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WAL-MART JUMPS TO RECORD HIGH -- RETAIL ETFS HAVE BENEFITED FROM PLUNGE IN CRUDE OIL -- LOWER END RETAILERS LIKE COSTCO, TJX, AND TARGET HAVE LED RALLY -- HIGHER END RETAILERS LIKE TIFFANY HAVE LAGGED BEHIND -- MACY'S HAS STRONG WEEK
by John Murphy,
Chief Technical Analyst, StockCharts.com
WAL-MART SHARES EXPLODE... Chart 1 shows Wal Mart surging 4% today to break out to a record high. That's a pleasant change for the world's largest retailer which has hardly been a market leaders. The WMT/SPX relative strength ratio (above chart) is just starting to...
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SHANGHAI-HONG KONG STOCK CONNECT PROGRAM IS SET TO START NEXT MONDAY -- ITS APRIL ANNOUNCEMENT IS THE MAIN REASON SHANGHAI STOCKS HAVE BEEN GAINING ON HONG KONG -- SHANGHAI STOCK INDEX TOUCHES THREE-YEAR HIGH AND IS STARTING TO GAIN ON REST OF THE WORLD
by John Murphy,
Chief Technical Analyst, StockCharts.com
FOREIGNERS WILL BE ABLE TO BUY SHANGHAI STOCKS ... Starting next Monday, foreign investors will be able for the first time to buy and sell stocks listed on the Shanghai Stock Exchange via the Hong Kong Stock Exchange. More than 500 mainland stocks (previously unavailable to foreign investors) will be traded...
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IJR AND QQQ WORK THEIR WAY HIGHER -- BREADTH INDICATORS IMPROVE FOR THE MATERIALS SECTOR -- RETAIL SPDR HITS NEW HIGH AHEAD OF KEY REPORT -- MARKETVECTORS RETAIL ETF SHOWS RELATIVE STRENGTH -- A MIXED BAG FOR APPAREL RETAILERS
by John Murphy,
Chief Technical Analyst, StockCharts.com
IJR AND QQQ WORK THEIR WAY HIGHER... Link for today's video. Last week I featured the S&P SmallCap iShares (IJR) and the Nasdaq 100 ETF (QQQ) because both were holding their gaps and consolidating. After strong buying pressure and a big surge, buying pressure and selling...
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HOME CONSTRUCTION ISHARES MAKES A BREAK -- SHANGHAI COMP SURGES TO NEW HIGH -- CHINA AND JAPAN SHOW RELATIVE STRENGTH -- CHINA INDUSTRIALS LEADS ETF GROUP -- CHINA CONSUMER ETF FIRMS AT KEY LEVEL -- COPPER HITS SUPPORT ZONE AGAIN
by John Murphy,
Chief Technical Analyst, StockCharts.com
HOME CONSTRUCTION ISHARES MAKES A BREAK... Link for today's video. Chart 1 shows the Home Construction iShares (ITB) reversing an eight month downtrend with a surge above its August-September highs. This is the first higher high of 2014. Notice that this is a weekly chart extending back two...
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IJR AND QQQ CONSOLIDATE AFTER GAPS -- THE NEW HIGH PARADE -- LARGE-CAPS LEAD MARKET WITH NEW HIGHS -- SPX AND NDX BREADTH HELD UP THE BEST IN OCTOBER -- SPX AND NDX LEAD EXPANSION OF NEW HIGHS -- THE FIVE STRONGEST SMALL-CAP SECTORS
by John Murphy,
Chief Technical Analyst, StockCharts.com
IJR AND QQQ CONSOLIDATE AFTER GAPS... Link for today's video. The S&P SmallCap iShares (IJR) and the Nasdaq 100 ETF (QQQ) gapped up on Friday and held these gaps all week. Even though these ETFs stalled and did not continue higher, the gaps are holding and...
