While the stock market swooned over the last few weeks, Dell Inc (DELL) held its ground and did not break its late May lows. In fact, the stock has been edging higher the last three weeks. The indicator window shows the Price Relative rising to a new high for 2011.... READ MORE
The S&P 500 ETF (SPY) attempted to reverse course twice, but both surges quickly failed at 130 and the ETF moved sharply lower. Tuesday's surge was followed by a gap down on Wednesday and close below Monday's low. Blame is on Bad news (on... READ MORE
AMZN Firms after Support Break. CHK Forms Harami with Two Inside Days. KGC Forms Bull Flag after Surge. Plus DAL, RL, UAL, UTX 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
Stocks were down rather sharply on Wednesday, but a few were bucking the trend with gains. These can be found by looking for a little green in the Sector Market Carpet. Boston Scientific (BSX), Novellus (NVLS) and Network Appliance (NTAP) are attracting buyers on a big down day. Click this... READ MORE
Stocks surged with a broad advance that lifted most boats. Net Advances and Net Advancing Volume on both the Nasdaq and NYSE surged as well. These breadth surges were comparable to the breadth surges seen at the mid March and mid April lows. Also note that SPY formed a Harami... READ MORE
Stocks finally caught a bid with the Nasdaq leading the way higher. The image below comes from the Free Charts Page. All Nasdaq most actives are up. 8 of 10 NYSE most actives are up with Citigroup and Bank of America as the only decliners. Users can click the PerfChart... READ MORE
The S&P 500 ETF (SPY) remains oversold, but unable to sustain a bounce. Last week's bounce attempts failed as the ETF moved to new lows on Friday. SPY did manage to firm on Monday with a spinning top. Also notice that the body of the spinning... READ MORE
AAPL Returns to Support Zone. GMO Firms at Key Retracement. STEC Finds Support Near Large Gap. Plus DOW, LLL, WINN 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
The Commodity Index Fund ($DBC) surged back above 30 in June, but is near resistance from broken support and the 62% retracement mark. Also notice that RSI is trading in its resistance zone (50-60) after becoming overbought. This is a make-or-break area for DBC. Click this image for a live... READ MORE
There is no change in the stock market analysis as stocks became even more oversold on Friday. The S&P 500 ETF (SPY) opened weak with a gap down and closed weak. The ETF is now down around 5.5% in the last eight days, which compares to the... READ MORE
The Predefined Scans page features color coded bars so users can see when scans are active. Red bars show a decrease in hits. Green bars show an increase in hits. Today's intraday scan shows a sharp increase in the number of stocks making the cut in bearish scans.... READ MORE
With a few more downgrades this week, the indicator summary moved to zero. The March decline was enough to turn the indicator summary negative, but this decline was a mere correction within the bigger uptrend. With the indicator summary on the verge of turning negative again, I must wonder if... READ MORE
There is no change in the analysis of the S&P 500 ETF (SPY). The ETF broke its April low and is now trying to firm around 129-130. After a 4.8% decline in six days, the ETF bounced with a feeble move above 129 on Thursday. A move... READ MORE
Stocks tried to firm again on Wednesday, but buying pressure remains weak or non-existent. Most of this firmness stems from less selling pressure. SPY is down around 4.8% the last six days as it moved below its April low. This makes it short-term oversold. At this point, the most... READ MORE
Downside Volume Increases for CB. MMM Firms at Key Retracement. TEVA Forms Bull Flag. Plus BRCM,CHK,DELL,ISRG,MMC,NBR 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
The FirstTrust Internet ETF (FDN) has been moving lower with the rest of the market, but firmed the last two days. A doji formed on Tuesday and a small spinning top on Wednesday. This firmness is also occurring near the 62% retracement mark and the ETF is short-term oversold. Click... READ MORE
When it rains, it pours. Stocks were hovering in positive territory on Tuesday afternoon, but got hit with selling pressure in the final hour. Blame is on the economic outlook from Bernanke. After edging above 130 just after 3PM, the S&P 500 ETF (SPY) plunged and closed below... READ MORE
With the decline over the last several weeks, the Nasdaq 100 ETF (QQQ) broke below the Ichimoku Cloud for the third time since March. The ETF recovered quickly after the first two breaks. Also notice that the cloud is poised to turn red, which happens when the red line is... READ MORE
The April lows are starting to break. The Russell 2000 ETF (IWM), S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) broke their April lows. The Dow Industrials SPDR (DIA) and the Nasdaq 100 ETF (QQQ) remain just above their April lows. Weakness in the... READ MORE
ATMI Firms at Key Retracement. CHRW Breaks Support. SBUX Forms Extended Triangle. Plus BIDU, PNRA, PMCS 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
Stocks remain in corrective mode, but the bigger trends are still up. With a move below 131 on Friday, the S&P 500 ETF (SPY) has retraced around 62% of the March-May advance. Keep in mind that this advance forged a 52-week high, which affirms the larger uptrend. Support... READ MORE
