The Market Roundup Video For November 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
* Key moving averages violated in October * The world peaked in January * What happened to sectors and breadth? * February versus October conclusion * Those pesky bonds Key Moving Averages Violated in October So far, 2018 has seen two sharp shakeouts in the market, specifically the ten-day special in early February and the... READ MORE
* A few observations about the secular trend * Short-term technical position * Junk bonds peak out * Credit spreads argue for lower government yields A Few Observations About the Secular Trend The 5-year yield, shown in Chart 1, has formed and broken out from a major base. It touched a low point in... READ MORE
* Internet bubble * Credit spreads * Rising interest rates * Contagion from abroad On Wednesday, I joined Tom and Erin on MarketWatchers LIVE and enjoyed a spirited discussion on what signs might foreshadow an extension to last week’s decline, or even signal a bear market. The four areas I cited were the... READ MORE
* The big global picture * US equities are violating key trend lines * Financials experience false upside breakout * Energy triggers a false positive * Bubble-prone e-commerce on the verge of being pricked! Last week, I wrote about the possibility of an October “surprise.” I pointed out that such an event is completely random... READ MORE
* The US market viewed from abroad * Resource based sectors in general are under-performing * Defensive sectors are generally improving * Ratio between a late and early performing sector is at a critical juncture Back in August I wrote an article pointing out that we might be in the early stages of a... READ MORE
* Conditions that feed a crash * Rising rates * Emerging markets could be the triggering mechanism * Market breadth not so hot * Is the e-commerce bubble bursting? Conditions that feed a crash October started off as just a continuation of September’s dull price activity. However, knowing that the month of October has... READ MORE
* Dollar Index experiences a false downside breakout * Euro encounters a false upside breakout * Yen completes a bearish multi-year continuation formation * Swiss franc completes a broadening wedge Back in mid-September, I wrote an article where I pointed out that the Dollar was on a knife edge. This view was based on... READ MORE
The Market Roundup Video For October 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 connection between lumber and housing starts * What the homebuilding ETF’s are saying Nonfarm payrolls are an economic series that is widely followed by the investment community. However, it’s a coincident indicator, meaning it tells you what is going on now, not what might happen in the future.... READ MORE
* Long-term dollar technical position * Short-term picture bearish outcome * Short-term picture bullish outcome * Euro * Yen * Swiss franc Long-term dollar technical position I have been primary trend bullish on the dollar for several months. That opinion still stands because the Dollar Index is well above its 12-month MA and its long-term KST... READ MORE
* A few thoughts on bubbles * Technical comments on the Dow Jones Internet Commerce Index * China on the brink A few thoughts on bubbles Last week, I pointed out that most of the FAANG stocks remained in uptrends, with the possible exception of Netflix and the confirmed bear market in Facebook.... READ MORE
* NASDAQ breadth data offers conflicting signals * Bullish FAANG Stocks * De-fanged stock NASDAQ breadth data offering conflicting signals We have seen some attention paid to tech stocks as they have corrected in the last week or so. The so called FAANG (Facebook, Apple, Amazon, Alphabet’s Google and Netflix) have been... READ MORE
The MarketRoundup Video For September 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
* US Equities versus the world * Stocks versus Commodities * Stocks and bonds * Stocks compared to gold There are lots of seasonal reasons to be bearish on the stock market, such as September being the weakest month and mid-term election years having a downward bias. However, if you compare the S&... READ MORE
* The longer-term picture argues for lower yields * Deflationary forces gain the upper hand * Bond yields at crucial short-term support * UK Yields in a life or death struggle The longer-term picture argues for lower yields Earlier in the month I wrote an article pointing out that many bond yields had reached... READ MORE
* Commodities starting to generate some long-term sell signals * Internals and commodity intermarket relationships are deteriorating * Energy has been lagging on the downside but may be ready to play catch up Earlier in the summer I wrote a couple of articles on copper and oil suggesting some short-term vulnerability, but concluding... READ MORE
* Last week's test of the highs leaves a lot to be desired * Breadth and momentum indicators fail to confirm * Some international charts not looking so good Last week's test of the highs leaves a lot to be desired If the charts in this article look a... READ MORE
* The Inflation/Deflation ratio * Lagging sectors * Defensive sectors The Inflation/Deflation ratio Last week I charted my Inflation/deflation ratio for the first time in a while and was surprised to see that it had broken to the downside. For those unfamiliar with the concept, the Inflation Ratio (!PRII) consists... READ MORE
* 3- and 10-year series challenging their secular down trendlines * Three indicators that suggest lower bond yields * The Crunch Chart 3- and 10-year series challenging their secular down trend lines US government bond yields have reached very important resistance, at a time when they are overextended on a long-term momentum basis.... READ MORE
