Even though Lockheed Martin (LMT) edged higher the last few weeks, both Aroon Up (green) and Aroon (down) moved lower. Also notice that they are parallel and relatively close together. This affirms the consolidation in LMT. The first indicator to move above 50 will trigger the next signal. You can... READ MORE
Stocks are moving in sync with the Euro and commodities, both of which have been falling this month. The Euro is under pressure with concerns over Greek debt. Oil is under pressure because the Dollar is rising and stocks have weakened this month. US Treasuries are attracting money as a... READ MORE
AN Breaks Wedge Support. JPM Breaks Pennant Support. RTN Consolidates after Support Break. Plus CVX, GE,LEN, LMT, TIF See ChartSchool article on Aroon for more details. *********************************************** 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... READ MORE
The London FTSE 100 ($FTSE) found support near its January-February lows over the last few weeks. With a deeper dip in March, an inverse head-and-shoulders pattern is taking shape in 2011. A break above 6100 (neckline) would signal a continuation higher. Click this image for a live chart... READ MORE
There is no change on the daily chart as SPY affirmed support at 133 with a bounce over the last few days. On the 60-minute chart, SPY pulled back rather sharply after the breakout surge last week, but ultimately held support and moved above 135.5 today. The short-term trend... READ MORE
After becoming oversold last week, the DB Commodity Index Fund ($DBC) bounced off support with a long white candlestick. Notice that an inverted hammer formed on Friday as RSI dipped below 30 (oversold). Broken support turns into the first resistance area around 30.50. Click this image for a live... READ MORE
ADBE Breaks Wedge Trendline. CPWR Consolidates after Gap. FISV Forms Pennant after Sharp Decline. AAPL, AMKR, FISV, JBL, SSP, SYK, TIN *********************************************** 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
There is no real change on the daily chart as SPY continues to firm at broken resistance, which turns into support. The ETF formed two spinning tops on Thursday-Friday and a small white candlestick on Monday. The bounce was rather feeble, but support is holding nonetheless. So far the breakout... READ MORE
The Energy SPDR (XLE) is still one of the leading sectors in 2011, but the ETF has started showing relative weakness over the last 30 trading days. The PerfChart below shows XLE as the weakest of the nine sectors since March 25th. All sectors are up, but XLE is down... READ MORE
SPY declined to support and firmed with two spinning tops at the end of the week. These candlesticks have relatively long shadows with a small body. The shadows represent the high and low, while the body represents the open and close. Even though SPY firmed with these spinning tops, we... READ MORE
The Oil Service HOLDRS (OIH) is leading the energy sector lower with a break below the March lows. There are two bearish patterns working on the OIH price chart. First, OIH hit resistance in the 162.5-167.5 area with three reaction highs and then broke below support with a... READ MORE
The bulk of the evidence remains bullish, but there are signs of dissent brewing out there. The bulls control the trends as the major index ETFs hit new highs in April. The AD Volume Lines are also strong and the Net New Highs Lines have yet to break down. Relative... READ MORE
I will wait for Friday's reaction to the employment report before updating the indicator summary. The breadth charts and intermarket charts will also be updated on Saturday morning.... READ MORE
Admittedly, the decline over the last four days has been sharper than expected for a mere pullback. This decline started right after Monday's gap open around 137. On a high to low basis, the ETF moved from 137 to 133 in just four days (almost 3%). And now... READ MORE
With a strong open on Monday and weakness the rest of the week, the S&P 500 ETF (SPY) formed a long black candlestick that engulfed the prior white candlestick. The week is not yet finished because Friday remains. A close below last week's open would forge... READ MORE
The Euro Currency Trust (FXE) hit a new 52-week high Wednesday, but gave it all back with a sharp decline early Thursday. As of 11AM ET Thursday, FXE is down around 2% from Wednesday's high. That's quite a drop. Support, however, is near as the ETF... READ MORE
SPY continued its throwback with a close below 135 and the third down day in a row. This does nothing to change the medium-term trend, which remains up. The gap and flag breakout started it all and the inverse head-and-shoulders breakout forged a new 52-week high. Broken resistance turns into... READ MORE
AAPL Forms Bull Flag after Breakout. KLAC Firms at Fibonacci Retracement. CSCO Traces out Pennant Consolidation. Plus F, FFIV,MSFT,NTAP. *********************************************** 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
After a bounce off support in April, the Finance SPDR (XLF) came under pressure with a hanging man at the end of April and a bearish engulfing at the beginning of May. These two bearish candlesticks affirm resistance from the early May high. It is possible that a falling flag... READ MORE
SPY followed through on Monday's bearish Belt Hold candlestick with a decline on Tuesday. The ETF dipped all the way to 135, but a late afternoon bounce pushed it back to 135.73 by the close. The decline to 135 was not a very deep dip - yet... READ MORE
After going nowhere for two months, Huntington Bancshares (HBAN) is once again battling consolidation resistance. The stock has been stuck between 6.3 and 6.9 since the beginning of March. With the market down sharply on Tuesday, the stock is showing some resilience with a small gain. A break... READ MORE
