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Hi everyone, here's the weekly technical outlook on the S&P 500. Over the past week, the index managed to break and stay above last week's high of 1,080. It has, however shown some weakness as it approached the next resistance level of 1,100. This level was a critical support/resistance level back during March to October 2004. [caption id="attachment_1309" align="aligncenter" width="600" ca...

I have a recent request to analyze Chesapeake Energy Corp (CHK), an oil and natural gas exploration and production company.  Stock technical analysis of CHK shows the price in a firm uptrend since hitting its bottom in December 2008.  However, CHK recently looks overbought as the price touched its line of resistance as shown below, and pulled backed.  This line of resistance is formed by joinin...

I recently received a request to look at how much momentum is left in the AIG rally, so here's my take on the subject! From the stock technical analysis below, AIG prices are facing a band of resistance between $56.80 and $60 formed by the highs of Nov 10 and Oct 13.  With a closing price of $50.23 on Friday, it seems that AIG stocks will likely face headwinds fairly soon in overcoming this re...

If you have been following my stock technical analysis blog recently, you would have made quite a bit of money on AIG after I made a call to buy the stock.  However, I also mentioned that this trade ought to be a short term trade because of short-term resistance at $30.  Also, the fundamentals of the stock do not look good. Interestingly enough, the stock price on Thursday shot past the $30 r...

The US stock market was in for a bloodbath today as Lowe’s missed analyst expectations for its quarterly profit, sending fears that consumers may remain tight-fisted in their spending habits.  But those who have been following my market trends blog would also know that the present correction  is due to the S&P 500 touching major resistance at its Fibonacci 38% retracement level.  So hang ...