GS Could Be Leading Again

Happy Holidays!

On Dec 8, 2012, I posted a video on the financial sector pointing out the possible upward price movements from some of the financial stocks. I have place the video below for those that wish to watch it again or for those that have not seen it. (The ETF is XLF not XLE as mentioned in the video. Click here if there is no video player on your screen.)





Recently, the financial sector has been one of the strength in the market and the sector leader GS appears to be setting up to lead this sector higher.  GS daily price chart (see below) shows how it moved rapidly to the price target of 128/129 projected by the multi-bottom  pattern made between Nov-Dec after it has broke above the 121 level.

(Click on the chart to enlarge.)

Now it is at an inflection point near the 129/130 level where there is confluence from the multi-year declining trend line and the support/resistance trend line (see weekly chart below).  This confluence could pose a minor pullback/consolidation before it resumes its upward move.  After GS breaks above the 130 level, it could continue to move toward the 174/175 price target with the possibility of encountering resistance near the 156/157 level.

(Click on the chart to enlarge.)

AAPL Review For 12/15/2012

AAPL has another down week.  Here is a look at where it might be headed.



Click on this link if you do not see a video player on your screen.

Disclosure: Long AAPL CALL

Market Review - 12/11/2012

Here is a quick review on the EFT for major market indices along with a look at the following stocks: AAPL GOOG IBM GS FFIV



Click on this link to view the video if you do not see a video player on your screen.

Disclosure: Long GOOG, QQQ PUT

Looking At GOOG Intraday - 12/8/2012

Here is a video looking at the intraday price actions and a clarification on the usage of the head & shoulder and the inverted head & shoulder pattern.



Click on this link to view the video if you do not see a video player on your screen.

Disclosure: No position on GOOG

The Rising US Dollar Effects

The US dollar reversed its decline and gathering strengths. Looking at the DXY (US dollar index) chart, this index could be heading toward 81.75 from the recent low near 70.50.

Conversely, the Euro started to decline from its recent high 130.13 toward the 127 level. If it fails to hold 127, it could fall to the previous pivot low near 125.90.

Similarly, the price of crude will fall as the US dollar rise. From the chart for the crude ETF, USO could drop to 29.50, where the spot price for light crude will be near 78 per barrel.

Finally, the price of gold could also fall along with other commodities prices. The ETF for gold, GLD could drop to 162 that mean gold could be less than 1680 per ounce. If it cannot hold the 1680 per ounce, it could drop to 1620 per ounce or near 157.50 for GLD.

A Less Obvious Pattern For GOOG

There is an invert head & shoulder appears to be forming for GOOG. But this pattern is too obvious and the market rarely reward the obvious. Here is another not so obvious pattern that could be forming for GOOG.



Click on this link to view the video if you do not see a video player on your screen.

Disclosure: No position on GOOG

AAPL - 12/5/2012

AAPL experienced one of its worst day. It loss nearly 7%, little more than $39. Watch the possible gap fill between 540/530. Here is a video reviewing the price actions and price levels.



Click on this link to view the video if you do not see a video player on your screen.

Disclosure: No position on AAPL

AAPL - 12/2/2012

Here is a review of AAPL after another volatile week that was mainly driven by the fiscal cliff news.



Click this link to view the video if you do not see a video player on your screen.

Disclosure: Long AAPL PUT

NFLX - 12/1/2012

Here is a look at recent price actions for NFLX and what possible trade levels to monitor for possible swing long.



Click on this link if you do not see a video player on your screen.