The following charts are of those US stocks and ETFs catching my eye and interest at the moment. With most of them I’m watching for either a break or respect of long-term support or resistance levels that evolve with increased momentum.
IYT daily: the Transport ETF is a bit of a metric for general market health. I’m watching for any Bull Flag-style breakout:
FDX weekly: Fedex stock is also a bit of a metric of market health and I’m watching for any Bull Flag-style move here too:
CSCO monthly: watching the $30 level:
GE monthly: ditto here:
INTC monthly: watching for any test and or break of $35:
MRK monthly: watching for any support at $50:
PEP weekly: strangely, $101 seems the key level to make or break here:
MCD weekly: has made its first weekly close above $104. Must be due to my support and all of the yogurt / muesli mix I’ve been consuming lately on the early am trips interstate 🙂
HPQ weekly: watching the wedge trend lines for any Bull Flag-style move:
LOW weekly: ditto here…..watching the Flag trend lines:
M weekly: watching for any support from $50:
UN monthly: watching the $45 level for any respect or clearance:
YUM weekly: has broken below TL support. Watching for any bearish follow through:
ABT monthly: wondering if $30 might be tested:
BHP weekly: watching for any bullish break back above the bear TL:
CAT weekly: ditto here:
CCRN weekly: watching for any break or respect of $15:
CHL weekly: watching for any move away from the $60 level; up or down:
FLEX monthly: watching for any break or respect of $15:
MDRX weekly: watching the triangle trend lines:
MGM weekly: ditto here:
MS weekly: watching for any bullish break up through the Bear TL and, if so, will then watch for any test of the $40 level:
NTAP monthly: watching for any support from $30:
MU monthly: a bullish engulfing monthly candle close here might spell a bounce. Watching the $20 level too:
YHOO weekly: noting the bounce up off the 61.8% fib and watching for any follow-through:
AA weekly: watching to see if this can break back above $11:
SLV weekly: I’m watching the Silver ETF for any continuation with this bullish breakout. I’m wary here for the time being though as there isn’t much momentum with this move just yet:
Copper monthly: I’m throwing this chart in because the path of Copper often parallels that for the broader economy. The metal seems to be consolidating in a bullish descending wedge, set within a larger triangle, and I’m watching for any bullish breakout but this could take a bit of time to evolve, if at all!
