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Buzz Bits: Dow, Nasdaq Enjoy Nice Gains

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Your daily Buzz & Banter highlights.

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Editor's Note: This is a small sample of the content available on the Buzz & Banter.



Answers I Really Wanna Know... - Todd Harrison - 3:08 pm


R.P.



Financials Break Out - Michael Paulenoff - 1:21 pm

This morning the Financial Select SPDR (XLF) broke out of a six-week bullish coil pattern that represents the digestion period after the initial upmove from the 3/17 low at 22.1 to the 3/24 high at 27.37 (+23%).

With today's surge out of the coil, the XLF has started a new upleg that should propel the financial index towards a test of resistance at 27.80-28.00 next, on the way to an optimal target zone of 29.50. Only a break below 26.40 will wreck the developing upside follow-through from the March low.


Click to enlarge



The Nature of Momentum - Jeffrey Cooper - 12:21 pm

It's tough emotionally to trade stocks long that are going straight up and straight down--but, that's the nature of momentum.

The ag's went straight up and who wants to top tick them? But, the hard thing to do is often the correct thing to do.

It's a feeding frenzy in the Three Horsemen as ag's, metals and energies unwind further after what looks like failed pullback set-ups.

Liquidation of parabolic tops often times see six to seven straight days down.

Regardless of rally attempts, remember it's the close that traders take home with them.

Bunge (BG) is being magnetized to a Necktie (of its 200 and 50 dma's). See the chart below.


Click to enlarge


Position in BG


Emerged Markets - Ryan Krueger - 10:29 am

The Brazil Index Fund (EWZ) is breaking out on the Brazil credit upgrade by S&P.

As I shared in the "Next Soap Opera" these emerging economies have emerged and it's now going to become a domestic consumption story as opposed to just an exporting natural resources story. Brazil is creating its own consumers, not simply relying on the US's.

Follow the money. There are more than just mineral deposits in Brazil. New bank deposits are climbing.

See the chart below. I plotted two notables, Banco Itau (ITU) and Banco Bradesco (BBD) against Merrill Lynch (MER) and Citigroup (C).


Click to enlarge

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