Research

Mortgage Rates
18
Apr

30-yr Fixed Rate Mortgages Testing Key Support

If you're in the market to purchase a home, what happens here with mortgage rates, which broke out late last year from a 30-year downtrend, might impact the timing of your purchase. Rates have been falling since the December Fed rate hike, but if support of the falling trend line holds, this would would signal...
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16
Apr

$ANSS Ansys Testing All-Time-Highs

I'm watching the engineering software company, Ansys, very closely for a definitive break of the $191 level, which represents the all-time highs from last September. A break here would target the $220-$223 level at the 161.8% Fibonacci retracement.
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15
Apr

$AES Building Base for Push to $20

It has been more than a decade since the share price of AES, one of the leading domestic power companies, hit $18. The price eclipsed the November and December breakout highs with little difficulty before stopping to knock on the 161.8 Fib extension three times.
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12
Apr

$COST Costco Prepping for Move to All-time Highs

As I have stated previously in this space, the most common method of applying Fibonacci retracements is to start at a cycle high and end at the cycle low. However, I ascribe to the Connie Brown methodology of deferring to the secondary highs of a cycle as the starting point for the Fibonacci retracement when...
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11
Apr

Platinum Pushing Up Against Resistance at $917; Breakout or Breakdown?

The recent $100 move in the Platinum price from the beginning of March has brought out the bulls on social media. Platinum futures tipped right above the $921 level, got swiftly rejected, and rebounded to close today around $911.
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Crude Oil
10
Apr

$CL Crude Oil Remains Bullish, but Expect a Pullback

Followers on Twitter know that I have been bullish oil since the breakthrough at the 38.2% Fib retracement and the formation of an inverse head and shoulders pattern.
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Tesla Chart April 9th
08
Apr

$TSLA Tesla Chart Stuck in Wide Range

What I see from the log chart over the past 30 months is that Tesla is trading in a range with big technical swings, depicting an epic price struggle between bulls and bears. Until price moves out of the rectangle above, the chart offers no definitive direction. The 200 day moving average is flat as...
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TLT
01
Apr

TLT 20-yr Bond ETF Setting Up Bullishly

The TLT 20-year Bond ETF chart looks very constructive here. The October low is shaping up to be the head of an inverse head and shoulders pattern and a test of a wide, upward sloping channel. The chart has been consistently honoring the Fibonacci support and resistance levels from the June 2017 high to the...
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Bitcoin Chart
01
Apr

$BTC Bitcoin Waking Up and Breaking Out

Since the peak in late 2017, Bitcoin has seen an epic collapse and a significant shift in sentiment. The price chart as been stuck in a descending triangle for the last 15 months, unable to breach the downward trendline - until today. It's early, and we could see a retest of the trendline before any...
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Analog Devices
23
Mar

$ADI Analog Devices Breaking Out to New All Time Highs

Analog Devices (a company I interned for in '99) is breaking out to new multi-decade highs. The price action is certainly characteristic of bullishness in the stock and in the semiconductors in general. If the new high holds here, ADI could push quickly to the
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