Stocks are short-term oversold, it is turnaround Tuesday, Apple reports earnings today and the bigger trend (6 months) remains up. On top of all this, traders will also be gearing up for the start of the Fed meeting today and policy statement on Wednesday (12:30PM). Stocks moved lower on... READ MORE
APD Breaks Rising Flag Support. AZO Forms Pennant with Strong Up Volume. LXK Forms Bullish Engulfing on Big Volume. Plus AMX, ANF, APD, COH 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... READ MORE
When it comes to the Commodity Channel Index (CCI), there is oversold and then there is OVERSOLD. Readings below -100 are average oversold, while anything below -200 is really oversold. For just the third time in twelve months, 20-day CCI for Apple moved below -200. Prior readings occurred in June... READ MORE
Stocks look heavy as selling pressure hit Friday afternoon and remains early Monday. $SPX futures are down around 10 points in early trading (5AM ET). Bonds and the Dollar are up, while gold and oil are down. Stocks surged last Tuesday, but gave back these gains with a decline on... READ MORE
The Energy SPDR (XLE) broke key support in late March with a sharp decline and has yet to reach the next key support level. The chart below shows XLE consolidating in the 69 area over the last two weeks. This consolidation looks like a rest within the downtrend. A break... READ MORE
The Nasdaq 100 ETF (QQQ) managed to firm after Monday's sharp decline, but remains within a short-term downtrend defined by a falling flag. It would take a move above resistance at 67 to reverse this fall. Chartists can also watch for the Commodity Channel Index (CCI) for confirmation.... READ MORE
The indicator summary dipped to +7 this week after two downgrades. The bulk of the evidence is still bullish, but a few indicators weakened with the April decline. The NYSE AD Line and AD Volume Line briefly broke their March lows. The Energy Bullish% Index ($BPENER) dipped below 50% to... READ MORE
Stocks weakened over the last two days as IWM broke its rising flag trendline and SPY tested its rising flag trendline. QQQ remains in a downtrend as Apple continues to weigh. On the 60-minute chart, SPY broke support with a sharp decline in early April to start a short-term downtrend.... READ MORE
The Sector Market Carpet shows big gains in three stocks powering these industry groups. EBAY is up over 15% and leading the internet group. FFIV is up over 13% and leading the networking group. Both groups are part of the technology sector. GILD is up over 10% and leading the... READ MORE
The moment of truth is drawing near. After a bounce the prior five days, the major index ETFs consolidated on Wednesday. DIA and SPY formed inside days to signal short-term indecision. Also note that rising flag patterns formed in DIA, SPY and IWM. A break below rising flag support levels... READ MORE
Careful out there. It is earnings season. AMAT Consolidates in Key Retracement Zone. GRMN Forms Flat Flag after Breakdown. STT Breaks Short-term Resistance with Volume. Plus HRB and HUM. This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell... READ MORE
Morgan Stanley fell to support with a sharp decline from late March to early April and then consolidated the last eight days. While the stock market bounced, MS remained flat and is lagging the market the past week. Watch the consolidation boundaries for the next directional signal. Click this image... READ MORE
Stocks surged with the oversold Nasdaq 100 ETF (QQQ) leading the major index ETFs higher on Tuesday. What is it about Tuesdays and turnarounds? All sectors were up with technology, industrials and energy leading the charge. IWM and SPY have five day uptrends working on the 60-minute charts, but these... READ MORE
The Industry Summary page provides chartists with an easy way to view performance for the nine big sectors and the industry groups that make up these sectors. The image below shows DJ US Coal Industry Index ($DJUSCL) leading the energy sector with a 4 plus percent gains. Chartists can click... READ MORE
The short-term trends for the major index ETFs may be down, but the medium-term and long-term trends are still up. Keep this in mind before getting too bearish. My best guess is that stocks will enter some sort of trading range over the next few weeks to digest the big... READ MORE
Careful out there. It is earnings season. AKS Forms Two Inside Days. TRV Forms Falling Flag after Breakout. UAL Surges on Higher Volume. Plus DNR, GGP, LLY, ORCL, WM This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell... READ MORE
With a bounce the last four days, the Transport iShares (IYT) held support from the early March low and remained range bound. Notice how the ETF has traded between 89.7 and 96 since mid January. Chartists should watch this range for the next directional signal. Click this image for... READ MORE
There were some trend changes over the last two weeks and some trend extensions. Most notably, stocks reversed their uptrends and the Dollar reversed its downtrend. While the bigger trend remains up for stocks, April's small-cap led decline started a short-term downtrend with key support breaks last week.... READ MORE
After falling out of favor in February and March, Hewlett Packard found support around 23 and gapped up on Thursday. Notice that the stock opened strong, moved higher throughout the day and closed strong. This gap looks like a breakaway gap that is confirmed by strong volume. Click this image... READ MORE
With a sharp move lower the last five days, the German DAX Index ($DAX) is testing support from the March low. In fact, support in the 6600 area extends back to early February. A break below this support level would suggest an even deeper correction that could weigh on US... READ MORE