With economic indicators and employment statistics coming up short this week, retail stocks came under considerable selling pressure. Led by weakness in Wal-Mart and Home Depot, the **Retail HOLDRS (RTH)** is down some 7% the last few weeks. Chart 7 shows RTH breaking the trendline extending up from early September.... READ MORE
Auto Nation (AN) is tracing out a clear Head-and-Shoulders pattern, but remains short of a confirming support break. The most recent signal was a triangle breakout last week. AN has since moved back into triangle support. A move below 32.5 would break support and argue for a trend reversal.... READ MORE
When does a short-term decline extend far enough to have medium-term or long-term consequences? That is the big question right now. As far as I can tell, the May decline has yet to do enough technical damage to change the medium-term outlook (2-6 months). As the indicator summary shows, the... READ MORE
And now for the employment report... There is not much to do but wait for the market's reaction to the jobs number. On the daily chart, SPY is trading within a falling channel. The last reaction high formed with a hanging man and long black candlestick. This is... READ MORE
Despite yesterday's sharp decline, a number of stocks bucked the selling pressure by gaining on the day or forming bullish candlestick patterns. Cornerstone OnDemand ($CSOD), which debuted on March 17th, formed a bullish engulfing and gained on Wednesday. Follow through above resistance would confirm this pattern. Click this... READ MORE
CVX Forms Bearish Wedge. ILMN Bucks the Selling Pressure. NVSL Forms Shooting Star. Plus ADSK, INTU, STX, XOM *********************************************** 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 S&P 500 ETF (SPY) surged above the wedge trendline with a four day advance and then gave it all back in one day. Wednesday's decline was broad-based with the most negative breadth since March. This decline signals the start of an extended decline or a... READ MORE
There are over 200 stocks across the various exchanges on Wednesday's bearish engulfing scan. From the NYSE, FedEx (FDX) formed a bearish engulfing on the first day of the month in both May and June. Wednesday's big bearish engulfing occurred on expanding volume. Click this image... READ MORE
The S&P 500 ETF (SPY) made it four in a row with a surge and trendline breakout on Tuesday. SPY opened strong, dipped intraday and surged at the close. A hanging man candlestick formed with a small body and long lower shadow. These are potentially bearish candlestick reversal... READ MORE
Google ($GOOG) has been trending lower since mid January, but support may be at hand in the 515 area. Broken resistance and the 62% retracement combine to mark support here. Also notice that RSI has a bullish divergence working the last few weeks. Click this image for a live chart... READ MORE
GOOG Hits Retracement Support. JBLU Forms Higher Low. NWSA Challenges Resistance with Ascending Triangle. Plus BBT, EXPD, LINTA, UAL. *********************************************** 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... READ MORE
With a three day bounce last week, the S&P 500 ETF (SPY) is poised to challenge the upper trendline of the falling flag/wedge. The ETF opened strong on Friday and then stalled the rest of the day to form a doji type candlestick denoting indecision. A little... READ MORE
A basic tenet of technical analysis is that broken resistance turns into support. Biadu broke two resistance levels and these combine to form a support zone. With the stock firming the last two week, watch for a bounce above the mid May high to reverse the May slide. Click this... READ MORE
There are areas of weakness in the stock market, but the bulk of the evidence remains bullish. The Nasdaq AD Line broke below its April low, but the NYSE AD Line remains in a clear uptrend. SPY momentum was downgraded to bearish as MACD(5,35,5) moved into negative... READ MORE
SPY followed through on the doji and piercing pattern with another modest gain on Thursday. The ETF closed up a mere .46%, but the white candlestick was once again rather long as SPY opened weak and closed fairly strong. So far, this looks like an oversold bounce within a downtrend... READ MORE
With a gap down, three day stall and gap up, Microsoft (MSFT) forged a bullish island reversal. Technically, the high of the 3-day consolidation is 24.31 and today's low is 24.32. The gap zone is one cent. Nevertheless, the essence of a island reversal is there.... READ MORE
There is no real change on the charts as SPY continues to firm after Monday's gap down. The ETF formed a doji on Monday, which indicates indecision. After a weak open on Wednesday, SPY recovered and closed above 132 to form a white candlestick that closed above the... READ MORE
AAPL Hits Support Zone. APOL Breaks Support. SCMR Forms Large Bullish Engulfing. Plus APA,APC,CCI,DNR,EXP,IPG,PLCE,SCMR. *********************************************** 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
Renko charts filter out the noise by requiring minimum price moves before the plot changes. This Renko chart shows the Dow Industrials SPDR (DIA) based on closing prices with 50 cents as the minimum move. A clear decline has taken shape in May with resistance at 125. Click this image... READ MORE