Zero Hedge
0
All posts from Zero Hedge
Zero Hedge in Zero Hedge,

"It's Nervous Time" For Holders Of These "90-Day Breakdowns"

Since stock "market" fundamentals haven't mattered in about 6 years, maybe it is the technicals that do (not really: only the Fed's $4.455 trillion in "assets" matters but that's a different story). In which case, here is a chart of the SPX with the key 50 and 200 DMA support levels: keep an eye on the red line - if the 1904 support is broken, it's a long way down.

 

That's the macro. What about the micro?

For the answer we go to the list of 90-day breakouts and breakdowns.

As a reminder, a 90-day breakdown is a sign of technical weakness. Stocks with 90-day breakdowns are those that reach a 90-day low with volume greater than +1 standard deviation from the 90-day average of volume. And the opposite, or bullish, for breakouts.

Here is the latest list of breakouts: BDX, CB, COST, D, DRIV, DTE, DUK, ED, HAWK, HAWKB, INN, KO, KR, PJC/A CN, SO, STE and WMT

As for breakdowns, well...

AAL, ABB, ABX, ACI, ADI, AES, AG, AGCO, AIG, ALGT, ALK, ALU, AMID, ANR, ANV, ANV, AON, APA, APC, ARMH, ARP, ATEN, ATH CN, ATVI, AUY, AVP, BBEP, BHI, BHP, BMS, BTE, BTE CN, CAJ, CAM, CAT, CCE, CFX, CHK, CLF, CLR, CMC, CMRE, CNQ, CNQ CN, CNW, CNX, COG, COP, COS CN, COSWF, CPG, CPG CN, CR, CTCM,  CVE, CVE CN, CVX, CX, CXO, CYOU, DAL, DDS, DE, DOV, DRQ, DVN, EC, ECA, EMES, EOG, EPE, ERF, ERF CN, ESL, ESV, EVEP, F, FLR, FLS, FM CN, FMC, FR CN, FST, FTI, FWM, GG, GM, GOLD, GSK, GSS, GT, GWR, HAL, HAYN, HBM, HCLP, HES, HP, HSE CN, HSIC, HUN, IAG, IGM CN , IMG CN, INT, ITT, JCP, KEX, KGC, LGCY, LIF, LLTC, LOPE, LPI, LPX, LRE, MAN, MCEP, MDCO, MG, MGA, MMLP, MON, MT, NBR, NE, NEM, NGD, NGD CN, NLSN, NOV, NWSA, OAS, OXY, PAAS, PBCT, PCLN, PD CN, PGF CN, PGH, PPG, PTEN, PWE, PXD, QRE, RDS/A, ROK, ROSE, RPM, RPT, RTI, SAP, SAVE, SCCO, SCHN, SDRL, SLB, SLCA, SLW, SSW, STO, SU, SU CN, TAL, TCK, TCK/B CN, TCS, TEN, TGI, TLM CN, TLP, TMK, TOO, TXT, UBS, UNM, URI, UTX, VET, VET CN, VIP, VNO, VNR, VSH, WDR, WFT, WLK, WLL, WLT, WMMVY and ZNGA.

Source: Bank of America