Market Insights
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Chart of the Day: Advanced Micro Holds Previous High
Advanced Micro Devices has sat calmly with other AI chip stocks rallying, but some traders may see upside potential.
Technology Rallied in March as Interest Rates Eased and Outlooks Improved
Technology stocks are rallying again as interest rates fall and fundamentals improve. The S&P 500 rose 3.5 percent in March, while the Nasdaq-100 surged 9.5 percent. That 6 point lead by the Nasdaq was its widest margin of outperformance since early 2009,...
S&P 500 Challenges Falling Trendline: Market Trends This Week
Downloads available here and here. Anchored VWAP and Keltner pullback here. Also: multidata crossover strategy. Register for Market Trends here. Next session is Thursday, May 4. Sizing Up the S&P 500 S&P 500 holds rising trendline, tries to...
Chart of the Day: Apple Pulls Back After a ‘Golden Cross’
Apple clawed to a six-month high last week. Is it done or will prices continue higher? The first pattern on today’s chart is the price level around $156. AAPL peaked there on March 6 and bounced there yesterday. Some chart watchers could think ... For more,...
Will American Express Run Again? A Big Options Trader May Think So
American Express has dropped along with other financials this month, but one big investor is using options to stay long the name. Check out this large trade that occurred shortly before noon yesterday: A block of 34,843 April 125 calls was sold for $37.88.An equal...
Stocks Hold a Potentially Key Level as Fed Takes a Less Hawkish Stance
Stocks could be trying to stabilize as investors look for the Federal Reserve to stop raising interest rates. The S&P 500 rose 1.4 percent between Friday, March 17, and Friday, March 23, its second straight positive week. The index has moved sideways for the past...
Fed Suggests a Pause as AI Sweeps the Nasdaq: Market Trends This Week
Downloads available here and here. Anchored VWAP and Keltner pullback here. Register for Market Trends here. Sizing Up the S&P 500 S&P 500 sitting between 200-day and 50-day MAsMACD inching higherWeak U.S. dollar, lower yields are...
Technology & Communication
Chart of the Day: Arista Networks Has Pulled Back
Arista Networks jumped to a record high last month, and now it’s pulled back. The first pattern on today’s chart is the high-volume jump on May 8 after earnings and revenue beat estimates. Notice how its closing price that day of $291.67 became apparent support on May...
Are Bulls Coming Back to Ride-Sharing Stocks like Uber and Lyft?
Ride-sharing stocks like Uber and Lyft struggled after IPOs last year. Yesterday, the bulls seemed to think both have turned a corner. UBER shot to a five-month high after Morgan Stanley said core profitability was improving and management shed a money-losing Indian...
Big Banks Announce Strong Results as Earnings Season Begins
Earnings season is off to another strong start, thanks to big banks and financials. JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Morgan Stanley (MS) all reported strong quarters. A combination of banking, trading and investment management drove the...
This Social Media Upstart Just Got a Lot of Attention in the Options Market
Suddenly the bulls are logging into Pinterest. The social-media upstart had record call volume yesterday as options traders positioned for a potential move higher. The activity came after a report showed growing user traffic. PINS' user base rose 9 percent to 82.4...
From Bear to Bull in a Few Months: Charting Tesla’s Stunning U-Turn
Never argue with price action. Look no further than Tesla for an example of why traders love technical analysis. If you haven't noticed, Elon Musk's electric-car disrupter made a dramatic U-turn last year. It's more than doubled since the summer, punishing short...