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POWERSHARES DOLLAR BULLISH ETF BREAKS OUT TO THE UPSIDE -- DOLLAR RALLY IS SUPPORTED BY WIDE PREMIUM OF U.S. BOND YIELDS OVER FOREIGN YIELDS -- STRONGER DOLLAR FAVORS U.S. OVER FOREIGN STOCKS -- EMERGING CURRENCIES TEST MAJOR SUPPORT
by John Murphy,
Chief Technical Analyst, StockCharts.com
POWERSHARES U.S. DOLLAR BULLISH ETF BREAKS OUT TO THE UPSIDE ... The U.S. dollar rally continues. The line on top of Chart 1 shows the U.S. Dollar Cash Index (USD) trading at the highest level in four years. The main chart shows the PowerShares US Dollar Bullish ETF...
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CONSUMER DISCRETIONARY SECTOR WEIGHS ON STOCKS -- WATCHING THE UPSWINGS IN XRT AND ITB -- SMALL-CAP TECH ETF HITS NEW HIGH -- LIGHT CRUDE, BRENT AND GASOLINE BREAK DOWN -- CONSOLIDATIONS END FOR ENERGY-RELATED ETFS
by John Murphy,
Chief Technical Analyst, StockCharts.com
CONSUMER DISCRETIONARY SECTOR WEIGHS ON STOCKS... Link for today's video. The consumer discretionary led the market in 2013, but has lagged the market this year and the price relative just broke to a new low. Chart 1 shows the Consumer Discretionary SPDR (XLY) peaking just below the early...
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HIGH-LOW PERCENT SURGES ACROSS THE BOARD -- FINANCE SECTOR LEADS OFFENSIVE SECTOR BREADTH -- MATERIALS AND ENERGY SHOW WEAKEST BREADTH -- CRUDE OIL CONSOLIDATION EVOLVES -- GASOLINE SLIGHTLY OUTPERFORMS CRUDE -- PALLADIUM HOLDS UP BETTER THAN GOLD
by John Murphy,
Chief Technical Analyst, StockCharts.com
HIGH-LOW PERCENT SURGES ACROSS THE BOARD... Link for today's video. Chartists can use High-Low Percent to measure participation in a market move and compare the degree of participation. High-Low Percent equals the difference between 52-week highs and new 52-week lows divided by the total number of stocks in...
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Japan Announces Big Jump in Asset Buying
by John Murphy,
Chief Technical Analyst, StockCharts.com
Japanese authorities surprised everyone on Friday by increasing their already aggressive bond purchases (QE) by a third. In addition, it will expand those purchases to include stocks and real estate investments. The Japanese pension fund also announced that it will increase its allocation to domestic and foreign stocks. That gave...
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BIG MOVE BY JAPAN PUSHES GLOBAL STOCKS SHARPLY HIGHER -- THE PLUNGING YEN PUSHES JAPANESE STOCKS TO SEVEN-YEAR HIGH -- DOW RECORD HIGH CONFIRMS TRANSPORTATION BREAKOUT -- S&P 500 HITS RECORD CLOSE AS SMALL CAPS JUMP
by John Murphy,
Chief Technical Analyst, StockCharts.com
JAPAN ANNOUNCES BIG JUMP IN ASSET BUYING... Japanese authorities surprised everyone on Friday by increasing their already aggressive bond purchases (QE) by a third. In addition, it will expand those purchases to include stocks and real estate investments. The Japanese pension fund also announced that it will increase its allocation...
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S&P 500 RECLAIMS 2K -- SMALL-CAPS RIP HIGHER -- SEASONALITY FAVORS SMALL-CAPS (LIVE DEMO) -- SHORT-TERM TREASURY YIELDS SURGE -- FINANCE SECTOR LEADS WITH NEW HIGH -- PUTTING RECENTLY VOLATILITY INTO PERSPECTIVE
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 RECLAIMS 2K... Link for today's video. Stocks may be short-term overbought and some of the indices may be near their prior highs, but the trends are up and the breadth indicators are bullish. These short-term overbought conditions could give way to a pullback or...
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MARKET INDEXES BREAK MORE RESISTANCE BARRIERS -- SMALLER STOCKS SHOW RELATIVE STRENGTH -- BREADTH FIGURES ALSO SHOW IMPROVEMENT -- BUT DEFENSIVE STOCKS STILL SHOW MARKET LEADERSHIP -- TREASURIES SLIDE AS HIGH YIELD BONDS JUMP
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 HITS NEW OCTOBER HIGH ... The S&P 500 reflects continued improvement in the stock market's short-term trend. The daily bars in Chart 1 show the SPX climbing above its 50-day moving average (blue line) and chart resistance at its early October intra-day peak...
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VIX TRIGGERS THIRD SIGNAL OF 2014 -- KRE AND IWM CHALLENGE ANOTHER SUPPORT BREAK -- SOME REFINERS SHOW RELATIVE STRENGTH WITHIN ENERGY SECTOR -- TESORO AND PHILLIPS BOUNCE OFF KEY RETRACEMENTS -- REFINERS ON THE RELATIVE ROTATION GRAPH
by John Murphy,
Chief Technical Analyst, StockCharts.com
VIX TRIGGERS THIRD SIGNAL OF 2014... Link for today's video. The S&P 500 Volatility Index ($VIX) is largely a coincident indicator that rises when the S&P 500 falls and falls when the S&P 500 rises. As with the S&P 500,...
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CONSUMER STAPLES AND UTILITIES SPDRS SURGE TO NEW HIGHS -- OIL ETFS BREAK PENNANT LINES -- XOP AND XES FOLLOW OIL LOWER -- INITIAL CLAIMS AND INDUSTRIAL PRODUCTION FAVOR LESS QE -- TIP SHOWS INFLATIONARY PRESSURES DECREASING
by John Murphy,
Chief Technical Analyst, StockCharts.com
CONSUMER STAPLES AND UTILITIES SPDRS SURGE TO NEW HIGHS... Link for today's video. The defensive sectors took the lead on Monday with the Consumer Staples SPDR (XLP) and the Utilities SPDR (XLU) hitting fresh 52-week highs. Relative strength and upside leadership in these two sectors shows a preference...
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THE KEY TO THE UPSWING IN IWM -- RAFF REGRESSION CHANNEL DEMO -- BREADTH THRUST IS BULLISH UNTIL IT ISN'T -- ELEMENTS OF RISK AVERSION REMAIN -- MEDICAL DEVICES ETF CHALLENGES PRIOR HIGHS -- OIL AND GASOLINE CONSOLIDATE WITHIN DOWNTRENDS
by John Murphy,
Chief Technical Analyst, StockCharts.com
THE KEY TO THE UPSWING IN IWM (RAFF REGRESSION CHANNEL DEMO)... Link for today's video. Chart 1 shows the Russell 2000 iShares (IWM) with Raff Regression Channels marking the swings over the last six months. The overall trend is down because the ETF formed a lower high in...
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MARKET RALLY CONTINUES -- RAILS LEAD TRANSPORTS HIGHER -- MMM LEADS INDUSTRIAL SPDR ABOVE 50-DAY LINE -- SMALL CAPS ALSO IMPROVE -- DIVIDEND PAYERS ATTRACT BUYERS ON FALLING BOND YIELDS -- VIX PLUNGES BACK BELOW 20 -- OVERSOLD FOREIGN SHARES REBOUND
by John Murphy,
Chief Technical Analyst, StockCharts.com
RAILS LEAD TRANSPORTS HIGHER ... Not only are stocks extending their recent rally with a strong day, they're being led higher by economically-sensitive groups like transports. The daily bars in Chart 1 show the Dow Jones Transportation Average trading 2% higher today and trading above its 50-day moving average....
