Bond yields are converging before some big events this month.
Today’s idea studies the yield on the 10 Year Treasury note. It is arguably the most important chart in financial markets given the current focus on interest rates.
Upside in TNX has punished sentiment on various occasions, so potential downside signals could be especially noteworthy for risk...
American Express broke out to record highs in January. Now after six weeks of tight price action, some traders may expect further upside.
The first pattern on today’s chart is the jump on April 19 after earnings beat estimates. AXP cleared the late-March closing high around $229 and proceeded to retest and hold that same level on May 3.
So, the current month’s...
3M is emerging as a potential turnaround story following years of downside. Now trend followers may take interest in its latest pullback.
The first pattern on today’s chart is the trio of high-volume bullish candles since early March. MMM raised guidance, spun off its Solventum NYSE:SOLV health-care division and then ended with a consensus-beating quarterly...
Seagate Technology has been consolidating near long-term highs, and some traders may expect a breakout.
The first pattern on today’s chart is the rally between May 3 and May 16. The data-storage company retraced half that move before continuing upward. That may confirm it’s moving higher.
Next, the bounce occurred above the May 13 weekly low and the 21-day...
Tesla rallied in late April after reporting quarterly results. But now some traders may think the bounce is fading.
The first pattern on today’s chart is the series of lower quarterly highs since last summer. (They’re marked in yellow.) Those may show the presence of a longer-term downtrend.
Second is the set of converging lows and highs over the last month....
Nextracker went public in early 2023, which were dark days for solar energy. However, some traders may see brighter times as the industry rallies.
The first pattern on today’s chart is the series of higher lows since early last year. Is a longer-term uptrend taking shape?
Second, the most recent trough occurred near the 200-day simple moving average (SMA). Its...
The S&P 500 tried to break out yesterday, but got rejected at the highs. Some traders might view the resulting bearish outside day as a potential reversal pattern. How much damage was actually done?
The first pattern on today’s chart is the March 28 peak of 5265. Notice how SPX made a new high by crossing this level on May 15. Yesterday’s pullback tested it and...
JPMorgan Chase hit a record high on Monday morning but failed to hold. Now some traders may worry about a potentially bearish reversal.
The first pattern on today’s chart is the high-volume drop on May 20, which erased the previous seven sessions of gains. That could be interpreted as a false breakout. (Bearish outside candles also appeared on both the daily and...
Dollar General fell sharply in 2023. Now, after a period of consolidation, some traders may see further downside.
The first pattern on today’s chart is the large bearish engulfing candle on March 14, which occurred despite results beating estimates. The discount retailer stalled below that session’s high in April. This month, it stalled near the low. Has old...
Exxon Mobil rallied in March and early April. Now, after a pullback, some traders may expect further upside.
The first pattern on today’s chart is the falling trendline along last month’s highs. The energy giant closed above it on Friday, which could be considered a potential breakout.
Second, the low on May 3 occurred near a 50 percent retracement of the...
Boeing has been falling since the beginning of the year, and now some traders may expect the downward trend to continue.
The first pattern on today’s chart is $183.14, a weekly close from April 5. BA challenged that level on May 6 and 14, but each time closed below it. That may suggest that resistance is forming.
Next you have the large bearish outside candle on...
Super Micro Computer began the year by more than quadrupling. Now, after pulling back for two months, some traders might expect further upside.
The first pattern on today’s chart is the falling trendline along the closing highs of March and April. The maker of AI servers is now trying to push back above that resistance.
Next, MACD is turning higher and prices...
Ford Motor is squeezing into a tight range, and some traders may see potential for the automaker to start moving.
The first pattern on today’s chart is the falling trendline along April's highs, which prices tested yesterday. A close above the resistance may be considered a bullish sign.
Second is the February 26 low of $11.95. Ford bounced in that area in...
eBay rallied earlier this year, and now some investors may see opportunity in its latest pullback.
The first pattern on today’s chart is the July 2023 high of $49.48. EBAY tested this level on April 17 and held it again last week. Has old resistance become new support?
Second is the rally between February 27 and late March. Notice how the online-auction stock...
Booking has pulled back for three months, but now the online travel agency may be starting to move.
The first pattern on today’s chart is the bullish gap on May 3 after earnings and revenue beat estimates. BKNG cleared a weekly high from April 24 and subsequently held it. Prices also broke above the falling trendline along the peaks of February, March and April....
Bitcoin has moved sideways since the end of February, and the cryptocurrency may face a big test soon.
The first pattern on today’s chart is the $69,000 peak from November 2021. Prices inched above this level in March and April but failed to hold. Traders may next view a return above the old highs as a bullish signal, while remaining below them could make the...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support.
The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to rebound after holding previous levels.
The stock is also bouncing near a falling trendline along the...
Stocks rose last week, but a more important signal may have come from the yield on the 10-year Treasury note.
Today’s idea uses multiple time frames to consider whether borrowing costs have finally peaked.
The first pattern on the daily chart is the gap lower on November 2. It was a key day when labor productivity improved much more than expected and labor costs...
