Stocks meandered in slow trading on Monday. The Nasdaq 100 ETF (QQQ) edged lower and the S&P 500 ETF (SPY) edged higher. The sectors were mixed with fractional gains and losses. The Retail SPDR (XRT) stood out with a 1% surge that neared its prior highs, while the... READ MORE
BRCM Firms at 50-62% Retracement. DF Forms Bull Flag after Surge. Plus DHI, FNSR, TSO Video is at top. Individual charts are below. Click here for iPad/iPhone Version **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or... READ MORE
Spot Copper ($COPPER) has gone nowhere the last three months and a narrowing consolidation is taking shape. The pink lines show the Bollinger Bands narrowing as volatility contracts. This is confirmed by the bandwidth indicator, which is trading near seven month lows. Traders should watch range for a break to... READ MORE
The bulls went on a run after non-farm payrolls beat expectations and prior months were revised higher. Strength in employment put tapering back on the agenda and weighed on bonds. Taper-talk also weighed on gold as the Dollar surged and held last week's breakout. Despite Friday&... READ MORE
There are bearish engulfing patterns and then there are BEARISH ENGULFING PATTERNS. With a strong open and weak close on Thursday, the Dow SPDR (DIA) formed the latter. This is the second bearish candlestick pattern in two weeks. A follow through break below the early November low would confirm this... READ MORE
This article can be found in the Mailbag blog (click here).... READ MORE
The bulk of the evidence remains bullish, but this uptrend is getting long in tooth and the market is ripe for a correction. Note that the majority of technical indicators have been positive for a year now, which is the longest stretch since I began this table. Even though the... READ MORE
Things that make you go hmm.... Stocks declined and a few media reports blamed a better-than-expected GDP report. Also note that October same-store retail sales were up 4%, which ain't bad considering all that shutdown stuff. The reasoning suggested that strength in the economy would... READ MORE
There is not much historical data for Twitter (TWTR) because it opened for trading just today. However, there are already signs of support near the opening price. The 1-min chart shows TWTR opening at 45.10, surging to 50 and then falling back to the 45 area. Notice how... READ MORE
It was a strange day on Wall Street. The Dow Industrials surged over 100 points, but the Russell 2000 fell .43%. The Consumer Staples SPDR (XLP) and Utilities SPDR (XLU) led the market higher, but the Technology SPDR (XLK) also showed relative strength with a 1.01% gain. Strength in... READ MORE
LNKD Forms Bear Flag at Support. MDR Surges with Huge Volume. Plus MOVE, STX, WIN, YELP Video is at top. Individual charts are below. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities** Click here... READ MORE
Facebook (FB) came across the bullish engulfing scan twice in the last four days. The stock fell to support last week and then formed a big bullish engulfing pattern on high volume. After a pullback on Friday-Monday, the stock opened weak on Tuesday and closed strong to form another... READ MORE
Stocks edged lower on Tuesday with the major index ETFs ending with small losses. The S&P Midcap SPDR (MDY) fell .63% and the S&P 500 ETF (SPY) lost .32%, but the Nasdaq 100 ETF (QQQ) bucked the selling with a fractional gain (+.11%). Eight of the... READ MORE
Carmax is making a move as it bounces off support and breaks wedge resistance. Support in the 46-47 area extends back to the July low. The breakout is valid as long as it holds and I would watch 47.6 for the first signs of failure. The indicator window... READ MORE
Stocks rebounded on Monday with modest gains in the major index ETFs. Small-caps led the recovery as the Russell 2000 ETF (IWM) gained 1.15% on the day. Those looking for a rally excuse can point to the beginning of the month phenomenon because Monday was the second trading... READ MORE
BBBY Consolidates After Big Gap. BOOM Turns Volatile on High Volume. Plus EBAY, GTIV, IGT, IMMR, PMTC, RLGY Video is at top. Individual charts are below. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities*... READ MORE
The Market Carpet shown here focuses on the US industry groups from the Market Summary Market. Chartists can focus on a particular section of a Market Carpet by double clicking a square. Notice that the DJ US Paper-Forest Products Index ($DJUSFR) is the best performer over the last five... READ MORE
Stocks finally took a breather last week as small-caps led the correction. The Nasdaq 100 ETF (QQQ) and S&P 500 ETF (SPY) corrected with trading ranges, while the Russell 2000 ETF (IWM) corrected with a 2.13% decline. The sectors were mixed last week with the Finance... READ MORE
Basic Elliott wave teaches us that there are two types of price movements: impulse and corrective. Similarly, Dow Theory teaches us that there are primary price movements and secondary price movements. Impulse and primary moves are in the direction of the bigger trend. Corrective and secondary price moves run counter... READ MORE
This PerfChart shows ten ETFs that cover the intermarket picture. Notice that nine of the ten moved higher with stocks and gold leading the way. Oil was hit the hardest with a 5+ percent loss. In a surprise, the Dollar and the Euro both gained. Dollar strength can be attributed... READ MORE
