- Posted by Greg Harmon on July 30th, 2015 at 7:26 am
Transportation stocks have been on my radar for a few weeks, looking for a potential u turn. They looked to have fallen off at the end of last week as they fell back. But Monday the found support and bounced. This made a higher low and brought them back into focus. Today the move higher made an important new high and now it is time to buy.
The chart above shows 5 reasons to get involved right now. First and most important, the price is making a new higher high. Coupled with the higher low last week makes for the start of a trend higher. Next, The price broke above the 50 day SMA. This was the first time it closed above the 50 day SMA since March, the start of the move lower, and it did so on strong volume and a long bullish candlestick.
The Bollinger Bands® are opening higher as the price is rising. This is another plus for the Transports. Moving to the top of the chart, the RSI is moving into the bullish zone and rising as it makes a new 4 month high. Finally, at the bottom, the MACD is is crossed up and rising, about to move into positive territory.
I posed the question 2 weeks ago about what will happen to the market if the transports turn higher. It just might be time to find out.
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Analysis and Trade Ideas for Whole Foods Earnings
Posted by Greg Harmon on July 29th, 2015 at 11:02 am
This analysis and the trade ideas were given to subscribers at 11am today. Whole Foods, $WFM, set the standard for locally grown, and organic food. […]
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Posted by Greg Harmon on July 29th, 2015 at 7:30 am
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Posted by Greg Harmon on July 27th, 2015 at 7:25 am
Here is your Bonus Idea with links to the full Top Ten: Stephen Schwarzman and Peter Peterson founded Blackstone, $BX, in 1985. The founders named […]
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Posted by Greg Harmon on July 26th, 2015 at 4:00 pm
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Posted by Greg Harmon on July 25th, 2015 at 9:02 am
A weekly excerpt from the Macro Review analysis sent to subscribers on 10 markets and two timeframes. Last week’s review of the macro market indicators […]
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Posted by Greg Harmon on July 24th, 2015 at 4:31 pm
Every month following Options Expiration I post performance metrics of the Dragonfly capital Model Portfolio. This includes all trades that I entered over time. What […]
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- 5 Reasons to buy the Transports…right now
- Analysis and Trade Ideas for Whole Foods Earnings
- Premium Earnings 7-29-15
- The Fed, inflation and me
- Analysis and Trade Ideas for Twitter Earnings – Unlocked
- Premium Earnings 7-28-15
- How to gauge the downside in the S&P 500
- Looking at Home Depot to remodel my portfolio
- Premium Earnings 7-27-15
- Top Trade Ideas for the Week July 27, 2015: Bonus Idea