In our note on "Sector-in Focus: NIFTY Pharma", we discussed about the NIFTY Pharmaceutical Index coming out of a multi-year year downtrend and potentially reversing its trend. In the first Relative Rotation Graph (RRG) above, though the $CNXPHARMA has slowed down a bit on the relative momentum front,... READ MORE
Subscribe For FREE Below If you enjoy my daily blog article that summarizes recent action, current outlook and provides a historical perspective, please subscribe below. It's 100% FREE, no strings attached, and is much appreciated. Simply scroll to the bottom of my article and type in your email... READ MORE
A couple of weeks ago I wrote about all the various types of technical analysts (Technical Analysts!); in this article I add to that list the authors and newsletter writers. Authors Well, I’ve written four books, two were essentially research projects (Candlestick Charting Explained and The Complete Guide to... READ MORE
On Friday, after the market closed, the Dow saw its Price Momentum Oscillator (PMO) on the weekly chart sink below its signal line, generating an IT PMO SELL signal. Today, insult was added to injury as a new IT Trend Model Neutral signal triggered. At this point, the only "... READ MORE
Citigroup (C) is leading the Financials SPDR (XLF) lower with a lower high in September and a rising wedge break in October. The chart shows weekly bars for Citigroup over the last three years. The stock led the market higher in 2016 and 2017 with a gain exceeding 100% from... READ MORE
Special Note I will be joining John Hopkins, President of EarningsBeats.com, for a special webinar later this afternoon at 4:30pm EST. I will be discussing my trading strategy during a volatile market like the one we have now, including some tips and tricks to manage risk during these... READ MORE
Nifty Pharmaceutical Index - NIFTYPHARMA ($CNXPHARMA) marked its high at 14,020 on 6th of April 2015 and since then it has remained in a falling channel under a corrective downtrend which has lasted over 3 years. After remaining in a corrective downtrend for over 3 years, it has shown... READ MORE
There are plenty of reasons why we should be cautious given the current market environment, but I'm not in the camp that believes we've entered a bear market. It's simply too early to make that call, in my opinion. Most corrections and bear markets... READ MORE
If you've explored the member dashboard, read a DP Alert or checked into the DecisionPoint Chart Gallery, you are likely familiar with our DecisionPoint Scoreboards for the SPX, OEX, INDU and NDX. What you may not have uncovered was our DecisionPoint Sector Scoreboard. Carl assembled a table that... READ MORE
Headwinds have been forming for the stock market. Point and Figure counts (PnF) have been signaling where these opposing forces to higher stock prices were likely to emerge. Stocks have reacted downward with authority after hitting these PnF targets. Let’s review, and bring current, some of these prior chart... READ MORE
S&P 500 CONTINUES TO TEST MAJOR SUPPORT LINES... After a rebound attempt on Tuesday, stocks ended the week pretty much where they started, but on the defensive. The daily bars in Chart 1 show the S&P 500 Large Cap Index closing Friday right on its 200-day... READ MORE
Editor's Note: This article was prepared jointly by Julius de Kempenaer and Arthur Hill with assistance from members of the StockCharts data and business teams. You may have noticed that in September, a lot was written about the changes in sector classifications that were implemented after the close... READ MORE
Though the week that went by saw lot of volatility, it remained particularly fruitless for the Markets. What was gained in the week before was given back this week. There was enough room for the Markets to pullback up to 10700. This week saw the levels of 10710 being tested... READ MORE
One of my favorite methods for analyzing the sector SPDRs is with CandleGlance charts sorted by the Rate-of-Change indicator to rank performance. This is a great way to quickly separate the leaders from the laggards and analyze short-term price action. The charts below show the 11 sector SPDRs and the... READ MORE
Despite a great rally on Tuesday, a sharp decline on Thursday took it all back, and the market finished the week barely changed. This was an options expiration week, so I think that probably had something to do with it. As of last week, I was expecting some chop in... READ MORE
Editor's Note: This article was originally published in John Murphy's Market Message on Thursday, October 18th at 5:00pm ET. My last two messages spelled out a lot of technical reasons that are bearish for the stock market, and increase the odds that the nine-year bull... READ MORE
The market has been under fire for the past two weeks. Volatility has spiked. Traders have bailed as they've sold on rallies. Bad news is bad news. Good news is bad news. No one wants to touch stocks! We can take a look at Netflix as a great... READ MORE
Ladies and Gentlemen: the most significant shakeup in sector classifications within the past decade has just occurred. Two of the world’s biggest index providers — Standard & Poor’s (S&P) and MSCI, Inc. — have reorganized critical sector indexes. It’s a good time to take stock of what... READ MORE
* Performance Overview. * Correlations and Volatility Rise. * Scanning and Measuring Participation. * Bulk of the Evidence Remains Bearish. * S&P 500 Battles 200-day. * Dow Theory and Trends. * Healthcare and Utilities Hold Up. * Software, Defense and Health-related ETFs. * Notes from the Art's Charts ChartList. ... Correlations and Volatility Rise ... The major... READ MORE
Market Recap for Thursday, October 18, 2018 Impulsive selling seemed to return to Wall Street on Thursday as the Dow Jones had a couple of intraday bouts where the index declined 200-300 points in just an hour or so. That sent the Volatility Index ($VIX, +15.29%) scurrying higher once... READ MORE
