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Several 12631 Trading Room members have been asking about Ford’s stock on multiple timeframes. Below, you will find the daily, weekly, and monthly charts of Ford, with my analysis on them. Hat Tips: @mda1125 @spinner @GYSC
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At first glance, it is slim pickings out there in terms of high probability long setups. However, in the event that the broad market proves resilient once again, here are three that caught my eye this morning.
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It’s gonna be a looooooooooooong summer in the stock market.
NSFW
[youtube:http://www.youtube.com/watch?v=2hvNi0VZwc8 550 412] Comments »
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As disgusting as Goldman Sachs, the rest of the financials, energy and materials look and feel, the broad market has yet to really break down. The S&P 500 is just toying with that 1332-1338 area, which we know represented prior resistance for many months. While many traders seem to be throwing in the towel for the summer, I am prepared to take advantage of a sector rotation in lieu of equities as a whole falling apart, if it materializes of course.
While there is nothing inherently wrong with enjoying the summer and heading to the Hamptons, those folks that are off enjoying themselves could easily miss out on another surprise move higher in consumer discretionary/REITs/semis.
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