Editor's Note: This article was originally published in Martin Pring's Market Roundup on Tuesday, July 16th at 1:24pm ET. When we get to longer-dated securities, that's where I start to question if yields are likely to move much lower. Let’s start with... READ MORE
* Money Market Yields Continue to Look Vulnerable * The 5-Year Yield is in a Secular Uptrend * Longer-Dated Maturities Overstretched on the Downside Money Market Yields Continue to Look Vulnerable Everybody and their dog thinks that short-term rates will be cut by the Fed later this month. Count me in with the... READ MORE
Market Tentatively Triggers a Long-Term Buy Signal Chart 1 features a Coppock indicator for the NYSE Composite, which triggers buy signals by reversing to the upside from a position at or below the equilibrium level. Since 1970, there have been thirteen such signals and only one failure (in 2002). That&... READ MORE
The monthly Market Roundup video for July is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Tuesday, July 2nd at 12:36pm ET. Back in May, I wrote an article entitled “Commodities: Down Now, Up Later?" in which I pointed out some of the long-term technical bullish potential... READ MORE
* CRB Still Caught in a Trading Range * Commodity/Bond Ratio Holding On By its Teeth * Watch the Canadian Dollar for Clues CRB Still Caught in a Trading Range Back in May, I wrote an article entitled “Commodities: Down Now, Up Later?" in which I pointed out some of the... READ MORE
* A Weaker Dollar is Bullish for Gold * The Gold 6/15 PPO Model for Gold is Bullish * Global Gold is Breaking Out * Gold Shares Showing Signs of Strength * Gold Special K Crossed its Bear Market Trend Line Last week, Gold experienced an upside breakout from a multi-year base. I always... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Tuesday, June 18th at 2:30pm ET. Several reliable short-term oscillators have just turned bullish. Chart 5, for instance, features my Dow Diffusion Indicator. This one is similar to the Global Oscillator, but... READ MORE
* US Breaking Out Against the World * The World Itself Looks to be in Pretty Good Technical Shape * NYSE A/D and Upside/Downside Lines at Record Levels * More Short-Term US Market Indicators Turn Bullish * Multiple Momentum Trend Line Breaks is Very Positive * There Is Always Something to Worry About US... READ MORE
* Financial Velocity Indicator Poised to Go Bullish * Oversold NASDAQ Volume in a Position to Support a Rally * Rapid Expansion of Net New Highs is Bullish * Global Breadth Turning? * When Stock Exchanges Break to the Upside, That’s Usually Bullish for Stocks Financial Velocity Indicator Poised to Go Bullish One of... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Tuesday, June 4th at 2:57pm ET. From a long-term aspect, Gold looks as though it is in the process of duplicating its action at the turn of the century by forming a... READ MORE
The monthly Market Roundup video for June is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
* Long-Term Picture Shows Gold Close to a Breakout * The Shares Are on the Cusp As Well * Short-Term Indicators for Gold Go Bullish * Yen Emerging From a Breakout I like to use an indicator that I call “Risk On Risk Off,” which combines an index comprising several risky entities with another... READ MORE
* Flight to Safety Leaves Stocks Behind * S&P vs. Gold is Another Measure of Confidence That’s Deteriorating * High-Quality Bonds Like Deteriorating Confidence * A Rising Gold/Commodity Ratio is Actually Bearish for Commodities Flight to Safety Leaves Stocks Behind Last week, I wrote that it was nail-biting time for... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Friday, May 24th at 4:42pm ET. This week has seen many interest rate series, both in the US and around the world, breaking down from important trading ranges or reaffirming previous breaks.... READ MORE
* Current Trend of Declining Rates Seen as Part of a Large Base * Downside Breakouts in Yields are Worldwide in Scope * US Short-Rates Look Vulnerable as Well * 30-Year Yield Completes a Top * Stocks and Commodities versus Bonds Current Trend of Declining Rates Seen as Part of a Large Base This week... READ MORE
* Top or Consolidation for Equities? * Agricultural Commodities Perking Up Following a Severe Sell-Off * Grains Fully Supporting Price Action in the DBA Top or Consolidation for Equities? The S&P, like the other market averages, has been in a trading range since March. We will have to see how it... READ MORE
* Gold Breaks Out against Stocks * Gold Itself is about to Test Mega-Resistance * When Gold Beats Stocks, that’s usually Bullish for Gold - and Bearish for Stocks * Gold Leads Commodities Gold Breaks Out against Stocks Monday saw the gold/stock ratio break decisively above its 2019 downtrend line. The line... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Wednesday, May 8th at 6:37pm ET. One area I monitor daily is the technical picture of bond spreads and other market relationships that reflect confidence. That’s because changes in their direction... READ MORE
* Long-Term Divergences * Some Short-Term Technical Sell Signals Triggered in the Last Few Days * Prices May Be Falling, But Bond Spreads (Confidence) are Holding in There Long-Term Divergences My first reaction to this week’s stock market tantrum (in response to the China trade talks) was to brush it off as... READ MORE
* Two Key Commodity Benchmarks Violated Trend Lines * Commodity Sector ETFs Breaking as Well * Longer-Term Picture May be Reversing In early April, I tacked on a couple of commodity charts at the end of an article that commented on global equities breaking out. There, I noticed that some commodity indexes were... READ MORE
