QQQ TRADES ABOVE 200-DAY LINE...This morning's message showed the Technology SPDR (XLK) and Semiconductor iShares (SOXX) testing their 200-day moving averages. This message focuses on the Nasdaq 100 QQQ which is also trying to clear its 200-day line. Chart 1 shows the Invesco QQQ Trust trading above... READ MORE
STOCK INDEXES CLEAR LATE-MARCH HIGH...The stock market is building on yesterday's strong gain to improve its short- to intermediate trend picture. The daily bars in Chart 1 show the S&P 500 rising above its late-March intra-day peak at 2641 after clearing its green 20-day average... READ MORE
In this episode of DecisionPoint, Carl and Erin look at the current market conditions and the bullish indicators that are appearing in the short- and intermediate-term timeframes. Carl points out that the Bullish Percent Index (BPI) for the S&P isn't a lagging indicator, whereas our Silver... READ MORE
Who is surprised that the two sectors of the Economic Modern Family that broke over the inside week trading ranges are Semiconductors (SMH) and Biotechnology (IBB)? Also, who is surprised that the sectors that did not break over their outside week's trading ranges are everybody else? Like a... READ MORE
S&P 500 MAY BE HEADED FOR TEST OF LATE-MARCH HIGH...Global stocks are starting the week higher. The daily bars in Chart 1, for example, show the S&P 500 gapping higher this morning and clearing its green 2o-day average. The green circle shows the SPX leaving... READ MORE
Glenmark Pharmaceuticals Ltd (NSE) (GLENMARK.IN) Along with underperforming the broader markets, Glenmark Pharmaceuticals has been underperforming the pharma group as well. Over the past couple of weeks, the stock has been consolidating in a 187-215 range while creating a congestion zone. Now, a few signals have appeared that point... READ MORE
Let me first say that arguing the bullish case for U.S. equities immediately puts me in the minority, which also would be my first bullish argument. When the masses believe we have nowhere to go but down, that's typically a sign that a bottom is near. Extreme... READ MORE
I'm personally trading stocks in very limited circumstances, mostly because you can't trust what you see from one hour to the next. While the bigger-picture downtrend remains in play, there's a lot of rotation taking place in stocks beneath the surface. For instance, as... READ MORE
After taking a breather the week before this one, the Indian equity market resumed its downtrend again and ended this week with a net loss. With this week's decline, the NIFTY has, as of now, has declined nearly 35% on a closing basis. A week before, NIFTY had... READ MORE
Major U.S. stock indexes continue to probe for a short-term bottom. The daily bars in Chart 1 show the S&P 500 regaining some lost ground over the last two weeks after falling to the lowest level in three years. But there's still a lot of... READ MORE
In this episode of StockCharts TV'sThe MEM Edge, Mary Ellen reviews the move into select areas of Oil, as well as the bullish move into Gold. She also shares winners and losers in the broader markets, talking trends that are expected to continue over the near-term while highlighting... READ MORE
If there ever was a time to be worried about where the market could be headed, this is it. We've seen the weekly jobless claims go from a boring week-to-week reading of just over 200,000 all the way to now 6 million over the course of a... READ MORE
As we are a couple of months into the Year of the Metal Rat, much of what I posted back on January 19th has come true. Raymond Lo, famous Chinese astrologer, predicted back in November 2019 that, in the Year of the Metal Rat with a water element, "There... READ MORE
Today's ChartWatchers article is an updated excerpt from the DecisionPoint Alert Report for subscribers: I pointed out to my subscribers on Thursday that, with all of the volatility, our short-term indicators seem to be more on point than usual. Below, I've included three indicator charts that... READ MORE
When I was a young man, there was a goofy comedy film called "The Gumball Rally" about a group of cross-country lead-footed auto racers. In an opening sequence, the character racing in his Alfa Romeo sports car jumps into the driver's seat, quickly rips the rear... READ MORE
The S&P 500 went from a historic decline to a historic bounce to an above average drop. This key benchmark fell 33.9% in 23 days, surged 17.55% in three days and then dropped 5.25% the last four days. In fact, the index has experienced nine... READ MORE
DAILY S&P 500 CHART CONTINUES TO STABILIZE...Major U.S. stock indexes continue to probe for a short-term bottom. The daily bars in Chart 1 show the S&P 500 regaining some lost ground over the last two weeks after falling to the lowest level in three... READ MORE
I've been watching in horror at some of the recent economic reports, especially the initial jobless claims, which yesterday sported a second consecutive week above 3 million. It was just a few short weeks ago that we were seeing 200,000-220,000 every week. We live in a... READ MORE
Due to scheduling conflicts, tonight you are getting the levels without commentary. Only one important note - five of the six economic modern family members are having an inside week. That means they are trading inside the range of last week. The Russell 2000 IWM, Transportation IYT, Retail XRT, Semiconductors... 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
