CNQR looks like a good trade

CNQR appears to have been in an uptrend channel for the last six months.In that time span, its RSI5 has dipped below 30 on three occasions, each time followed by a quick return above the 5-day MA in only a few days.  Its William %R(14) has also dipped below -80 on three occasions (two of which coincided with RSI5 dips), and each time it was followed by a sizable gain. Today CNQR shows all these signs:

1. RSI5 just dipped below 20.
2. %R just dipped to -100.
3. It closed below its lower Bollinger band range.
4. Chaikin Money Flow is still in positive territory

Is it too good to be true? Based on these signs, a gain of 2% or 3% in the next few days seems very likely.

EDIT: It closed at 52.81 on Monday 1/3, so yes, it would have been a good trade.

CHK possibly near a top

CHK (Chesapeake Energy Corp.) was mentioned in an intelligent Seeking Alpha blog post today.  Although they recommend buying, they don't say exactly when to do so.  By looking at the chart, it seems that it's near a top, while the intermediate-term trend is up. This stock has found meaningful tops in June and October, followed by meaningful drops of 18% and 12%, respectively.  If the current resistance at 26.49 holds, a move down to the nearest support could be expected.

Shorting a stock in an uptrend is generally not a good idea. It may be wiser to wait for the next dip and go long.

Jan 3 UPDATE: today it closed at 26.51, just 2 cents above the resistance line set above. Will it break up or drop tomorrow?

$FVX did not sustain break past 61.8 Fibonacci retracement

I am interested in $FVX (5 Year Treasury Note Yield) because the prices of both MFBFX and FBIDX are inversely correlated to intermediate-term treasury yields.

$FVX has been on a rip since early November.  It looks like it may have found resistance around 21.  It actually went past it two days ago, but now it's back below it.  Another move above it would be bad news for bond prices.

It needs to be closely monitored in the next few days.

SPX in strong uptrend, clearly overbought

SPX is clearly in a strong uptrend.  Both CCI and %R suggest overbought levels. It would be best to wait for the next correction.  The last correction, in November, was a 3.6% drop from 1224 to 1180 that took 7 days to develop.  The 1180 level was strong support.

Using Fibonacci lines, from the last bottom of late June, and placing the 38.2% level near the last strong support, I see a possible near upside target at 1275, and next support line near 1215.

FBIDX at critical juncture

FBIDX is hovering at its 38.2% Fibonacci support turned resistance turned support, near the 11.30 level. Below it, the next support is at 11.21, while the next target up is 11.43.

The two dips below the 200MA is December were reversed immediately, and right now CCI and %R are looking positive.

In light of all this, it may be best to wait for FBIDX to show more direction.

Another positive sign is the Chaikin Money Flow for AGG, which is the base index for FBIDX.  It has turned positive after the first dip below the 200MA in mid-December.

MFBFX possibly at end of correction.

MFBFX seems to be turning up, is 2.5% off its 13.70 top of early November.  Support is at 13.23, resistance is at 13.41.
In any event, it is still above the 200MA, and both %R and CCI look promising.

It may be best to hold on to MFBFX, unless it breaks below 13.23.