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Sunday, March 10, 2013

interesting technicals... SP500 $fb $bac $ebay $vlo

SP500 - On Jan 20th I highlighted the 'new dynamic' the market would be entering. Looks like we keep pushing to that new dynamic.  The monthly SP500 chart is trying to push through. (Although a leadership rotation may cause a consolidation. See VLO below.)

FB - Either its going to bounce from the current support via the daily or it may test  around 25 via the weekly chart

BAC - looking for BAC to approach its 9SMA.

EBAY - Its performance on mobile, payments and leveraging GSI is impressive.  The stock is now at the 90 sma support, which it has bounced off of in the past.

VLO - A market leader that is breaking its first level of SMA support.  Should see a short-term bounce off the 38 sma. Not sure if it will continue its march higher until a consolidation takes place. (It already saw a growth in earnings and multiple expansion. May be due for a consolidation.) I am looking for the 100 SMA to be achieved. (Don't think the stock will collapse to the SMA, but the the two may converge over the next few weeks.)

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