The indicator summary remains firmly positive, but stocks stumbled this week with small-caps and financials weighing on the market. After big runs the last three weeks, the major index ETFs are again short-term overbought. However, these runs produced new highs to affirm the overall uptrends. Also note that... READ MORE
Stocks were mostly weak on Thursday, but selling pressure was modest and there were a few pockets of strength. The Russell 2000 ETF (IWM) led the way lower with a .58% decline. The Nasdaq 100 Equal-Weight ETF (QQEW) managed a .03% gain on the day. Seven of the nine... READ MORE
LinkedIn (LNKD) was hit with a high volume decline on Wednesday, but managed to firm near a support zone on Thursday. Support stems from the mid August and early October lows. The indicator window shows the Aroon indicators converging below 30. This convergence suggests little directional movement over the last... READ MORE
Big banks show relative weakness and short-term breakdowns. BAC C JPM. Plus $HOG and $ACN Video is at top. Individual charts are below. Click here for iPad/iPhone Version **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or... READ MORE
Stocks finally took a breather with small-caps leading the way lower. The Russell 2000 ETF (IWM) fell 1.37% and the Russell Microcap ETF (IWC) fell 1.70%. All sectors were down, but the losses were relatively modest. The Consumer Staples SPDR (XLP) led the way lower with a... READ MORE
With a strong open and weak close, dozens of stocks and ETFs made the bearish engulfing scan on Wednesday. These patterns form when the current open is above the prior close and the current close is below the prior open. The result is a black candlestick that engulfs the body... READ MORE
The rally rabbit continued its run as the S&P 500 ETF (SPY) hit a new high. All major index ETFs were up, but the gains were modest and I am starting to see a little relative weakness in the Russell 2000 ETF (IWM) and S&P Midcap... READ MORE
BroadCom (BRCM) gapped down after an earnings miss and opened near 25 last week. The stock hit its low in the first 30 minutes with a spike in volume (6 million). The stock subsequently rallied and ended the day with over 30 million shares. Moreover, the stock continued higher the... READ MORE
Stocks finished mixed on Monday with the Russell 2000 ETF (IWM) falling .05% and the S&P 500 ETF (SPY) rising .16%. The sectors were also mixed with relatively small moves, excluding the Consumer Staples SPDR (XLP), which surged 1.31% and hit a new high. Semis rebounded with... READ MORE
AMTD Forms Flag after Breakout. Aroon Indicators in Parallel Decline for $ATVI. Plus $CPRT $CX $EA $RDC $TTWO $TSN Video is at top. Individual charts are below. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said... READ MORE
The Consumer Staples SPDR (XLP) surged above its May-September highs and recorded a 52-week high with a big move over the last three weeks. A look at the Sector Market Carpet shows Hershey (HSY), Avon (AVP) and Coca-Cola (KO) leading with 2+ percent gains on Monday. HSY... READ MORE
Oracle (ORCL) held its own from July to September, but weakened in October and showed relative weakness. The indicator window shows the price relative turning down and breaking below the August-September lows. On the price chart, ORCL fell to 32 and then formed a rising wedge the last few... READ MORE
Stocks simply continue to march higher. Buying pressure may be waning, but it is still outpacing selling pressure. The Nasdaq and NYSE AD Lines and AD Volume Lines hit new highs. Net New Highs surged in October and four of the five major index ETFs recorded 52-week highs this... READ MORE
The major index ETFs edged higher with modest gains. Selling pressure hit some areas of the market, but there were some pockets of serious strength that lifted the stocks. In particular, the Home Construction iShares (ITB) continued its rise with a 2.84% advance on the day. Strength in housing... READ MORE
The Gold Miners ETF (GDX) got a nice bounce the last seven days with a break above the late August trend line. Even though the big trend remains down, the short-term trend is now up with this small breakout. Longer-term, a potential double bottom is taking shape with... READ MORE
After hitting new highs for the move early Tuesday, stocks weakened over the last two days with the Technology SPDR (XLK) and Energy SPDR (XLE) leading the way lower. Over the last three days, the S&P 500 ETF (SPY) formed a reversal with a gap up, consolidation and... READ MORE
ADSK Hits Support Zone after Pullback. CZR Retraces 62% with a Wedge. Plus SRPT, USG, WDAY Video is at top. Individual charts are below. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities** Click here... READ MORE
Stocks extended their rally with another broad based advance. The S&P 500 ETF (SPY) and the S&P Equal Weight ETF (RSP) both gained around .70% on the day. Eight of nine sectors were up with the Materials SPDR (XLB), Consumer Staples SPDR (XLP) and Utilities SPDR... READ MORE
Alcoa moved below 9 in mid 2012 and proceeded to form a long base over the last 15 months. This base gave way to a reversal with a surge above 9 and a 52-week high (intraday). Also notice that the surge started with strong volume. This week's... READ MORE
COH Firms within Falling Flag. DOX Breaks out on Good Volume. Plus GTIV, LMT and RTN Video is at top. Individual charts are below. **This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities** Click here... READ MORE