Linvest Chart Chat (112) Weekly Update Feb 12

Linvest
Chart Chat (112) Feb 12, 2016 Weekly Update
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By Lin Yingjun
Last Friday, the U.S. stock market sold off and rallied. The SPY bounced from its support levels and the line
within Options Equity Put/Call Ratio rolled over to the down-side (see: $CPCE in Chart 2). The Breadth and
Breadth Oscillators are deeply in oversold territory, revealing a buy signal. $VIX pulled back slightly. In short,
the equity market performed a short-term rally while mid- and longer-term outlooks remain bearish until the
price within the S&P 500 Index (see: SPY Chart) rises above $198 and $200 to reverse the downtrend. GOLD
prices extended the rally as its price broke 200 dma last couple week given that GOLD prices are now coming
into their seasonal strength (typically from January to early April.) On the other hand, I don't think that the U.S.
Fed will hike its interest rate in March given the current weakness of the U.S. economy. Therefore, the price of
gold price may hang in over-bought territory for the time being while the U.S. dollar dips against many
currencies and commodities. As such , I would mark the support price of $GLD at between $118 and $115 with
its next resistance price arriving at $125.
Crude oil prices bounced from their support price of $26: the short-term bottom from which the price rallied
upwards last week with $30 as the resistance price (this was neckline support that was broken and turned into
our current resistance price). Now, if oil prices rally above $30/barrel, then $32 and $35 will be out next
resistance points. To this end, we will interpret prices above $35 as a bullish signal and may see $37 and $40.
Conversely, we will take prices below $35 -$26.50 as a bearish trend.
Natural gas price is at a support price of $1.97, making it short-term bullish if it manages to bounce from this
level, and bearish if it remains at (or reaches) below this level. Either way, it is a pedigree “show dog!”
That’s it for the week. Thanks for reading and good trading with your plan!
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More intermediate-term trading ideas watch list (Long and short):
Leader stocks: AAPL ,GOOG, CMG, AMZN, ISRG,NFLX, PCLN, CF, FB,TWTR,TSLA,
Bio, health and Pharmaceutical: ACAD, AMPE,ADXS, ACHN, BIIB, ONVO, CRIS, CERS, INSM,TROV , PRTA, RMTI,RTPT, RGLS, NVTA
China Stock: BABA, VIPS, DL, EJ, FENG, JRJC , KNDI, WB, BIDU, XRS,DANG, VISN,YOKU
Commodites: UNG, NGS, JO, SGG, USO, GDX,GDXJ, SLV, CORN, JNUG
Energy and service sector: XLE, PDS, BBEP, MPEL, ALA.TO, SU, ECA, BTE, DO, UCO,SCO. DWTI
Solar Stocks: TAN, CSIQ, CSUN, TSL , SCTY, FSLR, JASO, SPWR
Precious metal,and mining companies: X, SMF.TO, GLD, EGO , CG.TO, IMG.TO, EDR.TO, SLW, NEM, SA
Prime : AKAM, BA, BX, CVU, MOS, LVS, KEM, HLF,WAG,WDAY, WHR,HSY, ED,XLE,
Airline, Cruise , hotel, restaurant: UAL, DAL, ALK, WJA.TO, AC.TO CCL, NCLH, RCL, EAT, MGM, LVS
Currency pair: EUR/USD: EUO, FXE; USD/CAD, CAD/USD, FXC
Green: stocks with long position.
Orange: stocks with long positions (small).
Red: stocks with short position.
Black: candidate stocks.
(Note: Some positions are not in the abvove list.)
Notable companies to report earnings and report this week include:

Monday:

Tuesday: RAX FOSL

Wednesday: PCLN* CF

Thursday: WMT SODA
US Change in Crude Oil Inventories 11:00 AM ET ( Thursday)
US Initial Claims for Unemployment Insurance 8:30 AM ET
Weekly Natural gas storage 10:30 AM ET

Friday:
*Report date unconfirmed or prefer pre order
Members, please feel free to send me a note or call if you would like to discuss any of the above (or other) stocks you are interested in. Please pre-order Earning
Trades at least 2 days prior to stock earning report being issued. Thanks and good trading!
Linvest Research
https://twitter.com/LinYingjun
[email protected]
www.linvestresearch.com
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