The Strong Silent Type

You likely do not hear much on social finance or the financial news media about Emerson Electric Company, a St. Louis-based diversified global manufacturing company. 

But despite year-over-year earnings decline for this quarter, reported this morning, EMR is surging up and out of a tidy daily weekly base, seen below. 

To extrapolate, this is the of weekly chart basing action bulls want to see in a variety of charts which they claim are bottoming, such as biotech, healthcare, even precious metals miners. Note how EMR put in a double-bottom at the end of 2015/2016 and is now threatening to move up and out of a year-long base ever since. Holding over $60 now keeps the bull case very much in play. 

So while many eyes are on DIS GILD TWLO TWTR earnings this week, among others, Emerson is the strong silent type who is showing his resolve after earnings and should be closely monitored for a new, sustained leg higher into the heart of winter.