We're finally seeing some volatility enter the picture -- good for us active traders.
Coal stocks not looking hot as many are through the 50SMA today -- broken for now, we're not interested in touching these for a while. Our favorite in the sector, WLT, has a similar chart.
Posted this chart right at the 50SMA yesterday noting that it had rallied all the way from 200 SMA support to now 50SMA resistance. Nice reversal and follow through today -- technically we still like the sector but the move needs to be digested before we see good risk/reward entry in the juniors.
Posted chart on Monday "Shares are hard to locate but if you can this looks like decent entry short. Risk defined with stop on today's high." If you found the shares, congrats, working well. First major support not until trend-line currently at 146-147.
FXI held 41.2 support that we posted last week -- we'll see if there's any continuation here tomorrow. Very significant divergence between US market and China, Brazil and for the most part emerging markets.
Breakdown continuation in FCX today -- and looks like it wants to kiss the 100 SMA which would be first support.
Commodities are telling the bear story and stocks like AAPL are telling the bull story. Incredible power and resilience in the stock.
