ABX Firms at Key Retracement. ERIC Bucks the Selling Pressure. Plus KGC, SCHW, SWC, TGT 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
There are not many gainers today, but a few can be found on the Sector Market Carpet. The isolated green boxes show the stocks bucking the selling pressure. Tenet HealthCare and Hospira are up in the healthcare sector, while Best Buy and Time Warner are up in the consumer discretionary... READ MORE
The markets embraced a little pre-election risk on Tuesday with the Dow Industrials SPDR (DIA) and S&P MidCap 400 SPDR (MDY) leading the way. The gains were modest, the election is over and investors can now turn to the next big issue (the fiscal cliff?). Energy, finance, materials... READ MORE
Even though the 50-cent P&F chart for QQQ sport a double bottom breakdown, the overall trend is up because QQQ remains above the Bullish Support Line (blue). Also notice that the ETF is hitting support from broken resistance at 65. The moment-of-truth is here for QQQ. Click this... READ MORE
Stocks managed to firm on Monday with small gains in the major index ETFs. The Nasdaq 100 ETF (QQQ) and Russell 2000 ETF (IWM) led the way (up .66%). Six of the nine sectors were up with the Basic Materials SPDR (XLB) and Energy SPDR (XLE) leading the way. The... READ MORE
AMAT Breaks Wedge Resistance. ARUM Forms at 50% Retracement. Plus DUK, HUM, MCHP 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
Amazon.com surged with a long white candlestick last week and then stalled the next four days. Notice that these four candlesticks are all within the range of the long white candlestick. These inside days reflect a consolidation. Watch for a range break to trigger the next directional signal. Click... READ MORE
Markets move to risk-off mode in mid October. Since October 16th, the S&P 500 ETF is down 2.73%, the Euro Currency Trust (FXE) is down 1.7%, the US Oil Fund (USO) is down a whopping 8.16% and the Gold SPDR (GLD) is down 4.03%... READ MORE
Stocks surged on Thursday and even followed through on Friday morning, but strength did not last long as selling pressure kicked in after the initial pop. Perhaps some pre-election jitters produced this classic pop and drop. Whatever the case, the Russell 2000 hit stiff resistance near its channel trend line... READ MORE
The Consumer Discretionary SPDR (XLY) is getting a boost on Friday from several big moves within the sector. As the StockCharts Technical Rank (SCTR) table shows, the top four SCTR gains come from the consumer discretionary sector. You can read more about SCTR in our ChartSchool article. Click this image... READ MORE
The indicator summary remains neutral. Weakness in the Nasdaq weighed on the Nasdaq AD Volume Line and the technology sector, both of which are bearish. Strength in the finance sector kept the NYSE AD Line strong and NYSE Net New Highs remain positive. I am also starting to see relative... READ MORE
Better than expected data on the economy lifted stocks and punished treasuries. The ISM Manufacturing Index rose to 51.7 in October. Anything above 50 favors economic expansion. In a preview of today's non-farm payroll report, the ADP Employment report showed the biggest increase in private payrolls since... READ MORE
The S&P 500 declined sharply in October, but caught a bid on November 1st and held above the Bullish Support Line. This line has held since October 2011 and represents a one year uptrend. A move below this trend line would signal a reversal. Click this image for... READ MORE
Stocks are holding their breath ahead of an economic avalanche and presidential election. Today we can expect the ADP Employment Report, Challenger Job Report, Jobless Claims, ISM Manufacturing Index, Construction Spending, Consumer Confidence and Auto/Truck Sales. The Employment Report and Factory Orders will be on Friday. And, of course,... READ MORE
ADP Breaks Pennant Support. AEE Bounces off Support with Good Volume. Plus BDX, BWA, DUK, ESRX, JCP, PAYX 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
A look at the Dow Jones industry groups shows strength coming from the DJ US Building and Fixtures Index ($DJUSBD), the DJ US Industrial Suppliers Index ($DJUSDS) and the DJ US Heavy Construction Index ($DJUSHV). These three groups, which are in the industrials sector, are likely benefitting from the rebuilding... READ MORE
Bombardier (BBD/B.TO) got a big surge in early September and then formed an extended triangle the last six weeks. Upside volume within the triangle is picking up as OBV moves higher in the indicator window. A triangle breakout would signal a continuation of the September surge. Click this... READ MORE
TELUS Corp (T.TO) is showing signs of price strength with a channel breakout in late September and a surge over the last four days. This four day surge reinforces support in the 61-62 area. TELUS is on the verge of a breakout, but volume has been weak and has... READ MORE
First, note that the NYSE and Nasdaq are closed on Monday because of hurricane Sandy. I am going to review some daily charts to offer a little more perspective today. After a rough start to the week, stocks managed to firm the last three days. Firmness is one thing. Buying... READ MORE
The uptrend in the Home Construction iShares (ITB) is stalling as three bearish engulfing patterns formed in the 26 area. ITB was poised to break resistance with a surge on Thursday, but failed to hold its gains and continued lower on Friday. The Sep-Oct lows mark key support. Click this... READ MORE
