Markets Showing Signs of Fatigue, NOT Bearishness

Markets are showing some signs of fatigue but they are still in solid uptrends on the longer term timeframes. The charts of SPY, QQQ, IWM and SMH are shown below on for the period of just over a month. Each candle represents 30 minutes of trading so there are 13 candles per day. The three … Read More

Please Don’t Call It A Double Top in the S&P 500

It seems like every time the market approaches a previous level of resistance the “double top” callers come out in force. There is nothing wrong with correctly identifying this reversal pattern, the problem is that a double top has not formed in the $SPY. Look below at the chart of RedHat ($RHT) this stock formed … Read More

Omnivision Technology ($OVTI) A Buy Ahead of Mobileye ($MBLY) IPO?

Mobileye ($MBLY) is a much anticipated Initial Public Offering due to come to market later this week. The company is “is the global leader in the design and development of software and related technologies for camera-based Advanced Driver Assistance Systems (“ADAS”) . The company’s technologykeeps passengers safer on the roads, reduces the risks of traffic … Read More