Channel

Earlier this year, SBUX did the unthinkable and dropped out of its 6-year ascending brown line channel.  

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Since then, SBUX has consolidated sideways and mounted a charge recently to get back into the brown line channel but was slapped back down the moment it touched it.  This is a classic failed backtest of a multi-year channel loss.

Trade well my friends

Alan

CMG Experiencing Whipsaw Price Action

Investors are not sure what to do with CMG right now.  The bulls argue that CMG slipped out of its ascending black line bull channel while the bears say the situation is worse as CMG slipped out of its downhill blue channel.

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While CMG looks to have lost its black channel, it appears investors are satisfied with a somewhat neutral view of keeping inside the blue channel although, it is a steeply descending channel.   Note that at some point in the next few months the ultra steep red channel is going to try to push it out of its blue channel if CMG trades sideways here for a while.

Trade well my friends

Alan

MCD Continues Chugging Along

MCD, the new favorite of the slow and steady money crown over the past nine months, continues to work its way higher, slow and steady.

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Although MCD is turning upward in this week's bar, it would be better for it to go sideways across its red channel here and then build a solid bullish consolidation on the red line for a few weeks giving it legitimate reason to push higher.

Trade well my friends

Alan

TWTR Retreats From $25 Again

TWTR continues to cement its horizontal blue channel, which has a ceiling at $25, with it charging up to this number then retreating just as fast.

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TWTR has to keep itself from dropping back into the red channel somehow, or investors will check out for a while.

Trade well my friends

Alan

AXP Looks Seriously Capped at $100

AXP has had a nice run the past two years from the lower line of its extremely tall five year blue channel.

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In the past month, AXP has finally hit the upper line of its blue channel, printing a shooting star at the $100 level and it appears to be stalling.  It would take a very positive event to break AXP out of the perfect box established by the blue channel for the sake of getting back into its 2004-2007 channel above.  The lines of the blue channel look resilient.  

Trade well my friends

Alan

BX At Critical Juncture

BX has spent the past nine months pretty much boring investors with its sideways slightly downward drift.

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In the past month, however, BX has set up a solid stance on the lower line of its 1.5 year inclining red channel.  BX can't sit there like it is too long without starting upward or investors will start gradually looking for the exits.

Trade well my friends

Alan

MS - The Most Bullish Of The Big Financials Charts

MS has spent the last eight years in the dog house - its lower chart brown line channel.

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MS really looks like it wants to reclaim its upper black line channel that goes back to 2003.  However, MS is at a critical point at the moment as it would be good if it stayed on the topside of its blue channel and declared it no longer the active channel leaving it and continuing to climb its red line ascension channel into its large black line channel above.  Granted all the financials could become weak and drift lower at the first of the year after across the board six month record runs, MS could survive this and continue higher even if it loses its blue channel because the lower line of its red channel is just below and  could give it a second chance to go higher.

Trade well my friends

Alan

USB Continues Yearlong Sideways Drift

USB had an amazing run the Fall of 2016 and maxed out its upper blue channel line.  Since then it has been drifting sideways across its blue channel.

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Looking closely we can see that USB actually bounced from its lower blue line midyear but fell back then bounced again from the juncture of its lower blue line and its upper brown channel line giving the second bounce a little more punch but when it reached the lower line of its 2004 to 2007 black line channel it started to give it back again.  USB just can't seem to get out of its own way.

Trade well my friends

Alan

AIG: Decision Time Is Near

AIG has essentially been trading in its blue sideways channel for the past four years.  It has now reached the lower line of its big recovery channel from 2009 (shown in black).

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Investors will be forced to make a decision quickly if AIG slips through that black line again as it did a couple of weeks ago especially if it shows no inclination to jump back up into the its primary black channel.  With both AIG's brown and blue channels heading sideways it's most likely that the black channel will be lost in the next couple of months if not sooner.

Trade well my friends

Alan

WFC Approaches the Upper Line of Its 15-Year Channel

WFC broke out of its 3-year declining brown channel recently and made a quick run almost to the upper line of it 15-year green channel.

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While WFC could go a little higher and trade sideways at this upper line for some time, history says this is a froth channel and the big black channel below it is its dominant channel.

Trade well my friends

Alan

JPM Reaching Maximum Extension?

JPM has been climbing aggressively in the last six months.

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Its sudden blast higher last month has been drifting sideways in that past few weeks producing a price pattern that is typical of a blow off top.  It's likely JPM will have to retest the $100 level about the time the lower red channel line passes through that $100 level.

Trade well my friends

Alan

C Double Tops At 8-Year Chanel Line

Citigroup has maintained a nearly perfect two year ascension channel (shown in red).  I'm only showing the past seven years due to auto scaling issues from C's long term chart.

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While C also operates in a wider black line channel, you can see that the upper line of the blue channel is key and it just double topped at that line in the past three months and posted a shooting star on the second peak of the double top.  This is not bullish.

Trade well my friends

Alan

GS Looking Capped Here

GS has had a nice 6 months but a couple of weeks ago it reached the upper blue line of its eight year recovery channel at the same time it reached the upper line of its ten year black channel.

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GS broke through both channel lines briefly but is currently back down inside.  Investors are hoping its four year red ascension channel will continue to be the dominant channel and take it above the other two channels.  We will have to see.

Trade well my friends

Alan

BAC Reaching For Long Term Channel Line

BAC has been pushing the last six months inside of its two year blue ascension channel.  BAC is also approaching the upper line of its eight year black line channel.

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This upper channel line was well established in 2009 ad 2010 so it will be scrutinized as it approaches the line again.

Trade well my friends

Alan

FNSR Needs To Consolidate Here

FNSR has had a rough year as it has suffered from a yearlong slide.  A couple of weeks ago it finally touched down on the brown shadow channel line below its primary blue channel and rocketed back up.

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After such a tall spike, FNSR needs to consolidate here or investors will be leery of getting caught in whipsaw volatility.

Trade well my friends

Alan

QCOM Working Its 2-Year Sideways Channel

QCOM enjoyed a massive breakout a couple of months ago from its 3-year declining blue channel right as it was sitting with an aggressive posture on the lower line of its 2-year sideways green channel.

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The big pop stopped right at the upper line of QCOM's green channel like clockwork and such a fierce pop would normally cause multiple weeks of pullback and a drop but this past week QCOM is tempting investors to hold as it starts to setup on the lower line of the red, almost vertical, tube channel.

Trade well my friends

Alan

MU May Have Overdone It

MU, Micron Technology, really had a run the past 6 months as it tagged $50 but immediately suffered a hard pullback the past couple of months.  

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Such an exaggerated surge and pullback could keep MU's trading quite volatile for a while but as long as it stays topside of its red line channel, it's still game on.

Trade well my friends

Alan

NVDA Still In Its Steep 2-Year Channel

NVDA, another powerhouse chip stock, has maintained a much stronger chart than AMD over the past 6-months.

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NVDA caught good support a couple of weeks ago and bounced a little but gave it back this past week.  The argument can be made that NVDA could be sagging from extreme low volume due to the holiday.  

Trade well my friends

Alan