Stocks opened weak, got a pretty nice bounce and then turned lower to close weak. The major index ETFs were down around 1%. All sectors were down with the Energy SPDR (XLE) and Basic Materials SPDR (XLB) leading the way. Weakness in these two can be attributed to declines in... READ MORE
With a bounce after the open on Tuesday, the Regional Bank SPDR (KRE) is showing resilience as it challenges flag resistance. Notice how the ETF surged from mid April to mid May and then corrected with the falling zigzag (flag). A breakout at 33.25 would signal a continuation higher.... READ MORE
US stocks are actually looking vulnerable on the charts as the major index ETFs stall near resistance levels and key retracements. Also note that Asian stocks were weak on Tuesday with the Shanghai Composite ($SSEC), Hang Seng Index ($HSI) and Nikkei 225 ($NIKK) falling over 1%. Emerging stock markets were... READ MORE
AAPL Battles Resistance after Announcements. AEO Forms Bear Flag. Plus COST, FCX, MHK, VLO This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves when... READ MORE
StockCharts Technical Rank (SCTR) for the S&P SmallCap 600 ($SML) ranks 600 small-cap stocks according to their technical strength. Chartists can also sort this table by change to find the bigger (relative) movers. Cbeyond (CBEY), B&G Foods (BGS) and Tangoe Inc (TNGO) are leading today with... READ MORE
Stocks reacted positively to a rather routine employment report. The Labor department reported a 175,000 increase in non-farm payrolls for May. This is the not-to-hot and not-to-cold version of the jobs report. It is enough to suggest modest economic growth and keep the hopes alive for sustained quantitative easing.... READ MORE
The Nasdaq 100 ETF (QQQ) fell below 72 on Thursday, but rallied to forge a strong close and form a hammer. Also notice that volume surged to its highest in over three months. QQQ followed through with a gap and move above 73, but has yet to break flag resistance... READ MORE
The market is hitting its first make-or-break point. The bulk of the evidence remains bullish and this decline is still considered a correction within a bigger uptrend. The current decline, however, has extended long enough to push some indicators to the brink though. NYSE Net New Highs have been flirting... READ MORE
And now for the employment report. Here's the thing with these big reports. Traders have to get two things right to successfully trade the report. First, you have to guess the non-farm payroll number. Second, you have to guess the market's reaction. The report can be... READ MORE
Finisar (FNSR) has had a tough year so far, but the stock is showing signs of life after a bear trap in late May (failed support break) and gap breakout in early June. Also notice that RSI is challenging range resistance and a breakout at 60 would be bullish for... READ MORE
It was a sea of red on Wednesday as the major index ETFs extended their declines and all nine sectors fell. That's the bad news. The good news, perhaps, is that the stock market is short-term oversold now. The upcoming employment numbers represent the uncertain news. The economic... READ MORE
BBRY Tests Channel Support with Bounce. DE Breaks Flag Support. Plus IMAX, KBH, MWV, PKI 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
Target (TGT) surged to a new high above 72, but failed to hold above 72 as a shooting star candlestick formed on Tuesday. The stock went on to fill Tuesday's gap with a long filled candlestick on Wednesday. This confirms the shooting star and resistance in the 71-72... READ MORE
Stocks were all over the place on Tuesday. The major index ETFs opened stronger, moved lower during the day and bounced in the afternoon. Despite this bounce, the major index ETFs closed lower with the Russell 2000 ETF (IWM) leading the way (-1.06%). All sectors were lower with the... READ MORE
Facebook (FB) led the market from late October until early January, but stumbled in January and has lagged the S&P 500 since. Despite relative weakness and a 4-5 month downtrend, support could be near as the stock trades near the 61.80% retracement and broken resistance. Click this... READ MORE
Stocks opened weak, but firmed and rebounded in the afternoon. The major index ETFs finished mixed on the day with the S&P MidCap 400 SPDR (MDY) falling .34% and the Russell 2000 ETF (IWM) rising .95% on the day. Wow, you don't see that very often.... READ MORE
AMCC Makes a Move with Good Volume. ASEI Tests Support with Long Lower Shadow. Plus CAT, ISRG, JBLU, NIHD 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
Weakness is spreading in Asia as the Australian All Ords Index ($AORD) breaks support from the April lows. The chart below shows the index testing support last week. $AORD closed at 4873 on Monday, which is just below the April lows. Also notice that the index has been underperforming the... READ MORE
The major index ETFs closed lower as stocks were hit with some pretty strong selling pressure Friday afternoon. The S&P 500 ETF (SPY) led the way with a 1.44% decline. All sectors were down with the Healthcare SPDR (XLV), Consumer Staples SPDR (XLP) and Utilities SPDR (XLU)... READ MORE
The US Dollar Index ($USD) is in a long-term uptrend, but the index pulled back this week to test the most recent breakout. A strong breakout should hold, while a weak breakout would fold. This is am important test for the greenback as we head into a big economic reporting... READ MORE
