TAN - Enjoy the Sunshine While it Lasts‏

I love the creative symbols that are sometimes used for ETF symbols, TAN being the symbol for the most actively traded Solar ETF in the US. Aftre breaking out past $21 in mid-May the group has been on a nice run, even pulling back and moving higher. This recent strong move up looks like good things are still to come, but how long will it last.....

...the weekly chart might hold some clues. The $32 level looks to be a significant resistance point, the solar group having taken a beating in 2011 and 2012. So, perhaps a few more significant dollars of profit are to be had but watch at the $32 level to see what happens, I would wager we will see the group having a tough time moving over that level. 

TSX - W and M - What is going on Man?

Looking like we have a nice little double bottom starting to form up on the daily chart. Trying to get back to 12,900....then a break above that would be significant. Perhaps more movement in the resource markets and in particular oil will keep things moving this summer. Looks like a bull for now....

The weekly chart emphasizes the 12,900 as a key resistance point. Interesting with a longer view we have the invert of the W...an M pattern (Head and Shoulders). If that 12,900 is not broken we could be heading into a difficult autumn, which is seasonally typical. Ride the short wave up, if it fails.....take a short position into the autumn.

S&P 500 - Indecision Today? Longer Trend Still Going Long

There seems to be some hesitation today on the S&P 500, a nice little Doji Star was left on the charts after the market close today. Those stars can be an indication of market indecision and a possible change in direction. 1650 was the range where the last upswing ended after the May 22nd Fed comments took some luster off the markets. We could be getting into a pattern of lower highs and lower lows heading into the traditionally weak autumn. 1540 looks like an interesting shorter term support level this summer...and

...1500 looks significant on the weekly chart. The upwards trend on the weekly chart is still intact and that being long is still the dominant trade to have. If the short-term chart breaks again and 1540 is broken watch for 1500 on the weekly chart....it that is broken it could be a tough fall.