THE DOW RETESTS 200-DAY LINE... My last two messages spelled out a lot of technical reasons that are bearish for the stock market, and increase the odds that the nine-year bull run is ending. Besides the heavy selling that's taken place during October, my weekend message showed a... READ MORE
* Internet bubble * Credit spreads * Rising interest rates * Contagion from abroad On Wednesday, I joined Tom and Erin on MarketWatchers LIVE and enjoyed a spirited discussion on what signs might foreshadow an extension to last week’s decline, or even signal a bear market. The four areas I cited were the... READ MORE
* Trading SPY with S&P 500 Signals. * Long and Long-Short Backtests. * Smoothing to Reduce Whipsaws. * Testing Different SMA Combinations. * Bollinger Bands, Envelopes and Keltners. * Backtesting the Filters. * Final Thoughts and a Suggestion. ... Introduction Yesterday I put the 200-day SMA through the wringer with some testing using the S&... READ MORE
Market Recap for Wednesday, October 17, 2018 There was a lot of back and forth action in our major indices on Wednesday. For instance, in the span of just 2 1/2 hours, the Dow Jones lost more than 300 points, then recovered them all, moving slightly into positive territory.... READ MORE
When markets are in transition and the bigger picture needs our attention it is always good to keep an eye on the yield curve. The absolute yield levels of the various maturities on the curve, starting at 3-Months all the way out to 20+ years are important to monitor. But... READ MORE
A mere two weeks ago, the Sector Signal Scoreboard (2nd slide below) was all "green" as each sector was on IT Trend Model BUY signals. The DP Scoreboards below were completely green at the beginning of September. Today both are dotted with Neutral signals (and some SELL signals... READ MORE
DEFENSIVE HEALTHCARE SECTOR CONTINUES TO LEAD ... Healthcare has emerged as the market's strongest sector. Not only has healthcare been the market's strongest sector over the last month, the last three months, and the last six months. It's now the top performer for the year.... READ MORE
The 200-day SMA acts as a benchmark we can use to compare price movements. We can use the 200-day SMA to compare the current decline in the S&P 500 against past declines. We can also use the 200-day SMA to compare the decline in the S&P... READ MORE
* A Self-Fulfilling Prophecy? * Ranges Wreak Havoc on Moving Average Systems. * Backtesting Five Indexes. * More Whipsaws than Strong Trends. * Other Uses for the 200-day SMA... ... The S&P 500 broke its 200-day SMA with a sharp decline last Thursday and then rebounded over the last three days to reclaim this... READ MORE
Market Recap for Tuesday, October 16, 2018 Wall Street welcomed a trend day to at least temporarily pause the violent downtrend we've experienced the past couple weeks. A trend day typically starts with a gap higher and then gains are extended throughout the session. We clearly saw that... READ MORE
Too often I see a basic misunderstanding between Momentum, Rate of Change, and Price Difference. Let me try to make it clear. They are essentially the same thing. Momentum Momentum deals with the rate at which prices are changing, kind of like acceleration and deceleration. Here is the formula for... READ MORE
The general market conditions for the various major indexes have been commented on extensively by other commentators here on the site. There is no doubt that there is more rumble in the markets now than we have seen for a long time. IMHO this makes it an interesting time for... READ MORE
The S&P 500 fell to its lowest level since early July and pierced its 200-day moving average last week. Chartists looking for stocks that held up better during this decline can use these levels for comparison. Stocks that did not break below their August lows and 200-day moving... READ MORE
I seize this opportunity to welcome you all to this Blog "Analyzing India". It is beyond all doubts that India remains one of the most important global markets. Out of all the Emerging Markets (EMs), the world's largest democracy certainly remains the most promising one. As... READ MORE
This morning on MarketWatchers LIVE, Tom and I were very cautious regarding today's rally. John Murphy and Arthur Hill are bearish. Carl is undecided but erring on the side of caution. So it was somewhat surprising and cause for a chuckle to see and hear the ridiculously excited... READ MORE
It is my distinct pleasure to welcome Milan Vaishnav, CMT, MSTA to the StockCharts family. As our newest contributing author, Milan will be sharing his analysis of the Indian markets each week through the "Analyzing India" blog. We are thrilled to have Milan on board and greatly look... READ MORE
Market Recap for Monday, October 15, 2018 A late afternoon selling binge pushed our major indices into negative territory by the close, with the lone exception being the small cap Russell 2000 ($RUT), which avoided a relative breakdown vs. the benchmark S&P 500. Small caps have been languishing... READ MORE
I've been updating these Scoreboards frequently starting on October 5th. Three very important signal changes arrived Friday and today. We don't generally see many updates to the Intermediate-Term Price Momentum Oscillator (PMO), but on Friday both the SPX and OEX followed the NDX and logged SELL... READ MORE
The broad market environment is a bit shaky right now, but Ultra Beauty (ULTA) is holding up relatively well with a normal pullback after a big breakout. First and foremost, the stock is in a long-term uptrend after a breakout, surge and 52-week high in September. Also note that the... READ MORE
Market Recap for Friday, October 12, 2018 Finally, Wall Street saw buying pressure to end a trading session. That certainly felt great psychologically, although as I point out below, I doubt that the short-term bottom is in. It's possible, but the odds favor another short-term plunge. For now,... READ MORE