We provide Our View of Technical Analysis and Information about US Stock Market Indices and Individual Stock.
Reynolds American Inc Com (RAI)
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RAI - Daily Chart - Normal Scale
Since Mid November 2012 till today, RAI seem to form an ABC correction.
Today price action might be a wave C break down.
I will manage my risk to enter a bearish trade.
I put my stop loss at 45.5 level.
TJX Weekly Chart (normal scale) TJX has been bullish since 2009... Since 13 September 2012, TJX seem to make a retracement move... From 9 November 2012 till 5 February 2013, TJX likely to make a retracement with an ABC pattern.. 1. Agressive Trader. Might enter this level with a stop loss at 47.25... 2. Pattern Trader. Might enter after price break red trendline... 3. Conservative Trader. Might enter after price break the low at 9 November 2012 TJX Daily Chart (logarithmic scale) On daily chart, we observe price - MACD divergence and price - RSI divergence... On both scale drawing, seem that a break below red trendline might turn into a free fall...
LULU - Daily Chart - Logarithmic Chart SP500 break the resistance, looks like market still have a power for bull to continue higher. LULU supported at level 65. There is a bullish divergence at MACD and RSI. LULU hang on strong when SP500 get lower since 2 week ago. I expect LULU might move to the upper red down trend line.
DJIA - Daily Chart - Normal Scale DJIA make a new high but we find divergence on MACD and RSI. This one is the leader of this bullish move. It's often happen in the past, most trader see DJIA as a benchmark about how US Market perform. While they don't see the majority of stock heading. When DJIA break the trend line, I expect a bearish move in stock market. SPX - Daily Chart - Normal Scale SPX might forming first ABC pattern in a possible topping formation. I expect SPX to trading range between 1470 -1530 within 2-3 weeks. A break to either side might initiate a bigger move. Personally I expect a break to the support. Please check 4 hour chart on SP500 Future too,there is a down trend line still attached to the tops. NASDAQ - Daily Chart - Normal Scale Similar to SPX, NASDAQ might move in trading range within 2-3 weeks. But NASDAQ sit at the trend line. Russel 2000 - Daily Chart - Normal Scale Russel 2000 already break the trend line. There is a...
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