- Posted by Greg Harmon on November 28th, 2014 at 8:25 am
America celebrate the holiday of gluttony, Thanksgiving, yesterday. a day where we sit down and stuff our faces until we cannot move. Then waddle to the couch to watch football and have late night Turkey sandwiches delivered. We may take a nap in between and blame it on the word of the day, trytophan.
But while we took a day away to talk politics and religion with a bunch of uninformed relatives (including ourselves) the Chinese were getting busy in their stock market. The Shanghai Composite is in the midst of a major breakout.
The chart above shows the weekly price action, augmented for today’s move (that would not show up until 4pm). What you see is a break out of a 3 year bottoming pattern. And this week prints a very bullish Marubozu candle. A Marubozu is when the period opens at the low and closes at the high, no pullback or dip lower. It is a sign of continual buying.
The momentum indicators are pointing higher as well, with the RSI into overbought territory. That might be good news as it could give you a short pullback before launching higher again.
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Thanksgiving Over-Indulgence or the Euro Causing Indigestion
Posted by Greg Harmon on November 27th, 2014 at 7:51 am
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Posted by Greg Harmon on November 26th, 2014 at 3:04 pm
The constellation Orion, the Hunter, is in the night sky this time of year. It is easily recognized by the three stars making his belt. […]
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Posted by Greg Harmon on November 26th, 2014 at 7:36 am
Put a Collar on Hewlett-Packard Stock, Not Your Cat
Posted by Greg Harmon on November 25th, 2014 at 3:14 pm
Some things look great with a collar on them. Maybe not your cat though. But a collar for protecting a stock position can look fantastic. […]
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Posted by Greg Harmon on November 25th, 2014 at 7:50 am
What would the holiday season be without Silver. Silver and Gold. Silver looking like the snow and icicles hanging from trees and buildings. Gold adding […]
Looking for 6% Upside in Lazard
Posted by Greg Harmon on November 24th, 2014 at 3:58 pm
Financial stocks have done pretty well this year. Well until September 1st that is. But after the shakeout down to the October low most have […]
Top Trade Ideas for the Week November 24, 2014: Bonus Idea
Posted by Greg Harmon on November 24th, 2014 at 7:45 am
Top Trade Ideas for the Week of November 24, 2014: The Rest
Posted by Greg Harmon on November 23rd, 2014 at 4:17 pm
SPY Trends and Influencers November 22, 2014
Posted by Greg Harmon on November 22nd, 2014 at 11:34 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 […]
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)
- Shanghai Composite Talks Turkey While You Eat It
- Thanksgiving Over-Indulgence or the Euro Causing Indigestion
- The Stars Say Buy Constellation Brands
- Seems the German DAX is Always at Critical Levels
- Put a Collar on Hewlett-Packard Stock, Not Your Cat
- Premium Earnings 11-25-14
- Silver Driving Higher For the Holidays
- Looking for 6% Upside in Lazard
- Premium Earnings 11-24-14
- Top Trade Ideas for the Week November 24, 2014: Bonus Idea