* Gasoline ETF Firms after Pullback * Notes on RSI Parameters and Levels * Three Inside Weeks for Gold * Bollinger Contractions for GLD and GDX * Dollar Gets Extended * Unadjusted REIT SPDR Hits Reversal Zone * Questions, Comments or Feedback? ... Gasoline ETF Firms after Pullback The US Gasoline ETF ($UGA) has a mean-reversion setup working... READ MORE
The DecisionPoint Scoreboards remain bullish, except for intermediate-term PMO SELL signals. Those should be replaced by BUY signals soon as all four indexes have rising PMOs. In fact, the NDX already has the PMO positive crossover on its weekly chart, it just has to remain by the close on Friday... READ MORE
* Stocks are rising against gold and that’s bullish * The long-term trend points to gold under-performing stocks * Stock/Gold ratio breaks out from a right-angled broadening formation The price of gold, over the short-term, typically rises and falls on global tensions or lack thereof. Longer-term trends though, are more influenced... READ MORE
Rockwell Automation reversed its downtrend with a big surge in May, worked off overbought conditions and looks poised to resume its uptrend. The chart below shows ROK with a high-volume plunge in late April, a high-volume reversal day and a sharp recovery in early May. This recovery extended with high... READ MORE
Market Recap for Tuesday, June 12, 2018 The Dow Jones lost one point yesterday, but our other key indices finished with gains, led higher by the NASDAQ (+0.57%) and small cap Russell 2000 (+0.46%). It was another boring day of bullish action with perhaps one slight negative -... READ MORE
I have alerts set on my ChartList of sector SPDRs that alert me to Trend Model and PMO signal changes (Check our Support area for directions on how to set these). Today the alarm triggered when the Real Estate SPDR (XLRE) had a Long-Term Trend Model BUY signal. An LT... READ MORE
Distribution is the term often referred to as the topping process in the stock market. Before we go any further I want to say this loud and clear: I am not calling a top in the market. As you hopefully know by now I am just a humble trend follower.... READ MORE
The Relative Rotation Graph shows the rotation of the ten S&P 500 sector ETFs (SPDR family) against the S&P 500 index ETF (SPY). The rotation of the technology sector (XLK) back into the leading quadrant after a short period of rotation through the weakening quadrant is... READ MORE
* Two Breakout Zones to Watch on SPY. * On Trend Preview. * TLT Affirms Resistance. * Banks and Utilities Cue off Bond Market. * Finance Sector and Big Banks Continue to Lag. * Aetna Breaks Out of Bull Flag. * Questions, Comments or Feedback? Two Zones to Watch on SPY ...The S&P 500 SPDR... READ MORE
Market Recap for Monday, June 11, 2018 U.S indices finished with across-the-board gains on Monday despite a final 30 minute selloff that saw the Dow Jones trim a 70 point gain down to just 5 points. Still, stocks managed to start the week with minor gains ahead of a... READ MORE
* NYSE breakout * Multi-sector breakouts * Green shoots coming through for Europe and emerging markets NYSE breakout Monday’s action has seen the NYSE Composite, the $NYA complete a 4-month reverse head and shoulders pattern. If that breakout holds, and there are few grounds for suspecting that it won’t, it’s... READ MORE
TRANSPORTS REACH FIVE-MONTH HIGH -- WHILE UTILITIES FALL ... The Dow Industrials exceeded their May high last week to reach the highest level in three months. And are higher again today. But today it's the transports' turn to lead the Dow family of stocks higher. Chart 1 shows... READ MORE
Danaher (DHR) is a conglomerate that is the 15th largest component (1.91%) of the Health Care SPDR (XLV) and the 5th largest component (5.43%) of the Medical Devices ETF (IHI). XLV broke out last week and IHI has been leading for some time. The stock is also looking... READ MORE
Market Recap for Friday, June 8, 2018 In a rare development, consumer staples (XLP, +1.23%) led Wall Street higher on Friday. Over the past three months, the XLP has fallen 5.78% and no other sector is close to consumer staples' ineptitude. The XLP has been the shunned... READ MORE
Rising wedge formations normally resolve downward, but sometimes they don't. While I was expecting the normal bearish resolution of the current rising wedge, the market wasn't having it, and it pressed higher for a breakout on Wednesday. There has been no follow through yet, but price... READ MORE
HEALTHCARE SPDR TURNS UP... Last Friday's message suggested that the healthcare sector appeared to be basing. But it needed a close over its April/May highs to turn its trend from "sideways" to "up". Chart 1 shows the Health Care SPDR (XLV) exceeding those... READ MORE
* Strong, but Getting Frothy. * S&P 500 High-Low Percent Exceeds 10%. * S&P 500 Extends Breakout. * QQQ and IJR Hit New Highs. * Two New Highs and Two Breakouts. * Sector SPDRs Mask Strength Within. * Setting Resistance for Treasury Bond ETFs. * A Mean-Reversion Setup in Oil. * Notes from the Art&... READ MORE
Market Recap for Thursday, June 7, 2018 The Dow Jones gained 95 points, extending its recent rally, on the strength of McDonalds Corp (MCD) and Chevron Corp (CVX). MCD announced layoffs and Wall Street cheered the likely improvement to its bottom line by sending MCD higher by 4.37%: MCD... READ MORE
EURO CONTINUES TO REBOUND FROM IMPORTANT CHART SUPPORT ... Global stocks fell on Tuesday May 29 on concerns that a new election in Italy might provide a threat to the eurozone. My message on the following day (May 30) wrote about global stocks starting to recover from that scare. Included in... READ MORE
Market Recap for Wednesday, June 6, 2018 It was another solid bull market rally on Wall Street on Wednesday, this time with the Dow Jones conglomerates leading the action. The Dow Jones Industrial Average gained 346 points, or 1.40%, topping 25,000 and closing at its highest level since... READ MORE
