Fedex double top

By Colin Twiggs
April 16th, 2012 9:00 p.m. ET (11:00 a.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

Bellwether transport stock Fedex completed a double top reversal with a break through the neckline at $88. Retracement found resistance at $90 and reversal below the original neckline at $88 would signal a primary down-trend. Follow-through below Tuesday's low would confirm. Bearish divergence on 13-week Twiggs Money Flow warns of strong selling pressure. A primary down-trend on Fedex normally warns of slowing activity in the broader economy.

More....

For more coverage click here:

ASX 200 bullish ascending triangle

Hong Kong & China: Soft Landing

UK & Europe: Madrid in trouble

Selling pressure on S&P 500 and Nasdaq 100

Canada: TSX 60

Whenever you feel like criticizing any one... just remember that all the people in this world haven't had the advantages that you've had.

~ F. Scott Fitzgerald (1925)

Join Our Mailing List
 
Read Colin Twiggs’ Trading Diary newsletter,
offering fundamental analysis of the economy
and technical analysis of major market
indices, gold, crude oil and forex.
 

We do not spam.