And the answer is . . .

no bullish tail for FAS. Earlier today I posted the bullish tail candle forming and wanted to see if it could hold into the close. It did not. Bulls can hold on to the close off the lows and volume that could lead to a "capitulation" selloff. I sold half my FAS position for a... Continue Reading →

Watch for the Bullish Tail

If FAS closes as it looks right now on the chart, a bullish tail will have printed and we will be setup for a strong bounce. Keep an eye on the close . . .The market indexes are acting similar to FAS.

Chart: DIG

There's a lot to like about the DIG chart:1.   Postive RSI divergence2.  Successful test of bottom support3.  Long tail price bar at support4.  Oversold stochastic turning up5.  Strong obv and volume action

SPY Prints Possible Reversal Candle

Believe it or not, although SPY was down almost 4 percent today, technically it was a good day. The index printed a bullish "long tail" candle on massive volume, while the Worden T2108 indicator at extreme oversold levels. Generally, this ia a clear reversal signal, at least short term. The index recovered right after I... Continue Reading →

DIG Confirmation

DIG confirmed the bullish tail candle at support. I may add positions tomorrow if there is a slight pullback. I am already holding SWN.

A Bullish Divergence in AAPL?

Frequent e-mailer and one of my most loyal readers, Hal B., asked about a bullish divergence setup in AAPL. I don't have annotation capabilities from my current locale, so bear with me as I explain the chart.I do see a slight divergence that might be used for an extremely short term play. We measure the... Continue Reading →

Can We Buy CNX’s Pullback?

Ronald wants to know if I consider the 3.7% drop in CNX, a stock I highlighted earlier in the week, a buyable pullback. While I would not buy just yet, the stock is still technically sound. Support has not broke and volume on today's decline was within the stocks normal range. OBV still looks good.... Continue Reading →

Bullish Chart Setup: DVN

Independent oil and gas stocks have been on fire since bottoming late January (that long tail provided a good entry point), and few have done better than DVN (Devon Energy Corp). I like the stock on a pullback to what looks like new support at $95. The stock exhibits a nice accumulation pattern and could... Continue Reading →

Chart: APPL

Earlier today, I mentioned that I felt there was a good chance AAPL would hold it's rebound from the lows of the day and print a long tail at the close. Sure enough, the stock closed near it's high and looks ready for another leg higher, assuming we get confirmation tomorrow. If the stock closes... Continue Reading →

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