Priceline has been one of the top performers over the last four months, but a correction may be in the cards after a high-volume bearish engulfing pattern. Notice how the stock opened above the prior close and then declined to close below the prior open. The strong open failed to... READ MORE
The chart below shows the High-Yield Bond ETF (JNK) breaking below its March low with a sharp decline the last eight days. This is negative for stocks because junk bounds and stocks tend to move in the same direction. Notice that the Correlation Coefficient (JNK, $SPX) has been mostly positive... READ MORE
The nine S&P Sector SPDRs were mixed last week with the defensive sectors scoring gains and the offensive sectors under pressure. The PerfChart below shows the consumer staples, healthcare and utilities sectors gaining for the week, while the fiance, industrials and tech sectors lost ground. With a 2.... READ MORE
The Regional Bank SPDR (KRE) and the Home Construction iShares (ITB) have led the market higher since October. ITB is up over 50% since early October and KRE is up over 40%. The chart below shows ITB in black and KRE in red. Notice how these two moved step-for-step over... READ MORE
After forming a broadening formation in 2011, the Gold Miners ETF (GDX) broke down with a sharp decline the last six weeks. GDX broke support from the 2011 lows and the next support zone resides in the 47.5 area. The indicator window shows GDX relative to GLD using the... READ MORE
The Networking iShares (IGN) shows relative weakness with a lower high in March and channel break the last few days. Relative weakness is also reflected in the price relative (IGN:SPY Ratio), which did not come close to its February high and remains in a downtrend. Click here for a... READ MORE
The chart below shows Dollar Bullish ETF (UUP) hitting support in the 21.8 area and surging the over 1% the last two days. Notice that UUP formed a higher low above the late October low and this surge could signal a continuation of the November-December advance. Click here for... READ MORE
After a big surge in February, PG moved into a trading range and the Bollinger Bands contracted significantly. This "squeeze" means volatility is contracting, which in turn could foreshadow a volatility expansion (range break). A close above the upper band would be bullish, while a close below the... READ MORE
Even though it may be lagging the S&P 500 ETF (SPY) on a percentage basis, the Consumer Staples SPDR (XLP) is leading the market on a "chart" basis with a 52-week high. In fact, there have been a string of 52-week highs since the latter part... READ MORE
The Home Construction iShares (ITB) has been one of the best performing ETFs over the last six months, but this run may hit resistance from the 2010 highs in the 15.50 area. The six month trend is clearly up and I would mark support at the early March low.... READ MORE
The six CandleGlance charts shows the CRB Index ($CRB) and five commodity groups. All are down today with the oil heavy CRB Index falling over 1%. The Industrial Metals Index (GJX) moved below its mid February low and the Agriculture Index ($GKX) fell over 4% the last nine days. Click... READ MORE
Programming Note: I will be on family vacation the next two weeks and Art's Charts will return on Monday, April 16th. Chinese stocks are under pressure again this morning, but US stock futures are holding fairly firm - so far. Perhaps US stocks look good relative to parts... READ MORE
AMAT Breaks Wedge Support with big Volume. BA Remains Stuck in Long Consolidation. DE Declines from Resistance. Plus CAKE and 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... READ MORE
Chinese stocks got slammed on Wednesday and pervasive weakness could weigh on US stocks. The major index ETFs remain in uptrends, but are overbought after big moves on Monday and still quite vulnerable to both a short-term and medium-term correction. On the S&P 500 ETF (SPY) chart, the... READ MORE
The Metals & Mining SPDR (XME) continues to show relative weakness as it tests its support zone stemming from the November-December lows. Also notice that the StockCharts Technical Rank (SCTR) confirms relative weakness by holding below 50 for over six months. Click this image for a live chart... READ MORE
On the Point & Figure chart below, the Energy SPDR (XLE) forged a Triple Bottom Breakdown when the most recent O-Column moved below the equal lows of the prior two O-Columns. This breakdown is bearish with a downside projection around 67.50, which coincides with the Bullish Support Line extending... READ MORE
Stocks moved sharply higher on Monday with small-caps leading the charge. Sector-wise, the technology, consumer discretionary, finance, industrials and healthcare sectors gained over 1.5% to show upside leadership. It was yet another a broad market surge within an uptrend that began way back on 19-Dec. On the S&... READ MORE
AMX Surges above Resistance with Good Volume. LUV Bounces off Support with High Volume. MON Consolidates with Tight Triangle. Plus ALK, FCX, MCP, XRX 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... READ MORE
After consolidating since mid February, TechTarget (TTGT) finally made a break with a three-day surge above resistance. The move looks impressive price-wise, but volume is sorely lacking thus far. Even though Monday's trading has yet to close, volume on the three day advance did not validate this breakout.... READ MORE
Stocks got an oversold bounce with small-caps, materials and energy leading the way on Friday. Despite this bounce, these three are lagging the broader market overall, which means this is a case of the worst hit groups getting the best bounce. Relative weakness in small-caps and the deterioration in breadth... READ MORE