"Everyone has a plan 'till they get punched in the mouth" - Mike Tyson

April 03, 2013

Charts of Interest 4/3/13

IWM sure appears to be in the second half of a head and shoulders top.  If it plays out the clear area to target is the New Year's gap.  Regardless the support line at 89 looks is important.  Note ADX curling up and getting ready for a fresh trend.


GOOG appeared to break a down trend with a nice gap up yesterday.  However, today the stock has given up most of its gains.  Action in the gap area will tell us a lot over the rest of the week.


NPSP has shown some great relative strength during this market weakness.  Can it break out when the selling stops?


TSLA has dropped like a rock since the great sales numbers posted Monday morning.  Reports are out that they tried to push sales orders to pad their numbers.  Now we have this big gap with price cratering right into the previous highs.  What the stock does around the gap area can give us plenty of information about future direction.  


VRNG has had a heck of a day with tons of volume pouring in.  Will this thing finally break above and beyond its flat 200D moving average?  There are some decent technical signs popping up.  


I thought we should join the cryptocurrency fever.  Instead of buying bitcoins after their huge run, we decided to take a gamble on some speculative Jcoins.  As you can see they are in short supply and I'm the only dealer :)

They go for 5 bucks a pop.  Somehow this market will self sustain (maybe).  Worst comes to worst, you can at least tell your wife you only lost 5 bucks per coin versus 140 dollars per bitcoin.  ;)  



Haha all jokes aside, pogs were pretty cool for kids back in the mid 90's.

Any comments or questions give me a shout @a_jackson on stocktwits or @atmcharting on twitter


  


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All ideas shown on this blog represent the authors opinion based on the data available.