Hint this week: The chart dates back to 1990.
Try to guess:
Thank you to everyone who has been playing along.
Please click on chart to enlarge
[Members: My latest Weekly Strategy Session has been published]
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While I finish up my Weekly Strategy Session, here are a few charts to consider which I posted on social media/Stocktwits.
IBM is still a laggard as the largest Dow component. For perspective, the multi-decade chart shows the stock is still digesting its prior rally since 2010. Let’s see where all of the eager value buyers (including Mr. Buffett) can make a dent.
IYT is the transport sector ETF, which the daily chart shows is up against a 50-day moving average in danger of turning lower this week if bull cannot reclaim it. Also note the potential bearish breakaway gap lower from a few weeks back.
LNKD is bending even more after its earnings selloff, but not quite broken. Bears need a break under $200. Otherwise, it is prolonged falling channel which may find support over $200.
SKUL is stil a long-term reversal candidate for bulls. Watch $7.60 above.
TWTR probably needs to hold $50, and especially $47 now.
What’s for Sunday breakfast?
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Some Sunday morning humor and entertainment before I come back in a bit with a few charts…
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Happiness (1998) is a disturbingly dark yet high quality, underwatched film. It also features the late Philip Seymour Hoffman in one of his more archetypal performances.
Written and directed by Todd Solondz, the indie auteur of my prior Welcome to the Dollhouse (1995) recommendation, the film also stars Jon Lovitz, Lara Flynn Boyle, Jane Adams, and the brilliantly creepy Dylan Baker.
As we saw throughout the mid/late-1990’s, the film weaves together several separate storylines and characters.
http://www.youtube.com/watch?v=FkQ_JxoWUP8
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Courtesy of @WallStJesus via stawealth.com, here we have an excellent perspective on stock market corrections going back several years.
I frequently reference this in my videos and blog posts. and thought it would be useful to post.
Note that we have not seen even a standard 10% correction on the S&P going back a few years now–The dips have simply become shallow and stayed that way.
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Enjoy this entertaining and educational Saturday morning documentary about one of the greatest all-around minds the world has ever seen–especially in the realm of finance, diplomacy, and entrepreneurship–Benjamin Franklin.
via YouTube:
From humble beginnings, Franklin quickly rises to prominence as a printer and publisher in Philadelphia. His discoveries in the new science of electricity help free the world from the harmful effects of lightning and propel Franklin onto the World stage.
Franklin moves to London and finds himself in the midst of a growing dispute between England and the colonies, a dispute that turns this loyal subject of the British empire into a revolutionary and causes a tragic break with his son.
http://www.youtube.com/watch?v=IjzNTHvfFb4
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