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-... 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... 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... 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 of... 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... 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)... 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... 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... 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... 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... 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... READ MORE
Finisar (FNSR) plunged with a move from 23.50 to 18, but found support right at the 61.80% retracement line, which is based on a Fibonacci number. Even though the stock has yet to recover, it is consolidating with clear support and resistance levels to watch going forward. Click... READ MORE
The indicator summary remains firmly positive with relative weakness in small-caps the only concern in the market right now. Well, I am also concerned with overbought conditions that could lead to a corrective period ahead. Nevertheless, we have yet to see any signs of significant selling pressure. The current... READ MORE
The second shoe dropped for the S&P 500 ETF (SPY) and Russell 2000 ETF (IWM), but the Nasdaq 100 ETF (QQQ) held up rather well (surprise, surprise). I heard an interview with Barry Ritholtz talking about the four asset classes: stocks, commodities, bonds and Apple. While Apple sentiment... READ MORE
The Sector Market Carpet shows the nine S&P sectors with the energy sector displaying the most red. The average stock is down 2.9% and three of the five biggest losers come from this sector. Defensive sectors held up the best on Thursday with consumer staples, healthcare and... READ MORE
Is the second shoe about to drop? Stocks fell sharply on the open Tuesday and then consolidated since this open. Short-term, and I do mean very short-term, the S&P 500 ETF (SPY) held the gap down and formed a pennant consolidation on the 60-minute chart.... READ MORE
CAT Gaps Down on High Volume. KSS Stalls after Gap Down. MON Forms Triangle Consolidation. Plus AMGN, HAL, OIH, SWC 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
With a gap up, two candlesticks and a gap down, the Steel ETF (SLX) formed an island reversal over the last five days. Notice that this reversal formed near the late February highs and the ETF broke the March trendline with further weakness on Wednesday. Click this image for a... READ MORE
Stocks were hit with selling pressure on the open, but the major index ETFs worked their way higher the rest of the day. The S&P 500 ETF (SPY) opened around 140 and worked its way to the 140.60 area by the afternoon. On the 10-minute chart,... READ MORE
Want to gauge retail spending? Just take a look at the Consumer Discretionary SPDR (XLY), which hit a new 52-week high today. There are 80 stocks in this sector and most are dependant on consumer spending to drive revenues (think Disney, Macy's, Amazon, Starbucks, DR Horton). New... READ MORE
The song remains the same (circa 1973). Stocks are overbought, but there are simply no signs of significant selling pressure. Maybe that will change with stock futures down in early trading on turnaround Tuesday. Over the last nine days, the S&P 500 ETF (SPY) is up 4.98%... READ MORE
AMZN Underperforms with Triangle Consolidation. CHH Stalls Below Late December high. RDC Forms Harami Cross within Rising Wedge. Plus BIDU, CHH, CHRW, D, QLGC and WIN This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short... READ MORE
Volatility is falling everywhere these days. Notice that the CBOE Volatility Index ($VIX) and the Crude Oil Volatility Index ($OVX) both moved sharply lower in March. $OVX plunged the last two weeks as Spot Light Crude bounced off the 105 area for the second time this month. Click this image... READ MORE
Stocks are about as overbought as they have been in a long time. Even so, there are simply no signs of significant or sustained selling pressure. Declines, such as those seen in late January or early March, have been short affairs lasting just a few days. The subsequent rallies proved... READ MORE
While the S&P 500 and Dow moved to new highs last week, the Materials SPDR (XLB) fell short of its February highs and continues to underperform. Also note that the Technology SPDR (XLK) and Consumer Discretional SPDR moved to new 52-week highs last week. Along with the... READ MORE
It has been a tough March for gold, but the Gold SPDR (GLD) may be at support marked by the Fibonacci Retracements Tool. Notice that the decline to 159 retraced 50-61.80% of the prior advance and the ETF firmed just above 160 the last two days. Watch for... READ MORE
There is no change in the indicator summary. Nine indicators were bullish at the start of the week and nine remain bullish. The AD Volume Lines surged to new highs with a strong move the last seven days. Net New Highs also expanded on both the NYSE and Nasdaq as... READ MORE
There is not much change overall. Stocks remain in strong uptrends with no signs of selling pressure. The S&P 500 ETF (SPY) surged above the upper trendline of a rising channel. There are two trends at work on this 60-minute chart. First, the rising channel defines an... READ MORE
The Dow Transports has been lagging the Dow Industrials for several weeks now, but is making a catch up bid with a falling flag breakout the last few days. After a breakout on Monday, the Average fell back sharply on Tuesday with a close below 5200. This decline was wiped... READ MORE
Treasuries are falling off a cliff, commodities are softening, gold is plunging, the Dollar is strengthening and stocks remain the best game in town. The recent decline in treasuries suggests that the economy will continue to expand and the labor market will continue to improve. Money moving out of treasuries... READ MORE
ALK Consolidates after Break Down. MOS Forms Bear Flag on Low Volume. SNDK Falls Back below Tuesday's Low. Plus JOYG, LEAP, TTWO. 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
Looking for a list of market leaders? Simply go to the pre-defined scans page for a list of stocks hitting new 52-week highs. Over 500 stocks made the list on Tuesday and over 400 made the list today. The chart below shows Fifth Third Bancorp (FITB) breaking consolidation... READ MORE
Stocks caught a big bullish wind in the final hour and surged with financials leading the charge. Yesterday's surge certainly has the markings of a blow-off top, which is the opposite of a selling climax. However, picking a top in this environment is very dangerous. On the... READ MORE