Bruce Kamich is TheStreet's in-house technical analyst with a 43 year career with a number of bulge bracket firms like Morgan Stanley, Smith Barney Harris Upham, and Merrill Lynch. Along the way he accumulated knowledge about the fundamentals of the commodity markets, interest rates, equities and ETFs.
In addition to writing for theStreet.com Kamich has been teaching technical analysis at Baruch College for the past twenty years.
Kamich was one of the earliest Chartered Market Technicians or CMTs, a professional designation similar to the CFA title. He has authored two books on charting and technical analysis - "How Technical Analysis Works" and "Chart Patterns." He is a two-time past president of the Market Technicians Association (now called the CMTA), the professional organization for chartists worldwide. He was also the president of the Market Technicians Association Educational Foundation (MTAEF.org).
Charts can always "go bump in the night" but right now it looks like Wix.com can break out to new highs.
With considerable chart resistance in the $50 to $56 area International Paper is not attractive at this time.
Prices have moved above the early January high giving us the simple definition of an uptrend.
CMI looks poised to break above the October and December highs, but it may be held back by news or rumors on the U.S.-China trade front.
The problem with leading indicators is that they lead.
Let's check those charts and technical indicators in light of the negative reaction to their latest numbers.
Let's see how the charts and indicators are positioned ahead of this fundamental release.
Under Armour rallied sharply recently and it is now only about $2 or so away from what looks like a major upside breakout.
One day I would have given it up for dead and the next instance it jumps $25. You cannot make this up.
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