Dragonfly Capital | Sep 17, 2012 02:52AM ET
Akamai Technologie (AKAM) is breaching a triple top at 39. It has a bullish Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) that is improving. A move over the triple top carries an initial Measured Move to 41.25 but that is well short of the current 3-box reversal Point and Figure chart (PnF) price objective at 62. CSX (CSX)
Express Scripts (ESRX)
The Bancorp (TBBK)
Cimarex Energy (XEC)
Up Next: Bonus Idea.
After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which, heading into next week sees the markets looking strong but perhaps a bit extended. Gold and Crude Oil look ready to continue their moves higher with a possibility that Gold consolidates first.
The US Dollar Index and US Treasurys are poised to continue lower, with treasuries having the best chance for a bounce. The Shanghai Composite seems bound by the 50 day SMA while Emerging Markets are biased to the upside but at major resistance. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. With the moves higher, each could be forgiven if they consolidated or had a slight pullback first and their charts do have some signs of being extended on the short run. Use this information as you prepare for the coming week and trade’m well.
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Original post
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