Stocks put in another strong performance last week with the Dow Diamonds (DIA) and S&P MidCap SPDR (MDY) gaining over 2%. All sectors were up with the consumer discretionary, technology, finance and industrials sectors gaining over 2%. It is hard to argue with broad strength in the four... READ MORE
Stocks eked out some gains on Thursday to extend the run that started on August 8th. In particular, the Finance SPDR (XLF) led the way with a 1+ percent gain. Banks and brokers were also higher as the Regional Bank SPDR (KRE) advanced over 1%. Gold returned to its roots... READ MORE
The finance sector is showing strength as the annual conference in Jackson Hole gets under way. Fed Chair Janet Yellen will speak tomorrow and this could move Treasury yields and further affect the group. The image below comes from the Sector Carpet and shows the finance sector leading with a... READ MORE
There are six setups today. First, we start with a healthcare stock forming a triangle after an advance. Second, there is a tech stock with a high volume breakout. Third, we have a regional bank reversing just above a support zone. Fourth, there is an internet stock that did not... READ MORE
Stocks were mixed with the S&P 500 SPDR (SPY) edging higher and the Russell 2000 iShares (IWM) closing modestly lower. Relative weakness in small-caps is a small concern for two reasons. First, IWM represents a little less than 8% of total market cap for the US stock market.... READ MORE
The Point & Figure chart below, which is based on 10 points per box, shows the S&P 500 with successive upside breakouts in April, May and June. A key tenet of technical analysis is that broken resistance turns into support. The green support box, therefore, is based on... READ MORE
Stocks opened strong and remained strong on Tuesday. SPY and IWM are up almost four percent over the last eight days. QQQ is up 4.75% and leading the pack. The advance is getting a little extended for the short-term, but overbought is a sign of strength, not weakness. Of... READ MORE
Stocks opened strong and closed strong with small-caps leading the way. Eight of the nine sectors were higher with industrials and finance leading. The utilities sector lost ground. The Home Construction iShares (ITB) and the Retail SPDR (XRT) lifted the consumer discretionary sector. Strength in these two groups would be... READ MORE
There are five setups today. First, we have a mining and oil concern with a correction underway. Second, we have an auto parts maker firming within a key retracement zone. Third, there is a shipping stock with a triangle breakout. Fourth, we feature a solar energy stock with a high... READ MORE
Delta Airlines (DAL) appears to be ending its two month correction with a surge back above the 50-day moving average. Notice how the stock successfully tested the 35 level twice and did not even test the rising 200-day. The recent move above the June trend line and 50-day moving average... READ MORE
If one follows the financial media, it seems as if Ukraine and Iraq are driving the markets these days. While these two regions are certainly a concern, I am not sure how much lasting influence they will have on the overall direction for US stocks. The German DAX Index ($DAX)... READ MORE
Gold broke out with a surge in early August, but stalled the last eight days and failed to follow through. Despite lack of follow through, the breakout is holding and has yet to be proven other wise. Let's see what it would take to prove this bullish signal... READ MORE
Stocks edged higher on Thursday with the major index ETFs scoring modest gains. The HealthCare SPDR (and the Utilities SPDR (XLU) led the sectors, while the Energy SPDR (XLE) lagged with a loss. Another break down in Spot Light Crude ($WTIC) weighed on the energy sector. The consumer discretionary sector... READ MORE
WuXi PharmaTech (WX) is a mid cap stock showing a big gain in its StockCharts Technical Rank (SCTR) on Thursday. Notice that the SCTR surged above 50 and to its highest level since May. On the price chart, the two lows in the 30.5 area form a possible double... READ MORE
Stocks advanced on Wednesday with a fairly broad-based rally. Volume was low, but volume is supposed to be low in mid August so I would not read too much into this indicator right now. In addition, exchange volume has not been that great of an indicator for signs of accumulation... READ MORE
There are five setups today. First, we have a biotech forming a triangle in an uptrend. Second, there is an auto retailer with a bearish wedge. Third, we have a biotech services company with a triangle breakout. Fourth, there is a steel stock showing signs of accumulation. And finally, we... READ MORE
Stocks surge from early Friday to early Monday and then corrected from Monday afternoon to Tuesday. A four day chart reveals a pattern similar to a 1-2 day surge followed by a 1-2 day falling flag. In other words, this week's pullback may just be a mini correction... READ MORE
There are five setups today. First, we have an investment manager with follow through to a big harami. Second, there is an airline making a breakout. Third, we feature a volatile online real estate stock with a bullish consolidation. Fourth, there is a truck part manufacturer with a gap and... READ MORE
Stocks followed up on Friday's gains with a strong open on Monday. There was not much follow through to this strong open, but the gains did hold for the most part. Short-term, I would say the cup is half full (bullish) until proven otherwise. A filling of Monday&... READ MORE
It has been a rough year for Boeing, but the stock may be poised for an oversold bounce. After a big plunge in January, the stock firmed for a few months and then worked its way higher in April-May. BA peaked in early June and fell back to support over... READ MORE
