Calling all scanners! The biggest thing since sliced bread has just hit the Advanced Scan Workbench. Last week, we released a major upgrade to our premier scanning tool – the Advanced Scan Editor. This useful addition to the Advanced Scan Workbench is designed to make it both easier and faster to... READ MORE
Today, we had a new Intermediate-Term Trend Model (ITTM) BUY signal trigger on the Dow Industrials ($INDU). Additionally, the SPY (which is not on the Scoreboards) triggered a new ITTM BUY signal as well. Be sure to read Carl's DP Weekly Wrap for this week to read about... READ MORE
“Yes, the fountain of youth really does exist, and academic research is increasingly proving it to be found amidst your investment portfolio. A growing body of scholarly research shows that, in many ways, life can get better as we get older and being an active investor can contribute in significant... READ MORE
* Putting January Into Perspective. * Still Below December High. * Another Reversal Zone Appears. * SPY and the Pennant Breakout. * Participation begins the Wane. * REITs, Utes and Healthcare Lead New Highs. * XLU Extends on Breakout. * Charts that Make me Throw my Hands Up. * Choosing Another Timeframe. * The Powell Put Comes to Life. * Homebuilders... READ MORE
Market Recap for Thursday, January 31, 2019 Wall Street surged again on Thursday, buoyed by additional strong earnings reports and surprisingly strong forecasts by a couple of influential names. Facebook (FB, +10.82%) and General Electric (GE, +11.65%) were two of the leaders on the S&P 500.... READ MORE
THE DOW IS THE FIRST TO REACH ITS 200-DAY AVERAGE... The stock rally that began right after Christmas is continuing today. Major stock indexes have been heading up to challenge potential overhead resistance at their 200-day moving averages. Chart 1 shows the Dow Industrials being the first major stock index... READ MORE
In this article, we are going to take a look at commodities using Relative Rotation Graphs and the Bloomberg commodity index family. When possible, I prefer to use data-sets that come from the same family and creating a "closed universe." This is a universe where all securities on... READ MORE
Lupin Limited (LUPIN.IN) * LUPIN.IN marked a double top at the 2070-2092 level in October 2016 and has since remained in a corrective downtrend. After trading in a falling channel during this corrective phase and wiping out over 50% of its value, the stock has attempted to find a... READ MORE
Market Recap for Wednesday, January 30, 2019 Wall Street had much to digest yesterday. There was fresh jobs data as the January ADP employment report was released. The news was much better than anticipated. There was the Apple (AAPL) earnings report from Tuesday evening. While the numbers reported were mostly... READ MORE
I remember following Martin Zweig years (decades) ago and in fact used one of the techniques he described in his book, “Winning on Wall Street,” in the mid-1980s' (1984 to be exact). In it he described a really simple technique using his unweighted index (ZUPI); trading it on a... READ MORE
The Relative Rotation Graph for US sectors shows a remarkably steady rotation for the Real-Estate sector. This is a daily RRG showing a 15 day tail, or three weeks. Yesterday XLRE crossed over into the leading quadrant and is now the only sector inside the leading quadrant at a solidly... READ MORE
The market rallied nicely this morning. It started by pulling back slightly, before the less hawkish announcement that came out of the FOMC resulted in the rally pushing higher. DecisionPoint Scoreboards point to short-term strength, with BUY signals in the short term. The IT Trend Model BUY signal became official... READ MORE
GOLD ETFS ARE IN RALLY MODE ... Today is Fed day which could have an impact on several markets. The Fed isn't expected to raise its short-term rate today. But what it says after the meeting could have an impact. Two things are being watched very closely. The first... READ MORE
Autozone (AZO) is a leading stock because it recorded a 52-week high in December and remains above the rising 200-day SMA. The S&P 500, on the other hand, recorded a 52-week low in December and remains below its 200-day SMA. The chart below shows AZO with a falling... READ MORE
Market Recap for Tuesday, January 29, 2019 It was a bifurcated and trying day on Wall Street. Bifurcation isn't necessarily a bad thing as some indices will simply outperform others on certain days and short-term trends in that regard can mostly be ignored. But one problem throughout this... READ MORE
* Moving into the Prior Battle Zone. * Pennant versus Gap for SPY. * Lowest Close in two Weeks for QQQ. * IWM Holds Up the Best. * Divide and Conquer with Sector Analysis. ... Moving into the Prior Battle Zone ... It's a mixed-up world out there as two trends compete and the major... READ MORE
Last week, the Consumer Discretionary/Cyclicals SPDR posted a new Intermediate-Term Trend Model (ITTM) BUY signal. Today, the Financial SPDR (XLF) joined in with its own ITTM BUY signal. In the long term, we can see that the only sectors with Long-Term Trend Model (LTTM) BUY signals are the defensive... READ MORE
* The Long-Term Trend for Commodities Remains Bearish * What the Stock Market is Telling Us About Commodities * Short-Term Picture Not So Strong Recently, we have seen several reports of a weakening economy. These include a sharp drop in both the University of Michigan and Conference Board consumer sentiment and confidence numbers,... READ MORE
I’ve written several articles regarding seasonal trends in the markets, including the four-year Presidential Cycle, the “Sell in May” phenomenon, and even general thoughts on cyclical patterns in price. This time of year, we’re faced with a very interesting anomaly known as the January Barometer. This is different... READ MORE
Market Recap for Monday, January 28, 2019 It seemed like the bears let a perfect opportunity slip right through their fingers yesterday. Caterpillar (CAT, -9.13%) reported their latest quarterly earnings before the bell and they weren't pretty. Despite beating revenue estimates, CAT posted EPS well below estimates... READ MORE
