URBN Watch

Urban Outfitters Inc. (URBN) threw off the weakness that was showing on its chart, breaking out of range to set a swing high.

In Monday's post, I wrote, "...it may be that the ride is about over."

Well, no.

The Japanese have a catch-phase appropriate to the occasion, one that is heard throughout the world of business in Japan: "Jotai ga kawatta" -- "The situation has changed."

This is about the best way of saying "Oops! I goofed!" that I've ever run across.

So, with regard to URBN, the situation has changed.


Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.


No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

Abbreviations:

• h-a trend - Heikin-Ashi trend.
• obv - On-Balance Volume.
• pps - Person's Proprietary Signal.
• psar - Parabolic Stop and Reverse
• ma20 - 20-day moving average
• ma50 - 50-day moving average
• ma200 - 200-day moving average
• macd - Moving Average Convergence-Divergence

About the glance: The colors indicate the state of each signal.

• Signal Section:
• pps, psar, macd: green for bull mode, red for bear.
• Confirmation Section:
• obv: green for uptrending, red for downtrending.
• h-a trend: green for uptrending, red for downtrending.
• Environment Section:
• ma20, ma50, ma200: green for above the average, red for below the average.