At the Edge

The weekly chart for the 10-year yield (inverse to bond prices) shows that yields have reached the nadir of a descending triangle throughout 2014 (light blue lines).

Yields are still well above the 2012 lows, with the inverse head and shoulders multi-year bottom confirmed despite the rally of bond prices in 2014.

The ECB announcement later this week is likely to cause some short-term volatility in bonds.

But if bond bears are going to make another push higher in yields to follow-up the spike we saw last summer, the time is now from a technical perspective.

_____________________________________________________

Will he be “Super Mario” again later this week?

It’s slow out there this afternoon, again.

Watch UNG over $25.80.

And Visa has been suspiciously weak of late.

I added more to my TWTR long from yesterday (reestablished after we closed out a winning trade last week) inside 12631 earlier today.

The stock staged a nice surge within the past hour, taking price over $33. Ideally, we see a close over $33.20.

As far as a target is concerned, the daily chart is showing a subtle inverse head and shoulders bottom, outlined in light blue line. The measured move from the pattern, if triggered, is over $40. A close over $35.14 would trigger it.

My stop is still below $31.

As for my other positions, natural gas is bouncing back nicely so far today. And I cut my biotech short for a loss.

_____________________________________________________________________

Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

________________________________________________________

CAVM PANW, both acting constructively on their daily charts, below, are long ideas on further strength.

What/who are you mad dogging this morning?

_________________________________________________________

_________________________________________________________

Watch TWTR to see if it can hold the initial morning gains (after a dip at the open), and clear $33.20 above.