Monday, May 11, 2015

Crude Oil Turn Coming?

Crude has had a very nice recovery off its recent low set in mid-March with a steady climb of nearly $20 since that time. The push through the declining 50 day moving average was the first real clue that the complexion of this market had changed in late March with the deciding factor being the second thrust back up through it once more in early April. That cemented the low near $43 as a solid bottom in the market.

Since that time, the market has ground higher not in a sharp push but in a steady, relentless fashion indicating what can best be described as an “a reluctant abandonment of bearish sentiment” among the speculative crowd.  (more)
Please share this article

Gold Is Nearing An Important Pivot Point In 7 Charts

As usual, we look at gold from different angles. If anything, it becomes clear that the precious metals market is nearing a pivot point. We cannot be sure in which direction this will resolve, we can only keep on monitoring the developments in the weeks and months ahead until we see a trend. Based on our analysis, we are quite convinced that a new trend in precious metals will arise in the next few months.
Chart-wise, gold looks like a cooking pressure, not in terms of price or momentum, but in terms of its chart pattern. The recent sideways action can go on for a while longer, but the descending triangle formation on the chart is reaching its apex. In our own words: we are nearing a make-or-break level.
Besides, the US dollar broke above critical resistance, and is currently in the process of testing it.  (more)
Please share this article

Chart of the Day LeMaitre Vascular (LMAT)

The Chart of the Day belongs to LeMaitre Vascular (LMAT).  I found the stock by sorting the  All Time High last for the stocks with the best technical buy signals.  Since the Trend Spotter signaled a buy on 3/4 the stock gained 22.93%.

Lemaitre Vascular is a leading global provider of innovative devices for the treatment of peripheral vascular disease. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre's diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time.

Please share this article

Starbucks (NASDAQ: SBUX)

Although it may sound cliche, the trend truly is your friend. Throughout this bull market, stocks in rising trends have continued to rise and stocks in falling trends continued to fall. We can see this stark contrast in two coffee stocks.
Last month, Starbucks (NASDAQ: SBUX) gapped up 4% the morning after its strong fiscal second-quarter earnings. Keurig Green Mountain (NASDAQ: GMCR) missed estimates Thursday and gapped down nearly 12% on the day's open.
The difference was the prevailing trend for each stock. Starbucks was rising nicely while Green Mountain was in a bear market.  (more)

Please share this article

US Weekly Economic Calendar

time (et) report period ACTUAL CONSENSUS
~10 am Labor market conditions index April   -- -0.3
9 am NFIB small business index April   -- 95.2
10 am Job openings March
-- 5.1 mln
2 pm Federal budget April   -- $107 bln
8:30 am Retail sales April   0.1% 0.9%
8:30 am Retail sales ex-autos April   0.4% 0.4%
8:30 am Import price index April   0.6% -0.3%
10 am Business inventories March   0.2% 0.3%
8:30 am Weekly jobless claims May 9
276,000 265,000
8:30 am Producer price index April
0.1% 0.2%
8:30 am Empire state index May
5.0 -1.2
9:15 am Industrial production April   -0.2% -0.6%
9:15 am Capacity utilization April   78.3% 78.4%
10 am Consumer sentiment May   95.0 95.9
Please share this article