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The Chartman

Wall Street Struggles to Gain Traction

In general, the past week was positive, but boy, the market sure doesn’t have a lot of traction. In fact, DC-area folks will realize the market is lot like the Nationals: it can’t seem to put a win streak together that lasts any longer than two days.

That said, I noted last week the potential head & shoulders was positive, and so far, that’s holding.  I still think a strong day is in order to establish some upside momentum.

When I think of “funk” I think of my battle with Google (GOOG).  Its steady drip down is killing me, but hopefully it’s one big day away from a comeback.

On the other hand, I’ve been doing well with ConocoPhillips (COP) and I think that will continue.  Friday marks a good ‘buy’ signal.

Back next week to see if I’m still wrestling with GOOG!

Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."