Trucharts.com Markets update 12/11

Free Stock Charts/Scans/Stock Screener at Trucharts.com: 12/11

Well we had huge ramp this morning - we suspect this was huge short squeeze which led to short covering. The trend is still to the 50d SMA. Oil crashed and gold pulled back. RH stock earnings drove up the retailiers and their forecast was positive. So WSM (we are long) moved up and our shorts are still holding. There was pullback towards the end of the day and the ISEE closed at 54 - one of the lowest readings in the longest time. Watch the 50d SMA for SPY. Markets are trading very technically. Fundamentals are just an excuse now. Bubbles are made of volatility, no fundamentals and lot of big moves in the markets while bears and bulls try to fight it out. We think oil should stabilize in the 55-60 range. Still holding all our positions. We hope there is now a revolt against the airlines for baggage fees - now that oil is down - they should no longer be charging these fees.

Chart for RH at:

www.trucharts.com/stockview.aspx?TICK=RH

Trucharts team

TruCharts.com Market closing update 11/18/2014

TruCharts.com Market closing update 11/18/2014

Markets pushed higher all day today after the housing report and general bullishness heading into the holidays.  S&P 500 crossed 2050 and we stated last week in our blog that the markets are trending higher and the ISEE ratio was indicating a higher market for this week.  We think the DJIA is headed to 18000 and a melt up - stocks like HD - even after reporting so-so earnings are not getting hammered - that tells us that bad news is not affecting stocks - this is typical of bull market behavior - exponential charts and low VIX along with general bullishness from the sentiment reports like AAII and investor sentiment numbers.  

Gold moved higher this week - again related to the SWISS referendum - and the dollar dropping.  Still not a convinving enough rally to buy gold here.  We expect it to pullback soon.  

Tech stocks  such as ASML are breaking out, airline stocks are also doing well (oil price drop).  This is definitely a trader's dream come true.  

Biotech stocks moved higher today - but we think there is definitely topping action in this sector due to the volatility in the price movement - we typically see this type of price action at tops.

Check out our BUY/SELL signal end of day reports and also the BULLISH MACD crossover reports for longs and the opposite for sell/short signals.

Check out our very good sell signal using the trucharts.com buy/sell strategy for FCX. Looks really good if you had shorted FCX around 38 or so.

Trucharts.com FCX Sell Signal

Trucharts Buy/Sell Strategy for FCX

Trucharts BUY/SELL Strategy Signal for FCX

Stock Charts - Trucharts.com - BUY/SELL Strategy - Check out here and see where our trade strategy picked a SELL signal for FCX.. Again you could have saved yourself a lot of grief and $$$.. Our Sell signal was generated around 38 and the stock is at 29+ today.

Here is the chart: