* S&P 500 Affirms Weight of the Evidence. * New Highs Expand Yet Again. * Sector Table Improves with Two Bullish Signals. * Healthcare and Technology Lead New High List. * What if you already Knew....? * Art's Charts ChartList Update. ... All Time High Means only One Thing ... The S&P... READ MORE
Market Recap for Thursday, June 20, 2019 More dovish Fed policy is already having its effects. The anticipation of those changed policies has sent investors around the globe into U.S. treasuries, as yields have dropped precipitously since Q4 2018. But yesterday, U.S. equities climbed aboard as the S&... READ MORE
Market Recap for Wednesday, June 19, 2019 Yesterday was Fed day, or Fednesday as one MarketWatchers LIVE viewer said, and U.S. equities liked what the Fed had to say. What it had to say was essentially what most market pundits were expecting - that the word "patient"... READ MORE
Relative Rotation Graphs can be used to visualize the relative movement of much more than just stocks and sectors. In the example below, the RRGshows the relative rotation for the G10 currency universe usingUSD as the base currency.In this case, you will see nine currencies, all expressed in USD... READ MORE
Yesterday, in a DP Bulletin, I covered the new IT BUY signals on the NDX and Dow. We should soon see the Dow's weekly PMO click a new IT BUY signal. That would only leave the Long-Term PMO SELL signals that still linger on the monthly charts. Indicators,... READ MORE
STOCKS GAIN ON EXPECTED RATE CUT... The Fed left rates unchanged today, but dropped the word "patient" from its statement, and gave the strong impression that a rate cut is likely. Fed fund futures are betting on a rate cut in July. That sent bond and stock prices... READ MORE
TRIANGLES ON DISPLAY...Today's earlier message showed the S&P Bank SPDR (KBE) trying to rise above its 200-day moving average. It also mentioned that regional banks were leading today's bank rebound. While drilling down through some regional bank charts, I noticed that many of... READ MORE
HEALTHCARE SPDR NEARS UPSIDE BREAKOUT...Money has been flowing into healthcare stocks since the end of April. And the sector may be on the verge of a bullish breakout. The daily bars in Chart 1 show the Health Care SPDR (XLV) testing its early March intra-day peak at 93.10.... READ MORE
I featured GE in mid-May as it attempted to break out of a falling wedge (DITC on May 15th). The breakout failed as the stock fell back in May, but a higher low formed and a triangle evolved. Overall, some sort of bullish consolidation formed from February to June and... READ MORE
... As a trend-momentum kind of guy, my first task is to find stocks with strong uptrends and this starts with a scan. Chartists looking for scan ideas should first find several visually appealing price charts and then study these charts carefully. Stocks like Autozone (AZO), Gallagher (AJG), Abbot Labs (ABT)... READ MORE
Market Recap for Tuesday, June 18, 2019 It was a day of rallying global equities, especially in the German DAX ($DAX, +2.03%). The DAX ($DAX) moves more in sync with U.S. equities than any other foreign equity market - in my opinion. The long-term positive correlation between the... READ MORE
More changes to report on the DP Scoreboards, as well as a pending signal. Both the NDX and Dow Industrials garnered IT Trend Model BUY signals when the 20-EMA crossed above the 50-EMA for both. You'll note that the Dow is the only one left out on the... READ MORE
* US Breaking Out Against the World * The World Itself Looks to be in Pretty Good Technical Shape * NYSE A/D and Upside/Downside Lines at Record Levels * More Short-Term US Market Indicators Turn Bullish * Multiple Momentum Trend Line Breaks is Very Positive * There Is Always Something to Worry About US... READ MORE
Market Recap for Monday, June 17, 2019 Facebook (FB, +4.24%) announced a platform cryptocurrency with a white paper due out today, while Netflix (NFLX, +3.21%) received positive comments from a Piper Jaffray analyst looking for solid results out next month. That combination lifted communications services (XLC, +1.14%... READ MORE
Technical analysis offers an unbiased truth about the markets. I am writing this article because I have a large number of new readers. I addressed this subject a few years ago. If one is going to follow and utilize a particular discipline, hopefully they have done a thorough investigation as... READ MORE
It has been a rough three months for many biotechs and the Biotech iShares (IBB), but Illumina (ILMN) rose above the crowd with a big gain and three month high. The long-term chart also looks bullish. The table below shows the Biotech iShares and the top ten stocks (sans Celgene)... READ MORE
Market Recap for Friday, June 14, 2019 The big news on Friday was Broadcom's (AVGO, -5.57%) quarterly results and outlook, neither of which were particularly good. AVGO fell short of its revenue estimate and offered a very broad warning regarding upcoming revenues in the semiconductor industry ($DJUSSC,... READ MORE
First of all, let me say that I really appreciate any feedback and comments I get on any of my articles, either via DISQUS below each blog post, via email or in SCAN. I do read all of them and I try to answer most of them, I think my... READ MORE
In yet another wide-ranging week, the NIFTY oscillated in a 400-point range, ending the week with a modest cut. In our previous weekly note, we had raised concerns about the NIFTY failing to confirm the attempted breakout. In line with the our analysis, the index did not show any intention... READ MORE
Sometimes I can be a little slow on the uptake, and the monthly gold chart is the latest example. This week it dawned on me that gold is in its seventh year of forming a bullish saucer, which would be the reverse equivalent of a bearish rounded top. After activating... READ MORE
