The weekly view of JCI shows the market has reached previous high levels (left edge of left chart), and may be putting in a potential double top (left chart, current). The lift from JCI sine 2003 has done so in a contracting wedge: a break of the pattern could offer opportunity. IF we do see […]
Ideas
MGA Magna International Inc. IDEA
Watching for expected weakness in the auto sectors, the current technical set-up for MGA is below. A potential double top can be seen on the weekly chart (left), with the market then dropping off in to 2016. Since then a slightly contracting wedge consolidation has developed: breaking this structure offers potnetial opportunities. Solid orange […]
VC Visteon Corporation IDEA
Our weekly view shows VC in the middle of a long term channel; at the beginning of this year we can see the recent lift starting in earnest as it makes its final push off channel support. The daily chart (right) shows the current market lifting within a smaller blue channel and bouncing between […]
AXL American Axle & Manufacturing IDEA
Our long term weekly perspective (left chart) shows AXL in a potential contracting wedge pattern. Solid orange highlights the patterns support & resistance; breaking these offers potential opportunities for the next significant move from the market. Along with the patterns support & resistance, blue s/r zones can be seen to have held the market, both […]
LEA Lear Corporation IDEA
The weekly view for LEA (left chart) shows a large lifting expanding wedge, with the market now at the top resistance of the pattern. The daily chart on the right gives us a closer look at the recent consolidation pattern since the market has reached the weekly pattern resistance. Solid orange lines highlight significant technicals […]
FCAU Fiat Chrysler Automobiles IDEA
Our MACRO BIAS for the auto industry in general is negative – we don’t see it holding up in the long run. When we take a look at FCAU’s chart however, we can clearly see a positive trend still under way. The left hand weekly chart shows a long term expanding wedge, with the market […]
GM General Motors IDEA
After reaching a high of almost $42.00 at the end of 2013, GM has shown some volatility, falling off and retesting the $38-39 level several times (on the high end) while finding support around $27. Three blue s/r zones can be seen to make channels offering potnetial opportunities as the market bounces off or moves […]
HOG Harley-Davidson IDEA
The weekly view (left chart) shows HOG has fallen off from highs in 2014; a bounce from 2016 has lifted / retraced that market drop more than 61.8%. Recent resistance has been found and if the market continues to fall there is a possibility of significantly more drop to come. The long-term weekly chart shows […]
SII: FANGS – BEING “DE-FANGED” FOR A “QUADRUPLE WITCH” CONSOLIDATION
SII: FANGS – BEING “DE-FANGED” FOR A “QUADRUPLE WITCH” CONSOLIDATION As we moved towards the June 16th Quadruple Options Witch we have carefully followed our SII: FANGS. Between the Friday June 9th “Mini Flash Crash” and the subsequent 61.8% retracement through Wednesday June 14th we could see the possibilities of a clear ABC consolidation pattern […]
GOLD Technical Update and IDEA
Gold long term monthly view: The market sits at an interesting confluence of technicals, all significant, and how they break or hold could show us the next move. At the current market location we can see gold just coming up to a purple long term monthly target. Around this area we can see: (1) purple […]