Market Recap for Monday, April 24, 2017 Global markets rallied on the heels of French election results and U.S. markets were no exception. We surged right out of the gate and didn't look back. The NASDAQ flirted with the 6000 level before settling for an all-time... READ MORE
Market Recap for Friday, April 21, 2017 The S&P 500 trended lower from midday Thursday through Friday's close and that extended a much longer downtrend that began after the gap higher back on March 1st. Futures are very bright green this morning, however, so we could... READ MORE
Market Recap for Thursday, April 20, 2017 We've yet to see the breakouts in our major indices that we're looking for, but yesterday's rally was quite bullish with leadership coming from the small cap Russell 2000 ($RUT, +1.24%), financials (XLF, +1.69%) and... READ MORE
Our major indices have been consolidating for many weeks and that's enabled many individual stocks to consolidate in bullish continuation patterns. Dycom Industries (DY) is one such stock as it formed a long-term cup from early-August to late-February before printing a handle throughout March. The... READ MORE
Market Recap for Wednesday, April 19, 2017 The U.S. equity market enjoyed strong early gains on Wednesday only to see them mostly evaporate throughout the balance of the session. The Dow Jones lagged badly all day as one of its components - IBM (-4.92%) - disappointed Wall Street with its... READ MORE
Market Recap for Tuesday, April 18, 2017 The Dow Jones U.S. Industrial Suppliers Index ($DJUSDS) tumbled more than 6% on Tuesday as the group absorbed its second earnings shock in the past week. W.W. Grainger (GWW) came up short of its earnings expectations, then lowered guidance and traders... READ MORE
Market Recap for Monday, April 17, 2017 If you're in the bullish camp, you have to be breathing a sigh of relief following yesterday's action. It was only one day, but after the bulls' grip on the market really seemed to be slipping at the... READ MORE
Market Recap for Thursday, April 13, 2017 The big news on Thursday - at least technically - was the breakdown in the 10 year treasury yield ($TNX) to its lowest close since early November. Most traders have been expecting continuing economic strength based on wisdom from the Federal Reserve. However, price action... READ MORE
At the time of the last ChartWatchers article, I didn't really see a whole lot to be nervous about. However, the bullish picture certainly is getting a bit murkier based on developments since then. After a very strong ADP employment report on April 5th, most everyone was expecting... READ MORE
Market Recap for Wednesday, April 13, 2017 It was another day of not-so-great action in the U.S. stock market on Wednesday as our major indices finished lower as this lengthy period of frustrating consolidation continues. A problem is definitely brewing, though, as the Volatility Index ($VIX) pushes... READ MORE
Market Recap for Tuesday, April 11, 2017 The Volatility Index ($VIX) hit its lowest level since mid-November on Tuesday, nearly reaching 16 before backing off and closing at 15.07 and up 7.26% on the session. That development is significant because the S&P 500 has remained... READ MORE
Market Recap for Monday, April 10, 2017 It was a back and forth kinda day on Wall Street with the finish coming up fairly flat with minor gains across the board. Tesla (TSLA) and Harley Davidson (HOG) were winners and helped lead automobiles ($DJUSAU) to leadership in the consumer discretionary... READ MORE
Market Recap for Friday, April 7, 2017 Consumer staples (XLP, +0.27%) and healthcare (XLV, +0.18%) were the sector leaders on Friday as our major indices finished near the flat line. Money rotated a bit towards defensive stocks, although utilities (XLU, -0.43%) failed to follow its defensive counterparts... READ MORE
Kratos Defense & Security Solutions (KTOS) has been in a steady uptrend for the past 15 months and its SCTR (StockCharts Technical Rank) has risen back above 70, suggesting that KTOS is becoming more attractive relative to its peers. It does still have plenty of technical work to do as... READ MORE
Market Recap for Thursday, April 6, 2017 Yesterday, we saw better relative action on the Russell 2000, a positive for equities. However, that has not been the case over the past week as you can see from the chart below: There's been a slight uptrend in Dow stocks... READ MORE
Charter Communications (CHTR) extended its multi-year uptrend in late January with a heavy volume gap higher. CHTR spent the next several weeks consolidating and unwinding very overbought conditions. But the stock began to resume its prior strength after its RSI touched the 40s (black arrow below) and its MACD... READ MORE
Market Recap for April 5, 2017 The release of the FOMC minutes was widely anticipated to see if there were any hidden nuggets of information from the last Fed meeting. Traders apparently were not happy that the Fed is discussing an unwinding of its balance sheet earlier than expected. That... READ MORE
Market Recap for Tuesday, April 4, 2017 U.S. equities opened lower on Tuesday, but steadily marched higher throughout the day, finishing with mostly small gains across the board. The small cap Russell 2000 was an exception as it fell for a second consecutive session. That follows a winning streak... READ MORE
Market Recap for Monday, April 3, 2017 It was a rough day on Wall Street to open the month of April, but an afternoon rally did minimize any damage technically. The Russell 2000, the recent leader among our major indices, was trampled and lost 1.17%, while the Dow Jones... READ MORE
Special Announcement I'm very excited to announce the beginning of our new StockCharts.com show featuring me and Erin Heim. We'll have fun covering the global markets, discussing stocks on the move, providing technical analysis education and highlighting the various tools available here at StockCharts, among... READ MORE
