Five Swing Trade Ideas for Thu, Sep 8, 2016: American Equity Investment Life Holding Company (AEL), American Express Company (AXP), CSX Corp. (CSX), MGM Resorts International (MGM), Southwestern Energy Company (SWN).
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Slope of Hope Blog Posts
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Harry Boxer’s Charts of the Day
Overhead Resistance
SPX, NDX and RUT have been rallying as expected, RUT made a new swing high first on Friday, NDX has made a new all time high today, and SPX has come within a few handles of the ATH retest but no cigar as yet.
I want to talk about the trendline resistance that I’ll be watching over the next two or three weeks during this likely bull window. The daily bollinger bands are so compressed that we could see a break up through these trendlines, or possibly see a break down before the cycle high window opens. The daily bollinger bands average about 3% to 4% between the upper and lower bands on the daily, and anything under 2% is compressed, and anything under 1.5% is very compressed. SPX is now at about 1%, at a degree of compression that has not been seen before in many years, and possibly never seen before at all. This is likely to resolve into a decent expansion, which should be downwards, but could be up. If it is going to be a break upwards then there are two important trendlines to watch.
Apple’s World-Changing Event
