Guy Ortmann is Senior Technical Analyst and Director of Research at Scarsdale Equities, a boutique investment banking firm in New York. He is a  Chartered Market Technician as well as  a registered fundamental research analyst  (series 86, 87, 7, 63, 24) with almost 30 years of  experience on Wall Street.Expand

His technical research involves general markets, sector specifics and individual equities, that have been noted in  Forbes, Reuters, Dow Jones Newswire among other publications.Collapse

These names are showing either bullish or bearish reversal patterns.
We have yet to see any technical evidence that would make us change our view.
Valuation is at a new peak, but all of the near-term index uptrends remain intact.
The current state of the charts and data continue to suggest the near-term uptrends.
The chart trends are positive, and have remained intact so far.
Valuation remains elevated, and weakening breadth implies selectivity.
In addition, weakening market breadth is worthy of some concern.
These names are showing bullish or bearish reversal patterns that occurred over the past week.
While valuation is a concern and market breadth needs improvement, the equity indexes should be respected for their own individual near-term, mostly positive trends.
No support levels were violated on the charts, but some warning signs have appeared.

Columnist Conversations

Just sat down with the COO -- I don't think many understand how experienced this management team is. Would be ...
Earlier this week the market was anxiously looking ahead to the Fed and expected Jerome Powell to provide some...
Wow $27 to $28 open.
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