so rsi moving with stock prices. second, the mac d made a bullish cross over in april where the black line crosses above the red one. and since tht has gotten more and more positive lang believes that del taco could have more upside while the stock is approaching the ceiling of resistance, lang believes it can make a run at that level and then push higher. well, it would be great. as he sees it, the path of least resistance takes del taco to just under 14 bucks and that is roughly 13% from these levels. i think that is a do i like that call particularly because i like the mac d and the rsi is in perfect shape. finally there is el pollo loco this is a mexican chain that we have had on the show a couple of times. lang likes what he sees on loco's long-term weekly chart.s chart now. again, had a rough time earlier this year and seemed to have bottomed in recent months before making a medium turn higher. made a run at its 50-week average where it met a resistance and then the rally stalled. lang things this could be a wi

say a woman was tryinging to 9 monfrom now.nd she shows up >> it was -- ialngssia rsi bota isn'tnly onehat he shared 17 tweets and he too apparently wanted free whoers. the journal found more than asa thou and russia troll accounts are stillhere. >> we have a problem with canadians smulinging shoes over bheoard you dlael probably swim we'd next prime minister jtin drew d says legalizing marijuana helps keep it on hands of kids and keeps criminals from profiting. andext who is tossing profiting. andext who is tossing turning after the break. reak. >> sound asleep tonight a guy betterbably know played by woody harlson in the movie game change. steve summit was t manager and since been a talking head on cable.ai d he was levering the gop. he worked on successful efforts behalf of bush 43 with and we say steve schmidt is sound asleep. >> beater fond awhen they talk about hollywood liberalsof touch and in this case out of their dam mind. ere was a letter with handling of the border crisis and one was forcefully being taken from his mother. it's internet. nothing goes away. damage done and by e

>> steve knows this and i'm not suggesting, but if the stock flat lines the next couple of weeks, rsis come back to normal levels, the stock could go from there. >> and to counter your kourncou, all stocks react differently with a relative rsi. this one, chesapeake in question, actually responds pretty dramatic to an overbought and an oversold. thank you. >> you know what that is quickly? that's a trade school. can we throw that graphic up >> nice job. >> marathon oil, trade it or fade it? >> i'm going to be consistent here and go with fade it because it's still in the energy complex. the reason why energy moved today was opec that was the overarching macro news of the day. everyone was expecting a million new barrels per day to enter production we got something like 600,000. the big difference was that was bullish or seen as bullish for the entire market. i think it's a sell. i think energy is a sell. >> fades once again. what do you do >> i trade it because you've got a great setup. $22, looks like it would break out. you don't need to buy it ahead of that, wait for the breakout see

we have the rsi indicator on the bottom, 14 period rsi and that actually is -- and, to a local you know cap tech is obviously working. ist's interesting here this is the s&p 500 tech index so it does not include amazon and it's still strong, and i think that trend is likely to continue. >> what would concern you? iswhat would concern me if this was a false breakout. if the market reacted to the andition in the rsi sometime in the next day or two we snap back below this breakout level. the door foren a move down, at least to the 50 day moving average. >> so tech is up 14% on the year, pretty amazing because again, earlier around those big tech concerns, tech had been slightly lower on the year, but the consumer staples consistently down on the year, 13% on the year. take us through this weekly chart. >> it goes back five years, the consumer staples and you solide, you know, a uptrend until the beginning of this year, it's kind of since and,g ever you know, took out up the trend line. i think that opens the door move down to the 2015 lows here, around 460, 470 the index. and i think that

s subtrocpialpical alberto deja t fuertes daÑos en su paso, en c r caroc carolina del norte varios rsin dejar su o hogares ubicaodos en una zona c cercana a una represa por des r desborde >> y hemos visto cambio en las temperaturas en varias ciudades, aye descenso en las temperaturas y palo alto un poco mas calido, a hablamos de estos cambios que r iremos experimentando asi esta l la situacioituacion san jose n (informacion en pantalla >> la historia esta tarde seran nuevamente estas fuertes rafagas de viento en san francisco 24 p millas por hora tambien intens d intensidad en aucland, que lea u conducir tambien se nota porque se siente que el carro se mueve, necesitara sujetar el manubrio con fuerza, para el vieernes t nono te la diferneencia el viento e e empieza a calmarse y llega el a calor, >> san jose todo despejados en este mometonnto en san francisc ausencia de neblina a esta hora de la tarde, el termometro a las 7 de la noche 60 grados luego desciende, nubosidad para horas de la noche tenemos cambios, por alta presion que incrementara a las temperaturas el fin de semana asi qu

