GE - clearing resistance, at least for today

Whilst the broader market saw a day of moderate churn to start the week, there was notable strength in General Electric (GE), which settled +1.2% @ $ 31.34, making for a decisive close above the late Dec' 2015 high. As ever, the monthly close will be important.


GE, daily

GE, monthly

Summary

Suffice to add, GE really stood out today.

Unquestionably, a great deal of the price rise can be attributed to the monstrous stock buy back of $50bn that is well underway.

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GE is one to watch, and equity bears should be seeking an April /May close back under $28 to confirm that the broader equity market is still set for powerful downside this summer/autumn.