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MEASURING RISK APPETITE WITH MICRO-CAPS -- RUSSELL 2000 ISHARES RE-CAPTURES ONE BREAK -- CONSUMER DISCRETIONARY AND INDUSTRIALS SECTORS LEAD THE REBOUND -- ITB FORMS A BIG REVERSAL ON BIG VOLUME -- OIL SERVICE ETF FIRMS AFTER SELLING CLIMAX
by John Murphy,
Chief Technical Analyst, StockCharts.com
MEASURING MICRO-CAPS FOR RISK APPETITE... Link for today's video. The Russell Micro-Cap iShares (IWC) is an important ETF to watch because it represents the appetite for the riskiest stocks in the market. Small-cap stocks are deemed riskier than large-caps and micro-cap stocks are deemed riskier than small-caps. Micro-caps...
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SPY GETS STUCK BETWEEN A GAP AND A HARD PLACE -- FALLING YIELD CURVE WEIGHS ON REGIONAL BANKS -- RETAILER SPDR STRUGGLES TO STAY POSITIVE -- TWO DISCOUNTERS SHOW RELATIVE STRENGTH -- WATCHING MACY'S AND NORDSTROM FOR CLUES
by John Murphy,
Chief Technical Analyst, StockCharts.com
SPY GETS STUCK BETWEEN A GAP AND A HARD PLACE... Link for today's video. Chart 1 shows the S&P 500 SPDR (SPY) forging a short-term reversal last week. Notice how the ETF gapped below 187 on Wednesday, stalled for two days and then gapped above 187...
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CRB Index is Testing Major Support
by John Murphy,
Chief Technical Analyst, StockCharts.com
Today's message takes a look at commodity prices because they've been the focus of a lot of attention of late. That's because falling commodity prices are deflationary in nature, which is something central bankers are trying to stop. The weekly bars in Chart 1...
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CRB INDEX TESTS MAJOR SUPPORT -- BOND SURGE SHOWS EXHAUSTION -- JUMP IN HIGH YIELD BONDS IS ENCOURAGING -- S&P 500 BOUNCES FROM OVERSOLD CONDITION -- BUT MORE TESTING MAY BE NEEDED -- SMALL CAP RALLY FADES ON FRIDAY
by John Murphy,
Chief Technical Analyst, StockCharts.com
CRB INDEX IS TESTING MAJOR SUPPORT... I'm starting today's message with a look at commodity prices because they've been the focus of a lot of attention of late. That's because falling commodity prices are deflationary in nature, which is something central bankers...
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S&P 500 HITS LONG VOLUME-BY-PRICE BAR -- S&P MIDCAP 400 FULFILLS DOUBLE TOP TARGET -- SMALL-CAP PRICE RELATIVE BOUNCES -- SECTOR ROTATIONS FAVOR DEFENSIVE SECTORS -- TWO SMALL-CAP SECTORS TO WATCH -- PLUNGE IN SHORT-TERM RATES SHOWS FLIGHT TO SAFETY
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 HITS LONG VOLUME-BY-PRICE BAR... On an intraday basis, the S&P 500 fell around 10% from its summer high to the mid October low. Even though a 10% decline may seem drastic, it still pales relative to the 50% advance from the November 2012 low...
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FOREIGN WEAKNESS FINALLY HITS U.S. STOCKS -- RISING VIX IS AT THREE-YEAR HIGH AND MAY HAVE FURTHER TO GO -- S&P 500 MAY RETEST ITS FEBRUARY LOW -- FOUR YEAR LOW IN BRENT CRUDE PULLS GERMAN BOND YIELD TO NEW RECORD LOW
by John Murphy,
Chief Technical Analyst, StockCharts.com
FOREIGN WEAKNESS FINALLY HITS THE U.S.... It took awhile for it to happen, but tumbling foreign markets have finally pulled the U.S. market into a downside correction. The three lines in Chart 1 tell the story. The blue line shows EAFE iShares (EFA) peaking at the start of...
