Since selling off to “undercut” support of its 50-day moving average two weeks ago, the inversely correlated ProShares UltraShort Euro ($EUO) has been trading in a tightening, sideways range, holding above support of its primary uptrend line and 50-day moving average. As the daily chart pattern below illustrates, the primary uptrend has been in place […]

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Yesterday (August 16), the main stock market indexes rallied to break out above the confines of their week-long consolidation patterns. Most importantly, the bullish breakout was confirmed by increasing volume in the broad market. Total volume in the Nasdaq surged 27% above the previous day’s level, while turnover in the NYSE rose 17%. Since yesterday’s […]

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Stocks got off to an encouraging start yesterday, as the Nasdaq and S&P 500 indices gapped to open above the highs of their week-long consolidation patterns. However, in an opposite pattern of the preceding two days, the broad market reveresed in the afternoon, causing the main stock market indexes to fade to new intraday lows […]

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On August 2, small-cap stock Cambrex Corp ($CBM) reported quarterly earnings that blew away analyst estimates by 50% (33 cents EPS vs. 22 cents EPS). That day, traders piled into the stock, driving its price 22% higher on volume spike that was nearly 500% greater than average (highlighted by the pink ellipse on the chart […]

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