Slope of Hope

The following two Year-to-date Daily charts show how much the Russell 2000 Index is lagging behind the Dow 30, S&P 500, and Nasdaq 100 Indices.

The first chart is a simple comparison which shows the percentage gained for each from the beginning of this year.

Small-Cap stocks have, basically, spent a considerable amount of time in negative territory, while trading sideways from the beginning of this year; meanwhile, Technology stocks have been the favourite, followed by stocks in the SPX and the INDU. (more…)

Here’s today’s swing-trading watch-list:

Long Broadcom (BRCM)

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The almighty dollar continues to be strong, particularly compared to the Draghi-drubbed Euro. This was a very clean breakout, and there’s no reason to dismiss the idea of a long-term bull market in the buck.

I posted the chart below on twitter last night. It shows a triangle breaking up on SPX at the close with a target in the 2033 area. Triangles are slippery patterns and this one could yet reverse and break down, but my lean coming into today is bullish. SPX 1min chart:

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