Quick $FCX Trade Update
Back on November 15th I blogged about $FCX getting to $20: https://omahacharts.com/single-post/2016/11/15/Freeport-FCX-to-20-and-Beyond I was recently asked if it was too late to get into $FCX if you didn’t already have exposure as it has run up to above $16...
Fun With Technical Patterns (Pennants)
The $IBB Biotech Index is displaying a textbook Pennant pattern. These patterns begin with a straight line run up to the triangle pattern, formed by two converging trendlines. Price in these patterns most often slopes against the prevailing trend and can breakout in...
The US Dollar Index Shows Further Signs of Upside
The United States Dollar Index has broken out above its nearly two year Horizontal Consolidation Region (HCR). Going back to the start of 2015, the /DX has traded in a range between $93 and $100 but has broken through the overhead resistance level. The upward breakout...
Are Coffee Futures Near A Cup and Handle Breakout?
The Cup and Handle formation is a widely recognized bullish continuation pattern developed by William O’Neil in is 1988 book, “How to Make Money in Stocks.” As the name describes, this formation has two parts: The Cup or the rounding bottom, and the...
Biotechnology ETF $XBI and Market Sentiment
Years ago after switching from a fundamental approach to buying and selling stocks to a technical approach…