just wanted to talk about em fx, emergency rsi for the -- emerging market currency at the oversold thresholdon friday. it stay there because of trade concerns. to be is no reason optimistic about a rebound, saying one red flag in changing the em selloff is shorter price action would be scratched. when we has similar signals back in the third week of may, recommended positioning for reversal in the emf effect selloff and the preference now is for the long dollar opportunity. em currencies are down 5% since closing at a record high. that was on april 3. how things have changed in the last couple of months. vonnie: a quick look at some assets in the u.s.. stocks are extra ordinarily interesting. look at currencies, canadian dollar is weaker for a fifth session in a row. 133.01. crude oil is higher. it looks like we may not get a decision out of opec that is satisfactory to the oil market. i wanted to mention the 710 spread, below for braces points. -- four basis points. that may be makes it more of -- obvious. soybean futures down 1%. soybeans are a indicator that what may be ahead for trade. u

met at trump forward with rsis proming dirt on the president dictated, it says. july, his attorney said -- >> that wasn't written by the president. he also said -- >> the president didn't sign off on anything. >> just for good measure, he added -- >> the president was not among. >> so dictating without being involved is quite a traeuflt. just in case you think there is wiggle room there, sarah sanders said -- >> he certainly didn't dictate. >> but, wait. his lawyers said the president dictated. >> he certainly didn't dictate. >> the president dictated. >> he certainly didn't dictate. >> certainly he did, so say his lawyers. there is a lot of different about a lie or falsehood or untruth. here someone is lying. either the president lied to jay sec low and area sarah sanders or they lied to us. it is not a crime to lie to the american press or the american people. but it is a crime to lie under oath. the statement that the president dictateed wildly misleading in itself saying the trump tower meeting was largely about adoption when the reason it was set up in the f

when wle ago at rsi indicator.omentum data at the bottom of the chart, it is pretty oversold and we've seen similar inflection points off those levels so is it setup is there. but what we need to see is the token actually break out and move the interday chart that is four hour chart back through april and into may and we have this big trend channel in place here. and that 15-day moving average served as a pretty good proxy when that trend reverses and now bitcoin has come right back to this level the two key points on the downside that are important here call it 7350, and that is about 7,000. if bitcoin can't hold those levels i think we see the longer term picture turn negative i think the number here is going to hold. i think bitcoin rallies through the 7800 level and i think it moves to the upside. >> should we invite rob over to the desk >> u.just on the arrows he drew >> good to see you, pal. >> to it is mel's call don't ask. >> yes, it is. i'm just doing it out of courtesy. >> very nice woman. >> okay. so rob

came into january at an rsi of like 80-something, which is as close to an extreme overbought reading as you'll see. anything above 70 tells you it's too hot, like touching a hot stove. the stock has pulled back in late january with all the other stocks and then it's been in this really neat consolidation channel. not making new highs but not making new lows. consistently in this channel now, it's giving indications it's going to break out above that top end of the range. if the stock takes out 86, no reason why it couldn't go to $100, and i will tell you that this is supported by sector-wide action look at square, chart is bananas. >> doc, was it yesterday we talked about activity, call buying in scare? >> you bet yesterday it was and i'm happy to be long both of these, judge >> you're long both. >> are you pleasantly long >> yes >> both through options. >> and paypal has hit multiple times this year. i counted them up, i think we have 14 different times, 14 different days where the buying was so extreme that, of course, it triggered us to stay with the position and/or roll up. i'm w

