IBM: Price very bullish last week and now trying to break out! The RSI has room to support price, but we might build a divergence on the MACD with this high!
AAPL: Bullish looking chart. A wedge pattern followed by a big gap breakout on rising volume. We should expect this to push into a new high.
JNK: Price on the rise again, RSI has room to support a move to the over head trend line.
$VIX: It's not bullish until it's firmly back above the now resistance line!
My Watch List:
MCK: Stock continues to push higher from the inverse H&S pattern with the BBs widening. Pattern price target is about $87. RSI still has room to support more price. Volume is the only disappointment so far.
CAH: Price is trying to break out. Volume is declining and the BBs are not widening!
AEM: Declining wedge with price trying to beak out but no volume so far!
POT: A potentially large inverse H&S pattern. Price trying to push out of a potential right shoulder but needs to clear the 50 day MA.
AGU: Like POT stuck in No Man's Land on the 50 day MA.
COH: Price looks good, still climbing up the upper BB with the BBs widening. Price should test resistance soon.
INTC: Price continued to grind a little higher on widening BBs. I still think we get to the first resistance line in the near future.
MU: So far, it looks like a completed ABC flat pattern, but it could turn into a wedge!
UHAL: Still drifting sideways, no trade yet.
FSII: Price moving higher towards the top wedge line with the MACD trying to turn up.
VASC: A little consolidation day right on top of the down trend line allowing the upper BB to play catch up. Only thing missing is follow through higher.
FFIV: Big volume gap higher over a down trend line. Maybe the correction is over!
CMG: The only bearish trading idea I have. Multiple divergences on the RSI and MACD with price trying to turn over.
From My Trading Desk: Thursday I realized I had several longs going into a 3 day weekend so a sold fractional positions on MU and CAH for small gains. I did add to my long on INTC.
Next Week's Game Plan: I'm inclined to do very little early next week to see how things shape up out of the gate.
Happy Trading.
J.D. Rosendahl, Rosey