Martin Pring

Martin Pring


A pioneer in technical analysis, Martin is the Founder and President of Pring Research and Chairman of Pring Turner Capital Group. A best-selling author, his many books include "Introduction to Technical Analysis" and "Technical Analysis Explained". Learn More 

Archived News

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Investors no Longer Hunting for Yield as Junk Bonds Break Down

Investors no Longer Hunting for Yield as Junk Bonds Break Down

* Leading sectors experience false breaks to the upside. * NYSE A/D Line completes a head and shoulders top. * Dollar Index may be about to resume its bull market. US Equities Last week there appeared to be a sporting chance that the market was headed higher as several short-term indicators were...   READ MORE 

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Oversold Short-term Indicators Suggest Another Attempt At New Highs Is In The Cards

Oversold Short-term Indicators Suggest Another Attempt At New Highs Is In The Cards

* Pring Dow Diffusion indicator triggers a tentative buy signal. * Net new high bond indicator is deeply oversold. * Aussie and Canadian dollars experience bullish KST. US Stocks Action this week has been somewhat disappointing since several averages and sectors experienced reversal characteristics on Tuesday. This suggests that, over the next few...   READ MORE 

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Is The Greek Stock Market About To Collapse Or Explode?

Is The Greek Stock Market About To Collapse Or Explode?

* HYG/IEF bond confidence indicator may be peaking. * Cyclicals and financials have the ability to break to the upside. * Spider Metal and Mining  and Materials less favored. US Equities The NYSE Composite ($NYA)  continues to trade in a narrow range frustrating bull and bear alike. The 200-day MA often acts...   READ MORE 

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If You Are Bullish On US Equities Try Looking At China For A Signal

If You Are Bullish On US Equities Try Looking At China For A Signal

* - Special K for the NYSE Composite breaks support * - Emerging markets getting oversold * - Commodities are about to resolve their recent trading range A Chinese leading Indicator? It’s a well-known fact that the Chinese market has been the hottest on earth in recent months. What’s not so...   READ MORE 

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What Are The Implications Of Rising World Interest Rates?

What Are The Implications Of Rising World Interest Rates?

* -World Bond Index completes a major top. * -US short-term bonds on the verge of a breakout. * -Stocks now being threatened by rising rates. World Bond Index Global bond markets have really been taking it on the chin recently without that usual push they get from rising commodity prices. Monetary policy...   READ MORE 

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Is Thursday's Negative Action The Start Of Something More Serious?

Is Thursday's Negative Action The Start Of Something More Serious?

* -Brokers experience a bearish two bar reversal. * -Dollar diffusion indicator ticks up for the first time in many weeks. * -Gold in dollars experiencing a short-term breakdown. * -Gold in yen and euro at crucial support levels. US Equities The market has been working its way irregularly higher over the last few...   READ MORE 

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Is It Too Late To Sell In May?

Is It Too Late To Sell In May?

* World Stock ETF falls to important support. * Key bond confidence indicator at a key level. * Dollar offering stronger signals that the correction is over. Global Stocks A couple of weeks ago I drew your attention to the $61 area on the MSCI World Stock ETF, the ACWI, as I felt...   READ MORE 

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Is it Time for the Dollar Bull Market to Resume?

Is it Time for the Dollar Bull Market to Resume?

* Dollar Index ETF experiences a 38% Fibonacci correction and bounces. * Key dollar relationships either at or just above major support. * One way or another individual major currencies look vulnerable. The Dollar Index ($USD) has been correcting for the last 9 weeks causing some observers to question the legitimacy of the...   READ MORE 

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Why Is $61 Such An Important Number?

Why Is $61 Such An Important Number?

* Key levels for the MSCI World Stock ETF. * Asia Ex Japan and Japan ETF’s can support higher prices. * Latin America and the Middle East look the most vulnerable. Occasionally a specific price can show up as a pivotal number that provides a valuable clue as to the probable direction...   READ MORE 

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Will the Giant Trading Range for the Emerging Markets ETF be Resolved on the Upside or Downside?

Will the Giant Trading Range for the Emerging Markets ETF be Resolved on the Upside or Downside?

