- Charts Worth Watching: AEP, BDK, BMY, CNP, DIA, DKS, DUK, ENR, HD, IWM, IWM, JPM, KRE, LLY, LOW, PFE, QQQQ, RX, SO, SPY, TE, WHR, XLU, XLV, XLY - Click here for today's video - The next update will be Tuesday (June 16) by 9AM ET. ***************************************************************** The major index ETFs... READ MORE
June has been one choppy month, but the Nasdaq 100 ETF (QQQQ) continues to work its way higher within a rising channel. This channel features a series of higher highs and higher lows that define the 9 day uptrend.... READ MORE
The percentage of Nasdaq stocks that are trading above their 200-day moving average reached its highest level since early 2006. As the chart below shows, fewer than 10% of Nasdaq stocks were trading above their 200-day moving average in March. With the March-June rally, 60.46% of... READ MORE
As the price relative below shows, the S&P 500 Growth ETF (IVW) is outperforming the S&P 500 Value ETF (IVE). The price relative is simply a plot of the IVW:IVE ratio (enter IVW:IVE for the symbol). The ratio increases when IVW (numerator) rises more... READ MORE
- Charts Worth Watching: $INDU, ACN, ATHR, BDK, DHI, JPM, KRE, PKI, QQQQ, RJF, TGT, USB, XHB - Link to today's video. - The next update will be Friday (June 12) by 9AM ET. ***************************************************************** As evidenced by yesterday's last hour surge, trading remains quite tricky right now. The first... READ MORE
Even though the major stock indices were trading sharply lower on Monday afternoon, a few of the homebuilders showed nice gains. The gainers are easy to spot using the S&P Sector Carpet. As the blue arrows show, Lennar (LEN) was the second biggest gainer and DR Horton (DHI)... READ MORE
Even thought the Dow Diamonds (DIA) is overbought medium-term, the recent breakout is short-term bullish and this breakout is holding. On the daily chart, DIA broke above flag resistance with a surge on Monday. This move pushed CCI above 100 to turn momentum overbought. Even so, I would... READ MORE
As its name implies, an inverse head-and-shoulders is an upside down version of the normal head-and-shoulders. Ixia (XXIA) has a one such pattern with a neckline breakout this week. Notice that upside volume started increasing as the right shoulder unfolded.... READ MORE
- Charts Worth Watching: AET, CAT, DE, DIA, EMC, IMKTA, IR, IWM, JPM, LLY, OCR, QQQQ, SNPS, SPY, TTWO, TXT, WFC, XLF, XLI - Link to today's video (click here). -The next update will be Tuesday (June 9) by 9AM ET. ***************************************************************** Even though the major index ETFs are still overbought... READ MORE
Investors are showing a clear preference for corporate bonds over treasury bonds. The chart below shows the 10-Year US Treasury Note ($UST) and the DJ Corporate Bond Index ($DJCBP) going their separate ways since March. $UST is down around 7% since mid March, but $DJCBP is up around 9%... READ MORE
Barclays Plc (BCS) came across the island top scan from Tuesday's close. Notice how the stock gapped up, held the gap for one day with a doji and then gapped down with high volume on Tuesday. The doji represents an island where buyers are now trapped with a... READ MORE
Even though stocks have been rising since early March, the cumulative Net New Highs indicator has been flat since early March. This shows a virtual stalemate between new 52-week highs and new 52-week lows. Obviously, the market can rally with a stalemate. Trouble could start if this indicator... READ MORE
- Charts Worth Watching:aa, aci, atmi, csco, DIA, fic, intc, IWM, jpm, ma, plcm, pmtc, QQQQ, shlm, smh, SPY, v, xlb, xlf - Link to today's video (click here). - The next update will be Friday (June 5) around 9 AM ET. ***************************************************************** After pointing out bullish consolidations in the major... READ MORE
The Amex Airline Index ($XAL) surged around 5% with a big move off support on Monday. Notice how broken resistance around 16 turned into support in late April and again in May. Today's bounce reinforces support and makes XAL one of the industry group leaders on Monday.... READ MORE
The Euro ETF (FXE) has been red hot with a move from around 125 in early March to 141 in late May. Interestingly, the rise in the Euro coincides with a rise in stock over this same period. FXE is fast approaching a resistance zone around 142.5-145. This... READ MORE
With a huge rally from early March to late May, the S&P 500 ETF (SPY) is trading just above its 40-week moving average and a key momentum oscillator is overbought. The 40-week moving average is the weekly equivalent to the 200-day moving average (40 weeks... READ MORE
Charts Worth Watching: amat, amln, apa, genz, hal, IWM, lltc, nvls, oih, QQQQ, slb, smh, SPY I am on the road and today's commentary is abbreviated. There is no video. Normal commentary and video will resume next Tuesday. The next update will be Tuesday (June 2nd) by 9AM... READ MORE
While the US Oil Fund ETF (USO) bottomed in February, the US Natural Gas Fund ETF (UNG) continued lower and recorded a new low in late April. There was a big surge in early May and then a deep pullback the last two weeks. Notice that this pullback ended abruptly... READ MORE
While the western stock markets have clawed their way back towards positive territory the last few months, the Hang Seng ($HIS) turned year-to-date positive in early April and now sports a 24.31% gain. Among the six world indices shown, the Nikkei 225 is a distant second with... READ MORE
The Nasdaq extended its battle with the 200-day moving average by jumping back above with a big advance on Tuesday. With this latest move, the index has now crossed the 200-day at least five times this month. Notice that today's surge occurred on the second lowest... READ MORE
Charts Worth Watching: SPY, DIA, IWM, XLB, XRT AND IYT. Another update will be posted by 12PM ETon Tuesday (26-May). This will include the stock setups and the video. ***************************************************************** The major index ETFs are showing signs of weakness as a potential correction unfolds. These ETFs include the Dow Diamonds... READ MORE
