* 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
* Technical position for yields still looks bullish * International rates look higher * Dollar breaks out, but will it hold? * Finely balanced Gold picture needs some guidance from the Dollar If you have punched up the symbol $TNX, you will know that the 10-year yield has recently hit 3%. Chances are that... READ MORE
* The primary trend * The short-term picture * The Dollar, Copper and Gold The Dollar Index showed some green shoots at the end of the week that might lead to greater things. That’s important in its own right, but since the dollar often moves inversely with commodities and gold its direction... READ MORE
* Bearish engulfing pattern and outside day are cancelled * Breath indicators are firming up Bearish engulfing pattern and outside day are cancelled Last week I wrote that many of the short-term indicators were flashing buy signals and that we should expect the US equity market to work its way higher. I... READ MORE
* A small correction ahead? * Short-term oscillators are primed for a rally * Bitcoin is breaking out again A small correction ahead? If you want to be bullish, Friday’s technical action was somewhat disappointing. That’s because it represented an engulfing pattern for the DIA, as shown in Chart 1. Chart... READ MORE
* The technical position of small caps in general * Small cap sectors The technical position of small caps in general Small caps, as represented by the Russell 2000 ETF (IWM), have outperformed the market since late March and have now broken out in their own right. We can see this from... READ MORE
* The importance of identifying the direction of the primary trend * The Shiller P/E * The four-way test The importance of identifying the primary trend Sometimes it’s a good idea to step back from the everyday trading of daily charts and short-term activity and look at the big picture. If... READ MORE
* Positive breadth characteristics * VIX is less fearful * Short-term oscillators starting to get extremely oversold * How about trend? Last week I suggested that the market may be in the process of forming a double bottom. This week we take that possibility one step forward. Whenever the non-financial cable networks run a... READ MORE
Here is a link to the April edition of Market Round Up for 2018. Martin-Pring-Market-Roundup-April-2018 from StockCharts.com on Vimeo. 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
* Is the market forming a double bottom? * Short-term indicators suggest the bottoming process is nearly complete Sometimes a technical event or characteristic becomes very popular very quickly as a lot of people write and blog about them. Usually, the expectations based on those forecasts are not met. For example, every... READ MORE
* Breadth is more of a positive than a negative factor * Global breadth is also positive * Dow Diffusion Indicator close to a buy signal * Consumer cyclicals versus technology Since early February, the US equity market, in the form of the NYSE Composite, has been in a trading range. This is flagged... READ MORE
* Longer-term perspective * Short-term Charts * Dollar trying to break to the upside Longer-term perspective At its December 18 peak of $18,723, the Bitcoin Index ($NYXBT) outstripped all other bull markets in recorded history. By this yardstick alone this phenomenon qualifies as a mania. So far, the post high, low water... READ MORE
* The indicated main trend is currently bearish * What a more broadly-based Dollar index is saying * Swiss Franc completes a small top * Copper and the Dollar The indicated main trend is currently bearish The Dollar Index peaked in November 2016 and has so far bottomed in January of this year. If... READ MORE
* Two bullish piercing white lines * A sector spread that predicts new stock market highs * Two sectors affected by the proposed tariffs Last week I wrote that the indicators seemed to be calling for a test of the early February low. My expectation was for a sharper and more prolonged decline... READ MORE
Here is the market analysis reviewing the current market outlook. There is a host of information on commodities, bonds and US equities. Market Roundup With Martin Pring 2018-03-01 from StockCharts.com on Vimeo. Chartcon 2018 registration is now open! Registration kicked off today, February 1st! Chartcon 2018! Follow the link... READ MORE
* US is breaking out relative to the world * Growth breaks decisively against value * Blue Tuesday US is breaking out relative to the world Chart 1 shows that the ratio between the US stock market, in the form of the S&P Composite ($SPX), and the World Index (ACWI) often... READ MORE
* General market thoughts * Sectors under pressure * Stronger looking sectors General market thoughts My thoughts on the recent correction is that we have likely seen the low, that more ranging action is likely, probably involving a test of that low, but that eventually US equities will see new bull market highs.... READ MORE
* Pinocchio argues for a test of the lows * European equities are facing a big challenge * Shanghai starting to look sick Pinocchio argues for a test of the lows Last week I suggested that the S&P had reached a resistance zone following its bounce from the early February panic... READ MORE