The Sector Market Carpet is a great way to find market leaders. Today, the Basic Materials SPDR (XLB) is the strongest sector with the average stock up around 1.9%. Drilling down into the sector shows all 30 components moving higher. Alcoa (AA) has the smallest gain (.91%) and Cliffs... READ MORE
Stocks got an oversold bounce on Monday with the S&P MidCap 400 SPDR (MDY) leading the charge. Mid-caps occupy a certain sweet spot in the market because they are not too big and not too small. All nine sectors moved higher with the Healthcare SPDR (XLV) and Finance... READ MORE
Careful out there. Earnings season is in full swing. AAPL Forms Second Hammer. TXN Gaps and Gains on High Volume. Plus GRMN, JBLU, PMTC, SRCL. 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... READ MORE
The Spain Bolsa de Madrid IBEX 35 Index ($IBEX) surged from mid July to mid September and turned back the last three weeks. Despite a 30% bounce off the lows, the index is still in a bigger downtrend and resistance is nigh. The center of the prior triangle marks a... READ MORE
Stocks moved lower last week with the S&P 500 ETF (SPY) falling over 2%, which was the steepest decline since May. The Nasdaq 100 ETF (QQQ) lost 3.33% as large techs really took it on the chin. The Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) led... READ MORE
Corn surged during the summer drought news and then corrected as summer drew to a close. This correction appears to be ending as December Corn ($CZ12) broke channel resistance and the Percent Price Oscillator (PPO) turned up. This week's low now marks key support at 725. Click this... READ MORE
The indicator summary remains positive overall, but there are clearly some bearish undercurrents at work. Namely, the Nasdaq and technology sector are underperforming and showing relative weakness. The $COMPQ:$NYA ratio broke down this past week and the Technology SPDR (XLK) is the weakest of the nine sectors over the... READ MORE
Stocks started the day strong, but selling pressure took hold and the market finished mixed. Just how mixed? The Nasdaq 100 ETF (QQQ) edged lower (-.31%), but the Nasdaq 100 Equal-Weight ETF (QQEW) edged higher (+.35%). The sectors were also mixed with six up and three down. The Technology... READ MORE
The Sector PerfChart shows the Finance SPDR (XLF) leading the S&P 500 since September and the Technology SPDR (XLK) lagging the S&P 500. These two sectors are by far the biggest sectors in the index. Moreover, this performance split explains the trading range in the S&... READ MORE
Stocks took it on the chin again with more selling pressure on Wednesday. The declines were modest with the Dow Industrials SPDR (DIA) falling around 1% and the Russell 2000 ETF (IWM) falling just .16%. After a four day decline, stocks are getting short-term oversold and some of the major... READ MORE
Be careful with stocks about to report earnings. AAPL Forms High Volume Hammer. AIV Surges off Support with Good Volume. Plus AMT, BHP, CNL, LM, PEP 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
The Sector Market Carpet is mostly red on Wednesday, but there are some pockets of strength. Overall, the finance is holding up the best and the energy sector is faring the worst. The consumer discretionary and materials sectors also show red and relative weakness on Wednesday. Click this image for... READ MORE
Stocks got smacked hard on Tuesday with the Nasdaq 100 ETF (QQQ) again leading the way down. The Russell 2000 ETF (IWM) was also relatively weak with a 1.17% decline on the day. Eight of the nine sectors were lower with the Consumer Discretionary SPDR (XLY) falling the most.... READ MORE
The Russell 2000 ($RUT) is leading the market lower and closing in on its rising 50-day simple moving average. Broken resistance from the May-August highs also marks potential support in the 820-830 area. Small-caps ($RUT) are leading the market lower since mid September. Click this image for a live chart.... READ MORE
Stocks edged lower with the Apple-laden Nasdaq 100 ETF (QQQ) leading the way (-.95%). The Russell 2000 ETF (IWM) was also relatively weak with a .63% decline on the day. Seven of the nine sectors were lower with the Technology SPDR (XLK) falling over 1%. The Energy SPDR (XLE)... READ MORE
ADI Gaps Below Wedge Support. VALE Bounces off Key Retracement with Big Volume. Plus AKS, ANF, CLF, NUE, PMTC, RHT, SO, YUM 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
The FirstTrust Internet ETF (FDN) peaked in mid September with a shooting star candlestick. After dipping below 37.50, the ETF bounced back to this peak and formed a bearish engulfing last week. These two affirm resistance at 39. A break below 38 would confirm the bearish engulfing pattern. Click... READ MORE
It was a fairly good week for the bulls. The S&P 500 ETF (SPY) and Dow Industrials SPDR (DIA) gained around 1.5%. The Finance SPDR (XLF) led the way with a 3% gain. The Consumer Discretionary SPDR (XLY) and the Industrials SPDR (XLI) also performed well with... READ MORE
The Metals & Mining SPDR (XME) is battling to hold its resistance breakout. XME broke resistance with a big surge in early September and broken resistance turns into first support in the 43 area. This is a classic tenet of technical analysis: broken resistance turns support. A spinning top formed... READ MORE
The Nasdaq 100 ETF (QQQ) is up since late August, but the price relative is down. The price relative is the QQQ:SPY ratio, which measures relative performance. This ratio peaked in late August and moved sharply lower the last 5-6 weeks. This means QQQ is underperforming the broader market.... READ MORE