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S&P 500 BREAKS KEY MOVING AVERAGE -- GOOGLE BREAKS DOWN AS APPLE HOLDS STRONG -- PLAYING THE SWINGS IN KRE AND IWC -- DECEMBER NATURAL GAS TESTS KEY LEVEL -- ENERGY-RELATED ETFS ARE THE MOST OVERSOLD -- COFFEE ETF CHALLENGES PRIOR HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 BREAKS KEY MOVING AVERAGE ... Link for today's video. The S&P 500 is not in uncharted territory, but it is in territory we have not seen in some time. Chart 1 shows the index breaking below its 200-day moving average, breaking its prior...
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FOUR WAYS TO MEASURE RELATIVE PERFORMANCE -- UTILITIES SECTOR MAINTAINS WEDGE BREAKOUT -- SMALL FINANCIALS SHOW RELATIVE STRENGTH -- FINDING SECTORS THAT POINT NORTHEAST -- AVOIDING SECTORS THAT POINT SOUTHWEST
by John Murphy,
Chief Technical Analyst, StockCharts.com
SPX TESTS A KEY MOVING AVERAGE... Link for today's video. Selling pressure and volatility have dominated October, but some sectors and industry groups are holding up better than others. How can we find the strong groups and avoid the weak? The next few charts will show four methods...
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MARKETS REMAIN IN RISK-OFF MODE -- S&P 500 MOVES TOWARDS SUPPORT -- MID-CAPS BREAK SUPPORT -- SMALL-CAPS CONTINUE TO LAG -- INDUSTRIALS SPDR BREAKS KEY LEVEL -- CONSUMER DISCRETIONARY SPDR TESTS KEY LEVEL -- TECH AND FINANCE SPDRS ARE HOLDING UP THE BEST
by John Murphy,
Chief Technical Analyst, StockCharts.com
MARKETS REMAIN IN RISK-OFF MODE... Link for today's video. The markets continue to shun risk and embrace safety, which means the markets are in risk-off mode. There are several metrics to we can use for this assessment. First, small-caps have broken down and are underperforming large-caps. The S&...
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QQQ AND SPY TEST THEIR GAPS -- SMALL AND MICRO CAP ETFS FILL THEIR GAPS -- SECTOR PERFORMANCE REFLECTS DEFENSIVE MARKET -- DOLLAR AND TREASURIES ARE IN RISK OFF MODE -- 20+ YR T-BOND ETF CHALLENGES AUGUST HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
QQQ AND SPY TEST THEIR GAPS ... Link for today's video. The S&P 500 SPDR (SPY) and Nasdaq 100 ETF (QQQ) forged intraday reversals last Thursday and followed up with gaps on Friday, but the bulls are getting cold feet already because both fell back into their...
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SEASONAL PATTERNS START TO GET INTERESTING -- LOOKING AT SMALL-CAP PERFORMANCE FOR YEAREND -- SEASONAL PATTERNS STAND OUT FOR THREE SECTORS -- NATURAL GAS TESTS SUPPORT AGAIN -- AIRLINE INDEX BOUNCES OFF SUPPORT -- DELTA AND UNITED LEAD AIRLINES
by John Murphy,
Chief Technical Analyst, StockCharts.com
SEASONAL PATTERNS START TO GET INTERESTING... Link for today's video. StockCharts users can analyze seasonal patterns using the Seasonality Tool. This tool creates a histogram chart showing the percentage of times a security gained and the average gain/loss overall. Before getting into the current seasonal patterns, note...
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Small Cap Head and Shoulders Top?
by John Murphy,
Chief Technical Analyst, StockCharts.com
A debate is going on within the technical community as to whether or not the Russell 2000 Small Cap Index is in danger of completing a "head and shoulders top". A case can certainly made for it, although it would be an unusual one. The daily bars in...
