Market Recap for Wednesday, October 4, 2017 This bull market advance continues to be about rotation. Index rotation. Sector rotation. Individual stock rotation. Few areas of the market are breaking down. It's mostly about gains, consolidation, then more gains. On Wednesday, the red hot Russell 2000 took a... READ MORE
Market Recap for Tuesday, October 3, 2017 It didn't take long for the seasonal tailwinds to kick in for airlines ($DJUSAR). I posted last Friday that airlines were poised to breakout technically and highlighted Alaska Air Group (ALK) as one airline that has performed extremely well during the... READ MORE
Airlines ($DJUSAR) absolutely "took off" in today's action as buyers emerged to drive nearly every airline higher. Spirit Airlines (SAVE) surged 7.10%. JetBlue Airways (JBLU) popped 7.08%. Delta Air Lines (DAL) jumped 6.62%. One fundamental reason for the group's strength was... READ MORE
Market Recap for Monday, October 2, 2017 It was another record day on Wall Street. The Dow Jones, S&P 500, NASDAQ and Russell 2000 all closed at fresh all-time highs. Wide participation is a hallmark of a bull market rally and, make no mistake, there's... READ MORE
Market Recap for Friday, September 29, 2017 We wrapped up the third quarter on Friday with all-time highs showing up everywhere. There was a big buying push into the close on Friday, likely in anticipation of more strength during the fourth quarter. There was strength in most aggressive areas... READ MORE
Delivery services ($DJUSAF) broke out of a bullish continuation cup with handle pattern a few weeks ago and appears poised for a further fourth quarter rally, albeit with some profit taking along the way. Bullish continuation patterns require a prior uptrend and the DJUSAF certainly had that. Check out the... READ MORE
Market Recap for Thursday, September 28, 2017 After early selling on Thursday, U.S. indices mostly rebounded throughout the balance of the day resulting in mostly slight gains by day's end. Materials (XLB, +0.71%) performed quite well after nearly testing its rising 20 day EMA on Wednesday.... READ MORE
Market Recap for Wednesday, September 27, 2017 U.S. stocks were lifted at least in part by rising treasury yields. The 10 year treasury yield ($TNX) spiked 8 basis points and that represents a significant selloff in treasuries. Those proceeds tend to be reinvested in equities and that was certainly... READ MORE
Market Recap for Tuesday, September 26, 2017 Late day selling created a bifurcated U.S. market on Tuesday as small caps performed quite well ($RUT, +0.34%), while the Dow Jones finished slightly in negative territory. Technology (XLK, +0.36%) rebounded after Monday's selling to lead most of... READ MORE
Market Recap for Monday, September 25, 2017 Technology (XLK, -1.18%) was the only real problem on Monday, but it was a big problem. Mobile telecommunications ($DJUSWC) and internet stocks ($DJUSNS) were the big losers with the latter slammed by Facebook (FB), which dropped nearly 5% on extremely heavy volume.... READ MORE
Market Recap for Friday, September 22, 2017 Friday was a bifurcated kind of day on Wall Street. We saw a small loss on the Dow Jones, while there were slight gains on the other major indices. The Russell 2000, in particular, saw relative strength and gained nearly 7 points to... READ MORE
Tesla (TSLA) remains a crowd favorite as the stock's 2017 advance has been accompanied by extremely heavy volume. I see major accumulation when I look at TSLA's chart. But like every other stock, momentum can become an issue from time to time and TSLA appears to... READ MORE
Market Recap for Thursday, September 21, 2017 We are in one of the most bearish historical periods of the year and I've provided a bit more information about it in the Historical Tendencies section below. I'm pointing this out because equities took a break on Thursday... READ MORE
Fed Chair Janet Yellen suggested there'd be another interest rate hike in 2017 and the Fed's overall tone was a bit more hawkish than was anticipated by Wall Street. That resulted in a big spike in the 10 year treasury yield at 2pm EST yesterday, the... READ MORE
Market Recap for Wednesday, September 20, 2017 It was another stellar day for industrials (XLI, +0.73%) as this sector led the Dow Jones to a 6th consecutive record closing high. The gains have been fairly slow and methodical, but that's how bull market advances work. They tend... READ MORE
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Market Recap for Monday, September 18, 2017 It was another very bullish day on Wall Street as most indices finished with gains once again. The Russell 2000 ($RUT) led the charge with a 0.65% rise. Gains in the Dow Jones and S&P 500 were more modest, but... READ MORE
Market Recap for Friday, September 15, 2017 It was another day of records on Wall Street to close out the week. Despite the peak of seasonal summer weakness approaching, buyers stepped up to the plate once again, this time driving S&P 500 prices to another all-time high... READ MORE
If only it was that easy, right? The problem many times is that a company that reports great results one quarter fails to do so the next. But my strategy is to find companies that not only reported great results in the prior quarter, but also showed major accumulation at... READ MORE
Market Recap for Thursday, September 14, 2017 Consumer discretionary (XLY, -0.54%) was the worst performing sector on Thursday, but you'd never know it from looking at the automobiles or auto parts stocks. The Dow Jones U.S. Automobiles & Parts Index ($DJUSAP) is featured below in the... READ MORE