The indicator summary reflects the split nature of the stock market. The finance sector is strong, but the technology sector is weak, very weak. The consumer discretionary and industrials sectors are holding the line though. Much of the weakness stems from the Nasdaq and technology sector. The Nasdaq AD Volume... READ MORE
Stocks managed to eek out small gains on Thursday as the Russell 2000 ETF (IWM) advanced .41% and the Nasdaq 100 Equal-Weight ETF (QQEW) added .52%. Note, however, that the Nasdaq 100 ETF (QQQ) closed down a fraction (.01%). Stocks were under selling pressure after the close as Amazon and... READ MORE
Nordstrom (JWN) surged last week, but gave back these gains with a sharp decline the last six days. JWN is now testing support from the late September low. Momentum abruptly shifted as well. Notice that CCI plunged below -100 and this may signal that a new downtrend is emerging for... READ MORE
Stocks remained under pressure on Wednesday, but the losses were relatively muted. Techs were again under pressure with declines in the Semiconductor SPDR (XSD), Networking iShares (IGN) and FirstTrust Internet ETF (FDN). These three held up relatively well on Tuesday, but gave it all back on Wednesday. There has been... READ MORE
CHH Consolidates after Breakdown. IMAX Forms Bull Flag after Surge. Plus CTSH, F, LXK 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
With a sharp decline the last five weeks, the Nasdaq is poised to test its rising 200-day moving average. The red line is the 200-day and this key average was last tested in early June. Note that the index is underperforming the S&P 500 as the price relative... READ MORE
Stocks were hit with selling pressure on Tuesday, but there were some pockets of strength in the technology sector. The Dow Industrials SPDR (DIA) led the way lower with a 1.77% decline. The Russell 2000 ETF (IWM) held up the best with a .50% decline. Go figure. Materials stocks... READ MORE
The image below comes from a Major Indices Market Carpet. The Dow Industrials is getting hit hard, but the Dow Transports is holding up rather well thanks for strength in UPS. The Nasdaq 100 ($NDX) is also holding up rather well with gains coming from Yahoo and Virgin Media. Click... READ MORE
Stocks meandered around on Monday as trading turned quite mixed. The Nasdaq 100 ETF (QQQ) edged higher, while the S&P MidCap 400 SPDR (MDY) edged lower. Apple caught a bid ahead of its earnings report on Thursday. The sectors were also mixed with the Basic Materials SPDR (XLB)... READ MORE
Careful out there. It is earnings season. CAH Forms Bear Flag after Breakdown DAL Forms Pennant after Breakout. Plus HAS, NKE, TSN 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
It was another rough week for the stock market, especially tech stocks. Even though the S&P 500 ETF (SPY) remains within a consolidation pattern since mid September, the Nasdaq 100 ETF (QQQ) is in a clear downtrend with a 6+ percent decline from its mid September high. Relative... READ MORE
Weakness in the technology sector has been offset by strength in the finance sector since early September. This is why the S&P 500 is range bound the last five weeks and the Nasdaq is in a downtrend. With these two sectors cancelling each other out, chartists must turn... READ MORE
OpenTable (OPEN) shows signs of rolling over as a lower high takes shape and MACD moves below its signal line. Notice that OPEN hit resistance near the 61.80% retracement just above 46. MACD is barely in positive territory and this downturn puts it on the trajectory to turn negative.... READ MORE
The indicator summary weakened a little big more because I downgraded SPY momentum to neutral. The market is clearly split with relative weakness in the technology weighing on the Nasdaq and relative strength in the finance sector helping the NYSE. In fact, the NYSE AD Line hit a new all... READ MORE
Tech stocks got whacked again as Google and Microsoft came up short on their earnings reports. The trend in worse-than-expected earnings continues, especially for tech companies and especially for tech companies tied to the PC (Microsoft, Intel, AMD, Checkpoint, HP). The Technology SPDR (XLK) was already underperforming the broader market... READ MORE
Now wonder the Technology SPDR (XLK) is getting slammed. The image below shows the technology sector in market capitalization mode on the Sector Carpet. Three of the biggest boxes are red. Google (1) is down the most, Apple (2) is down almost 2% and IBM (3) is down almost 3%... READ MORE
The markets moved from risk-off mode last week to risk-on mode this week. Perhaps the markets are like the weather. Don't like the trend? Wait a day or two and it will change. Trading has been quite volatile the last few weeks and we could see another mood... READ MORE
Careful out there. Earnings season is upon us. AA Battle and Hold Support. HBAN Surges within Consolidation. Plus KO, MGM, MOS, POT, SYMC 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... READ MORE
Chartists can use the StockCharts Technical Rank (SCTR) table on an intraday basis to find stocks making big moves. A sort of the "change" column shows First Solar and Dean Foods improving the most in early trading. Also notice that four financial stocks and three technology stocks are... READ MORE
Stocks extended their oversold bounce with the Nasdaq 100 ETF (QQQ) leading the way. QQQ was one of the hardest hit and subsequently got the biggest rebound. All sectors were up with Basic Materials SPDR (XLB) surging 2.4% on the day. Energy was also strong as the Energy SPDR... READ MORE