I am going straight to the charts, but here is a summary. QQQ, IWM and SPY remain in downtrends. QQQ and SPY held the late July support breaks. IWM, however, is showing some relative strength over the past weeks and chartists should watch for a breakout. Treasuries continue to move... READ MORE
Chartists can search pre-defined scans to find out if their favorite stock or ETF triggered any scans. The chart below shows Lam Research (LRCX) triggering three bearish scans today. The Elder bar turned red, the stock moved below the lower Bollinger Band and the Commodity Channel Index (CCI) moved below... READ MORE
There are four setups today. We start with a big software stock showing weakness near two key moving averages. Second, there is a consumer services stock with a bullish wedge. Third, we feature a tech stock breaking out with strong volume patterns. And finally, there is a social media stock... READ MORE
Stocks were mixed on Wednesday, but small-caps and micro-caps are starting to show some relative strength. The PerfChart below shows the performance for eight major index ETFs this week. IWM and IWC are up around 1% and leading the pack. MDY is the only other one showing a gain. SPY,... READ MORE
The Gold Miners ETF (GDX) is reacting to strength in gold with a gap and 2+ percent surge. The chart below shows GDX forming a wedge above the 50 and 200 day moving averages. The ETF gapped up within this wedge and StochRSI surged above its July highs for a... READ MORE
There are no real changes in the trends so I just updated the charts. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities** ************************************************************** SPY remains in a short-term downtrend after the support break in the 195-196... READ MORE
The pre-defined technical alerts page is a great place see the positive and negative events of the last few days. The image below shows a green (positive) alert for the Russell 2000 and a red (negative alert for the Materials SPDR (XLB). Prior to today, there were eleven negative alerts... READ MORE
There are four setups today. We start with a volatile networking stock challenging a channel trend line. Next, there is a major airline testing support. Third, we are featuring an apparel retailer showing resilience near support. And finally, there is a semiconductor equipment stock with a bearish pennant. **This chart... READ MORE
Stocks rebounded on Monday with a broad advance that lifted most sectors and industry groups. The Materials SPDR and Energy SPDR led with 1+ percent gains. The Utilities SPDR lagged with a .54% loss. Of note, the Consumer Discretionary SPDR was the third strongest sector with a .97% gain. Strength... READ MORE
Intrepid Potash (IPI) fell to support in July, firmed for a few days and then surged above first resistance with good volume. Support stems from the March-April lows, and now the July low. The indicator window shows MACD moving above its signal line the last two days. This breakout is... READ MORE
Stocks were hit with broad selling pressure last week. Small-caps were weak, but large-caps joined the party last week as both DIA and SPY broke below their July lows. DIA broke below its June lows as well and gave up its June-July gains in a hurry. The Industrials SPDR and... READ MORE
While the S&P 500 and Nasdaq 100 moved to new highs in late July, their respective AD Lines did not follow suit and formed small bearish divergences. The lower highs in the AD Lines indicate that breadth did not keep up with the underlying indices, which suggests narrowing... READ MORE
Stocks were hit with broad selling pressure on Thursday as the major index ETFs opened weak and remained weak throughout the day. The inability to bounce indicates that buyers remained on the sidelines and did not step in to buy the dip. All sectors were down as were all 105... READ MORE
There is a new feature in town: Relative Rotation Graphs from Julius de Kempenaer. These graphs make it easy to see which sectors are improving, leading, weakening and lagging. Most recently, notice how the Utilities SPDR (XLU) moved from the leading quadrant to the weakening quadrant over the last eight... READ MORE
It was yet another mixed day on Wall Street. As with Tuesday, small-caps and micro-caps were up and showed some relative strength. QQQ and techs were also up, but DIA and the Equal-Weight S&P 500 ETF edged lower. Five of the nine sectors were up with consumer discretionary... READ MORE
It was another mixed day, but the usual performance mix got turned around. Note that the Russell 2000 iShares and Russell MicroCap iShares gained on the day, but the Nasdaq 100 ETF and S&P 500 SPDR lost ground. It is usually the other way around. I would not... READ MORE
I was looking through the list of large-cap stocks with the biggest gains in their StockCharts Technical Rank (SCTR) and found Wynn Resorts with a huge move (+24.8 to 78). Wynn is now in the top 23 percent of large-caps for relative strength based on the SCTR. Looking at... READ MORE
There are four setups today. We start with a major pharma stock making a breakout bid after a bear trap. Second, there is a cosmetics stock with a bearish wedge taking shape. Third, we have an online travel stock with a bullish triangle. And finally, we finish with a teen... READ MORE
Guess what? Stocks were mixed again on Monday. IWM edged lower and SPY edged higher. And I do mean "edged" because the gains and losses were minimal. Six of the nine sectors were higher with the Utilities SPDR leading (up 1.39%). The Home Construction iShares moved sharply... READ MORE
Stocks started the month mixed and remain mixed. Over the past month, QQQ is up 3.70%, SPY is up 1.09% and IWM is down 3.15%. The Technology SPDR is leading with a 4.12% gain over the past month. The Utilities SPDR is lagging with a 2.... READ MORE