The volume-by-price bars for Bank of America were the longest between 11 and 13. Even though the red and green portions were relatively equal, it is clear that many positions were established in this range. Remember, there is a buyer for every seller. With so much volume, the 11-13 area... READ MORE
The chart below shows DIA with a 20-day SMA and an envelope set 4% above/below the 20-day SMA. Notice how the January plunge below the lower envelope triggered an extended decline. Conversely, the March surge above the upper envelope kicked off the current rally. Not all signals are this... READ MORE
The Bullish Percent Indices measure the percentage of stocks on a Point&Figure buy signal for a given index. In general, an index has a bullish bias when its Bullish Percent is above 50% and a bearish bias when below 50%. Stockcharts.com users can easily keep an eye... READ MORE
Gamestop (GME) came across the Bollinger Band screen with a move above the upper band on Thursday. Such moves show underlying strength. Notice how GME plunged below the lower band in early May and then worked its way lower until July with the 20-day SMA acting as a short-term bearish... READ MORE
-Bulls Still Dominate -A Close-Only View of QQQQ -SPY Stalls around 100 -Short-term Momentum Deteriorates -Breadth Remains Bullish Overall -VIX Shows Short-term Abnormality -Dollar Reinforces Resistance -Gold Holds Support and Dollar Falls -Bonds Bounce off Support After Fed -Stocks: LMT, PFCB, RIMM -Click here for today's video. -Vacation... READ MORE
There are three distinct periods over the last two days. First, stocks surged as the Nasdaq 100 advanced above 1620 before the Fed meeting. Second, stocks gyrated rather wildly as NDX moved above and below 1620 after the announcement. Third, stocks consolidated as the market digested the Fed statement. Watch... READ MORE
The PerfChart below shows the key commodity related ETFs and the S&P 500 since early March. As the stock market surged, the US Oil Fund ETF (USO) and the Base Metals ETF (DBB) were the only two commodity ETFs able to keep pace. The Natural Gas ETF (UNG)... READ MORE
After surging to the June high, the Steel Vectors (SLX) met resistance and pulled back over the last two days. Notice that the August 3rd gap did not hold and the price relative formed a lower high. SLX is starting to show relative weakness. Users can click on this chart... READ MORE
-A Trend in Motion Stays in Motion -High/Low Range Narrows for SPY -QQQQ Volatility Contracts Further -Short-term Uptrends Remain In Place -XLY Forms Inside Day -OIH Forges Island Reversal -IGN Stalls at Resistance -SMH Declines Five Days Straight -Stocks Covered: AAPL, ARO, AVY, CHRW, DYN -Click here for today&... READ MORE
The S&P 500 Bullish Percent Index stands at 80%, its highest level since February 2007. Above 70% is generally regarded as overbought because this indicator spends most of its time fluctuating between 30% and 70%. However, 80% testifies to underlying strength within the index and this indicator favors... READ MORE
Sunoco (SUN) broke support around 26 with a sharp decline in June. After reversing course in early July, the stock surged back to broken support, which now turns into resistance. Notice how the stock pulled back with high volume on Thursday. This is a big resistance test. Users can click... READ MORE
-QQQQ Extends Volatility Contraction -SPY Hits Broadening Resistance -Short-term Momentum Turns Bearish -AAII Bulls Hit 50% -Breadth Remains Bullish Overall -Nasdaq Lags NY Composite -Finance Sector Pushes Small-caps Higher -VIX and VXN Diverge -Intermarket Correlations -Link to today's video -Next update will be Tuesday (August 11) by 7AM... READ MORE
The DJ US Aluminum Index ($DJUSAL) traced out a massive inverse head-and-shoulders over the last nine months and broke above neckline resistance this week. With this pattern representing a large base, the breakout is bullish and targets further strength towards 140. Careful though, the index is already up over 40%... READ MORE
From the NYSE most active list on the stockcharts.com home page, we can see that banks take up half the list (5 of 10). Although not a bank, GE has a large financial services arm and was third on the list. Also notice that all six of these finance... READ MORE
-Market Overview -Stock Setups: AMZN, AZO, BA, DRI, ERTS, HAS, POT, RIMM -Link to today's video. -Next update will be Friday (August 7) by 7AM ET. ***************************************************************** Market Overview Stocks rallied on Monday with a fairly broad-based move. The major indices gained 1.5% on average and all sectors... READ MORE
Despite rising oil prices, the Dow Transports surged on Monday with a move above 3600. This key average is now within spitting distance of its January high. Also of note, the Dow Industrials broke above its January high last month.... READ MORE
The McClellan Oscillators moved from bearish to bullish with the July surge in stocks. Basically, the McClellan Oscillator is the 19-day EMA of Net Advances less the 39-day EMA of Net Advances (advances less declines). As the difference of two moving averages, this indicator oscillates above/below the zero line... READ MORE
The market summary page provides an excellent overview of market performance, both end-of-day and intraday. You can change the setting at the top. Notice that materials led the market on Thursday, while healthcare, consumer staples and technology lagged. It is only one day, but relative weakness in technology should be... READ MORE
- Charts Worth Watching: BIIB, DHR, ERTS, GPS, HAS, JBHT, KEY, LMT, LUB, MDT - Link to today's video. - Next update will be Tuesday (August 4) by 7AM ET. ***************************************************************** After retracing 50% of its prior decline, Biogen Idec (BIIB) broke wedge support with a sharp decline over... READ MORE
- Medium-term Outlook Remains Bullish - Short-term Situation is Overbought - Late Selling Pressure - Mind the Gap - 60-minute Momentum - Breadth Overview - AAII Survey Flips - A look at Bonds and the Dollar -Link to today's video. - Next update will be Tuesday (August 4)... READ MORE
After a breakout and surge from March to May, the British Pound ETF (FXB) consolidated with an ascending triangle over the last two months. Notice how FXB hit resistance at 165 a number of times since early June. Also notice that the early July reaction low is higher than the... READ MORE
In less than 9 months, the Nasdaq has gone from being 40% below its 200-day EMA to being 10% above its 200-day EMA. Talk about a huge swing. The percentage difference was determined using the Percentage Price Oscillator (1,200,1). This setting reflects the percentage difference between the 1-day... READ MORE
Freeport McMoran Copper & Gold (FCX) kept pace with the Nasdaq by advancing 13 of the last 14 days. In the process, the stock surged to its June high, which may offer resistance. Also notice that RSI moved above 70 to become overbought. Click this chart to see more details.... READ MORE
- Charts Worth Watching: AKAM, AZO, BA, CHRW, DHR, DRI, ERTS, FCX, KEY, PFCB, UTX - Link to today's video. - Next update will be Friday (July 31) by 7AM ET. ***************************************************************** Akamai Tech (AKAM) hits key retracement with a harami. With a surge back above 21, AKAM retraced... READ MORE
- Stocks remain medium-term bullish - Short-term overbought conditions persist - Dollar firms near June low - Gold stalls at retracement - Oil forms rising wedge - TLT forms narrow range days. - Link to today's video. - Charts Worth Watching will be posted around9:30AM. - Next... READ MORE
With gains over the last few days, the Financials SPDR (XLF) is challenging an important resistance zone on the daily PnF chart. Notice that broken support (2008) around 13 turned into resistance in 2009. XLF is currently on a bullish PnF signal with a price objective around 21. A break... READ MORE
The Dynamic Yield Curve shows two plots over the last eight months. The black line shows the yield curve in December, while the maroon line shows the current yield curve. Today's yield curve is much steeper because 3-month rates are virtually unchanged since December, but longer rates have... READ MORE
- Charts Worth Watching: AZO, BBT, FITB, HBAN, NEM, NKE, QLGC, QSII, S , SYK, USB, WAG - Link to today's video. - Next update will be Tuesday (July 28) by 7AM ET. ***************************************************************** Autozone (AZO) broke wedge resistance with a surge in early July and then pulled back to... READ MORE
- Staying Overbought - Earnings Driving the Advance - XLF Breaks Flag Resistance - KRE Surges off July Low - Bonds Falter as Stocks Surge - Link to today's video. - Stock setups video around 9AM ET. - Next update will be Tuesday (July 28) by 7AM ET.... READ MORE
For the first time since January, the Dow Industrials moved above the 9000 level. It took around two months to fall from 9000 to 6500 and then 4-5 months to get back above 9000 (March to July). There is potential resistance in this area, but the trend remains up.... READ MORE
The inter-market relationship since early March remains in place. Stocks and commodities are up sharply over the last two weeks, but bonds and the Dollar are down. This relationship suggests that stock market weakness would lead to weakness in commodities, strength in bonds and strength in the Dollar.... READ MORE
After a long white candlestick on Monday, Research in Motion (RIMM) pulled back immediately on Tuesday with a small decline. Tuesday's trading has been within Monday's range thus far. Should this range hold, an inside day or harami would take shape. A harami is a potentially... READ MORE
- Charts Worth Watching: AET, CAKE, IHF, ITB, IYR, TLT, UNH, XHB - Link to today's video. The next update will be Friday (July 24) by 7AM ET. ***************************************************************** The 20+ Year Treasury ETF (TLT) is trying to firm near the 62% retracement line. TLT surged above 96 with... READ MORE
- Market Overview - QQQQ breaks June high - SPY hits resistance - Stocks short-term overbought - VIX hits new low, - Percent above 200-day hits new high - Net New Highs expand - Small-caps lag large-caps. -Link to today's video. Chart Worth Watching will be posted around... READ MORE
The AD Line for the NYSE remains strong after a break above the June high. In fact, the AD Line is leading the NY Composite because the latter has yet to break its June high. Leadership from the AD Line is positive for the market overall. You see breadth stats... READ MORE
It is hard to argue with the bulls when the vast majority of Nasdaq and NYSE stocks are trading above their 200-day SMAs. Over 66% of Nasdaq stocks are trading above their 200-day moving averages, while over 77% of NYSE stocks are trading above their 200-day moving averages. There are... READ MORE
With a surge back above 8500 this week, the Dow Industrials reclaimed the upper ground on the 50-day and 200-day moving averages. Also notice that the 50-day SMA moved above the 200-day SMA. This is also knows as a golden cross. Even though these are positive developments, keep in mind... READ MORE
- Charts Worth Watching: CAKE, INTU, JCP, LEAP, MCD, PII, PSS, QSII - Link to today's video. - The next update will be Tuesday (July 21) by 7AM ET. ***************************************************************** Cake edges towards resistance. With the market surge over the last four days, I would have expected bigger things... READ MORE
- Market Overview: DIA, IWM, QQQQ, SPY, $VIX, $NAA200R, AAII Sentiment, AD Line and Ad Volume line - Click here for today's video. - The next update will be Tuesday (July 21) by 7AM ET. ***************************************************************** Still Within Trading Ranges Despite this week's surge, I am still... READ MORE
Despite a big surge in the S&P 500 on Wednesday, the S&P 500 Volatility Index ($VIX) recovered from early losses and closed higher on the day. This is unusual because the VIX normally declines during a sharp stock market advance. It is just one day though.... READ MORE