Market Recap for Thursday, January 25, 2018 Utilities (XLU, +1.55%) easily enjoyed its best day of 2018 on Thursday as significant price support, combined with falling treasury yields, triggered an explosive move higher as buyers could not get enough of the beaten-down sector. Here's the chart: The... READ MORE
Market Recap for Wednesday, January 24, 2018 Only the Dow Jones was able to end Wednesday's session in positive territory, but all of our major indices remain very strong with accelerating bullish price momentum. Sectors and industries have taken their turns leading U.S. stocks higher and yesterday... READ MORE
Market Recap for Tuesday, January 23, 2018 The tech-laden NASDAQ powered forward to new all-time highs on Friday, closing above 7400 for a second consecutive session and now approaching 7500. All of our major indices ended higher, except for the Dow Jones, which saw a last minute bout of selling... READ MORE
Market Recap for Monday, January 22, 2018 There was a lot of good things happening on Monday. First of all, one of the worst days historically has been the Monday after options expiration Friday. That historical weakness never materialized yesterday as all of our major indices trended up throughout the... READ MORE
Market Recap for Friday, January 19, 2018 Strength resumed on Friday, with three of our four major indices closing at record highs. Only the Dow Jones managed to come up short as losses in Dow components IBM, General Electric (GE) and American Express (AXP) held back the index, although it... READ MORE
Bull markets can advance very quickly and can become extremely overbought. It's a challenge psychologically at times to commit new money t0 a stock or ETF, knowing that just days or weeks ago prices were so much cheaper. So what the heck do you do when looking to... READ MORE
Market Recap for Thursday, January 18, 2018 Thursday was not a great day for the bulls. We haven't seen too many times since the August low where all of our major indices finished lower on the session. Yesterday, however, was one of those days. But the action recently... READ MORE
Market Recap for Wednesday, January 17, 2018 The Dow Jones didn't fail this time. After Tuesday's huge reversal from above the 26,000 level, there were a number of question marks about whether the current rally would continue. The Dow Jones answered those questions rather emphatically... READ MORE
Market Recap for Tuesday, January 16, 2018 Tuesday was perhaps the most bearish day we've seen in quite awhile. For starters, volume on our major indices was the heaviest in the past 6-7 weeks, excluding option expiration Friday on December 15th. But the heavy volume, by itself, wasn&... READ MORE
Market Recap for Friday, January 12, 2018 U.S. equities had another nice rally on Friday, this time led by a very strong consumer discretionary sector (XLY, +1.29%). Eight of the nine sectors finished higher, with utilities (XLU, -0.57%) the only area failing to participate. The XLU tends... READ MORE
Market Recap for Thursday, January 11, 2018 The small cap Russell 2000 ($RUT) led U.S. indices higher on Thursday with more across-the-board record highs being set. The RUT gained 1.73%, more than doubling the advance on any of the other major indices. There were plenty of reasons, but... READ MORE
Market Recap for Wednesday, January 10, 2018 We saw losses across our major indices on Wednesday, but the bulls spent most of the day recovering from steeper losses just after the opening bell. Losses were inconsequential as they ranged from 0.02% on the aggressive Russell 2000 (small caps) to... READ MORE
Note At the bottom of this article, you can type in your email address and hit the green "Notify Me" button to subscribe to my blog for FREE! Then my article will immediately be sent to your email address upon publishing. Thanks! Market Recap for Tuesday, January 9,... READ MORE
Market Recap for Monday, January 8, 2018 After mostly a weak start on Monday, our major indices resumed their bullish ways and finished with positive returns. The lone exception was the Dow Jones, which dropped 13 points to end its impressive winning streak to open 2018. Weakness in Unitedhealth Group... READ MORE
Market Recap for Friday, January 5, 2018 Not even a disappointing jobs report on Friday could slow down this bull market train. U.S. futures were strong before the release of December's nonfarm payrolls and they didn't give up a thing after the release, which showed... READ MORE
HAPPY NEW YEAR! In my first Trading Places blog article of 2018, "Here's One Chart That Screams BUY As We Begin 2018", I highlighted my favorite relative chart in the Current Outlook section. It's one of the biggest reasons why I believe 2018 will... READ MORE
Market Recap for Thursday, January 4, 2018 Where's the top? Who knows and the bulls don't seem to care. As of Wednesday, the Dow Jones was left out as the only index not to clear a psychological or significant price level for the first time ever... READ MORE
Market Recap for Wednesday, January 3, 2018 We're only two trading days into 2018 and already we've seen the S&P 500's first close ever over 2500, the NASDAQ's first close ever above 7000, the Russell 2000's first close... READ MORE
Market Recap for Tuesday, January 2, 2018 The NASDAQ loves January and January loves the NASDAQ. If there's one month where the NASDAQ really shines on a relative basis, it's January (see Historical Tendencies below) and that index opened the new year like it owns January.... READ MORE
Special Note First, I'd like to wish everyone a Happy New Year! Let's make 2018 our best yet! Here are a couple of quick reminders: (1) If you like my Trading Places blog and you'd like to follow my articles every morning, scroll down... READ MORE