Sometimes the best moves higher occur after an extended period of sideways price action, or basing. We recently saw a breakout in biotechs ($DJUSBT) and that industry quickly became one of the strongest. The healthcare sector (XLV) also has been among the strongest sectors. It makes sense that other healthcare... READ MORE
Market Recap for Wednesday, September 13, 2017 Wide participation is a key to sustaining a bull market advance. We want as many indices, sectors and stocks on a buy signal as possible. That makes it nearly impossible for bears to regain control of the market as technical buyers show up... READ MORE
Market Recap for Tuesday, September 12, 2017 Financials (XLF, +1.18%) were the primary beneficiary on Tuesday as treasury yields rose. That typically leads to strength in this sector, with particular strength usually seen in banks ($DJUSBK) and life insurance ($DJUSIL). Yesterday was no exception and the DJUSBK is featured... READ MORE
Market Recap for Monday, September 11, 2017 It was a very bullish day on Wall Street. First and foremost, the benchmark S&P 500 rose more than 1% to close at a fresh all-time high. Its previous closing high was approximately 2481. The bulls left no doubt about... READ MORE
Market Recap for Friday, September 8, 2017 The NASDAQ fell on Friday mostly due to a very weak technology sector (XLK, -0.82%). Computer hardware ($DJUSCR) tumbled as Apple (AAPL) closed well below its 20 day EMA on heavier than normal volume for the first time since its big drop... READ MORE
Just a quick reminder that Greg Schnell and I will be hosting StockCharts Outlook webinar for September in one hour, beginning at 11am EST. Please join us if you're available. It's free and you can REGISTER HERE! Happy trading! Tom... READ MORE
Special Announcement Tomorrow's StockCharts Outlook Webinar with Greg Schnell and me will be held at 11am EST. Please join us by registering HERE. Market Recap for Thursday, September 7, 2017 Thursday's action was just further confirmation of a strengthening healthcare group (XLV, +1.11%). The group... READ MORE
Over the past six months, the Dow Jones U.S. Gambling Index ($DJUSCA) has gained 27.35% to lead all consumer discretionary groups. In fact, renewable energy ($DWCREE) is the only industry group among all sectors to outperform gambling stocks. But the short-term outlook for gamble stocks changed on... READ MORE
Market Recap for Wednesday, September 6, 2017 Energy (XLE, +1.63%) has been the clear leader for the U.S. stock market the past week or so, but I'm not a fan just yet of the recent bounce continuing and morphing into an uptrend. Keep in mind that... READ MORE
Market Recap for Tuesday, September 5, 2017 Hurricane Irma may still be well out in the Atlantic Ocean, but its bearish winds are being felt on the shores of Wall Street already. Irma is a monster and is now regarded as the most powerful Atlantic storm ever recorded and it&... READ MORE
Market Recap for Friday, September 1, 2017 The latest government nonfarm payrolls report came and went. The number was a bit disappointing, but the U.S. stock market handled it quite well and the bond market surprisingly sold off. Normally, you'd see traders move into bonds on weak... READ MORE
One of my trading strategies is to trade the best stocks in the best industries at the best price. Sounds easy enough, right? But what does this mean exactly? Well, first I take a top down approach and review every industry group within each aggressive sector - technology, industrials, financials and... READ MORE
Special Note Today marks my 2 year anniversary of writing daily articles here in Trading Places. It's spanned some 500 articles. I love what I do and am completely blessed to be able to write about something I'm very passionate about. I'd like to... READ MORE
I have to admit I love breakouts of long-term basing patterns and the Dow Jones U.S. Auto Parts Index ($DJUSAP) is currently in the midst of the mother of all basing patterns. Dating back to 2014, we've seen a number of price resistance tests that all... READ MORE
Market Recap for Wednesday, August 30, 2017 The U.S. stock market benefited from a lot of the new and a little of the old on Wednesday as the Dow Jones U.S. Biotechnology Index ($DJUSBT) and the Dow Jones U.S. Semiconductors Index ($DJUSSC) posted solid gains to help... READ MORE
Market Recap for Tuesday, August 29, 2017 At Tuesday's open, North Korea and its missile test were the talk of Wall Street. By the close, traders ignored the rising tensions and instead focused on the recent better-than-expected quarterly earnings and the low interest rate environment. U.... READ MORE
Market Recap for Monday, August 28, 2017 The U.S. market was able to rally a bit in afternoon trading on Monday and most of our major indices finished in positive territory - the Dow Jones was the lone exception as that index of 30 conglomerates fell 5 points. Sectors were... READ MORE
Market Recap for Friday, August 25, 2017 Selling in the final hour on Friday contributed to bifurcated action where the NASDAQ tumbled into negative territory while the Dow Jones, S&P 500 and Russell 2000 all managed to hang onto meager gains. Our major indices remain in a downtrend... READ MORE
It's rare when stocks line up bullishly from a technical perspective, in addition to both fundamental and seasonal perspectives as well. But that's exactly what I see when looking at Autodesk (ADSK). Let's start with fundamentals. ADSK just reported its latest quarterly earnings and... READ MORE
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