Dr. Julie Peterson-Manz reviews the Around The Horn stock action for January 19, and presents trade ideas that still have the possibility of triggering for January 20.
Since breaking above the 10-week moving average and a seven-month downtrend line in mid-December, UNG has formed a tight-ranged consolidation while holding above the 10-week moving average.
Across the FX market this morning there are growing signs of risk aversion patterns, which could be a precursor to a more defensive posture in the US equity market as the day progresses.
The stock market had quite a bullish session to start the trading week. The session began with a gap up, ran hard all morning, consolidated, broke to the upside, consolidated again in the afternoon and then surged late in the session to close near the highs for the day going away.
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