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
Energy related stocks are catching a bid as Spot Light Crude ($WTIC) challenges the $97. The chart below shows the Oil & Gas Equipment/Services SPDR (XES) breaking flag resistance and hitting a 52-week high on Monday. The flag zone now turns into support. Click this image for a live... READ MORE
There are simply no sellers out there. We can argue about low volume levels, the artificial Fed affect and lackluster economic data, but there are clearly more buyers than sellers in the stock market and stocks are rising. Admittedly, stocks are getting quite overextended again and ripe for a rest.... READ MORE
There were concerns a month ago when the defensive sectors were leading the market, but this changed as the offensive sectors took control over the past month. The defensive sectors include healthcare, consumer staples and utilities. The offensive sectors include technology, consumer discretionary, industrials and financials. Chartists can use PerfCharts... READ MORE
Stocks and the Dollar are performing well as both trade near six month highs. This strength is at the expense of Treasuries and gold, which are trading well below their November levels. The US Dollar Index ($USD) is trading at its highest levels since last summer. Spot Gold ($GOLD) has... READ MORE
There is no change in the indicator summary as stocks extended their gains again this week. The AD Lines and AD Volume Lines hit new highs. Net New Highs remain firmly positive. Momentum is bullish, if not short-term overbought. However, as we have seen since mid November, the term overbought... READ MORE
Stocks were trading flat most of the day, but got hit with selling pressure in the final hour. As a result, the major index ETFs closed modestly lower. The S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) fell around .50% on the day. Eight... READ MORE
Chartists can view the StockCharts Technical Rank (SCTR) for stocks in the S&P 500, S&P SmallCap 600, S&P MidCap 400 and Toronto Stock Exchange. These ranks can be sorted by change to find the biggest movers. Simply click the column heading the sort. Cisco... READ MORE
ALTR surges and forms small flag. ANN breaks wedge resistance with good volume. Plus BG, CIEN and EMC. 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 extended their uptrends with modest gains. All of the major index ETFs moved higher with the S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) leading the way. Both were up just less than 1%. Eight of the nine sectors were up with only... READ MORE
The Networking iShares (IGN) moved lower from early February to mid April and then bounced the last five weeks. This bounce is forming a rising wedge and nearing broken support, which turns resistance. RSI is also in its resistance zone (50-60). Thus, the moment-of-truth of truth is near with Cisco... READ MORE
Stocks surged and closed strong with small-caps leading the charge. All of the major index ETFs were up, but the Nasdaq 100 ETF (QQQ) and Nasdaq 100 Equal-Weight ETF (QQEW) lagged with relatively small gains (less than .50%). Apple was down sharply and weighed on QQQ. Relative strength in small-caps... READ MORE
The overall trend for the CRB Index ($CRB) is down this year, but the index bounced back above 288 this month. It looks like a strong jobs report and rebound in commodities was more than Treasuries could take as the 30-Year US Treasury ($USB) fell over 4% this month. Notice... READ MORE
ABC Forms Bear Flag. FLIR Traces out Rising Wedge. Plus HPQ, PG, T This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves when it... READ MORE
Stocks meandered on Monday as the major index ETFs finished the day mixed. The Russell 2000 ETF (IWM) and S&P 500 Equal-Weight ETF (RSP) edged lower, while the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) finished slightly higher. The materials sector was hit as... READ MORE
The chart below shows six commodity group ETFs from PowerShares. The Silver Trust (DBS) and Precious Metals Trust (DBP) are the weakest year-to-date, while the Energy Trust (PBE) and Oil Trust (DBO) the only ones with gains, albeit small gains. These year-to-date gains stem from strength in Natural Gas ($NATGAS)... READ MORE
The intermarket picture is getting interesting with some big moves last week. First, stocks and oil have been moving higher since April 19th. The US Oil Fund (USO) is up almost 9%, while the S&P 500 ETF (SPY) is up just over 5%. Strength in these two helped... READ MORE
The S&P 500 %Above 200-day SMA ($SPXA200R) is a breadth indicator that measures the degree of participation. The S&P 500 is trading near a 52-week high and over 90% of its components are above their 200-day moving average. This shows a high degree of participation and... READ MORE
It does not get more bullish than this, which may be a sign that things are getting too bullish. The AD Lines, AD Volume Lines, major index ETFs and offensive sectors all hit 52-week highs this past week. It is as if the bull market got back in sync as... READ MORE
Stocks took a little breather on Thursday as the major index ETFs edged lower. The losses were fractional, but the markets were clearly shaken by something in the afternoon. Rumors were swirling that the Fed may hint at changes to its quantitative easing program. This is believable because jobless claims... READ MORE
The S&P 500 ETF (SPY) surged to new highs in May, but the defensive sectors did not go along for the ride. The CandeGlance charts below show the Healthcare SPDR (XLV), Consumer Staples SPDR (XLP) and Utilities SPDR (XLU) peaking in late April. XLP and XLV have traded... READ MORE
APOL Holds Support after Pullback. FNSR Fails to Hold Breakout and Forms Bearish Pattern. Plus DNDN, HSY, LAZ, WIN, 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... READ MORE
Stocks are the place to be, the only place to be. The performance chart below shows the S&P 500 ETF (SPY) up a whopping 15.21% year-to-date. 99.99% of fund managers would kill the other .01% for an annual return like this, not to mention a six... READ MORE
Point & Figure charts filter out the noise and ignore time to give chartists a clean look at price action. On the 60-minute P&F chart below, the S&P 500 bounced off the 1540 level three times since mid March. This is about as clear of a... READ MORE