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S&P 500 MAINTAINS ITS LONG-TERM UPTREND -- CONSUMER DISCRETIONARY SECTOR ETFS TESTS KEY LEVEL -- MACY'S, NORDSTROM AND TJX LEAD RETAILERS HIGHER -- WHEN IS OVERSOLD REALLY OVERSOLD? -- USING PPO AND RSI FOR TO DEFINE OVERSOLD
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 MAINTAINS ITS LONG-TERM UPTREND... Link for today's video. Even though the S&P Small-Cap 600 and S&P MidCap 400 are underperforming and have stalled for several months, the S&P 500 remains in a clear uptrend and over 50 points...
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SMALL CAPS TEST NECKLINE OF POSSIBLE H&S TOP -- MIDCAP INDEX IS IN DANGER OF BREAKING AUGUST LOW -- SO IS THE NYSE COMPOSITE INDEX -- THE U.S. IS BEING LED LOWER BY FOREIGN SHARES -- THE DOLLAR RALLY MAY BE JUST STARTING
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL CAP HEAD AND SHOULDERS TOP?... A debate is going on within the technical community as to whether or not the Russell 2000 Small Cap Index is in danger of completing a "head and shoulders top". A case can certainly made for it, although it would be an...
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SMALL CAPS BREAK SUPPORT -- MIDCAPS MAY BE NEXT -- DOW AND S&P 500 BREAK 50-DAY AVERAGES -- AIRLINES LEAD TRANSPORTS LOWER AS UTILITIES RALLY WITH BONDS -- EMERGING BONDS FALL ON RISING DOLLAR
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL CAPS FALL BELOW AUGUST LOW -- MIDCAPS MAY BE NEXT... Arthur Hill and myself have been warning of a potential breakdown in smaller stocks, and the potential damage that could do to the rest of the stock market. That situation has gotten even worse. Chart 1 shows the Russell...
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UTILITIES SECTOR RETURNS TO THE LEADERBOARD -- APPLE, AT&T AND VERIZON HOLD STRONG -- SCANNING FOR RELATIVE STRENGTH -- BOEING, BERRY, CALLIDUS AND VEECO MAKE THE CUT -- WHEN TO SELL OR EXIT A POSITION
by John Murphy,
Chief Technical Analyst, StockCharts.com
UTILITIES SECTOR RETURNS TO THE LEADERBOARD... Link for today's video. The Utilities SPDR (XLU) is leading the market over the last two days and its StockCharts Technical Rank (SCTR) is improving. Chart 1 shows XLU trading flat since April as it oscillated around the 42 level for several...
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DIA AND QQQ HOLD UP THE BEST -- RUSSELL 2000 VALUE UNDERPERFORMS GROWTH -- BIG BANKS LEAD, BUT REGIONAL BANKS LAG -- BIOTECHS REFUSE TO BUCKLE
by John Murphy,
Chief Technical Analyst, StockCharts.com
DIA AND QQQ HOLD UP THE BEST... Link for today's video. Most of the major index ETFs broke below their mid September lows with sharp declines last week, but the Dow Diamonds (DIA) and the Nasdaq 100 ETF (QQQ) held these lows and show relative strength. The Dow...
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HOW FAR CAN THE S&P 500 CORRECT? -- NOTHING BULLISH ON SMALL-CAP CHART -- MID-CAPS REMAIN IN THE MIDDLE -- 20+ YR T-BOND ETF BOUNCES OF KEY RETRACEMENT -- COMPARING THE 2011 DOLLAR SHOCK WITH 2014 (PERFCHART DEMO) -- OIL FIRMS WITHIN DOWNTREND
by John Murphy,
Chief Technical Analyst, StockCharts.com
HOW FAR CAN THE S&P 500 CORRECT?... Link for today's video. The S&P 500 is down less than 3% from its all time high and still in a long-term uptrend. Even though this week's decline could extend, it would take a lot...
