By Greg Schnell
TICKER CLOUD HIGHLIGHTS RECENT IPO'S ... The ticker cloud can offer some unique clues on a quiet day. Today GOGO, VJET and TWTR are all recent IPO's that are showing up in the ticker cloud.Chart 1 shows the ticker cloud earlier this morning, while Chart 2 shows GOGO,VJET and TWTR. GOGO has made a nice move from $17 to $26. VJET started in October with a $13.00 tick and is hovering near $40. TWTR started at $27 and is now $74.
(click to view a live version of this chart)Chart 1
(click to view a live version of this chart)Chart 2
SHIPPING COMPANIES START TO MOVE. ... Other clues in the ticker cloud show DRYS and FREE. Both are major shipping companies that have really been crushed over time.
DRYS was a $128 stock that collapsed hard. About 99%. It made a new 52 week high and 2 year highs on Tuesday and continued higher today. Highs, highs and more highs. As you can see it was not always like that. After an exceptional run from under $8 in 2006 to $128 in 2008 at the top of the commodity cycle, this stock went from market darling to market disaster. Bottoming under $3 in 2009 it has migrated lower under $2. It now looks to be making the first series of higher highs.
(click to view a live version of this chart)Chart 3
A $2229 STOCK SELLING FOR $2 - JUST ABOUT FREE... FREE was a $2229 stock that went to $0.82 this year. After rising four fold in 2006, it has struggled to stay afloat above the 10 month MA since the 2009 rebound. It currently has not made a move above the 10 month MA which roughly equates to a 200 DMA.
(click to view a live version of this chart)Chart 4
GLD BOUNCES OFF HORIZONTAL SUPPORT ... GLD found some support after the recent test at 3 year lows. At this point there is some positive divergence with the MACD making a higher low, but this is still a very weak MACD.
(click to view a live version of this chart)Chart 5
CRUDE TRYING TO SET RECORD HIGH YEARLY CLOSE... If $WTIC can close out the month above $99.20 it will be the highest annual close ever. The last few years have traded in a very similar range on the big picture. The trading range generally looks similar due to the size of the candles. An interesting fact regarding the annual close is 3 times in the last 10 years crude has closed between $95 and $100. The candle 'wicks' tell an interesting story too. In 2013, crude is sporting a higher low than ever before. The 2013 low is more than $7.50 higher than 2012. It is also important to note the rising lows of the last 4 years. Lastly, we can see the $110 and $115 area as significant resistance in each of the last three years.
(click to view a live version of this chart)Chart 6
US INDEXES LOOK TO CLOSE OUT THE YEAR IN THE TOP RIGHT CORNER... The US markets continue the ascent of the wall of worry. Last year the Fiscal Cliff was sagging markets, but this year everyone is looking skyward as the Santa Sleigh did leave the North Pole. This chart looks similar to Santa's launch angle. Bottom left to top right. Up, Up and Away!
(click to view a live version of this chart)Chart 7
Edited by PrintFaster, 28 December 2013 - 11:33 AM.
