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Charts Of Interest 4/4/13

|Includes:J.C. Penney Company Inc. (JCP), LQD, NKE, TLT, TPX, XBI, XHB

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 bearish for equities doesn't it? At least in the short term if this is the new upper boundary. If you have any thoughts chime in.

Nike held up tremendously as the market sold off(actually the whole retail space has acted pretty well this week). 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).

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in JCP over the next 72 hours.

Additional disclosure: I may short an XHB component in the near future.

Stocks: JCP, NKE, LQD, TLT, XHB, TPX, XBI