Shippers

If you happened to miss GNK (click to view) when it broke it's neckline on June 9th, you may have another chance. Often, after a H&S pattern has been validated, a retracement back to the neckline can provide a low-risk shorting opportunity. In this case, entry at current levels, with a stop above 64.50 would provide such an entry.

Here's a look at the competition to get an idea of the health of the sector.
DRYS
EGLE
EXM



Create alerts for the following:
GOOG - go with the direction of the breakout
CVD - short on a close below 78.50
PG - short on a close below 64.72
ADBE - short on a close below 40.51

I'll try to find some longs to balance this out but most of my charts are pointing down in the short-term .

Trading for a Living
When the slope of MACD-Histogram moves in the same direction as prices, the trend is safe. When the slope of MACD-Histogram moves in a direction opposite to that of prices, the health of the trend is questioned. It is best to trade in the direction of the slope of MACD-Histogram because it shows whether bulls or bears dominate the market. The slope of MACD-Histogram is more important than its position above or below the centerline. The best sell signals are given when MACDHistogram is above its centerline but its slope turns down, showing that bulls have become exhausted. The best buy signals occur when MACD-Histogram is below its centerline but its slope turns up, showing that bears have become exhausted.
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