The S&P 500 index proxy (SPY) is still lost within its range. For deeper time-frame investor/traders, the odds picture remains muddy and now seems like a good time to keep your powder dry. For intra-day traders, there is small time-frame bullish power which we forecast will offer some good short term upward trends intra-day.
WallMart (NYSE:WMT) failed to form a double bottom, and this failure to “set up” has taken this stock off our radar at this time.
JP Morgan Chase (JPM) met our initial profit objective as the blue zone was tested. Now, stops could be trailed above the range in the $69.50 area as the bearish power has grown nicely. We forecast that a lower high will form and this will give the market the confirmation it needs to confirm a…
(EUR/USD) has triggered the inverse head and shoulders reversal pattern as described in the previous forecast. Now, we forecast that the bullish acceleration will continue as this market breaks free from resistance.
Goldman Sachs (NYSE:GS) took on the blue zone, and has bounced with price action very similar to that of JPM. HOWEVER, GS doesn’t show that the bears have much energy left to take price lower, so we are forecasting that any breakdown will be short lived and that the odds are high that a double…
Host Hotels & Resorts (NYSE:HST) set up by testing the green zone, then rallied quickly up to provide a profit within one week!