Gold stocks remain down in the dumps and in long-term downtrends, but signs of short-term strength are emerging. Randgold (GOLD) formed a higher low in May and the current X-Column broke above the prior X-Column to forge a P&F breakout. This breakout, however, is still below the Bearish... READ MORE
After hitting new highs in mid May, the major index ETFs moved into consolidation patterns the last two weeks. A little rest, or even a pullback, would be healthy for the uptrend. With this sideway movement, there is no change in the indicator summary. Of note, the Nasdaq is showing... READ MORE
Stocks moved higher again on Thursday with mid-caps leading the way. The overall gains were modest though and the major index ETFs remain below Tuesday's highs. The Finance SPDR (XLF) led the sectors here with a 1.2% gain on the day. The Technology SPDR (XLK) and Industrials... READ MORE
For the second Thursday in a row, the Nikkei 225 ($NIKK) fell over 5% and extended its correction. While the decline from 15900 looks dramatic, it is still just a correction within a bigger uptrend and pales in comparison to the prior surge. The November trend line and broken resistance... READ MORE
AAPL Stalls Just below Neckline Resistance. ABX Breaks Trend Line with Good volume. Plus HCA, JDSU and WNR 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
Stocks weakened on Wednesday with the defensive sectors leading the way down. The Consumer Staples SPDR (XLP), Healthcare SPDR (XLV) and Utilities SPDR (XLU) declined 1.5% or more. Interest rate sensitive stocks continued to slide with the Real Estate iShares (IYR) and Telecom iShares (IYZ) falling around 2%. Homebuilders... READ MORE
Stocks got their pop with a strong surge on the open. Even though stocks closed higher, I was not impressed with post-gap price action. In addition, notice that indecisive candlesticks formed in a number of stocks and ETFs. The charts below show SPY and QQQ forming small black candlesticks with... READ MORE
The Utilities SPDR (XLU) and the 20+ Year T-Bond ETF (TLT) both peaked in early May and declined sharply the last four weeks. The Real Estate iShares (IYR) continued higher into mid May, but peaked last week and fell sharply the last four days. Interest rate sensitive issues are not... READ MORE
Stocks and the Dollar are in uptrends, while Treasuries and gold remain in downtrends. Stocks pulled back on Wednesday and opened weak on both Thursday and Friday. However, buyers stepped in after these weak openings and stocks closed off their lows on both days. The bulls still have the edge... READ MORE
AMGN Corrects with Falling Wedge. FAST Surges and Consolidates. Plus BSBR, MOS IPI 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 when it... READ MORE
Spot Light Crude ($WTIC) has been quite volatile the last few weeks with two declines from the 97 area and two bounces off the 92 area. It is possible to draw three trend lines extending up from the mid April low. The mid May lows and third fan line mark... READ MORE
Stocks were hit with a reversal day on Wednesday, but this was not enough to affect the bigger uptrends. The AD Lines and AD Volume Lines hit new highs just before the reversal day. Net New Highs remain strong and the offensive sectors are leading again. Despite this bullish environment,... READ MORE
Stocks plunged on Wednesday and firmed somewhat on Thursday. Even though the medium-term trends remain up, the short-term uptrends are in jeopardy and stocks are still ripe for a correction. A correction can form as a sideways consolidation, a decline or as a combination of the two (think zigzag lower)... READ MORE
An interesting divergence is brewing between lumber and housing stocks. Lumber Futures ($LUMBER) fell around 25% the last two months, but the Home Construction iShares (ITB) hit a 52-week high recently. Something may need to give because lumber and housing stocks are positively correlated for the most part. Click this... READ MORE
Stocks finally got spooked as the bulls pulled in their horns and the bears showed their claws. The market opened strong and moved higher in early trading, but quickly reversed and moved sharply lower. The Fed got the blame as investors contemplated an end to quantitative easing. Frankly speaking, an... READ MORE
AAN Fails to hold Breakout. BBRY Underperforms the Market. Plus BTU, CHH, FCX, FDX, SYMC, XME 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... READ MORE
The advance may be slowing, but stocks continue to grind higher. The major index ETFs finished with small gains as the Russell 2000 ETF (IWM) gained .02% and the S&P 500 ETF (SPY) advanced .14%. The sectors were mixed with the Technology SPDR (XLK) edging lower and the... READ MORE
Solar stocks are on the move today and volume is increasing in several names. The image below comes from the "strong volume gainers" scan on the pre-defined scans page. Click any of the headings to sort this table. There are five solar-related stocks making the cut. Click this... READ MORE
Stocks edged higher in the morning and lower in the afternoon. As a result, the major index ETFs finished mixed on the day with the Russell 2000 ETF (IWM) closing slightly higher and the Dow Industrials SPDR (DIA) closing slightly lower. The Energy SPDR (XLE) led the sectors with a... READ MORE
BSBR Gets Set for another Go at Resistance. FDX Breaks Pennant Resistance. Plus ANF, FNSR, STLD 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... READ MORE