what that chart shows and what i like to point out is the rsi above 70.l as a whole, the move has been just as intense as the post 2016 election move when there was this first america first trade and we are getting that again because of trade wars. the share of components at 52 week highs or overbought is much less than that, half of that in much case. in one way you could say that means there is more room to run and in another wou look at what is driving it and a lot of it is health care, a lot of different health care sectors from biotech to health care services to equipment. when you look at this, you think maybe this is a defensive play and maybe this is a play on the safe u.s. population and a place to be in the time of turmoil and trade wars. on the other hand, this is a huge m&a play. a lot of them are getting it up. p. getting bid u ar me, what would cause maybe rotation away would be you start to get yields up and maybe opec does something and we see a return to financials and oils rather than small-cap. alix: oil, the one i have been hearing abo

they are below the 30 level for rsi.this typically means is that it's oversold and now is the time to buy or get back into the market. these have happened before earlier in the year and several of these markets have fallen into oversold territory and up rallying quite a bit after. it could be a good week for asian stocks. rishaad: it's really been a year thus far that we've seen global markets generally flat in the year to date. and asia, certainly many of them are down. what happens next? >> i think it's a lot of wait and see. i think what people are waiting for is what is going to come out of the trade war's going on between the u.s. and china. said,ur guest earlier it's two weeks away. july 6 is what we are going to be watching out for. anythinggoing to be new coming out of the u.s. or china solidifying the trade war's or backing away from? i think that's really key for what investors are looking out for. rishaad: thank you very much indeed. have.s what we this is what the hang seng looks like come up for a much flat.

more than just rsi the mimu to buy a gun or banning the sale of bump stocks which make a semiautomatic assault rifle into an automatic, a true military weapon. at some point congress has got to start standing up for the people it represents. it's got to turn a deaf ear to the special interest that locked down their votes here because they want to sell more guns. at some point congress stand the n.r.a. which represents the gun manufacturers, not the shooters, not the hunters. it represents the gun manufacturers to sell more guns. i say this as a fellow who grew up on a ranch having guns all my life, having hunted all my life. i still hunt with my son. but an sexual assault -- but an assault rifle like an ar-15 is not for hunting. it's for killing. and we've got to face the fact of banning the sale of the military assault rifle types and the long clips of some 30 rounds of ammunition. the attack at pulse nightclub two years ago was an attack of both terror and hate. and it was an attack on our fundamental american values of dignity and equality. it was an attack designed to divide us as

amazon is extended above its 50 and 200-day moving average you can see on the rsi at the bottom and youck with it fundamentally from piper, we're look at 1850 as a price objective on the stock right now. so, another 6% from here still seems reasonable >> all right two bulls, thanks, guys. >>> want more market insights head to our website tradingnation.cnbc.com >>> auto nation usually comes at the expense of workers but one company has figured out how to balance the two. ceo of boxed is next on "power lunch. >>> the latest from trading nation and a word from our sponsor. >> daily price fluctuations can offer trading opportunities, however, if you're unhappy with your returns while trading actively, consider taking smaller positions over a greater investment time frame. evaluating trends over multiple weeks rather than hours can help trader locate more consistently tradeable trends while possibly trading less frequently what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the

i think that's a concern when ever you see rsi or the strengthen -- the stock on four of those have beenand 50% or more of the three or four more years to come >> wish to trade at 311. >> we got to leave it there. we got the target. thank you very much, mark and mike you can head to our website on tradingnation.com. >> now the latest from "trading nation" and a word from our sponsor. in rising low volatility markets and short term buy backs represent great buying opportunities. one approach is waiting for the second update after pull back before putting money back in the market ahh. where are mom and dad? 'saved money on motorcycle insurance with geico! goin' up the country. love mom and dad' i'm takin' a nap. dude, you just woke up! ♪ ♪ i'm goin' up the country, baby don't you wanna go? ♪ ♪ i'm goin' up the country, baby don't you wanna go? ♪ geico motorcycle, great rates for great rides. . >>> a lot of big players are not playing in the usga opening. jordan spieth is 9 over and bubba watson is over dustin johnson has a three shot league over the weekend. we are wondering if fox is goin