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Point & Go Figure


Yield with caution


Below are some charts that caught my eye, as well as some that were requested by Minyans. If you would like a chart reviewed, let me know here.

I have added text and illustrations to the charts where necessary.

All charts courtesy Dorsey, Wright & Associates.

Newmont Mining Corporation (NEM)
Note that NEM has yet to move through important downtrend resistance from the November highs. A move through 44 would confirm the trendline break.

The WilderHill Clean Energy Index (ECO)
The ETF that trades based on this index is the PowerShares Wilderhill Clean Energy (PBW), which debuted in March. This index is easier to follow from a charting stanpoint since it has more data.

Citigroup, Inc. (C)
Citigroup continues to churn around at an important juncture.

El Paso Corporation (EP)
EP at a three-year high, and only now testing mutli-year downtrend resistance; a recipe for potential disaster for those coming late to the party.

Yesterday Greg Weldon posted some comments on the Buzz about the importance of 4.61% for the 30-year Treasury yield. I looked at the 10-year and 30-year point & figure charts, basis .5x3 scale, and interestingly, the longer-term price objective for both the 10-year and 30-year is 5.45%. Should these yields push above the resistance areas on the chart, making the higher price counts more probable, it is certainly intriguing that the counts for both are identical.

U.S. 10 Year T-Note Index (TNX)

U.S. 30-YR Yield Index (TYX)

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No positions in stocks mentioned.

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