The major index ETFs affirmed their uptrends with new highs this week. In addition, the Consumer Discretionary SPDR (XLY) and the Industrials SPDR (XLI) hit new highs, as did the Nasdaq AD Line and AD Volume Line. There are simply no signs of weakness in the market right now. Breadth... READ MORE
Stocks moved higher on positive economic news, and bonds moved lower. The ISM Manufacturing Index rose to 55.40, which is a two year high. Initial jobless claims fell to 326,000, which is the lowest level since January 2008. Stocks took the news well with the major index ETFs... READ MORE
Stocks surged after Fed day with the S&P MidCap 400 SPDR (MDY) hitting a new high early Thursday. The indicator window shows the price relative (MDY:SPY ratio) hitting a new high as well. Notice that the ETF's Technical Rank (SCTR) has been above 70 the... READ MORE
Stocks were all over the place on Wednesday, but the overall range was relatively small and the day-to-day change was miniscule. Stocks surged immediately after the Fed statement, peaked at 3PM and moved lower the final hour. I am not going to read too much into this late... READ MORE
ATML Forms Continuation Pattern. CHS Show Signs of Accumulation. Plus FST, NVDA and SWKS ***Video edition is at the end*** iPad and iPhone Version This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security... READ MORE
Even though stocks were all over the place on Wednesday, the Dow recorded an all time high and the Nasdaq recorded a four year high. Not shabby at all. StockCharts users can keep abreast of these milestones on the Predefined Technical Alerts page. Click this image for a live chart... READ MORE
Stocks meandered again on Tuesday. Large techs caught a modest bid with the Nasdaq 100 ETF (QQQ) advancing .70% on the day. The remaining moves were non events. The sectors were mixed with the Technology SPDR (XLK), Industrials SPDR (XLI) and Utilities SPDR (XLU) finishing modestly higher. The Basic Materials... READ MORE
The Market Summary (ETF mode) provides a quick overview of performance for groups of ETFs. These include broad market, sector, industry group, international, bond, commodity and currency ETFs. Within the industry group ETFs, the Networking iShares (IGN) is leading with a 1+ percent gain in early trading on Tuesday. Click... READ MORE
Stocks edged lower on Monday with the Russell 2000 ETF (IWM) leading the way (-.70%). Losses were relatively small as selling pressure was contained. Seven of nine sectors were down with the Energy SPDR (XLE) leading the way lower (-.94%). The Basic Materials SPDR (XLB) and the Utilities SPDR (XLU)... READ MORE
ADSK Hits Resistance at Retracement Zone. AMKR Corrects with Small Wedge. Plus FSLR, PBI, R, WTW This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to... READ MORE
StockCharts gives users the power to chart intraday P&F charts with trend lines. In this example, the 60-minute P&F Chart shows Alcoa (AA) breaking the Bullish Support Line in June (red 6) and moving to new lows. The July bounce carried the stock to the... READ MORE
The major index ETFs remain in short-term uptrends, but these uptrends stalled over the last two weeks. While a consolidation after an advance is generally considered a bullish continuation pattern, relative weakness in the Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) is a concern. The PerfChart below shows... READ MORE
It was a rough two weeks for tech stocks as Broadcom (BRCM), AMD (AMD), Microsoft (MSFT) and Seagate (STX) led the way lower with double digit losses. Micrsoft, Google and Ebay weighed on the sector because they have relatively large market caps. Note that this market carpet is set in... READ MORE
Stocks may be overbought after big moves since late July, but we have yet to see signs of material selling pressure. In fact, we have yet to see even modest selling pressure. There are some pockets of weakness as homebuilders and big techs underperform the broader market. Nevertheless, the bulk... READ MORE
The major index ETFs ended the day higher, but gains were mixed with some pockets of weakness in the market. Small-caps led the way as the Russell 2000 ETF (IWM) gained almost 1%. The Dow Industrials SPDR (DIA), however, only gained .01% and the S&P 500 ETF... READ MORE
The 10-year Treasury Yield ($TNX) surged from 1.6% to 2.6% and then consolidated for a few weeks. Yields could be starting another leg up as $TNX bounces off support this week. This is having a negative impact on homebuilders. Notice that the correlation between the 10-year... READ MORE
Stocks were mostly lower on Wednesday with small-caps leading the way. The Russell 2000 ETF (IWM) lost around .83% and the S&P 500 ETF (SPY) lost around .37%. Techs were mixed with the Nasdaq 100 ETF (QQQ) adding .32% and the Nasdaq 100 Equal-Weight ETF (QQEW)... READ MORE
ARO Stalls with Possible H&S Looming. ARUN Hits Key Retracement with Wedge Pattern. Plus CHRW, FAST, X This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We... READ MORE
The Nasdaq 100 ETF (QQQ) got a lift from Apple on Wednesday, but could not hold its early gains as sharp losses in Broadcom (BRCM) and Panera Bread (PNRA) weighed. The chart below shows QQQ gapping down last week and holding this gap the last four days. Notice that the... READ MORE
Stocks meandered again on Tuesday with the Dow Industrials SPDR (DIA) closing slightly higher and the S&P 500 ETF (SPY) edging lower. Large techs were under pressure ahead of Apple earnings as QQQ fell around 3/4 of a percent. Apple moved higher after hours and may provide... READ MORE
