Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Point & Go Figure: TXN, ED, APPX


You can't please all the people all the time, but you can make sure they are equally frustrated.


Market Overview:

The short-term conditions continue to deteriorate from very high-risk levels. The pattern of lower lows and lower highs persists for both the NYSE and Nasdaq Composite Percent Above 50-day Moving Average Indicators and both are now negative (in a column of Os) on their charts. Both are on sell signals as well, having each exceeded previous columns of Os.

The High-Low Indices for the NYSE and Nasdaq Composite are now both negative. Both are in a column of Os and remain in high-risk territory near 70%.

The longer-term bullish percent Indices for the NYSE and Nasdaq Composite are both still in Xs, but the larger pattern of lower highs there also remains intact, a signficant bearish divergence. The more narrow S&P 500 and Nasdaq-100 Bullish Percents both are negative, each in a column of Os.

Charts of Interest:
Texas Instruments (TXN)
(Chart courtesy
TXN on a PnF basis is forming a potential triangle. A move to 35 would be a positive break (note the price objective of 38) while a move below 29 would suggest a test of trendline support at 25 is forthcoming.

Texas Instruments (TXN), weekly
(Chart courtesy Thomson Financial)
Meanwhile, there is a DeMark TD-Sequential sell signal on the weekly chart.

Consolidated Edison (ED)
(Chart courtesy
ED on a PnF basis has pulled back to test long-term trendline support and the top of the large base formed between 2003 and 2005. A move below 41 would suggest something more complicated and bearish is going on.

Consolidated Edison (ED)
(Chart courtesy Thomson Financial)
Meanwhile, the stock has registered a DeMark buy signal on the daily chart suggesting a low-risk entry point near here.

American Pharmaceutical Partners (APPX)
(Chart courtesy
APPX is an aggressive trade in the Biotech sector, but there are enough technical positives given risk/reward potential for me to consider it. On a PnF basis the stock could potentially break a triple top with a move to 29.50.

American Pharmaceutical Partners (APPX), daily
(Chart courtesy Thomson Financial)
APPX has registered DeMark buy signals on both a daily and weekly chart.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos