11/28/2014
Tech ETFs, Semi-Conductors, Big Retailers are
particularly well-represented. The drop in
oil prices is also benefitting the full spectrum
of transportation stocks.
But watch out for False Breakouts as shown in CENX.
False breakouts are more likely to occur in special situations outside
the hot industry groups here.
Breakouts that quickly fail the breakout and close below the 21-day ma.
Usually there is a CP NC, OBV, Relative Strength or
Accum. Index non-confirmation to serve as a warning.
In CENX's case, the CP and IP21 did not confirm Wednesday's
breakout. This is especially important after there has been an
extended DJI move because the chances of a general market
pullback and profit-taking add to the risks....