The Home Construction iShares (ITB) broke out with a gap in mid July and this breakout is still holding. The ETF pulled back into the gap zone, but never completely filled the gap to negate the breakout. The indicator window shows RSI moving into the 50-60 zone and stalling.... READ MORE
Stocks meandered in quiet trading on Monday. The Dow Industrials SPDR (DIA) lost a fraction, while the S&P 500 ETF (SPY) gained a fraction. SPY and IWM remain in short-term uptrends. QQQ is showing the most vulnerability with a support break last week. This support break is... READ MORE
AAP Consolidates after Breakouts. AMX Stalls at Range Resistance. Plus NIHD, NVDA, VRSN This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves... READ MORE
The Retail SPDR (XRT) surged from late June to mid July and then embarked on a rather narrow consolidation. Notice that the ETF traded between 80.3 and 81.6 since July 11th. The overall trend is up, and this favors an upside breakout or continuation higher. Adding a little... READ MORE
Stocks started the week in strong uptrends and short-term overbought conditions after big gains the prior three weeks. This did not deter buyers as the S&P 500 ETF (SPY) and the Russell 2000 ETF (IWM) broke consolidation resistance levels mid week. The Nasdaq 100 ETF (QQQ) was... READ MORE
The Russell 2000 ($RUT) is leading the market higher with a breakout on July 8th and a series of 52-week highs the last two weeks. This key small-cap index was one of the first of the major indices to break above its May high. Even though the index... READ MORE
The Consumer Discretionary SPDR (XLY) and the Finance SPDR (XLF) were the first two sectors to reach 52-week highs this month. With big moves over the last few days, the Healthcare SPDR (XLV) and the Industrials SPDR (XLI) join the club. Chart-wise, new highs make these four sectors... READ MORE
With big moves over the last three weeks, the indicator summary improved since its last tally (21-June). The AD Volume Lines hit new highs, the Nasdaq AD Line hit a new high and Net New Highs surged. The finance and consumer discretionary sectors are leading the nine sectors. Even... READ MORE
Big tech misses are weighing on the market as stock futures trade modestly lower after hours. Both Google and Microsoft missed on their revenue estimates. Even though the short-term and long-term trends for the market are up, stocks are overbought after big moves the last 3-4 weeks... READ MORE
The Finance SPDR (XLF) surged to a fresh 52-week high with leadership from Morgan Stanley (MS), Bank of America (BAC) and JP Morgan (JPM). The CandleGlance chart below shows these three hitting 52-week highs. It is hard to argue with upside leadership from the second biggest sector in... READ MORE
Earnings season is turning rather mixed with financials showing strong results and techs more mixed. Morgan Stanley is the latest big financial player to report strong results. Intel, on the other hand, reported weak results with its fourth straight quarterly decline in revenues. Google and Microsoft on are on deck... READ MORE
AEO Breaks Down and Shows Relative Weakness. IVZ Forms Pennant after Support Break. Plus BRCM, LULU and MON. Download MP4 This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise)... READ MORE
Patternson Energy (PTEN) has been lagging the market and the energy sector the last few months, but shows signs of life with a high volume surge and pennant. A pennant breakout would signal a continuation higher and target a move to the next resistance zone. Note that this is an... READ MORE
Today is just like a Fed day because Chairman Bernanke begins his two day testimony before Congress. I would not expect any fireworks from his prepared testimony, but we could see markets react if there are any surprises during the question and answer session. Overall, major index ETFs remain in... READ MORE
The animated chart below shows Apple at a key resistance zone right now. A double bottom could be forming, but the stock is in a long-term downtrend and stalling in the middle of the three month range. A move above 435 would open the door for a double bottom... READ MORE
Trading turned a bit mixed on Monday as stocks digested recent gains ahead of earnings and testimony from Fed Chairman Bernanke. This is a big week for earnings with Goldman Sachs, Coca-Cola and Yahoo! reporting on Tuesday. Wednesday and Thursday are the biggest days though. Bank of America, IBM,... READ MORE
AMGN Breaks Resistance with 7-day Advance. PLCM Forms 11 month Base. Plus DNDN, JBLU and R. This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need... READ MORE
The Uranium-Nuclear ETF (NLR) caught a bid last week and broke resistance to forge a 52-week high. Notice that a series of rising troughs (green line) preceded this breakout. The indicator window shows MACD confirming strength with a 52-week high of its own. Click this image for... READ MORE
Good morning Wall Street! After a little sand and sun, I am back in the saddle and ready to tackle the markets. Stocks and oil are running with the bulls as global economic prospects improve. Treasuries extended their downtrends as non-farm payrolls continued to improve. Money moving out is... READ MORE
The Utilities SPDR (XLU) is consolidating at a potential support level and traders should watch the consolidation high for a breakout. First, notice how broken resistance and the Fibonacci retracements mark support in the 36-36 area. This is a good spot for a bounce, but a breakout is needed... READ MORE