Despite a strong open and weak close on Monday, the overall picture for SPY remains unchanged. A bearish Belt Hold formed on Monday. These are long black candlesticks that form after an advance. Neckline resistance from the inverse head-and-shoulders breakout turns into the first support zone to watch on any... READ MORE
ACI Forms Bear Wedge. CAKE Gaps Down from Resistance. GCI Breaks Flag Resistance. Plus BSX,LEN and NFLX. ----------------------------------------------------------------------------- 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
After surging in late February, Chesapeake (CHK) worked its way lower with three bearish engulfings and a dark cloud pattern. The April bounce above 33.5 may be stymied as the stock formed another bearish engulfing on Monday. Check out our bearish engulfing scan for more. Click this image for... READ MORE
It is a strange pairing, but stocks and bonds are both in strong uptrends. We can also throw in strong uptrends for gold, oil and the Euro. The Dollar is the one left out in the cold with a strong downtrend. The rally in bonds is a bit perplexing. QE2... READ MORE
Southwest Airlines (LUV) broke support with high volume in late April, but quickly recovered this support break with a surge back above 11.60 the last few days. Despite this quick recovery, signs of indecision are showing with the upper shadows in the candlesticks. There is a resistance zone around... READ MORE
Even though the finance sector remains a laggard, newfound relative strength in technology is picking up the slack. Led by semis, the Nasdaq and the Technology ETF (XLK) surged almost 5% the last seven trading days. Renewed leadership from techs is a positive for the market overall. There is some... READ MORE
There is no change on the daily chart or 60-minute chart as SPY extends after its breakouts. Broken neckline resistance becomes the first support level to watch on the daily chart. Key Economic Reports/Events: Fri - Apr 29 - 08:30 - Personal Income and Spending Fri - Apr... READ MORE
The Dow Industrials, Dow Transports, Dow Utilities and Dow Composite all broke above their March-April highs and recorded 52-week highs this week. From a Dow Theory stand point, the new highs in the Industrials and Transports are especially promising because they affirm the uptrend. Click this image for a live... READ MORE
There is no change on the daily chart. The S&P 500 ETF (SPY) broke above neckline resistance that extends from late February to early April. This is another 52-week high that simply re-affirms the long-term uptrend. Traditionally, broken resistance turns into support. This suggests that the 133-134 area... READ MORE
ASEI Hits Broken Resistance with Wedge. GCI Surges on Big Volume and then Consolidates. PNRA Declines on High Volume. Plus AMCC,IDCC,ISRG,ORLY ----------------------------------------------------------------------------- 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
It all started with the Intel earnings effect five days ago as the Semiconductor HOLDRS (SMH) gapped above 35. After stalling for two days, the ETF continued hiher and is now challenging the February-March highs. Semis are starting to show relative strength again and this bodes well for techs. Click... READ MORE
Please note that Thursday's commentary will be posted a little later in the morning (between 9 and 10AM ET). With a strong open and strong close, the S&P 500 ETF (SPY) broke above neckline resistance that extends from late February to early April. This is another... READ MORE
Is this bounce for real or just another dead-cat bounce? The Amex Airline Index ($XAL) hit the 62% retracement area in mid April and surged above the wedge trendline on Tuesday. Also notice that MACD formed a bullish divergence and moved above its signal line. Things are looking up for... READ MORE
ARO Forms Dark Cloud at Resistance. GE Form Huge Bearish Engulfing. JPM Consolidates at Key Support. Plus APC,IMN,LMT,MSFT,RSH and UIS. ----------------------------------------------------------------------------- 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
It could be a big week for bonds. The Fed meets this week with a policy statement scheduled at 12:30PM ET. This is earlier than normal because Bernanke is holding a press conference later in the afternoon. Jeeze, like we don't have enough excitement already. So now... READ MORE
Even though stocks are up over the last 30 trading days, sector leadership leaves something to be desired. The Finance is badly lagging, while the materials and energy sectors are leading. Also notice that the healthcare and consumer staples show relative strength. Click this image for a live chart... READ MORE
On the daily chart, the S&P 500 ETF (SPY) is tracing out a clear inverse head-and-shoulders pattern over the last 2-3 months. The shoulders feature equal lows around 129.5 and the highs in the 133-134 area mark neckline resistance. Notice how the right shoulder also formed a... READ MORE
The predefined scans page at StockCharts.com is updated throughout the day. Checking just after the open is an easy way to spot early movers, both up and down. The runaway gap-up scan featured over 5 NYSE stocks and 16 Nasdaq stocks at 10:14AM ET. Among these runaway gaps,... READ MORE
The short-term trend is now up with a flag breakout and big gap. On the daily chart, an inverse head-and-shoulders is taking shape now that the right shoulder low has formed a reaction low near the left shoulder low. The neckline resistance zone resides around 133-134, which is where SPY... READ MORE