AaronJackson's  Instablog

AaronJackson
Send Message
I'm a swing and position trader using stocks and options. I'm also a new market technician trying to get my name out there and help folks at the same time. CMT level 2 candidate. I use fundamentals to find the best companies I can. Then I put them in a list and wait for big time technical... More
My blog:
At the Money Charts
  • Charts Of Interest 4/4/13 0 comments
    Apr 4, 2013 6:49 PM | about stocks: JCP, NKE, LQD, TLT, XHB, TPX, XBI

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

    (click to enlarge)

    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.

    (click to enlarge)

    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.

    (click to enlarge)

    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.

    (click to enlarge)

    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.

    (click to enlarge)

    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).

    (click to enlarge)

    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
Back To AaronJackson's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.