With markets on the retreat in afternoon trading, the level of buying as seen on the Trade Ideas scan was markedly down; 8 picks covered a time span of 31 minutes . Only one pick was able to make it over 20 appearances : Jones Apparel Group ( JNY ). The one pick which was making a more regular appearance on the scan this afternoon was Sun Life Financial ( SLF ) at 16 appearances . It is not a traditional breakout given the current move reversed off resistance from a rising channel, but this could to shape a handle between $42 and $44. Worst case scenario for bulls is a full retracement to rising channel support, somewhere around $40. As for an upside target, look to $51, which is similar to the point-n-figure target of $52 (part of a November 3rd triple top breakout). The stock pays a 2.5% yield. Sun Life Financial, Inc., a diversified financial services company, provides savings, retirement and pension products, and life and health insurance to individuals and groups in Canada, the Un

More of the same as the various market rallies kept pushing along. Volume climbed to register an accumulation day in the Dow , but not the S&P (or other indices). Small caps [ Russell 2000 ] managed a positive test of 783 support; but lost out against tech averages [ NASDAQ and NASDAQ 100 ] in terms of relative strength - pushing a more neutral alignment of markets {Tech averages > Small caps > Large caps} . On the flip side, the semiconductor index was able to cling on to its break of the 200-day MA as its supporting technicals continue to improve. Tech market internals [ $NASI , $NAA50 and $BPCOMPQ ] were mixed with gains in the $BPCOMPQ and $NASI , but a small loss in the $NAA50 . However, there was no bearish cross of the 5-day EMA in the $NAA50 . It is important to note that bearish divergences in supporting technical indicators remain for these market internals. Also, volatility held bullish wedge support for a fourth day in a row (this is likely bea

It was a good week for the Stockcharters. The extra leg of the rally was best illustrated by Mitchell Meana and he was right on the money. He has stuck to his target of $44.80 for the Qs, or 2,498 for the Nasdaq - assuming wave 5 is equal to wave 1. Joe Reed has an interesting chart for crude oil; he shows oil trading at a 5-year support line (using a log scale). I am no fan of his self-congratulatory style, but as he would say, "He nailed this one!". A good spot. He is also showing Healthcare bullish percents at resistance, on a reversal in stochastics, relative strength, and the Ultimate Oscillator. Ted Burge starts out with a good market summary: Nov 17th! The PnF Supply and Demand Report is indicating again today the very first signs of some weakness in demand. No hype and no predictons, just watch the pace of stocks moving to buy and sell signals and from X's to O's. A 3 box reversal on a traditional PnF chart is normal price activity. It is all explained in m

Finding the reversal points in the market is the $64,000 question every trader and investor wants to know. But, more important is knowing when to be aggressive or passive when calculating risk exposure to the market. Luckily, there are a number of tools available to help you identify the most likely point these reversals can occur. I concentrate on Nasdaq market internals as the Nasdaq is more likely to lead an overall market reversal than using market internals of large cap indices. There are three Nasdaq internals I focus on: the Nasdaq Summation Index, the Nasdaq Bullish Percents, and the Number of Nasdaq Stocks above their 50-day MA. The Nasdaq Summation Index is a great internal to mark reversals, particularly if a weekly time frame is used (I also use a 5-day EMA trigger line on a daily chart). It is not a perfect market internal as some will testify, but it is a valuable tool. At its simplest, tops occur when the internal reaches zero and above; bottoms occur when the internal r

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It has been a while since a position was exited from the portfolio. This one followed across the board weakness in precious metal stocks. In this case, Goldcorp ( GG ) turned back from the 200-day MA with an associated 'sell' trigger in short term slow stochastics [14,3]. The 500 share lot closed for a +$1,680 profit. Two positions remain with no intention of adding more at this stage of the proceedings. Collective2

**I hate Beta.Blogger....** Wrote post - lost post (too many outages with nothing but a small warning at the bottom of the screen to let you know you are not connected - until of course, you go to post... and then its Adios). Also, broken FTP; why can't I upload images direct to the images folder and not have them dumped into the index page like it used to work every time before? Broken word verification for each post - the first time trying invariable fails (I'm not that bad a typist). Impossible to republish just the index page when altering Template. Often hangs during publishing. May or may not publish when it does hang... Beta.blogger is a piece of junk - it should NEVER have gone live. [Oh great! - now the visual verification image is a red x - time to cut and paste the post and refresh the page to get a new one. I'm not joking about this either.... Okay - refreshed page - waited 2 min+ to do this - still red x Yes - Error, Thanks beta.boober, still can't see vis