What can you learn from charts in such an unpredictable market? Chart expert Quint Tatro shares his outlook!
Following is a summary of the main points made by Quint Tatro, founder of Tatro Capital on “Fast Money.”
Chart: S&P 500 Weekly
Analysis: With the trend lines bouncing around, Tatro calls the index "no man's land." Wait and see, he counsels
Chart: S&P 500 Daily
Analysis:It seems we’re retesting the January lows, but we have a higher low which should be positive.
Chart: Savings & Loan Index
Analysis: I see a double-bottom with high pennant, Tatro says. S&Ls may have bottomed and are worth watching because they could go higher.
Chart:People's United Financial
Analysis:Double-bottom - first in August, next this year. It appears this stock could go higher. Tatro recommends taking a “nibble” in anticipation of any move..
Chart:Hudson City Bancorp
Analysis: The technicals are attractive, says Tatro. It appears this stock is continuing to grow year over year.