The bulk of the evidence remains bullish, but there were two downgrades based on relative weakness in the technology sector. The offensive sectors are split with the consumer discretionary and finance sectors showing relative strength, but the technology and industrials sectors showing relative weakness. By extension, Nasdaq performance has been... READ MORE
The markets moved to risk-on mode on Thursday as stocks edged higher, treasuries fell, oil surged around 5%, the Dollar fell and the Euro rose. And now for the employment report. The major index ETFs moved modestly higher with the S&P MidCap 400 SPDR (MDY) leading the way... READ MORE
The Sector Market Carpet shows the Energy SPDR (XLE) and the Finance SPDR (XLF) with the most green. The average energy stock is up 1.6% and the average finance stock is up 1.1%. XLE is getting an oversold bounce after Wednesday's decline. XLF is poised for... READ MORE
I get the feeling that this market does not want to go down. As with late August, the major index ETFs underwent a mild correction the last three weeks. There was a sharp decline last week, but selling pressure dried up and stocks firmed the last three days. Chartists should... READ MORE
AKAM Forms Bullish Flag. SYMC Falls to Support on High Volume. Plus HAS, ISRG, SNDK 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
After hitting a new high above 700 in mid September, Apple (AAPL) gapped down and declined to around 660. Three items mark support in this area. The early September low, the 38.2% retracement and the rising 50-day moving average. With a doji signaling indecision and the Stochastic Oscillator turning... READ MORE
Strange, and indecisive days, continued as the Dow Industrials SPDR (DIA) edged lower and the S&P MidCap 400 SPDR (MDY) edged higher. Stocks were about as mixed as can be on Tuesday. Six of the nine sectors were up, but the biggest gain was just .52% from the... READ MORE
Monday was a strange day indeed. Stocks were truly mixed with the Dow Industrials SPDR (DIA) advancing around 1/2% and the S&P MidCap 400 SPDR (MDY) declining the same amount. It is definitely a strange day when two relatively broad indices move in opposite directions. There were... READ MORE
BIDU Forms Bearish Wedge. CHKP Shows Relative Weakness as Downside Volume Increases. Plus FAST, LXK, MAT, PCP, SWY 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
The Agribusiness ETF (MOO) surged over the last three days and broke falling flag resistance. The flag breakout is bullish as long as it holds. Broken resistance and the June trend line mark support at 50.50. The corn and wheat funds are shown in the indicator window for reference.... READ MORE
Strength in the Dollar and US Treasuries remains a negative for the stock market. Even though these uptrends are still relatively short, continued strength in the Dollar and Treasuries would weigh further on stocks. The chart below shows five intermarket securities with a black dotted line on 14-Sep. This date... READ MORE
After a corrective decline the last few weeks, Cisco (CSCO) firmed on Wednesday with a small hammer and then surged above the wedge trend line with a gap on Friday. The gap-breakout is bullish until proven otherwise with a decline back below 18.25 Click this image for a live... READ MORE
There is no change in the indicator summary, but the market is looking a bit tired and perhaps ripe for a correction or consolidation period. The Nasdaq AD Volume Line did not come close to its spring high and the NYSE AD Volume Line hit resistance from its spring high.... READ MORE
Stocks rebounded across the board with the hardest hit groups getting the biggest pops. The Nasdaq 100 ETF (QQQ) led the way with a 1.38% bounce. Eight of nine sectors were up with energy leading the way on the heels of a big oversold bounce in crude. The utilities... READ MORE
The PerfChart below shows three month performance for two chip makers (Intel and AMD), two PC-related companies (Dell and Hewlett Packard) and mister softy (Microsoft). Only Microsoft is up during this period, and just barely. The others are having a really difficult time, even with the S&P 500... READ MORE
Stocks continued lower with modest losses in the major index ETFs. The Nasdaq 100 ETF (QQQ) led the way lower with a .81% decline. Eight of nine sectors moved lower with energy and technology leading the way. The defensive sectors held up the best with the utilities sector providing the... READ MORE
AA Returns to Breakout for Big Test. AMX Firms with Good Upside Volume. Plus DLTR, MMM, MSFT, NVDA 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
The battle for the breakout is on as the Metals & Mining SPDR (XME) declined to broken resistance and formed a big spinning top. These candlesticks show serious indecision. XME broke resistance in early September and is now trying to decide if this breakout is worth holding or not. Watch... READ MORE
Stocks ended their meandering ways with some downside direction on Tuesday. The Nasdaq 100 ETF (QQQ) and Russell 2000 ETF (IWM) led the way lower with losses around 1.4%. All nine sectors were lower with the Technology SPDR (XLK) and Finance SPDR (XLF) leading the way. The defensive sectors... READ MORE
After a big run from late July to mid September, the Junior Gold Miners ETF (GDXJ) formed a bearish candlestick reversal over the last 4-5 days. First, there was the gap and doji. This signaled sudden indecision after a big jump. Second, selling pressure followed this indecision as the ETF... READ MORE