AP Picture/Seth Wenig
The inventory market might consolidate its achieve this week, however the total development stays up. The next week is choices expiration week, which has a bullish bias.
Right here is the efficiency of the US markets for the reason that October low. Notice that the equally-weighted and the small-cap indices have been the leaders. The worth index is outperforming the expansion index.
Most shares are rising.
We scan the S&P 400 for purchase candidates. The display screen seeks shares which can be comparatively sturdy and are approaching a good cyclical interval.
Owens Illinois is on the high of the record. It isn’t solely getting into a extra favorable interval; it’s also comparatively sturdy. The primary graph beneath exhibits that the inventory has been sturdy within the first half of the yr, however weak within the second half. The second chart paints a really favorable near-term view. Weekly, we see increased lows in momentum and relative energy. The share value has damaged out of a three-year formation that initiatives a value within the mid-thirties. The month-to-month graph is constructive for the longer-term. A 14-year downtrend line has been damaged to the upside supported by increased lows in momentum and relative energy.
Owens Illinois Annual Share Change
A lot of the share value energy has occurred within the first half of the yr.
Owens Illinois Weekly
This can be a bullish value setup.
Owens Illinois Month-to-month
The month-to-month image can also be constructive.
Terex
TEX
Terex Month-to-month Histogram
This image factors to increased costs.
Terex Month-to-month Graph
Momentum factors to a break of the $55 degree to a brand new restoration excessive.