* China, Taiwan and South Korea digesting gains following upside breakouts. * India, Russia, and Brazil face technical challenges. * The counter-cyclical commodity rally may well be over. Emerging Markets The MSCI Emerging Markets ETF, the EEM, has been in a large trading range during the last few years, as you can see...   READ MORE 

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Will Last Month's NYSE Breakout Hold?

Will Last Month's NYSE Breakout Hold?

* McClellan Summation gives a sell for the Wilshire 5000. * Bond confidence ratios turn positive. * Inflation ratios break to the upside. Trick or treat? * Bonds complete a head and shoulders top. US Equities The NYSE Composite ($NYA) has been doing its best to break to the upside but continues to vacillate...   READ MORE 

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With Recent Breakouts Lacking Strong Conviction, "Sell in May?" Could Be A Legitimate Question

With Recent Breakouts Lacking Strong Conviction, "Sell in May?" Could Be A Legitimate Question

* Global equities starting to get overbought. * Dollar Index and related relationships break to new correction lows. * Commodities tentatively break to the upside. US Equities From now until next Tuesday the market will be under the spell of the bullish end of the month seasonal. That condition, combined with the fact...   READ MORE 

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Does Friday's Sell-off Negate the NYSE Upside Breakout?

Does Friday's Sell-off Negate the NYSE Upside Breakout?

* -Some short-term momentum indicators weaken but are not yet bearish. * -Dollar related relationships close to an upside breakout * -Gold and silver under pressure US Equities They say that the most critical points of a flight are takeoff and landing. The same is true in technical analysis where the most critical...   READ MORE 

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Global A/D Line Breaks above Key Resistance

Global A/D Line Breaks above Key Resistance

* - Confidence trying to improve in the bond market so that it can support higher equities. * - Oil trying to form a base. * - Declining peaks and troughs still in force for the Bloomberg Commodity ETN. Global Equities Throughout most of the bull market my Global A/D Line, comprising...   READ MORE 

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US Equities are Very Close to an Upside Breakout. Can they do It?

US Equities are Very Close to an Upside Breakout. Can they do It?

* World Stock ETF looks set for an upside breakout if it can get a small push in that direction * Treasury yield curve begins to steepen * Gold shares and silver caught in an important trading range. Equities Last week’s headline addressed the question of whether Chinese equities would drag US...   READ MORE 

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Will Chinese Equities Drag up their US Counterparts?

Will Chinese Equities Drag up their US Counterparts?

* Dow Jones Transports flirting with key support. * Chinese ETF (FXI) experiences a long and short-term breakout. * Emerging markets on the edge of a breakout. US Equities Since the middle of last year we have seen two different market characteristics develop. The first, as epitomized by the S&P 500...   READ MORE 

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Global Stocks And The NYSE Composite Are In Focus At The Top Of A Major Trading Range

Global Stocks And The NYSE Composite Are In Focus At The Top Of A Major Trading Range

* The NYSE Composite breaks out against the S&P 500. * The SPY/EFA (US against the world) ratio completes a top. * The S&P Europe 350 (IEV) breaks out against the S&P 500. * The DB Commodity ETF is close to an important down trend line violation....   READ MORE 

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Beneficiaries Of A Rising US Dollar Are Beginning To Look Tired

Beneficiaries Of A Rising US Dollar Are Beginning To Look Tired

* The RS between US equities and the rest of the world could be about to break against the US. * The GLD breaks above its intermediate down trendline. * Silver experiences a false move to the downside, thereby leaving it free to move higher. The Dollar and Related Markets. Has the US...   READ MORE 

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Stock Markets around the World Continue to Look Vulnerable

Stock Markets around the World Continue to Look Vulnerable

* World stock ETF may have experienced a false upside breakout. * Bonds likely to out-perform stocks in the immediate future. * Emerging markets ETF right at critical support. Global Equities Global equities are starting to look sick. Chart 1, for instance shows that the MSCI World Stock ETF, the ACWI, has recently...   READ MORE 

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Can the Stock Market Hold its Breakout?

Can the Stock Market Hold its Breakout?