Charts: BA, DELL, HD, HON, INTC, K , KFT, LMT, LOW The next update will be Friday (May 29) by 9AM ET. Link to corresponding video. ***************************************************************** Weakness in Home Depot (HD) is negative overall. HD was hit hard with two sharp declines in May. The one-day wonder surge above 26... READ MORE
- Charts Worth Watching:acv, amgn, amln , asei, bro, cah, cb, eric, hon, idcc, nke, swy, trv, vrtx - Link to corresponding video. The next update will be Tuesday (May 26) by 11AM ET. **************************************************************** I will start off today with two potentially bullish setups from the consumer staples sector. This sector is... READ MORE
With the March-May advance, QQQQ has now retraced 38.2% of the May-November decline. Where does this number come from? It based on the Golden Ratio Congugate (.618). 1 - .618 = .382 or 38.2%. After a decline, like May to November, the Fibonacci Retracements Tool can be used... READ MORE
The AD Volume Line for the Nasdaq broke its March trendline and formed a lower high in May. This indicator is a cumulative measure for the volume of advancing stocks less the volume of declining stocks. Notice that recent peaks and troughs in the Nasdaq coicided with peaks and troughs... READ MORE
Wal-Mart is tracing out a continuation head-and-shoulders pattern with neckline support around 47.5-48. It is a bit unusual because the neckline is sloping up, which reflects higher lows since early February. A break below support would confirm the pattern and signal a continuation lower. Conversely,... READ MORE
After a decline below 30, Sunoco (SUN) suddenl firmed with a high volume harami on Monday (18-May). These are potentially bullish candlestick reversal patterns that require confirmation with further upside. Look for volume to confirm any breakout.... READ MORE
Charts Worth Watching: ANF, AZO, CAL, CB, INTC, ITB, LUV, PGR, QQQQ, SMH, SWY, SYY, XLB, XLF The next update will be Friday (May 22) around 9AM ET. ***************************************************************** The moment of truth is close. Based on positive reports from State Street (STT) and Lowe's (LOW), stocks moved sharply... READ MORE
After a massive 9 week advance, the Dow ran into resistance with its biggest weekly decline since early March. There is a resistance zone coming into play around 8700-8800 from the falling 40-week moving average and the Oct-Nov consolidation. After establishing support in Oct-Nov, this triangle... READ MORE
Broken support turns into resistance. This classic tenet of technical analysis is coming into play for the 10-Year Treasury Yield ($TNX). Notice that the 10-Year Treasury Yield broke support around 33-34 (3.3-3.4%) and this area turned into resistance in early May.... READ MORE
Tidewater (TDW) formed a massive bearish engulfing that engulfed the prior five candlesticks. Volume surged to its highest level since January. What's more, this is the second bearish engulfing pattern in two weeks. These patterns reflect a raging battle at resistance from the January-February highs.... READ MORE
Today's Charts Include: AMZN, ANF, ARO, CEPH, CHRW, COV, CPRT, FDX, GILD, INTC, IYT, JBHT, JWN, RL, UPS, XRT. The next update will be Tuesday (May 19th) around 9AM ET. ***************************************************************** The consumer discretionary sector and the retail group were hit hard over the last three days. Actually, the... READ MORE
Best Buy (BBY) broke support and the 50-day moving average with a sharp decline over the last six days. Notice how the Aroon Oscillator turned negative just before this support break. In fact, this Aroon signal would have shown up on the Aroon scan last Thursday.... READ MORE
After a most impressive rally, the Dow Transports stopped just short of its 200-day simple moving average with a sharp decline the last four days. Also notice that this key average is trading below its prior reaction high (early January). Watch the rising 50-day moving average for potential... READ MORE
Today's charts include: SPY, ANF, BIIB, CHH, CL, FLML, GLD, IBB, ITB, LEN, MDC, NIKE, QQQQ, SEPR, SVU, VRTX, WMT, XLP, XLY. The next update will be Thursday (May 14th) morning around 9AM ET. ***************************************************************** Let's start with the broad market. Even though the S&P... READ MORE
With flat trading since late March, a volatility contraction for AT&T (T) is causing the Bollinger Bands to narrow. Bollinger Bands do not provide a directional bias, but last week's high volume decline shows selling pressure picking up steam.... READ MORE
The S&P Sector Carpet shows a color-coded version of the leading and lagging sectors. Dark green sectors are leading with financial and energy showing the biggest gains on Friday. The technology was conspicuously absent from the leadership board on Friday. In fact, technology was the worst performing... READ MORE
Charts Worth Watching: ANF, BIIB, CHH, CL, FLML, GLD, IBB, ITB, LEN, MDC, NIKE, QQQQ, SEPR, SPY, SVU, VRTX, WMT, XLP, XLY. Scheduling Note: The next posting will be on Tuesday, May 12 around 9AM ET. ***************************************************************** The Nasdaq declined with the highest volume of the year on Thursday. While a... READ MORE
Looking through the scans page, I noticed that Game stop broke below its lower Bollinger Band with a high volume decline. Moreover, the stock is showing relative weakness as the price relative broke below its March lows. GME is moving down while the S&P 500 has been moving... READ MORE
With 14-day RSI moving above 70 this week, the Nasdaq 100 ETF (QQQQ) became the first major-index ETF with an overbought reading. RSI is considered overbought when above 70 and oversold when below 30. For the Russell 2000 ETF (IWM), S&P 500 ETF (SPY) and Dow... READ MORE