Bullish Idea Updates: TLT, AAPL, ACI, GDXJ, CWI

I thought I’d provide an update on how I currently read some charts that I have noted as bullish configurations in recent months.  First TLT, the 30 year Treasury ETF.  It has rallied off its base and will soon arrive at resistance.  With the broad domestic and international markets also near inflection points (see CWI below), I imagine the story will play out in correlative fashion.  So far, no clear signals, though junk bonds (JNK) continue to hold up as though there isn’t a care in the world.  Anyway, here is the TLT chart as I see it:

2014-04-30-TLT_CHARTS

It’s worth noting that one of my favorite bloggers, Chris Kimble, posted a pretty decent contrarian case for TLT’s upside.

AAPL formed a very pretty cup and handle over the last 18 months and has clearly broken to the upside.

2014-04-29-AAPL_CHARTS

The question is whether a cup and handle is a valid read after a 10 year rally?  It is more commonly seen as a basing formation.  I guess only time will tell.

2014-04-29-AAPL-LT_CHARTS

Speaking of basing, ACI has dropped over 90% in recent years.  Coal is widely despised or ignored.  Sounds like basing to me, so I am very interested.  Despite bad earnings last week and a sharp drop, ACI has held at support and remains bullishly configured in my opinion.

2014-04-30-ACI_CHARTS

Gold continues to behave weakly, albeit erratically.  Ukraine presents a wild card.  All the wild, gold miners (both GDX and GDXJ) have formed beautiful inverse Head-and-Shoulder patterns.  The GDXJ pattern looks like a textbook beauty to me.

2014-04-30-GDXJ_CHARTS

And last but not least, look at the big picture, I offer up CWI.  It one of many all-world ex-US ETF’s (and they all have roughly the same chart formation).  What I see is a clear ascending triangle; a pattern that is typically bullish.  All it needs is a breakout.

2014-04-29-CWI_CHARTS

Good luck in these turbulent markets!

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