Viewers of MarketWatchers LIVE know how much I rely on my scans to find all those interesting symbols I review. In a ChartWatchers article last month, I shared my new favorite scan (Bullish EMA | Midrange SCTR), where I adjusted my time-tested "scan to rule them all" and found... READ MORE
At EarningsBeats.com, we track the best U.S. companies in a "Strong Earnings ChartList." In order for a company to be included in our ChartList, they must do 3 things: (1) Beat quarterly revenue estimates (2) Beat quarterly EPS estimates (3) Look solid technically If a company... READ MORE
Editor's Note: This article was originally published in John Murphy's Market Message on Friday, June 14th at 1:20pm ET. Chart 1 is taken from the Sector Summary page for the past month. And it shows that investors are still gravitating toward defensive issues. Four of... READ MORE
Many a pundit considers small-caps as the canaries in the coal mine and this implies that relative weakness in small-caps is negative for the broader market. As Missanei of Game of Thrones might say: It is known. Known, yes, but is it actually true? In the interest of full disclosure,... READ MORE
The mountaineers “Essential 10 Checklist” is seared into the memory of every serious hiker and climber. Why? Because it may literally determine life or death. Similarly, every investor's financial life or death is determined by what I am calling the “Investors Essential 10 Checklist”. Both checklists are comprehensive.... READ MORE
MONTHLY PERFORMANCE SHOWS DEFENSIVE LEADERSHIP...Chart 1 is taken from the Sector Summary page for the past month. And it shows that investors are still gravitating toward defensive issues. Four of the top sectors are utilities, health care, real estate, and consumer staples. All four are defensive in nature. Even... READ MORE
* The Long and Rocky Road. * S&P 500 Maintains Bullish Bias. * Index Breadth Table Improves. * MDY and IWM Break Out of Wedges. * Sector Breadth Table Gets Four New Signals. * Healthcare Perking Up. * Big Six Sectors Trigger Breakouts. * Utes, REITs and Staples Remain Strong. * Art's Charts ChartList Update.... READ MORE
Market Recap for Thursday, June 13, 2019 A nice rally to end the session lifted all of our major indices into the close. The Russell 2000 led on a relative basis, gaining 1.05%. The NASDAQ, S&P 500 and Dow Jones climbed 0.57%, 0.41%, and 0.... READ MORE
GOLD MINERS ETF NEARS TEST OF 2019 HIGH...Yesterday's message wrote about the price of gold being in the late stages of a potential bottoming formation. It also suggested that three intermarket forces were working in gold's favor. They include a weaker dollar, falling interest rates,... READ MORE
Market Recap for Wednesday, June 12, 2019 We ended Wednesday with bifurcated action as the small cap Russell 2000 ($RUT, +0.05%) was able to eke out a tiny gain. The other major indices, however, were not so fortunate with the NASDAQ ($COMPQ, -0.38%) falling a bit more than... READ MORE
* Long-term Uptrend Still Dominates. * SPY Holds Wedge Breakout and 50-day. * Biotech ETFs Firm in Reversal Zones. * Chinese ETFs Diverge. * Art's Charts ChartList. * On Trend on SCCTV and Youtube. ... Long-term Uptrend Still Dominates ... Let's break down the S&P 500 by starting with the bigger trend.... READ MORE
The Relative Rotation Graph for US sectors shows the sector Real Estate (XLRE) inside the weakening quadrant, but that sector moving upward (almost vertically) on the JdK RS-Momentum scale. This type of rotation usually indicates that a second (or third, etc.) leg of a relative uptrend is about to get... READ MORE
Today's Scoreboard shows a few changes, but I'm afraid these new BUY signals are arriving late. The NDX finally caught up with short-term BUY signals, and today we saw the SPX click a new IT Trend Model BUY signal when the 20-EMA crossed above the 50-EMA.... READ MORE
A WEAKER DOLLAR INCREASES APPEAL OF GOLD... The brown monthly bars in Chart 1 show the price of gold forming a potential bottoming formation that started nearly four years ago when it hit bottom in late 2015. Since then, the price of bullion has traded between that low and a... READ MORE
Market Recap for Tuesday, June 11, 2019 It wasn't a big down day, but it certainly felt like it. It started off so promising. Right out of the gate, the NASDAQ surged more than 1% in the opening minutes. However, by day's end, it closed in... READ MORE
It has been a tough three months for most auto stocks with the Global Auto ETF (CARZ) falling around 1.22%. In contrast, the S&P 500 SPDR (SPY) is up 4.21% since March 11th. Within the group, Ford (F) Daimler-Chrysler (DDAIF) and Toyota (TM) show gains during... READ MORE
BOTH McCLELLAN BREATH INDICATORS TURN UP... Chart 1 includes two breadth indicators that work together. Both are compared to the NYSE Composite Index (upper box). The dashed line in the lower part of the chart plots the McClellan Summation Index. That's a long term measure of market breadth.... READ MORE
Market Recap for Monday, June 10, 2019 U.S. equities were buoyed by resolution to the 5% Mexico trade tariff announced recently by President Trump to encourage Mexico to slow the pace of illegal immigrants entering the U.S. That tariff was set to take effect yesterday, but never materialized.... READ MORE
Gold and the Dollar are natural adversaries. They both represent a store of value. When the Dollar is strong, in comparison to other currencies, gold tends to underperform. Recently the Dollar has been a dominant currency, largely as a result of the strong domestic economy and higher interest rates. There... READ MORE
On Friday, $INDU logged both a Short-Term Trend Model BUY Signal and a Price Momentum Oscillator (PMO) BUY signal. Today, the SPX and OEX joined the party. The NDX is extraordinarily close to those same BUY signals and should switch tomorrow. Notice that, on price, today's high pierced... READ MORE