Editor's Note: This is an updated version of an article originally posted on Martin Pring's Market Roundup on April 21, 2020. In recent articles, I have pointed out that quite a few of the short-term indicators reached well beyond their normal oversold readings at the March... READ MORE
In recent articles, I have pointed out that quite a few of the short-term indicators reached well beyond their normal oversold readings at the March lows. Historically, this is has been a very bullish characteristic, often signaling the end of a bear market. The difference between now and most of... READ MORE
History tells us that, at major turning points for commodities, there is a strong, albeit imprecise, tendency for the gold price to have preceded that reversal. Gold generally leads because a rising price anticipates inflation, while a falling one anticipates deflation. This idea is represented by the rightward sloping solid... READ MORE
History tells us that, at major turning points for commodities, there is a strong, albeit imprecise, tendency for the gold price to have preceded that reversal. Gold generally leads because a rising price anticipates inflation, while a falling one anticipates deflation. This idea is represented by the rightward sloping solid... READ MORE
Chart 1 shows that last week, based on daily data, the gold price quietly broke out from a reverse head-and-shoulders pattern. It's certainly a little overstretched on a short-term basis and may need to pause for a couple of sessions or so, but the longer-term indicators are pointing... READ MORE
Whenever a specific technical event is repeated widely in many different stocks, it gets my attention, as it often signals a reversal in the prevailing trend. We call it the principle of commonality. Alternatively, you could think of it as the principle of strength in numbers. Tuesday's Action... READ MORE
In my monthly Intermarket Review this month, I pointed out that, using a 6-week ROC for perspective, the DJIA dropped by 36% on March 20 -before then, there had only been two other instances where the market had fallen by a similar amount from an all-time-high. Based on the DJIA... READ MORE
I wrote earlier in the week that, whenever the market rallies by 8-9%, it's obvious that some form of bottom has taken place (however fleeting), so I don't want to state the obvious. It is apparent, though, that some of the short-term indicators have finally begun... READ MORE
Editor's Note: This is an expansion of a previous Market Roundup article written on Tuesday, March 24th, now with updated charts and commentary. For the original article, click here. I wrote earlier in the week that, whenever the market rallies by 8-9%, it's obvious that some... READ MORE
* Indicators Start to Flash Buy Signals * What Happened in the 1929-32 Bear Market? * Longer-Term Perspective Whenever the market rallies by 8-9%, it's obvious that some form of bottom has taken place (however fleeting), so I don't want to state the obvious. It is apparent, though, that... READ MORE
This week has seen U.S. administration fiscal proposals, as well as 1.5 trillion dollars in Fed support, aimed at limiting the economic damage from COVID-19. Friday saw a travel ban put into effect, along with a state of emergency. Unfortunately, these actions, just like the previous week'... READ MORE
This week has seen U.S. administration fiscal proposals, as well as 1.5 trillion dollars in Fed support, aimed at limiting the economic damage from COVID-19. Friday saw a travel ban put into effect, along with a state of emergency. Unfortunately, these actions, just like the previous week'... READ MORE
* Bonds and Yen Starting to Lose Safety Appeal? * One Indicator That Has Returned to Financial Crisis Levels Bonds and Yen Starting to Lose Safety Appeal? The stock market has got the majority of the attention in the last couple of weeks because of its exceptional volatility. On the other hand,... READ MORE
* Revisiting the February 29 Hammer * Hammering a Top for COVID-19 Revisiting the February 29 Hammer On Friday, 29 February, I pointed out that the Wilshire 5,000 had formed a bullish hammer at a time when a couple of other short-term indicators had reached extreme levels, thereby suggesting a rally.... READ MORE
* Shanghai is Outperforming the US * Interesting Chinese Sectors Shanghai is Outperforming the US Back in early January, I drew your attention to the fact that the Shanghai Composite ($SSEC) had broken to the upside, which is shown in Chart 1. A week or so later, when the coronavirus reared its... READ MORE
It's been quite a week, but the charts are starting to look to me as if a bottom is close at hand. In order to identify one, I look at a couple of factors. First, are there any signs of a one or two bar reversal pattern? Take... READ MORE
* Some Signs of Weakness * On a More Bullish Note * Mind that Gap and Volatility Last time I wrote about the stock market was the first week in February, where I concluded that a couple of indicators were oversold, but that many others were not, so further corrective action probably lay... READ MORE
* Secular Trend for the 20-Year Yield * Lower Down Curve Yields Are Already in a Secular Bull * Short-Term Oscillators Ready for Some Upside Action? The coronavirus has triggered concerns about the recovery, which in turn has resulted in a sharp setback for yields. Falling yields are bullish for housing starts, which,... READ MORE
Back in December, I wrote an articlepointing out that the business cycle was nothing more than a set series of chronological sequences. The importance of this observation, for investors, is that the primary trend peaks and troughs of bonds, stocks and commodities fit nicely into that chronology, as shown in... READ MORE
