Monday, June 22, 2009

Zignals Stock Charts: Stocktwits Top Tickers

Bulls will be biting their nails with S&P futures weak; but what has grabbed the attention of traders this week?

Apple (AAPL) tops the list. Boston Wealth Management is looking at a long standing battle of the trendlines:

But over the short term it is looking better for the bulls:

Second was the Euro/US Dollar Currency pair (EURUSD). Shorts look to have the edge on the Stocktwits feed but the daily chart appears to show a bull flag with clear support at $1.38xx. I have made a call for a measured move to $1.55xx. Supply in the $1.42xxs has restrained the rally once but can it do so for a second time?

Third on the list is British Pound / Japanese Yen (GBPJPY). Pipmaestro has been peppering with short trades but the daily trend is clearly higher. Supply around £1.62xxs is a chance for shorts to get in top-end; aggressive shorting is likely to occur should £1.55xxs break.

The S&P (SPY) has been a constant on Stocktwits (interesting to see it gather more attention than the QQQQs). I haven't changed my earlier call from June 17th; still think it is heading into the $80s.

Last of the major follows is the US Natural Gas ETF (UNG). There is no firm conviction from Stocktwitters on how the sideways pattern will resolve. If it was to follow oil's lead then higher is favoured but weak seasonal effects may suppress this.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts, and stock charts website

blog comments powered by Disqus