Under Armour $UA is showing a signal day today making Monday an Entry Day to the long side. As always some retracement in price would be ideal, as in back to $40’ish. It is worth noting that this stock is in a wedge pattern from the weekly chart which could increase volatility.
Watching the Olympics is a decathlon in commercial branding. The mega-marketing schemes that accompany the Games aren’t necessarily stock movers for sponsors, but they can go a long way to creating emotional resonance with consumers — or make a laughingstock out of the brands involved, if the Twitterati are unkind.
All three major averages closed at record highs Thursday as oil prices jumped and several retail and apparel stocks posted strong gains. The Dow Jones industrial average rose 0.7%, as Nike ( NKE) climbed 3%. The Nasdaq and the S&P 500 each added 0.5%.