Trading was quite volatile last week as the S&P 500 ETF (SPY) failed to hold Tuesday's gap and finished the week with a small loss. SPY gapped up and closed above 129 on Tuesday, stalled on Wednesday and then gapped down on Thursday. Despite this sharp... READ MORE
The major index ETFs are holding their March lows and there is no change in the indicator summary. The AD Volume Lines are also testing support from the March lows. In fact, both bounced sharply this week and are now back above their March lows. Even so, I will wait... READ MORE
The battle for support from the March lows continues to rage. Stocks opened sharply lower on Thursday, remained weak and then mounted a strong afternoon rally. This rebound pushed QQQ and IWM into positive territory by the close and cut most of the losses in SPY. On the 60-minute chart,... READ MORE
With a weak open and strong close, the Nasdaq 100 ETF (QQQ) formed a long white candlestick that is just as long as Tuesday's candlestick. Volume surged to its highest level since mid March. The lows of these two candlesticks now mark an important short-term support level. Click... READ MORE
Stocks extended their gains early Wednesday, but selling pressure hit the market in the afternoon and the major index ETFs closed weak. Some backing and filling can be expected after a sharp surge, such as that seen on Tuesday. At this point, it is important that the first support zones... READ MORE
CAKE Forms Triangle after Trendline Break. KGV Breaks Bull Flag Trendline. PLCE Forms Bear Flag within Downtrend. Plus BSX, IPG, ITUB. 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
Starbucks (SBUX) got a jolt over the last five days with a surge above the upper trendline of a falling channel. Maybe it has something to the grand opening in the Brussels train station! Taking a step back, this pattern looks like a massive flag and the breakout signals a... READ MORE
Techs and small-caps led the market higher as the S&P 500 ETF (SPY) broke above short-term resistance with a big surge. Breadth was also big with the Net Advances Ratios and Net Advancing Volume Ratios exceeding .50 ($NYAD:$NYTOT,$NYUD:$NYTV,$NAAD:$NATOT,$NAUD:$NATV). I will feature... READ MORE
From the Free Charts page, we can see that the 10 most active Nasdaq and NYSE stocks are up in early trading on Tuesday. Gains are especially strong on the Nasdaq. The image below comes from the CandleGlance link just under the most active list. Microsoft has been moving higher... READ MORE
On the daily chart, the S&P 500 ETF (SPY) is making a stand at support from the March low. After two spinning tops last week, the ETF opened weak and closed pretty strong. Market breadth was not that strong though. Net Advances and Net Advancing Volume did not... READ MORE
A Shows Strong Upside Volume. DELL Shows Relative Strength in June. INTC Returns to the Monster Gap. Plus BA, MMM, ORCL, 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 otherwise)... READ MORE
After breaking support with rather high volume the last three days, Apple (AAPL) formed a hammer candlestick that dipped below 315 intraday. The stock still has a gap to contend with and needs to fill this gap to confirm the hammer. You can find more hammers on the predefined scan... READ MORE
The Greek tragedy continues to drive the markets, and for good reason. EU leaders failed to come up with a definitive plan and the Greek parliament is set for a no confidence vote Tuesday. Should the Papandreou government survive this vote, another round of reforms will be pushed through and... READ MORE
The Energy SPDR (XLE) has been one of the weakest sectors this month. In fact, the chart shows XLE breaking support from a large Head-and-Shoulders reversal pattern. The left shoulder peaked in March, the head peaked in April and the left shoulder peaked at the end of May. With a... READ MORE
The Home Construction iShares (ITB) and the Finance SPDR (XLF) have been moving together the entire year. The indicator window shows XLF in black and ITB in red. Not much difference between these two price patterns. In the main window, ITB is testing support from broken resistance and the 50-62%... READ MORE
Believe it or not, there was only one downgrade to the indicator summary this week. The AD Volume Lines for the Nasdaq and NYSE broke below their March lows. Admittedly, these indicators barely broke their March lows with Wednesday's sharp decline. This could be an overshoot based on... READ MORE
Stocks remain way oversold and ripe for a bounce in the coming days. On the daily charts, the S&P 500 ETF (SPY) and Russell 2000 ETF (IWM) formed spinning top candlesticks as both test support from the March lows. QQQ is also testing support here. Spinning tops signal... READ MORE
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