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GLOBAL STOCKS SELL OFF IN RISING VOLUME -- A LOT OF MOVING AVERAGES HAVE BEEN BROKEN -- HIGH YIELD BOND ETF BREAKS 200-DAY LINE -- FOREIGN STOCKS FALL AS WELL -- A RISING DOLLAR IS HURTING EMERGING MARKET CURRENCIES AND STOCKS
by John Murphy,
Chief Technical Analyst, StockCharts.com
NASDAQ AND S&P 500 BREAK 50-DAY LINES... Chart 1 shows the S&P 500 SPDRS closing below its 50-day line today in heavy trading. That's a negative combination. Chart 2 shows the Nasdaq Composite Index doing the same. Their daily MACD lines remain decidedly negative....
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FOREIGN STOCK ETFS ARE TESTING MAJOR OVERHEAD RESISTANCE BARRIERS WHICH COULD THREATEN GLOBAL RALLY -- THE % NYSE STOCKS ABOVE 200-DAY AVERAGE HAS FALLEN TO 2014 LOW -- SMALL CAP RELATIVE WEAKNESS IS WORST IN THREE YEARS
by John Murphy,
Chief Technical Analyst, StockCharts.com
THE STOCK RALLY IS GETTING NARROWER... Arthur Hill wrote about the negative divergence between small and micap stocks relative to large cap stocks. Let's put that in some perspective. Chart 1 shows that the three stock categories have been rising together since the 2009 bottom (as they usually...
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SCANNING FOR PULLBACKS WITHIN AN UPTREND (LIVE DEMO) -- BIOGEN IDEC BOUNCES OFF SUPPORT -- CVR REFINING FIRMS IN FIBONACCI CLUSTER ZONE -- QLYS AND MON ALSO MAKE THE SCAN CUT -- FRENCH, GERMAN AND UK STOCKS MOVE SHARPLY LOWER
by John Murphy,
Chief Technical Analyst, StockCharts.com
SCANNING FOR PULLBACKS WITHIN AN UPTREND... Link for today's video. As noted on Monday, stocks have weakened this month with small-caps leading the way lower. However, with most of the major indices hitting new highs recently, I still classify these declines as corrections within a bigger uptrend. I...
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SMALL-CAPS CONTINUE TO UNDERPERFORM -- MID-CAPS AND MICRO-CAPS ALSO LAG LARGE-CAPS -- THREE MOMENTUM ETFS BREAK LOWER BOLLINGER BANDS -- WATCHING THE BREAKOUTS IN FINANCE AND INDUSTRIALS -- STEEL STOCKS LEAD METALS AND MINING ETF LOWER
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL-CAPS CONTINUE TO UNDERPERFORM... Link for today's video. September continues to be a rough month for mid-caps, small-caps, micro-caps and some of the high-beta groups. Overall, we have a bifurcated market with relative strength in large-caps and relative weakness in the other caps. Don't forget that...
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Rising Rates Help Insurance Portfolios
by John Murphy,
Chief Technical Analyst, StockCharts.com
Financial stocks are starting to show upside leadership at the same time that bond yields are starting to rise. Banks usually benefit from rising bond yields because they can charge higher rates for their loans. Two other financial groups have actually done better than banks this week. They include investment...
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SETTING A YEAREND TARGET FOR THE S&P 500 -- SMALL AND MID-CAP INDICES HOLD THEIR CHANNELS -- SEASONAL EVIDENCE FOR THE JANUARY EFFECT -- NAT GAS CONSOLIDATES WITHIN DOWNTREND -- FIRSTTRUST NATURAL GAS ETF HITS SUPPORT ZONE
by John Murphy,
Chief Technical Analyst, StockCharts.com
SETTING A YEAREND TARGET FOR THE S&P 500... Link for today's video. The S&P 500, S&P MidCap 400 and S&P Small-Cap 600 are all in uptrends, and the S&P 500 remains the clear leader. Even though one can...
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