* NYSE Composite and MSCI World Stock ETF could be in the process of cancelling their recent breakouts. * Stock/bond ratio at a critical juncture. * Junk bonds violate up trend line. * Dollar Index breaks to the upside. * Gold and gold shares face important technical test. Equities Chart 1 suggests  that the...   READ MORE 

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Equity Market Breakout is Broadly Based but Short-term Indicators are Becoming Overstretched

Equity Market Breakout is Broadly Based but Short-term Indicators are Becoming Overstretched

* Emerging markets about to experience an important breakout. * Yield curve continues to flatten. * Confidence in the bond market faces an important technical test. US Equities We have seen some nice breakouts in the last few trading sessions, which have been pretty broadly based as you can see from Chart 1,...   READ MORE 

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US Equity Upside Breakout So Far So Good

US Equity Upside Breakout So Far So Good

* -NASDAQ Composite offers quality upside leadership. * -Watch the 5-year yield for a clue as to future rate movements. * -Gold starting to show bull market characteristics but can it confirm with some positive trend action? In last week’s article I drew your attention to the fact that the technical picture...   READ MORE 

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Forthcoming Big Move in Equities is Likely. The Question is Which Way will it Be?

Forthcoming Big Move in Equities is Likely. The Question is Which Way will it Be?

* The NYA starts to break down against the S&P again. * Emerging markets ETF triggers some short-term sell signals. * The EEM is resting above key long-term support. US Equities The market continues to frustrate both bull and bear alike as the major averages steadfastly refuse to break out from...   READ MORE 

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Moment of Truth Approaching for US Equities

Moment of Truth Approaching for US Equities

* Short-term oscillators turn bullish for equities * EFA breaks above significant down trend line * Gold short-term momentum reverses to the downside US Equities Last week the headline of my Market Roundup article read as follows, ”Will the end-of the month bullish seasonal for equities be enough to avoid a downside domino...   READ MORE 

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Will The End-Of-The-Month Bullish Seasonal for Equities Be Enough To Avoid A Downside Domino Effect?

Will The End-Of-The-Month Bullish Seasonal for Equities Be Enough To Avoid A Downside Domino Effect?

* NYSE Composite is forming a head and shoulders top or is it a bottom? * IWM experiences false upside breakout * SPY/EFA ratio is signaling a dollar correction. Will the Index take the bait? * Wisdom Tree Yuan fund right on a key up trend line I last wrote about the US...   READ MORE 

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The Rest of the World May be About to Beat US Equities for a While

The Rest of the World May be About to Beat US Equities for a While

* Europe and Emerging Market equities positioned to move higher. * Philippine ETF breaks to the upside. * Silver breaks convincingly to the upside. * Gold breaks out against US equities. US versus the World The trend favoring US equities over most of the rest of the world, may be in the process of...   READ MORE 

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Friday's Stock Market Action Hints at Further Weakness to Come Near-term

Friday's Stock Market Action Hints at Further Weakness to Come Near-term

* World Stock ETF getting closer to completing a top. * Gold in euro and yen build on recent breakouts. * Dollar denominated gold close to an upside breakout. US Equities On Friday the S & P Composite ($SPX) experienced the second day of a dark cloud cover formation, a bearish candlestick pattern....   READ MORE 

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MSCI World ETF and NYSE Composite Violate their 12-month Moving Averages. Is This the Start of a Primary Bear Market?

MSCI World ETF and NYSE Composite Violate their 12-month Moving Averages. Is This the Start of a Primary Bear Market?

* Much expected Santa Rally did not happen and that’s bearish. * MSCI Europe Australia Far East ETF right on the brink of a major breakdown. * Small caps may have experienced a false upside breakout. * Chinese ETF breaks out big time on both an absolute and relative basis. In my mid-December...   READ MORE 

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An Important Move is Likely for Gold and Silver in Early 2015. Here are the Chart Points to Watch

An Important Move is Likely for Gold and Silver in Early 2015. Here are the Chart Points to Watch

* Dollar based gold is in a bear market. * Yen and euro denominated gold are in primary bull markets. * Gold shares complete a massive top. Last week we reviewed the technical picture of the major currencies. This week it is the turn of the precious metals because the finely balanced technical...   READ MORE 

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End Of The Year Dollar Index Review

End Of The Year Dollar Index Review

* Long-term dollar rally likely to continue. * Yuan on the edge of a breakdown. * January is tied with November as the most bullish month for the dollar. * Short-term dollar momentum overstretched but re-accelerating to the upside. Currencies At the end of August the US Dollar Index ($USD) broke out from a...   READ MORE 

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Equities still Look Vulnerable Notwithstanding a Possible Reflexive Bounce