Special Note Happy New Year to all and thanks so much for your support of me and StockCharts.com in 2017 (and please subscribe at the bottom of my article - it's FREE!). If you're not a member, your first resolution should be to become one.... READ MORE
Market Recap for Wednesday, December 27, 2017 Wednesday's action was characterized by thin volume and low volatility, normal for trading during the holidays. Our major indices moved fractionally higher, with the Russell 2000 ($RUT) being the exception after that index fell during the afternoon session to finish slightly... READ MORE
Market Recap for Tuesday, December 26, 2017 Energy stocks (XLE, +0.88%) continued their merry way higher, which really isn't surprising after the sector made a very significant price breakout above the 70 level. With an RSI approaching the 80 level now, however, I wouldn't be... READ MORE
Market Recap for Friday, December 22, 2017 The major indices all fell back slightly during Friday's pre-Christmas holiday, light volume trading session. Materials (XLB, +0.38%) was the best performing sector, while healthcare (XLV, -0.32% and financials (XLF, -0.28%) lagged. The 10 year treasury yield ($TNX)... READ MORE
Market Recap for Thursday, December 21, 2017 In afternoon trading, all of the major indices except the NASDAQ appeared headed for another record all-time high close. But a late afternoon selling bug hit Wall Street and much of those earlier gains disappeared. The small cap Russell 2000 was able to... READ MORE
The energy ETF (XLE) has been blistering hot this week and today its three largest holdings - Exxon Mobil (XOM at 23%), Chevron Corp (CVX at 17%) and Schlumberger (SLB at 7%) - all had some form of a breakout. XOM surged to its highest close since January. CVX closed... READ MORE
Market Recap for Wednesday, December 20, 2017 It's been a rough road for oil equipment & services stocks ($DJUSOI, +2.33%). They haven't broken down below summer lows, but they also haven't kept pace with the energy sector as a whole either. Yesterday'... READ MORE
Market Recap for Tuesday, December 19, 2017 Housing data released the past couple days has been extremely hot with the housing price index well above expectations and then yesterday housing starts and building permits both easily surpassing Wall Street consensus estimates. This data has been expected by the stock market... READ MORE
Market Recap for Monday, December 18, 2017 Rotation is powerful during bull markets and Monday's action was a perfect illustration. On November 15th, both the materials sector and small cap stocks were clear market laggards, but over the past 4-5 weeks we've seen both areas gather... READ MORE
Market Recap for Friday, December 15, 2017 Friday's action was extremely bullish. I always love to see "trend days", where prices rise across the board from opening to closing bells. Strength was found in all of our major indices with the Russell 2000 (small caps) leading... READ MORE
Happy holidays! I want to wish everyone a joyous holiday season and here's to a happy, healthy and prosperous 2018! Thank you so much for all your support of StockCharts.com in 2017! To better understand the reasoning for the stocks selected below, you first need to understand... READ MORE
Market Recap for Thursday, December 14, 2017 Walt Disney (DIS) announced plans to purchase $52 billion of 21st Century Fox (FOXA) assets and that lifted both the broadcasting & entertainment index ($DJUSBC) and the consumer discretionary sector (XLY, +0.31%), not to mention both DIS (+2.75%) and FOXA (+6.... READ MORE
We'll soon find out. But, as a short-term trader, I'd have sold Mylan (MYL) into the close today. A close above 40.09 on heavy volume would confirm a breakout. Today, MYL hit 41.59 intraday, but fell all the way back to close at 40.... READ MORE
Market Recap for Wednesday, December 13, 2017 It was a simple case of "buy the rumor, sell the news". Financials (XLF, -1.24%) slumped on Wednesday after the Fed decided to raise interest rates another quarter point. Higher 10 year treasury yields ($TNX) typically result in money rotating... READ MORE
Market Recap for Tuesday, December 12, 2017 It was mixed and bifurcated action on Tuesday. The Dow Jones and S&P 500 continued their assault on the record books, but the NASDAQ and Russell 2000 both paused and pulled back. With the 10 year treasury yield ($TNX) moving back... READ MORE
Market Recap for Monday, December 11, 2017 The Russell 2000 remained in true December form as it continues to struggle during the first half of the month, despite records being set on both the Dow Jones and S&P 500 on a daily basis. It truly is an anomaly.... READ MORE
Market Recap for Friday, December 8, 2017 While we didn't set intraday all-time highs, we did manage to close at record levels on both the Dow Jones and S&P 500, which rose 0.49% and 0.55%, respectively, on Friday. The NASDAQ tacked on 0.40%... READ MORE
On October 26th, Intel (INTC) posted quarterly earnings results and beat both revenue and EPS estimates. It resulted in a very strong gap higher the next morning and then INTC continued rising, tacking on another 10% within a week. But INTC became very overbought with an RSI above 90 and... READ MORE
Market Recap for Thursday, December 7, 2017 December began with a huge intraday selloff and recovery and since then, it's been mostly down action. Yesterday was the first day this month that the bulls could celebrate and feel good. Eight of nine sectors advanced with many of the... READ MORE
I'm constantly looking for short-term trading opportunities and Perrigo (PRGO) fits the bill. After reporting better-than-expected results in its latest quarter, PRGO gapped up strongly and today filled its gap before finishing on a solid note to print a hammer (blue circle below) - many times a signal... READ MORE