Yesterday, I wrote about the new IT Trend Model BUY signals that are now resident on all four Scoreboards. I also noted that what used to be bearish rising wedges have become rising trend channels. Today, the Dollar posted an ST PMO BUY signal, an ST Trend Model BUY signal... READ MORE
Question: When can “overbought” be a good thing? Answer: When something becomes really overbought. Allow me to explain. The Relative Strength Index (RSI) is one of the most common ways to measure price momentum, ranging from 0 to 100. When the RSI becomes overbought, the price has risen too high... READ MORE
S&P 500 AND NASDAQ ARE TESTING 200-DAY AVERAGES ... It seems that everyone is watching 200-day moving averages. That's because the strong rebound since the end of December has pushed major U.S. stock indexes back to that overhead resistance line. What they do there should help... READ MORE
This article expands on the pair analysis discussed in the previous article. In that article I showed a simple process of trading a ratio of non-correlated ETFs, in particular the S&P 600 Small Cap (IJR) and the BarCap 7 to 10-year Treasury ETF (IEF). Using a 4% trigger... READ MORE
Market Recap for Tuesday, February 5, 2019 Tuesday was Groundhog Day for those that have seen the movie starring Bill Murray. It was a repeat of what we've seen throughout earnings season. We heard a somewhat disappointing outlook from a market leader, in this case Alphabet (GOOGL, +0.... READ MORE
The Broker-Dealer iShares (IAI) led the market rebound from December 24th to January 18th and then stalled out over the last two weeks. As with the broader market, we can see two conflicting trends. The long-term trend is down because IAI hit a 52-week low in late December, remains below... READ MORE
Chartists looking for the sectors with the most stocks in strong uptrends can turn to the High-Low Percent indicators. High-Low Percent equals new 52-week highs less new 52-week lows divided by total issues. This indicator is positive when new highs outnumber new lows and negative when new lows outnumber new... READ MORE
Just a quick bulletin to let you know that the SPX, OEX and NDX have triggered new IT Trend Model BUY signals. Though Dow got off to a head start, they are now all in line. The weekly PMO determines the IT PMO signal, which are not quite close enough... READ MORE
* Three Major Averages are at their 200-Day MAs * The NYSE Has Been Declining for a Year * Will There Be Another Whipsaw? Today, of course, is the State of the Union Address, but for the markets it might well be the “State of the 200-Day Moving Average,” as that’s the... READ MORE
S&P 500 NEARS TEST OF 200-DAY MOVING AVERAGE... The daily bars in Chart 1 show the S&P 500 nearing a test of its 200-day moving average (red line). That's an important test for it and rest of the stock market. A strong stock market... READ MORE
Market Recap for Monday, February 4, 2019 Technology (XLK, +1.60%) led another broad-based rally on Wall Street Monday as all of our major indices closed higher. There was particularly strong action on the aggressive NASDAQ and Russell 2000 as they gained 1.15% and 1.03%, respectively. 9 0f... READ MORE
After experiencing a brutal decline that began in September 2018, the NIFTY found support just below the 10000 mark and witnessed a technical pullback. This technical pullback halted near the 10950 level in early December 2018. Over the following two months, the index hit resistance multiple times and has remained... READ MORE
The overall trend for Amazon shifted from bullish to bearish in October and RSI caught this shift. Before looking at RSI, let's review price action and the bigger trend at work. The chart shows Amazon moving to a new high in early September, forming a lower high in... READ MORE
Market Recap for Friday, February 1, 2019 I'm sure I wasn't the only one thinking that the market was doomed on Friday after Amazon.com (AMZN, -5.38%) disappointed traders with its outlook during Thursday's after hours trading. After all, AMZN is a Wall... READ MORE
* Extended but Not Overbought. * SPY and QQQ Form Doji. * %Above 20-day EMA Holds Strong. * 4 Sector SPDRs above their 200-day SMAs. * On Trend on StockChartsTV. ... The stock market is in a tricky spot because the short-term uptrends are quite extended and the long-term trends are still down. The chart below... READ MORE
In August of 2018 Wyckoff Power Charting published a monthly chart of the continuous contract of Gold ($GOLD). A very large Accumulation structure appeared to be forming after a cyclical bear market. Meanwhile a downtrend (see the Supply Line) had been in control for more than seven years. In that... READ MORE
The Market Roundup Video For February is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion ofPring Turner Capital Groupof Walnut Creek or its affiliates.... READ MORE
I love the seasonality tool here at StockCharts.com. It can potentially give you an advance notification of a price move before it happens. One of the more striking seasonal tendencies that I've seen has been the unbelievable historical performance of Bookings Holdings (BKNG) from January through May,... READ MORE
This article was published in the RRG blog on 31 January and takes a look at the Bloomberg Commodity Index Groups through the lens of a Relative Rotation Graph. When possible, I prefer to use data-sets that come from the same family and creating a "closed universe." This... READ MORE
We mentioned in our previous weekly note that, due to expiry of the January series and interim budget, the markets would remain more volatile than usual over the past week. While the expiry day did not bring in any volatility, the last session of the week remained immensely volatile on... READ MORE
One's outlook often depends on one's timeframe. This outlook can also be influenced by recent price action or a recency bias. The S&P 500 surged 7.87% in January and recorded its biggest monthly advance since October 2015. This surge, however, was preceded by... READ MORE
Editor's Note: This article was originally published in John Murphy's Market Message on Thursday, January 31st at 12:34pm ET. Chart 4 shows the Consumer Discretionary SPDR (XLY) trading above its 200-day line in today's trading. That a positive sign for the economically-sensitive sector... READ MORE
On Thursday, on expanding volume, SPY broke above the declining tops line drawn from the October Top, and at the same time it broke above the 200EMA. Then on Friday the SPY 20EMA crossed up through the 50EMA causing the IT Trend Model to change from NEUTRAL to a BUY... READ MORE
We're now deep into earnings season, with hundreds of companies reporting last week alone. The reaction to earnings so far has been mostly positive - witness the nice move higher in the market. But we've also seen some earnings misses, with those companies taking it on... READ MORE
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