* The Big Drivers in the S&P 500. * Industrials SPDR Breaks Out of Massive Wedge. * Boeing Leads XLI with New High. * Healthcare Holds Support and Breaks Out. * Blame J&J and Celgene. * Pfizer, Merck and Amgen hold Breakouts. * XLF Remains within Corrective Pattern. * Questions, Comments or Feedback? Large-caps... READ MORE
So far this week, we had only two signal changes. The Dow moved from ST Trend Model Neutral and ST PMO SELL back to BUY signals after only a few days. The only area of concern for these Scoreboards is the IT PMO SELL signals which are found on the... READ MORE
CONSUMER CYCLICALS NEAR NEW RECORD ... My message from Thursday, May 24 wrote about consumer cyclical stocks continuing to show relative strength. That earlier message attributed that mostly to strong leadership from apparel retailers. That's been the story again this week with retailers continuing to rally. Chart 1 shows... READ MORE
Oil fell rather sharply over the last two weeks, but the long-term trend is up and two technical indicators point to a bounce. The chart below shows the USO Oil Fund (USO) in the top window, RSI for USO in the middle and the Light Crude Continuous Contract ($WTIC) in... READ MORE
Market Recap for Tuesday, June 5, 2018 It's the perfect storm. Technology (XLK, +0.35%) sets another all-time high record close to lead the NASDAQ to the same. Strengthening economic conditions are creating a higher interest rate environment. That means money rotates from bonds to stocks. The dollar... READ MORE
After yesterday's strong rally, the Dow managed to drop its bearish signals and collect two BUY signals in the short term. Today, the Dow was down slightly, but it didn't affect these signals which remained after the close. The indicators for the Dow are looking healthy... READ MORE
Market Recap for Monday, June 4, 2018 Consumer stocks - discretionary (XLY, +1.12%) and staples (XLP, +0.83%) - led Wall Street higher on Monday, especially the NASDAQ, which closed above 7600 for the first time in its history. The highest candle body on the NASDAQ, however, is at... READ MORE
* Expect Trends to Continue, Not Reverse. * Broad Market AD Lines Record New Highs. * 52-week Highs Expand in Two Key Sectors. * Retail Propels Consumer Discretionary Sector. * Copper and COPX Bounce off Support (plus PALL). * Stocks to Watch. This is a preview for today's show, On Trend. This show airs... READ MORE
Here is the link for the June 2018 Market Round Up. 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 of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
* CPI adjusted S&P is just above a long-term make-or-break point * The rest of the world is at the brink * US market looks stronger CPI Adjusted S&P is just above a long-term make-or-break point Last week I pointed out that US equities were experiencing a marginal upside... READ MORE
Market Recap for Friday, June 1, 2018 Technology (XLK, +1.70%) and materials (XLB, +1.53%) led Wall Street higher on Friday after the May nonfarm payrolls beat expectations, providing a lift for those anticipating further economic strength in the months ahead. Semiconductors ($DJUSSC, +2.42%) and internet stocks ($DJUSNS,... READ MORE
Apple (AAPL) broke out of a pennant formation with a surge on Friday and this breakout could bode well for Qorvo (QRVO) and Skyworks (SKWS). The first chart shows Qorvo surging over 20% and then stalling with a contracting consolidation. This is a pennant and it is a bullish continuation... READ MORE
* Broad Strength in the Nasdaq 100. * Nvdia and Netflix Lead the Top 10. * Google Gets its Mojo Back. * Lots of Bull Flags within XLI. * Merck and Pfizer Break Out of Triangles. * Questions, Comments or Feedback? The Nasdaq 100 and big techs led the market higher in 2017 and they continue... READ MORE
Bank stocks are telling an interesting tale. As Wyckoffians we interpret the story the market is telling through the action of the tape. Banks are at the hub of the wheel of the economy. These financial institutions continually inject or remove liquidity from the economy through their operations. It has... READ MORE
Editors Note: This article was originally published in John Murphy's Market Message on Friday, June 1st at 1:19pm EST. A stronger than expected jobs report for May is giving a boost to stocks today. So is the fact that European stocks are rising (as well as Italy&... READ MORE
At EarningsBeats we issue long/short trade alerts on companies that beat/miss earnings expectations. When we issue a trade alert we include entry price, target price and stop loss. Stop losses are based upon key technical or price support, so they matter. We continuously emphasize the importance of honoring... READ MORE
While many market pundits seemed to grow very concerned about the 10 year treasury yield ($TNX) rising to 7 year highs at its recent 3.11% peak, I only grow nervous when the TNX falls. Why? Well, rising rates are typically a precursor to economic strength. The S&P... READ MORE
There were eight breadth thrusts in the month of May and seven of these were bullish (>70%). In particular, there were three bullish breadth thrusts last week. These strong readings show broad participation and give the bulls the edge going forward. Chartists can measure daily breadth by using the... READ MORE
On Monday 21 and Tuesday 22 May I stepped in for Erin Swenlin and acted as the co-host to Tom Bowley in the Market Watchers Live show. Clearly, we talked a lot about RRGs but as MWL is not all about RRG I wanted to bring something different to the... READ MORE
This is the Market Roundup for May 2018. 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 of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE