The British Pound has been consolidating since its huge run up. It now appears to be forming a head and shoulder continuation pattern. A break above 1.4 and I will add more longs to this position.
The 5 year is breaking down again. This is turning into a very profitable trade this year. I will add more shorts if it closes below 123’180.
The action in Soybeans has me a bit concerned. If it continues to chop sideways next week I will exit this trade.
One of my favorites is American Airlines. I think all of the airlines are going higher. I plan to ride this one for a while. My stop is still sitting at 18.69. I want to give this one room to run.
I have a sizable long position in GE. I would like to see it clear the 14.2 level next week. A break above 16 will be very bullish.
Trades like KHC are works of art. The small ascending triangle should launch it to my target price. Notice that after the break out it respects the 14DMA.
MSI is coming back to life. I have been in this trade for six weeks and have only a slight profit. If I do not see continued follow through next week I may just exit this trade.
