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Markets ended the week Friday positively for both the Nasdaq and S&P 500. They have now completed a perfect 4 for 4 weekly gains for 2013. The S&P 500 more than doubled the Nasdaq’s gain this week, advanced 1.14% compared to the Nasdaq’s .48% move. Of course AAPL’s earnings debacle Thursday had a lot to do with that. To support the markets bullish thesis, breakouts continued to flow Friday. Cup with handle breakouts included SBUX and LL taking out triggers of 56.10 and 57.34 respectively. Flat base breakouts came from household names BUD 91.31, and PG 71.09. As the markets continue their seemingly relentless move upward, it would be prudent to keep an eye on any potential pitfalls on the horizon. Perhaps the performance of some stocks that have Chinese exposure raised some eyebrows this week. The Chinese ETF FXI is still functioning admirably, as it still hovers above its 3 week tight trigger breakout of 39.90, on New Years Eve. However equities like COH YUM CHL could be signaling some issues down the road. COH lost 17% this week following an earnings miss. It briefly had the look of a possible trend change as it reclaimed its 200 day SMA last week. Both YUM CHL have lost ground for three consecutive weeks, far from mirroring what the major benchmarks have done this year thus far. All three are now below their 200 day SMAs, and could they be forecasting impending doom? Doubtful, but something to stay aware of.Sign Up to Continue Reading