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Point & Go Figure

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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.

The Gap, Inc. (GPS)

The Progressive Corporation (PGR)

Vertex Pharmaceuticals Incorporated (VRTX)

Gold Fields Limited (GFI)
The chart of GFI, despite a new double top break on Friday, shows that the stock is simply moving closer to the top of its three-year range.

iShares Dow Jones U.S. Consumer Cyc (IYC)
The IYC began a powerful cyclical rally from the March 2003 lows, but has become increasingly unstable since May 2004, violating that trendline for several months before resuming the rally in November last year. The move down in April of this year tested the weakening trendline successfully, but we are now at near-term support at 59 and close to a new sell signal at 58.5. Topping is a process not an event. In my opinion the process of topping remains underway and will be confirmed with a new violation of trendline support below 57.

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.

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