This month, the Market Roundup carries a lot of information about how acute the current market position is in globally. 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... READ MORE
* Tuesday was a Key Reversal Day * Breadth fails to confirm Tuesday’s high * Primary uptrend is intact, but will it be threatened? Tuesday was a Key Reversal Day This week the NASDAQ Composite registered a new all-time-high, but the quality of that rally leaves a lot to be desired. That... READ MORE
* Long-term trends rolling over to the downside * A rising dollar does not help gold * Gold Under-performing stocks is not a good thing….for gold * Gold showing bear market characteristics Long-term trends rolling over to the downside The recent sell off in the price of gold has quite frankly surprised me.... READ MORE
* A look at the primary and secular trends * Interesting momentum study points to lower bond yields * Bond Net New Highs set to pounce in either direction * Slight softening in confidence hints at lower yields In the June and July editions of my Market Roundup webinars I pointed out the possibility... READ MORE
* Technical picture is ripe for a turn, but the main trend is up right now * Tuesday’s outside day could be the first domino * Negative divergences between several energy components Technical picture is ripe for a turn, but the main trend is up right now The oil price remains in... READ MORE
* Copper signals a primary bear market * Copper’s influence on commodities in general * Copper and bond yields It’s often said that Copper has a PHD in economics because it is used widely in many economic sectors. As a result, long-term reversals in its price trend often foreshadow general swings... READ MORE
Here is the link to my current thoughts about the global markets. 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... READ MORE
* The US on a knife edge * Global markets are also on the edge * Individual regions largely around key support Last week I wrote about the important upside breakout in the US market vis a vis the rest-of-the-world, and a previous article pointed out that the S&P had also... READ MORE
* New bull market high for US equity relative action * International markets are breaking down * Commodities lose some upside momentum US equities have been hit hard so far this week, but that’s nothing compared to China, Emerging Markets, Europe and other markets around the globe. As a result, we are... READ MORE
* Stocks are rising against gold and that’s bullish * The long-term trend points to gold under-performing stocks * Stock/Gold ratio breaks out from a right-angled broadening formation The price of gold, over the short-term, typically rises and falls on global tensions or lack thereof. Longer-term trends though, are more influenced... READ MORE
* NYSE breakout * Multi-sector breakouts * Green shoots coming through for Europe and emerging markets NYSE breakout Monday’s action has seen the NYSE Composite, the $NYA complete a 4-month reverse head and shoulders pattern. If that breakout holds, and there are few grounds for suspecting that it won’t, it’s... READ MORE
Here is the link for the June 2018 Market Round Up. 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
* CPI adjusted S&P is just above a long-term make-or-break point * The rest of the world is at the brink * US market looks stronger CPI Adjusted S&P is just above a long-term make-or-break point Last week I pointed out that US equities were experiencing a marginal upside... READ MORE
This is the Market Roundup for May 2018. 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
* SPY experiences important relative breakouts * World A/D Line unexpectedly breaks trend * European and Emerging markets ETF’s experience major breakdowns SPY experiences important relative breakouts Earlier this morning I had the idea of writing about the relationship between the US and international markets, as this ratio usually does well... READ MORE
* Commodities looking short-term toppy * Copper close to a bear market signal that it may escape * Oil trend is still positive but vulnerable * Two markets close to a major breakdown In a global stock market of predominantly long-term bullish charts, two country funds stand out as being on the verge of... READ MORE
Volume is offering a mixed picture Last week I pointed out that several short-term indicators, including breadth and net new high indicators, were still pointing north. One area that was not showing any strength of note was volume, in the form of the PVO for the NYSE. Chart 1 shows... READ MORE
* When a top is not a top * The rally is broadly based * Is the US about to out-perform the world again? When a top is not a top Last week I pointed out that several indicators were positioned for a nice rally. However, one of the lingering questions related to... READ MORE
* Sell in May does not have a great track record * Technology continues to outpace staples, and that’s bullish * Technology, consumer cyclicals and REITS are well positioned for a rally Sell in May does not have a great track record If there is a seasonal saying that seems ubiquitous at... READ MORE
* Dollar Index breaks to the upside * Dollar sympathy relationships * The Aussie Dollar close to a mega signal for itself and commodities Dollar Index breaks to the upside Chart 1 shows that the Dollar Index falsely broke to the downside at the very beginning of the year. In the last couple... READ MORE