Bullish rotation continues in most areas of the market and we saw a perfect example of that last week in the Dow Jones U.S. Defense Index ($DJUSDN). The DJUSDN had a HUGE month in February, gaining roughly 6.5% in that month alone. That swamped the benchmark S&... READ MORE
Many market pundits on CNBC continue to predict a market top, discussing how we've run too far too fast and that valuations are too high and blah, blah, blah. Fear sells and CNBC is all about their ratings and advertisements. There's an occasional nugget of solid... READ MORE
Market Recap for Thursday, March 30, 2017 It was another strong day on Wall Street Thursday as six sectors advanced while only three declined - utilities (XLU, -0.78%), consumer staples (XLP, -0.20%) and energy (XLE, -0.02%). The four "power" sectors, the aggressive groups, finished 1-2-... READ MORE
ConocoPhillips (COP) saw its SCTR soar nearly 47 points after an 8.81% increase in its stock price broke its four month downtrend. COP's strength began earlier this week on a reversing candle at gap support and culminated with today's breakout. Here's the chart:... READ MORE
Market Recap for Wednesday, March 29, 2017 We haven't discussed leadership from retail (XRT) in quite some time, but we saw many retailers outperforming on Wednesday. The obvious question is whether this leadership will continue for an extended period. Well, first keep in mind that retail typically excels... READ MORE
Market Recap for Tuesday, March 28, 2017 The bullish action couldn't have been much better on Tuesday. Money clearly rotated back to aggressive areas of the market as the Dow Jones advanced for the first time in the last nine trading sessions. This bullish rotation will be key... READ MORE
Market Recap for Monday, March 27, 2017 It was yet another bifurcated day in the market with the Dow Jones losing ground for the eighth straight session and the S&P 500 joining the Dow in negative territory. For the second consecutive session, the NASDAQ and Russell 2000 bucked... READ MORE
Market Recap for Friday, March 24, 2017 Friday was another day of bifurcated action with both the NASDAQ and Russell 2000 higher while the Dow Jones and S&P 500 lagged and finished lower. Sector performance wasn't any better with four sectors higher and five lower. To... READ MORE
Stocks that combine poor fundamentals, technicals and seasonal weakness are probably stocks to avoid. QUALCOMM Inc. (QCOM) is one such stock as it was hit in January with multiple lawsuits and Apple's (AAPL) suit against QCOM really damaged the QCOM chart technically. Here's a look at... READ MORE
Market Recap for Thursday, March 23, 2017 The Russell 2000 gained on Thursday while the other major indices declined slightly due to a selloff in the final three hours. Six of nine sectors finished in negative territory, led by energy (XLE, -0.41%). Oil & equipment services ($DJUSOI) led the... READ MORE
The Russell 2000 has been under selling pressure but is now testing key support on both its daily and weekly charts. There is a slight negative divergence that's present on its weekly chart, so that would be a signal of possible weakness ahead. The good news is that... READ MORE
Market Recap for Wednesday, March 22, 2017 A strong technology sector (XLK, +0.63%) helped to lift the NASDAQ to moderate gains while the other major U.S. indices waffled near the flat line on Wednesday, a day after equities experienced their sharpest selling of 2017. From a bullish perspective,... READ MORE
Market Recap for Tuesday, March 21, 2017 After months of steady gains, Tuesday's action was painful with eight of nine sectors lower - the utilities sector (XLU, +1.39%) was the lone exception. Further, our major indices were led to the downside by the more aggressive Russell 2000, which... READ MORE
Market Recap for Monday, March 20, 2017 Financials (XLF, -0.73%) led the market lower on Monday as short-term price and gap support was lost on one of the best performing sectors since the early November run. While I don't view this as a big technical development... READ MORE
Market Recap for Friday, March 17, 2017 It was another bifurcated day in the market on Friday as rotation continued. The Dow Jones and S&P 500 both posted minor losses while the Russell 2000 led with a 0.40% gain. Utilities (XLU, +0.60%) and industrials (XLI, +0.... READ MORE
Over the past year, the Dow Jones U.S. Apparel Retailers Index ($DJUSRA) has been one of only four industry groups in the consumer discretionary space that has posted a loss. And over the past three months the DJUSRA is the worst performing area of consumer discretionary. But keep in... READ MORE
Market Recap for Thursday, March 16, 2017 Home construction ($DJUSHB) continued its torrid pace of recent gains, rising another 2% on Thursday. Since January 23rd, the DJUSHB has jumped roughly 20%. That's a great year by any measure, yet we're only talking the past two months... READ MORE
Oracle Corp (ORCL) needed a solid earnings report last night after the closing bell to reach all-time highs and it delivered exactly that. ORCL posted both top line and bottom line (.63 vs .57) results that exceeded Wall Street consensus estimates and this morning's open cleared price... READ MORE
Market Recap for Wednesday, March 15, 2017 The Federal Reserve's latest policy meeting has come and gone. As expected, the FOMC announcement at 2pm EST indicated that rates would be hiked another quarter point. But the real question was whether the Fed would turn more hawkish on future... READ MORE
Special Webinar Announcement Please join me at noon EST for my Bowley Briefing webinar. It'll be a special one hour format and I'll be joined by Erin Heim. Many of you may know Erin from all of her Decision Point work here at StockCharts.com. We&... READ MORE