Tails that rotate from the leading quadrant into weakening and then back into leading always have my attention. The reason for that is that securities that rotate along such a path are already in a relative uptrend and the rotation from leading, through weakening, back into leading ,eams that another... READ MORE
The market has fallen over 30% from the highs. Maybe you've already called your fund or 401(k) manager and asked to liquidate your losers or the entire account. Here is what you probably heard. "I don't recommend it." That is typically followed by,... READ MORE
The ratio between XLY:XLP, Consumer Staples vs. Consumer Discretionary, has traditionally been a pretty good gauge to get an idea about being in a risk-on or risk-off environment. The chart above shows the XLY:XLP ratio, with the S&P 500 plotted behind it. Around the big turns,... READ MORE
Murphy's Law says that if something can go wrong, it will. Bear Market Rules say that even bullish chart formations are more likely to resolve bearishly, and while reviewing the sector charts this morning, I saw many examples of this. In particular, I saw a lot of broken... READ MORE
In this edition of Trading Simplified, Dave takes a look at where past "Mystery Charts" are now in the current market environment. Additional topics covered include why Abe Lincoln would have been a good trader, Dave's "10% line", the stock market "emotional cycle&... READ MORE
One of my all-time favorite stock market quotes comes from Marian McClellan, the late mother of Tom McClellan: "Some people buy stocks when they have money. Some people sell stocks when they need money. And, others use far more sophisticated methods." Well said, Mrs. McClellan! Markets trade on... READ MORE
I've been spending much of my time lately ignoring the recreational products group ($DJUSRP). And for good reason. This industry ranked 75th in performance out of 104 groups over the period February 19th through March 23rd - the period in which the S&P 500 fell from... READ MORE
My weekly routine involves two important steps. First, in preparation for Friday's edition of The Final Bar, I go through a series of long-term macro charts for my Wrap the Week segment. Second, over the weekend I review the individual stock charts for all the S&P... READ MORE
On this episode of Sector Spotlight, I take a closer look at what's happening in the various Asset Classes. Afterwards, I examine the Utilities sector, as it has a strong seasonality going into April which is now backed by a strong tail/rotation on the RRG. This video... READ MORE
A rift is a crack, split, or break in something. Hence the obvious title question - what is the Fed doing to engender a market multiverse rift? The Fed can only buy securities that the federal government guarantees. What the Fed has done on this round of QE is buy... READ MORE
In this episode of DecisionPoint, Carl and Erin cover a variety of topics. To start, new momentum BUY signals have appeared, but enthusiasm should be tempered based on the bear market technicals. Looking at the DecisionPoint Earnings chart, Carl and Erin examine the concept of "bargains." Finally, they... READ MORE
On this special episode of Real Trading with Larry Williams, Larry presents an in-depth discussion of the Federal Reserve System. In addition to walking you through the history of the Fed and describing its primary functions, Larry shares how and why he changed his stance from anti-Fed to a strong... READ MORE
My background is in public accounting. I spent two decades there and I always like to say that "I never met a spreadsheet that I didn't like!" I love to analyze. I actually enjoy studying numbers and relationships and read into the subtleties of what'... READ MORE
Chartists looking to measure relative performance based on retracements can use the Stochastic Oscillator to quantify these bounces. Way back on March 1st, I posted an article showing how Chartists can quantify downside retracements using Williams %R. For upside retracements or bounces that retrace a portion of the prior decline,... READ MORE
I just had a very sobering conversation via Skype with a good friend/business associate from Italy. We're close. I've spent time in his home several times, and we've had him as our guest here. I'm having a hard time writing today&... READ MORE
We are using Line Charts, as they enable us to take a look at the longer-term structure of the weekly charts. We do this so that we can examine the behavior of the markets against the decade-long trend line, which now stands violated. After a massive decline of over 12%... 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
During tumultuous times like these, I pay particular attention to sentiment levels. Extreme fear tends to mark market bottoms, just as the recent Volatility Index ($VIX) reading above 80 coincided with this week's stock market bottom. It's simply the way bottoms form. However, last week we... READ MORE
The U.S. government passed a coronavirus relief bill today that's thought to be the largest of its kind in history as Washington tries to dampen the sharp economic decline that's expected from the spreading pandemic. While the plan will provide one-time payments to individuals as... READ MORE
I very much enjoyed participating in our StockCharts TV special event "Navigating a Bear Market" along with many of my fellow StockCharts contributors. In this article, I'll provide my comments and charts from that special, along with some brief updates on what has changed in the... READ MORE