Last week (Monday) I featured an evening star reversal pattern in QQQ. This pattern did not foreshadow further weakness as QQQ firmed in the 161 area the next day and gapped up on Friday. This gap did not last long as QQQ gapped down on Monday morning and filled Friday&... READ MORE
* Big Four Retake 50-day SMAs. * %Above 200-day Lags for XLP. * 52-week Highs for 22 REITs. * Jobless Claims Hit 40+ Year Low. * TLT Stalls between Key Levels. * Dollar Fails to Hold Breakout. * Gold Breaks out of Small Consolidation. * Shanghai Composite Forms Potential Double Bottom. * Delta Turns Indecisive. * Tesla Goes from Leader... READ MORE
Market Recap for Friday, January 25, 2019 Our major indices rallied strongly on Friday, with 9 of 11 sectors rising to support the move. Only two defensive sectors - utilities (XLU, -1.37%) and consumer staples (XLP, -0.40%) failed to participate in the advance. Leading the charge was materials... READ MORE
Bharat Petroleum Ltd. (BPCL.IN) * Having formed a bottom at 238.55 following a steep fall from 383.80, the stock has since formed gradual higher bottoms. Presently it remains in an Ascending Triangle pattern, which is a bullish formation. * The RS Line, when compared against broader CNX500 is rising;... READ MORE
In spite of all expectations, NIFTY remained volatile and did not make any directional call over the previous week, oscillating in a defined 230-point range throughout. However, on the weekly charts, the NIFTY has been able to keep its head above the 50-Week MA, which is 10757. Additionally, the market... READ MORE
Last week we were focused on the SPY rising wedge formation, the technical expectation for which was that it would break down. Well, on Tuesday it did break down, but there was no follow through afterwards. Instead, it moved sideways for two days, then rallied on Friday, challenging Monday'... READ MORE
* Big Move within Bigger Downtrend. * The Bullish Turn of the Month. * S&P 500 Could Challenge 200-day. * Junk Bonds Surge to Breakdown Zone. * Key Supports for Big Six Sectors. * Bull Flags in ITB and XHB. * Bonds Turning Up ahead of Fed. * International ETFs Outperforming S&P. ... Big Move... READ MORE
MAJOR U.S. STOCK INDEXES HEAD TOWARD 200-DAY AVERAGES ... My Wednesday message expressed concern that several stock indexes were in danger of falling back below their 50-day averages, which would have put their January rebound in jeopardy. As today's first three charts show, however, the blue 50-day lines... READ MORE
Market Recap for Thursday, January 24, 2019 Semiconductor stocks ($DJUSSC, +5.10%) soared after a few key earnings reports in the group came in better than expected. Xilinx (XLNX, +18.44%) and Lam Research (LRCX, +15.70%) were two of the best performers, but their results lifted much of the... READ MORE
The Relative Rotation Graph for US sectors is showing a split picture. On the right, we have Utilities, Real-Estate, Consumer Staples and Healthcare. With the exception of Real-Estate maybe, these are generally accepted as "defensive" sectors. All other sectors (7) are positioned to the left of the benchmark... READ MORE
SEMICONDUCTOR ISHARES TURN UP... My message from yesterday showed semiconductor stocks under selling pressure. In today's trading, however, semis are having a very strong day and are the day's strongest stock group. Chart 1 shows the PHLX Semiconductor iShares (SOXX) jumping 5% to reach the highest... READ MORE
Note I'm traveling today so my article will be abbreviated. Market Recap for Wednesday, January 23, 2019 It was a fairly volatile session on Wednesday as U.S. indices opened higher, but quickly fell fairly deep into negative territory before rallying in the afternoon. Only the small cap... READ MORE
One of the pages that I often visit on Stockcharts.com is the sector summary. It gives a tabular overview of the price changes that occurred over a certain period (you can choose). From that page, it is possible to open a Relative Rotation Graph that breaks the sector down... READ MORE
The DecisionPoint Scoreboards are all bullish in the short term. The bearish rising wedge executed yesterday and the indicators are supporting a decline in the shorter term. The DecisionPoint Alert presents a mid-week assessment of the trend and condition of the stock market (S&P 500), the U.S.... READ MORE
* SPY Forges a Gap-Gap Reversal * What Makes this Wedge Break Significant? * TLT Turns up from Oversold Levels. * XLC is the First to Break. ... The mood of the market appears to be changing as stocks weaken and bonds strengthen. It looks like short-term trends are trying to reverse. The first chart... READ MORE
A LOT OF MOVING AVERAGES ARE BEING TESTED... Recent messages have focused on major U.S stock indexes reaching overhead resistance barriers which could slow their January advance; or maybe even end it. All of those major stock indexes remain below their 200-day averages; while their 50-day lines remain below... READ MORE
Market Recap for Tuesday, January 22, 2019 Energy (XLE, -2.18%), communication services (XLC, -2.07%) and industrials (XLI, -2.07%) all fell more than 2% on Tuesday as Wall Street had its first significant retreat since the day that Apple (AAPL) warned. Late day buying cut into losses as... READ MORE
Despite a 15% surge the prior 17 days, the Nasdaq 100 ETF (QQQ) remains below its flattening 200-day SMA and the ETF formed a rare evening star candlestick pattern over the last three days. First and foremost, I think the long-term trend is down for QQQ. The ETF recorded a... READ MORE
GLOBAL STOCKS SELL OFF WHILE BONDS RALLY... Stocks all over the world turned lower today. And they're doing it at a bad time. That's because the recent rebound has taken major U.S. stock indexes up to some formidable overhead resistance barriers. And they may be... READ MORE
Because the Wyckoff Methodology identifies elements of structure and context within price (Accumulation and Distribution schematics and Phase Analysis), it naturally strengthens the attribute of patience in its user. There is a time to watch, a time to act, and a time to sit in a trending trade. Horizontal Point... READ MORE