Volatility registered a definite uptick in today's New York trading, with the S&P500 touching a fresh 4-year high (surpassing the previous high-water mark of 1422, set on April 2 of this year, by four points) before selling-off into the close.
This evening's chart wrap-up focuses on five different equities: NASDAQ-100 components CTRP, EXPD, GMCR and SYMC, and S&P-100 component LMT.
Ctrip.com International (CTRP), a Chinese travel agency, has been in a lengthy bear market. The hourly-candles chart, stretching back to December 2011, shows a painful halving of the stock price; moreover, the bear market extends back to late 2010, when CTRP was a fifty dollar stock. The past month has seen a strengthening rally, with waves of buying reaching ever higher and volume growing on the advances. The buying may continue to the six-month price channel boundary, presently about a dime below $16. A break above is likely to portend continuation still higher. The truculent bear should review the last several weeks of
First Solar (FSLR) price action.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiS_ZpC6UmMOFOsj4HvpMoBJQQvSaXMsW6DnTZ2sbV9M09iL8yOYcnJHDj1QycDUlBVPLrHp7iKw-d9rOu8zEqgIqYz156KoW7ZjCzSfMcKMBPmxxiZfgx92hIfvGeEZKiOKg7thq28QI0/s640/CTRP+Dec+2,+2011+to+present+1h.png) |
CTRP. Dec 2, 2011 to present. Hourly candles. |
Expeditors International (EXPD) is likewise looking up. Price action has just broken through a six-month price channel, having surpassed the 200-period simple moving average (based on hourly candles) about a week ago.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhC5Nk7F77kcqSu6jpkjdinyMvzMDuPjiQRKm6BoogYYl3ONc3b350rWbRtvWSnrOlKK7UXx2MuVk1DZOGNVULj_8QKpPSc_efpGn-xXSL_qkGUEjB06tuI-P7Xp-K8pmbKBH5A14EZQg/s640/EXPD+Dec+2,+2011+to+present+1h.png) |
EXPD. Dec 2, 2011 to present. Hourly candles. |
Green Mountain Coffee Roasters (GMCR), another FSLR-like day-trading vehicle, is continuing its own post-earnings rally. Resistance from a 6-month price channel is likely to provide a pause; it's only about three percent above today's closing price.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo8xUd_tof4rIiFq9HjFCt9My_mikTyYNh6-AESEw-vIUc2JgNFdBTT6XoQE7PZsUdJLfcVpJ_cCmm5J4H0D7EP2yDcI_fWMMT4gL69HJMhlqPeJz62LBZLXP3Tx8vaAduV0IjUNfPPYk/s640/GMCR+Dec+2,+2011+to+present+1h.png) |
GMCR. Dec 2, 2011 to present. Hourly candles. |
Symantec Corp (SYMC) is likewise interacting with a significant price channel -- in this case, with a 15-month variety. Price has consolidated just underneath for the past three sessions, showing that the bulls are still in firm control. A break higher is more likely than it appeared late last week.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOtqrjRUd-m46FqHbtAcQz2Qcb5RxY0yh1JdiZrSSgIB9ZUAV2FfCBaEl2cjzwc7UKVMI38uU5FlMPsaBTRP4bE6SJa_CLykXv4EV2moSLmUaDNHVavmEe9K7KOqedZpoNruGtPSEu5CA/s640/SYMC+Aug+2008+to+present+1d.png) |
SYMC. Aug 2008 to present. Daily candles. |
Lockheed Martin (LMT), the defense contractor, may be in a capitulatory
rally; bulls should take note and consider hedging. On the
hourly-candles chart, price action has vaulted the equity right to the
resistance end of an exceptionally well-formed 3-month price channel; volatility has contracted, suggesting a regression to the mean is overdue (and volatility expansion almost invariably brings lower prices).
This over-bought sentiment is confirmed on the daily-candles chart,
where price is precisely at 3.5-year price channel resistance, albeit
vis-a-vis a channel that is only modestly well-formed.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBP8DuaCOHqAUZbNk2j3_r-k4fT2P0kOFPPMB6JyUQJ6uYd8VB6e_TlAIuLZk2vKsFNV8WJqcPANc8lepOXUZVFBzhs8oTqaWOK6y4wsSId6zOdom6ONgOMUNkB9fplD_csiHMk8I1RfI/s640/LMT+May+23,+2012+to+present+1h.png) |
LMT. May 23, 2012 to present. Hourly candles. |
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUZu1SF8w4wwFR-RAmzlylqcGni5f2vXL5FpDhK2wlf0IHnaeMA1NyQkXqGFCjbrzChXw9piax72CZkaRxRrT3JN22qz2Tftc-ObrrgmhAc0qSX1UkRghCHuYluqhuPEopRGXXp8Y3ePA/s640/LMT+Aug+2008+to+present+1d.png) |
LMT. Aug 2008 to present. Daily candles. |