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Continue reading >>Just weeks ago, we featured General Electric (GE) in a Chart of the Day following allegations of fraud back in August 2019. Since then, we’ve watched as the stock caught strong support around $8 along with oversold reads on the Bollinger Bands (2.20), W%R, RSI, and MACD. Since spotting that opportunity in August 2019, the stock exploded from a low of $8 to a high of $11.72. All we had to...
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The market showed strength for the 2nd-straight session following Wednesday’s run to higher highs before a mixed closed. Better-than-expected corporate earnings and economic news help sentiment along with the signing of the USMCA agreement.The weakness into the closing bell and after the Fed news on unchanged interest rates was a signal of a continued choppiness for the market going forward.The...
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wallThe market showed strength on Tuesday following a blowout GDP number as Wall Street focused on better-than-expected economic news and earnings. The major indexes rebounded to push prior resistance levels from earlier in the month but remain on cautious ground.The action in the small-caps remains a concern along with the heightened levels in the S&P 500 Volatility Index ($VIX). After the...
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Continue reading >>The market opened lower and showed no sign of recovery after China reported nearly 2,000 new cases of the Wuhan coronavirus were diagnosed over the weekend. Overseas markets in Asia were mostly closed for various holidays and led to some of the nervousness and gap lower.The major indexes came close to losing their gains for the year, and month, with the blue-chips briefly falling below its...
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