Equities still Look Vulnerable Notwithstanding a Possible Reflexive Bounce

* Dichotomy in the credit markets is extending. * Dim Sum bonds at a critical juncture. * Gold asset markets weakening again. US Equities Statistics tell us that December is the most bullish month of the year for equities. Interestingly, the November-January period offers the best performing consecutive months of the year (S&...   READ MORE 

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Two Benchmarks that will Likely Signal the Direction of the Next Major Equity Move

Two Benchmarks that will Likely Signal the Direction of the Next Major Equity Move

* Stocks likely to resume their downtrend vis a vis bonds. * Emerging Markets ETF resting on a key trend line. * Different bond maturities moving in different directions. US Equities The battle lines are being drawn for the next major move in the equity market. For the NYSE Composite ($NYA) those lines...   READ MORE 

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Global Equity Market Roundup

Global Equity Market Roundup

* USA still leading the way on the upside. * Russian and Mexican ETF’s break to the downside. * EEM components offering a mixed picture. * The two sides of Japan. International Equities With the US, German, Japanese, Indian, New Zealand, Pakistani  and several other markets joining the US in new all-time high...   READ MORE 

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Bullish Seasonals and Cycles Should Push Stocks to Significant Highs in 2015..but will they?

Bullish Seasonals and Cycles Should Push Stocks to Significant Highs in 2015..but will they?

* Bullish NYSE percent has likely peaked out. Indicates market will become more selective. * You can’t keep a good dollar down! * Emerging market currency fund breaks down. EM are likely to follow. US Equities I have always said that trend trumps everything. By that I mean that however bad the...   READ MORE 

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A couple of Chinese Equity Sector ETF's break to the Upside

A couple of Chinese Equity Sector ETF's break to the Upside

* Stock/bond ratio challenges overhead resistance. * Watch $120 on the GLD. * Commodities may be set for short-term rally. US Equities For some time I have been pointing to several discrepancies in the market that have been troubling. My conclusion was that as long as the uptrend since mid-October was intact...   READ MORE 

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Tuesday's NASDAQ High Was Accompanied By A Paltry 50 Net New Highs

Tuesday's NASDAQ High Was Accompanied By A Paltry 50 Net New Highs

* Value Line Arithmetic is just below  important resistance. * 10-year bond price reacts to its recent breakout point. * The GLD fails at resistance. US Equities The Value Line Arithmetic($VLE)  monitors the price of  the average stock. It has been one of the weakest areas of the market as demonstrated by...   READ MORE 

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Gold in Yen Breaks to the Upside. Is this the Start of a Broader Trend Feeding Back to the US Dollar Gold Price?

Gold in Yen Breaks to the Upside. Is this the Start of a Broader Trend Feeding Back to the US Dollar Gold Price?

* IWM continues to rally but Relative Strength action still lags. * Dollar diffusion indicator starting to turn down. * The Gold (GLD) experiences a strong outside bar on heavy volume. US Equities Chart 1 shows the Coppock Curve for the S&P 500 ($SPX) . This indicator was designed to identify major...   READ MORE 

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Gold Price in Yen Offers a Thumbs Down on the BOJ's latest Inflationary Moves

Gold Price in Yen Offers a Thumbs Down on the BOJ's latest Inflationary Moves

* Short-term market indicators are still bullish. * Stock/bond ratio reaches a critical point. * Yen completes a 28-year top against the dollar. US Equities Throughout 2013 and for most of 2014 every peak in the S&P was confirmed by the NYSE Composite ($NYA) . You can see that from the...   READ MORE 

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Inflation Hedge Assets Continue to Break to the Downside (Video)

* Outside day hints that the short-term downtrend for bonds  may be over. * Dollar Index may be completing an inverse head and shoulders. * Stronger dollar forces gold to test its lows. * Stronger dollar causes gold to break down from a 2-year trading range. Here is a link to the the text...   READ MORE 

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Inflation Hedge Assets Continue to Break to the Downside

Inflation Hedge Assets Continue to Break to the Downside

* Outside day hints that the short-term downtrend for bonds may be over. * Dollar Index may be completing an inverse head and shoulders. * Stronger dollar forces gold to test its lows. * Stronger dollar causes gold to break down from a 2-year trading range. Here is a link to the video version...   READ MORE