* Where Are We in the Cycle? * The Economy is Currently on the Side of the Bulls * The Technical Position of the DB Commodity ETF is Precarious Where Are We in the Cycle? Back in December, I wrote an articlepointing out that the business cycle was nothing more than a set... READ MORE
* Why the Correction Will Likely be Contained * More Corrective Action Likely * One Indicator Flashes a Buy Signal * Conclusion Why the Correction Will Likely be Contained A couple of weeks ago, I wrote that a correction was inevitable, and presented a couple of indicators to suggest that it might be close.... READ MORE
The stock market was roughed up by the coronavirus earlier in the week, but, under the surface, another battle has been going on -- the one between inflation and deflation, that is, as both yields and commodity prices have run up against key support levels. That's a dispute... READ MORE
* Bond Yields are Just Above Support * Commodities are at Support The stock market was roughed up by the coronavirus earlier in the week, but, under the surface, another battle has been going on -- the one between inflation and deflation, that is, as both yields and commodity prices have run... READ MORE
One of the basic laws of technical analysis, which I have learned the hard way, is to be very careful about calling counter-cyclical short-term moves. The primary trend dominates everything. For example, if you are in a bear market and you see a short-term oversold condition, do not assume that... READ MORE
The Dollar Index has been rising in the last few sessions following its December decline, which has put it at a crucial technical juncture. Whichever way it breaks will have implications for commodities, gold and the relative performance of international equities to the US. A rising currency would have negative... READ MORE
The Dollar Index has been rising in the last few sessions following its December decline, which has put it at a crucial technical juncture. Whichever way it breaks will have implications for commodities, gold and the relative performance of international equities to the US. A rising currency would have negative... READ MORE
Thursday's price action in China resulted in a powerful signal that Chinese equities are headed significantly higher. That should be bullish not only for China but for the world as a whole. In making that statement, I am assuming that that this market is in the process of... READ MORE
The monthly Market Roundup videofor January 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 Groupof Walnut Creek or its affiliates.... READ MORE
* Major Breakouts Coming Out of China * Four Chinese ETFs Major Breakouts Coming Out of China Thursday's price action in China resulted in a powerful signal that Chinese equities are headed significantly higher. That should be bullish not only for China but for the world as a whole. In... READ MORE
Right now, stocks are very overextended and likely due for a correction. In Chart 1, for instance, you can see that my Global Diffusion indicator has just triggered a sell signal from an extreme level. The solid red arrows show that the MSCI World Stock ETF (ACWI) has usually responded... READ MORE
* Confidence is Breaking Out All Over * Alternative Risk Relationships are Starting to Get Riskier Right now, stocks are very overextended and likely due for a correction. In Chart 1, for instance, you can see that my Global Diffusion indicator has just triggered a sell signal from an extreme level. The... READ MORE
In my Monthly Market Rounduplast week, I repeated a talk that I recently gave at the CMT Summit in Mumbai. The talk in question began with an outline of the approach we take at Pring Turner for our sub-advisory services and in the Intermarket Review, my monthly publication that analyses... READ MORE
* The Markets and the Business Cycle * Using Other Markets to Forecast Commodities The Markets and the Business Cycle In my Monthly Market Roundup last week, I repeated a talk that I recently gave at the CMT Summit in Mumbai. The talk in question began with an outline of the approach... READ MORE
The monthly Market Roundup videofor December 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 Groupof Walnut Creek or its affiliates.... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Thursday, November 28th at 4:08pm ET. Chart 3 shows a long-term indicator that just went bullish for the market. It also points us in the direction of one of the sectors referred... READ MORE
* The Game Has Just Begun * Three Interesting Sectors * Watch the DB Agriculture Fund The Game Has Just Begun It is fairly evident by now that the equity market has broken to the upside big time. Chart 1 sets the scene by demonstrating that first the Coppock Indicator and later the... READ MORE
Editor's Note: This article was originally published in Martin Pring's Market Roundup on Thursday, November 7th at 1:28pm ET. Back in mid-September, I wrote an article on US equitiesthat pointed out how several short-term indicators had reached extreme overbought levels, a sign of strong underlying... READ MORE
* Two Meaningful Breakouts * One Chart Still to Break Out Back in mid-September, I wrote an article on US equitiesthat pointed out how several short-term indicators had reached extreme overbought levels, a sign of strong underlying momentum that historically had been followed by higher prices. However, since overbought conditions are typically... READ MORE
The monthly 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 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 Friday, November 1st at 1:36pm ET. At Pring Turner Capital, the registered investment advisory firm where I serve as investment strategist, our investment approachinvolves the proactive rotation of client's assets... READ MORE