The AMEX Airline Index (^XAL) got some wind beneath its wings... up 18.1% for the quarter.
The CBOE GSTI Hardware Index (^GHA) and the PHLX SIG Steel Producer Index (^STQ) were both up a respectable 16.5%.
Also, the CBOE GSTI Internet Index (^GIN) gained 13.9% for the quarter.
And, the AMEX Gold Bugs Index (^HUI) is shining... up 12.6% over the last three months.
How are some of the other sectors doing? I'll show you in Market Metrics...
STX was up over 14% during the last quarter.
Let's take a closer look at the technical picture...
The weekly chart shows STX in the middle of a third Elliott wave up which began in August 2006.
The volume has tapered-off significantly as the stock nears a minor third wave top.
However, the Elliott Oscillator remains bullish... forecasting more upside potential.
Let's look at the daily chart for clues on trading this stock...
However, if the CCI dips into negative territory for more than six days in a row, look for the stock to trade sideways to lower.
For the time being, the MA Oscillator shows the bullish trend will continue. If it moves below zero and through the lower band... watch out - the stock will definitely be headed lower.
Another positive sign is the moving average channel has contained the price action as the stock moves sideways. Multiple closes below the channel, however, would tip the stock to the bears' favor.
Look for STX to trade above $27... trading to a final price target near $40.
Now is the time to re-evaluate your portfolios and make any appropriate changes based on sound technical analysis.
Until next time...
Russ Schmidt, President
Is hindsight 20/20?
favorite news reader, now!
Download Your FREE Special Report, Now!
Stock-Charts-Made-Easy.com is not an investment advisory service, a registered investment advisor or broker-dealer and does not imply or suggest which securities you should buy or sell. You should always check with a licensed financial advisor and/or tax advisor to determine the suitability of any investment.
It should not be assumed the technical indicators, analysis techniques or trading methods presented in this newsletter will be profitable or that trading decisions based on their use will not result in losses. Past results are not necessarily indicative of future results. Examples presented in this newsletter are for educational purposes only. Any trade set-up illustrated is not a solicitation to buy or sell a security. The author, publisher and any affiliate linked to this newsletter assume no responsibility for your trading results. Remember... there is a high degree of risk in trading.
The Commodity Futures Trading Commission requires the following statement: