NASDAQ TESTING 200-DAY AVERAGE

John Murphy
by John Murphy,
Chief Technical Analyst, StockCharts.com

KEY TEST OF OVERHEAD RESISTANCE... The Nasdaq market is testing a key resistance barrier at its 200-day moving average. The test is important because the 200-day line is one of the key indicators in determining whether a market is in a bull or bear market. The first chart shows the Nasdaq Composite Index touching its 200-day line yesterday -- and backing off a bit today. The daily MACD lines are still positive. Chart 2 shows the Nasdaq 100 testing the same 200-day line.

Chart 1

Chart 2

UTILITY LEADERS... Utility stocks continue to show good relative strength. The next three charts show some of the day's strongest utilities. Williams Cos. is breaking out to a four-month high. Edison Intl. is moving up to challenge its 200-day average. Public Service Enterprise is already moving over its 200-day line.

Chart 3

Chart 4

Chart 5

CASINO AND HOTEL LOSERS... Hotel and gambling stocks are being sold today. International Game Technology has fallen under its 50-day line on heavy volume. Among the hotels, Starwood is threatening its November low. Marriott Intl. is falling under its 50-day line.

Chart 6

Chart 7

Chart 8

Members Only
John Murphy
About The Author:

John is a renowned author in the investment field and former technical analyst for CNBC. Considered the father of intermarket technical analysis, his books include “Technical Analysis of the Financial Markets” and “Trading with Intermarket Analysis”. Learn More 

 Previous Article Next Article 

Read More

MEMBERS ONLY

Week Ahead: Nifty Near a Tactical Inflection Point

Week Ahead: Nifty Near a Tactical Inflection Point

Milan Vaishnav
by Milan Vaishnav,
Founder and Technical Analyst, EquityResearch.asia and ChartWizard.ae

After a week of heightened volatility, the Nifty ended the week with gains and a positive broader trend. What will it take to reassert upside momentum -- or a correction?...   READ MORE 

MEMBERS ONLY

Ignore the Headlines. Let the Charts Do the Talking.

Jayanthi Gopalakrishnan
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com

This week’s market action is a reminder of why it’s important to tune out the noise and tune into the charts. Three straight down days are enough to make any investor a little uneasy. Headlines clog up your inbox, opinions pile up, and it feels like something terrible...   READ MORE 

MEMBERS ONLY

AI Infrastructure Is Leading — Not the Headlines!

AI Infrastructure Is Leading — Not the Headlines!

Mary Ellen McGonagle
by Mary Ellen McGonagle,
President, MEM Investment Research

Mary Ellen McGonagle breaks down why AI infrastructure continues to lead even as headline tech stocks struggle with earnings volatility. She highlights where capital is flowing under the surface and why long-term demand themes are holding up against short-term noise....   READ MORE 

Featured Articles

MEMBERS ONLY

Arrows pointing up stuck to chart with one peeling off above others

Dow Theory Confirmed: Technology Holds Critical Support

Tom Bowley
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com

The Dow Jones Industrial Average and Dow Jones Transportation Average notched record closes, indicating that economic conditions are strong. Even the S&P 500 and XLK bounced off key support levels. Does this mean we're out of the woods? Find out here....   READ MORE 

MEMBERS ONLY

Four railroad tracks crossing

Avoiding Confirmation Bias: Four Paths for the S&P 500 Into March

David Keller
by David Keller,
President and Chief Strategist, Sierra Alpha Research

As volatility picks up, the S&P 500 sits in a crucial neutral zone. Dave Keller, CMT, uses probabilistic analysis to outline four possible paths for the index into late March—from a renewed bull run to a deeper correction—helping investors prepare for multiple outcomes....   READ MORE 

MEMBERS ONLY

Arrows going up and down

Bearish Reversal for QQEW, New Highs Surge as Low Vol Leads, Strength in EW Sectors

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Money is moving into stocks with relatively low volatility, most equal-weight sectors are up, and QQEW reversed its long-term uptrend. What does Arthur Hill make of this? Find out here....   READ MORE