Helene Meisler writes a daily technical analysis column and TheStreet Top Stocks. For more information, click here. Meisler spent more than a decade on the sell side as a market technician covering institutional accounts at various investment banks in New York City, including Cowen & Co. and Goldman Sachs. In addition she worked at Cargill in Minneapolis where she managed equity money for three years. She received her bachelor's degree in business from Pace University.
Or is that just the market? Because it's starting to feel like it did last fall.
An overbought pullback later this week looks likely, and it should lead to another rally – but we had the same set up in November and it didn’t pan out that way.
We broke out of that trading range, right? Wait, which trading range are we talking about here...?
After shattering the trading range, let’s assess what happened Thursday.
If we burst to the upside, we will see sentiment turn in a hurry -- and if we head back down, we get positive divergences.
Yes, we’re still stuck in the range – so let’s check out the statistics as breadth was the best in a month and we’re seeing the most new highs since Aug. 1.
Let's check out a case for the bears as everyone is so gloomy on the trade war, economic indicators and stocks in general.
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