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

April 04, 2013

Charts of interest 4/4

XHB relative strength is near a rising channel break.  Note RSI has been signalling a weakening trend for quite some time.

The furnishings index had broken out of a broadening pattern, and now seems destined to test the upper boundary.  It had a nice break out, but this week has engulfed over a month of price action.

XBI double top?  This is Biotech ETF has under-performed big time lately.  That gap filled quickly and appears to be exhaustion.  The 50D will tell us the story.

LQD/TLT really never could clear the major pivot area since the 11' bottom.  This seems quite bearish for equities or at least signals a top for now.  If you have any thoughts chime in!

Nike held up tremendously as the market sold off.  Now the 10 day moving average has caught up to price.  A push higher here could really get that 200 day turning up.

JCP quickly reversed some divergences at the lower bollinger band with a double bottom in price.  We like this one and are considering adding long exposure (not a recommendation, more of a disclosure).

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