I’ve written before about the rash of suicides among high school students here in Palo Alto (notably, in this post). As a follow-up, I wanted to share with you a snippet from the front page of this morning’s Palo Alto Daily Post:
Here are 3 stocks that are flagging or in rising triangles that should resolve higher. (Click to see larger image)
By Sinisa Persic, first published on TraderHR.com.
150.00 is the Bull/Bear Line-in-Sand level for the SPX:VIX ratio as shown on the Daily chart below.
Price closed today (Tuesday) at 154.53…failure to hold 150.00 could see a serious correction in equities and possible break of the critical 60.00 level, which has been threatened numerous times since mid-October 2014.
Here’s today’s swing-trading watch-list:
Long Target (TGT)
I had never even heard of this company until yesterday, but I shorted it (to good results, so far). Here’s the triangle failure:
SPX is approaching wedge resistance and broken trendline support, and those should intersect in the 2130 area tomorrow or Friday. Ideally the next short term high will be made there in that timeframe. I’m not expecting any overthrow because I’m expecting this high to retested and exceeded within a few weeks. That is when we may see an overthrow as SPX tests main resistance somewhere (by then) in the 2150-2200 area. SPX daily chart: