https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png 0 0 David O. England https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png David O. England2016-06-07 21:26:542016-06-08 13:03:30EOM Market Recap 6.7.16 "Trading Tuesday" TIF
Today’s rally looked Bullish until the last hour when the selling hit-data from Stockcharts.com.
Per my Front and Center Chart I, the SPX could not run past 2119 and closed one point above R-resistance.
On Saturday, I posted a “Fun Quiz,” to see who could determine our “Trading Tuesday,” candidate.
My goal…to have some fun and stimulate “thinking.” The clue was the song “Moon River,” from the movie
Today I feature TIF-their profile from Yahoo Finance.
1. Institutions hit TIF hard on the short side after market tops
2. TIF dropped 70% from it’s October 2007 high…during the last SPX tumble
Key Points on TIF…
1. Previous drop are highlighted-red boxes
2. Is not trading with SPX
3. Continues its .40 dividend while the price drops
4. May have a nice short-covering rally if the SPX breaks out
When the SPX profit-taking begins, a $hort position could be a profit opportunity.
This three-year seasonality chart may give important directional clues.
The rest of the week, we analyze the rest of the momentum stocks and look for long and short
Enjoy your evening!
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