Stocks
GE Has Surged and Still Holds a Key Breakout Level. Here's the Trade.
-- General Electric shares are up more than 40% in 2023 and continue to hold above a key breakout area. Here's how to trade them now. -- By Bret Kenwell, TheStreet.com General Electric (GE) shares have been trading quite well, giving investors a surprising start to 2023. The industrial stalwart's shares are up more than 40% this year and have climbed 27% in the past year. Both measures trounce the S&P 500 and Nasdaq over those time frames. Interestingly, a few weeks ago GE shares underwent a massive breakout at the same time the U.S. stock market entered a wave of volatility. The breakout occurred ahead of the company's annual meeting after management gave an update on the business. Despite the recent bank-related volatility, GE shares have held up well and are still trading above the $90 breakout level. That's key action for the bulls, so let's take another look… more
Weekly Market Outlook - Yes, No, and Maybe... But Mostly Yes
Stocks managed to log a second winning week, but it was a less than impressive one. The S&P 500 gained a modest 1.4% last week, bouncing back a bit on Friday from the intraweek pullback from Wednesday's high. More important though, the index found technical support when and where the bulls needed it… at least for the S&P 500. The... more
Jerome Powell Just Thwarted the Rally... Or Did He?
On the surface it looks like Fed Chairman Jerome Powell deserves the credit/blame for Wednesday's bearish reversal. At first the market liked the idea of easing off on the FOMC's recent cadence of rate hikes. Then it didn't. It may have less to do with Powell's comments than it seems on the surface though. And, regardless of the reason, there's... more
Amazon Stock Is Teetering on a Breakout. Here's the Setup.
— Amazon stock is teetering on a potential breakout. But it's a move that the Federal Reserve's rate decision may influence. — By Bret Kenwell, TheStreet.com Big Tech has been back in play for investors, and that's got Amazon (AMZN) stock sitting on the cusp of a potential breakout. The e-retailing giant's shares have been trading quite well lately, as... more
Is the Drop in Caterpillar Stock Done? A Look at the Charts
— Caterpillar stock had been trading quite well until the last few weeks. Will the technicals support a rebound from here? — By Bret Kenwell, TheStreet.com Caterpillar (CAT) hasn't been in the news lately, but its stock sure has moved a lot. Shares have fallen hard over the last two weeks, tumbling more than 15%. When the company reported its... more
Weekly Market Outlook - Last Week Was Good, Except For The Part That Wasn't
The market's downtrend underway since early February was quelled last week, but not decisively. Some of the indices were able to fight their way back above technical resistance. Others were not. The one index we wanted to see achieve the feat though — the NASDAQ Composite — did the job. This gives the bulls just a bit of an edge.... more
Credit Suisse, Europe Banks Drag Down S&P 500. Here's the SPY Trade.
— The SPY ETF looks vulnerable as it leans on key support. How it trades from here will be critical for the next development on the charts. — By Bret Kenwell, TheStreet.com The S&P 500 has been all over the place, but why shouldn't it be? A banking crisis was sparked late last week with the collapse of SVB Financial... more
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