Here is the link to this month's Market Roundup video. There are a significant number of long-term charts that are starting to turn higher suggesting, that the brief economic slowdown in late 2018 is behind us and we are starting the next major leg higher. Market Roundup with... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Wednesday, April 24th at 7:03pm ET. Yesterday’s all-time new high in the S&P was well documented by the media, but what did not receive any attention was the fact... READ MORE
* The SPY/EFA Ratio Completes an Inverse Head-and-Shoulders * SPY/EFA Breakout also Bullish for the Dollar * The Euro, Swiss Franc and Yen * China Bucks the Flow The SPY/EFA Ratio Completes an Inverse Head-and-Shoulders Yesterday’s all-time new high in the S&P was well documented by the media,... READ MORE
* The Long-Term Picture Looks Positive * Gold’s Tuesday Downside Breakout Could Be the Spoiler * Platinum is Trying to Break Out Against Gold - Why That’s Important for the Economy The Long-Term Picture Looks Positive Over the last 6 years, it appears that the gold price has been trying to... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Tuesday, April 9th at 1:08pm ET. Global stocks, represented in the form of the MSCI World Stock ETF (ACWI), peaked in January of last year and gradually worked their way lower into... READ MORE
* Global Stocks Join Global A/D Line Above Key Trend Lines * Bitcoin Looking Better After an 80% Drop * Inflation vs. Deflation Global Stocks Join Global A/D Line Above Key Trend Lines Global stocks, represented in the form of the MSCI World Stock ETF (ACWI), peaked in January of last... READ MORE
* S&P Relative Action Edging Through Resistance * British Pound Going Wobbly Before Brexit? * Mega Buy Signal Could be in Store for the Shanghai Composite * Gold at a Momentum Downtrend Line as Well S&P Relative Action Edging Through Resistance We have all heard about the US economy being... READ MORE
The monthly Market Roundup video for April is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
* Long-Term Picture Remains Finely Balanced * Short-Term Indicators Still Showing Weakness * Confidence is Starting to Erode Again * Financials Break Down from a Broadening Wedge Earlier in the month, I wrote about the Ides of March and the fact that the market looked overstretched, apparently in need of some mean reversal corrective... READ MORE
* Deflation Index Leading the Market Higher * Inflation/Deflation Ratio Starting to Break in a Deflationary Direction * Several Deflation-Sensitive Industry Groups Looking Stronger Deflation Index Leading the Market Higher Last week, I wrote about the possibility of an upside price move in the bond market. So far, most areas remain below... READ MORE
* Adjusted vs. Unadjusted Prices * Bonds Reflect the Fine Current Balance Between Inflationary and Deflationary Forces Adjusted vs. Unadjusted Prices Chart 1 shows that the iShares 20-year Trust ETF, the TLT, has been in a trading range since late 2014. Currently, the price is above its 12-month MA and the long-term... READ MORE
* Dollar Diffusion Gives a Buy Signal * Differential Interest Rates Turn Bullish for the Dollar * $NYA and $COMPQ Drop Below Their 200-Day MAs One would think that a record trade deficit would be bearish for the dollar. However, the market does not agree, as the Invesco Bullish Dollar ETF (UUP) just... READ MORE
* Strong Broadly-Based Rally * NYSE Declining Peaks and Troughs Still in Force * Several Short-Term Indicators Starting to Point South Strong Broadly-Based Rally The rally dating from Christmas Eve has been a powerful one, generating an approximate 20% gain from its low. It has also been broad, not only enabling the NYSE... READ MORE
* Shanghai Composite Secular Uptrend Line is Still Intact * If China Rallies, Will It Take Commodities Along for the Ride? * China vs. Hong Kong * Chinese ETFs Experiencing a Reversal Shanghai Composite Secular Uptrend Line is Still Intact Chart 1 features a really important benchmark for the Shanghai Composite - a secular... READ MORE
* Superior Breadth Over Price Does Not Always Have a Positive Outcome * Weighted versus Equal Weight Chart 1 shows that the NYSE A/D Line touched a new high last week and seems to be leading the S&P higher. The textbooks tell us that a broad advance, such as... READ MORE
* Dollar About to Break New Ground? * Euro Starting to Break Down * Swiss Franc at a Major Juncture Point * The Fortunes of the Canadian, Australian and EM Currencies are Tied to Commodities Dollar About to Break New Ground? I last wrote about the dollar at the end of January, pointing out... READ MORE
* Three Major Averages are at their 200-Day MAs * The NYSE Has Been Declining for a Year * Will There Be Another Whipsaw? Today, of course, is the State of the Union Address, but for the markets it might well be the “State of the 200-Day Moving Average,” as that’s the... READ MORE
The Market Roundup Video For February is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion ofPring Turner Capital Groupof Walnut Creek or its affiliates.... READ MORE
* The Long-Term Trend for Commodities Remains Bearish * What the Stock Market is Telling Us About Commodities * Short-Term Picture Not So Strong Recently, we have seen several reports of a weakening economy. These include a sharp drop in both the University of Michigan and Conference Board consumer sentiment and confidence numbers,... READ MORE