* Introduction. * RSI for Trend Identification. * RSI to Quantify Pullbacks. * Scan Code Progression. * Conclusions and Tweaks. Introduction Stocks making big upside moves and higher highs are clearly in uptrends, but this says little about the length of the trend or the depth of the pullbacks. Trends have a tendency to persists... READ MORE
In one of my recent articles, I high lighted that Relative Rotation Graphs can do (much) more than just show equity sector rotation by showing how RRG can be used to analyze rotation among the different commodity groups against a broad commodity index. This post expands on a recent article... READ MORE
The DecisionPoint Scoreboards remain completely green, meaning all four indexes are on BUY signals in all three timeframes as far as price trend and condition. While it seems a condition we would want to celebrate, it suggests to me that the market is overextended. The consolidation and small decline on... READ MORE
OVERBOUGHT TECH SECTOR SEES SOME PROFIT-TAKING ... Chart 1 shows the Technology Sector SPDR (XLK) losing more than 1% today to lead the market lower. Its 9-day RSI line (top chart) had reached overbought territory above 70 suggesting that the XLK was due for a pullback. It's now testing... READ MORE
The MarketRoundup Video For September 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
Market Recap for Tuesday, September 4, 2018 Our major indices rallied to end the day well off their intraday lows. All did finish in negative territory, however, as healthcare (XLV, -0.80%) and materials (XLB, -0.69%) were the weakest sectors. The XLV was led lower by biotechs ($DJUSBT, -1.... READ MORE
The Semiconductor SPDR (XSD) broke out to new highs last week and hit another new high on Tuesday. Despite strength in this broad-based semiconductor ETF, there are still pockets of weakness within the group. Namely, the semiconductor equipment stocks have been weak in 2018. These include Applied Materials (AMAT), Lam... READ MORE
* XLF Shows a Little Leadership. * Stocks to Watch in XLF. * TLT Backs off Resistance. * Two Cyber Security Stocks Bounce off Support. * Ametek Ends Consolidation. * Video Food for Thought. * On Trend on Youtube. ...XLF Shows a Little Leadership ... The Financials SPDR (XLF) led the sector SPDRs on Tuesday with a .49%... READ MORE
There were some new developments on the 20-year Bond ETF (TLT) that are tipping the scales bearish. We were already noticing some problems for Bonds in general, but volatile trading had made it difficult to decipher. Today there is no denying the negative bias as both a Short-Term Trend Model... READ MORE
Market Recap for Friday, August 31, 2018 Friday's action was underscored by bifurcation. The NASDAQ and small cap Russell 2000 turned in solid gains of +0.26% and +0.48%, respectively, while the Dow Jones ended the day in negative territory. The S&P 500 was essentially... READ MORE
* US Equities versus the world * Stocks versus Commodities * Stocks and bonds * Stocks compared to gold There are lots of seasonal reasons to be bearish on the stock market, such as September being the weakest month and mid-term election years having a downward bias. However, if you compare the S&... READ MORE
STOCKS HAVE A STRONG AUGUST ... U.S. stocks had a strong August with the Nasdaq, S&P 500, Russell 2000, and Dow Transports hitting record highs. Technology, Consumer Cyclicals, and Healthcare saw the biggest percentage gains and hit record highs. The three weakest sectors were Energy, Materials, and Industrials.... READ MORE
It's widely known that September historically has been a difficult month for U.S. equities. Since 1950, the S&P 500 has risen during the month of September 30 times and moved lower 38 times. It's the only calendar month where the bears have had... READ MORE
In one of my recent articles, I high lighted that Relative Rotation Graphs can do (much) more than just show equity sector rotation by showing how RRG can be used to analyze rotation among the different commodity groups against a broad commodity index. In this post, I want to expand... READ MORE
The S&P 500 hit a new high in August, but only four of the ten sector SPDRs joined in on this high: the Consumer Discretionary SPDR, the Technology SPDR, the Health Care SPDR and the Real Estate SPDR. This suggests that the other six are lagging in some... READ MORE
This week, as the market once again broke out of the cyclical bull market rising trend channel, it occurred to me that perhaps another parabolic advance was getting under way. On Wednesday I was a guest of Erin and Tom on MarketWatchers LIVE, and I gave a more detailed account... READ MORE
The market made new all-time highs this week, but with the upcoming holiday and short trading week, look for consolidation or continued sell-off. The indicators in the very short term and short term are suggesting a selling initiation. Add to that the highly bullish sentiment charts and it spells weakness... READ MORE
Editor's Note: This article was originally published in John Murphy's Market Message on Wednesday, August 29th at 12:33pm ET. Before leaving on vacation on August 15, I expressed concern about the fact that foreign stock ETFs were lagging too far behind the U.S. which... READ MORE
Here's a fact: Traders gravitate towards companies that beat earnings expectations. Why? Because they know they are putting their money to work in companies that outperform. Here's another fact. MANY companies that report and beat earnings expectations often gap up - move higher - on positive... READ MORE
After two conferences in the past three weeks (ChartCon 2018 and TSAA - San Francisco), it is abundantly clear that individual investors want to challenge my portfolio strategy. Therein lies the risk of 100% candid exposure on my holdings and investing approach. Rather than engaging in arm wrestling over whether... READ MORE
* Small-caps Stall as Large-cap Techs Lead * More Strength than Weakness * S&P 500 Notches a New High * Seasonal Patterns are Mixed * The Ebb and Flow of QQQ * Big Flows in SKYY, HACK and IGV * Big Three are Up Big (XLK, XLY, XLV) * Notes from the Art's Charts... READ MORE
Market Recap for Thursday, August 30, 2018 Record Wall Street action was temporarily suspended on Thursday as all of our major indices fell in the final two hours to finish the day in negative territory. Utilities (XLU, +0.04%) managed to eke out a small gain, but the remaining sectors... READ MORE
* Biotech and Defense/Aerospace Show Leadership. * Creating a ChartList with ETF Holdings. * 3 Defense-Aerospace Charts to Watch. * 3 Biotech Charts to Watch. Chartists looking for bullish stock setups can use industry group ETFs as the first filter. It is easy to find ETF components, upload them to a ChartList and... READ MORE
Market Recap for Wednesday, August 29, 2018 It was another ho-hum day of records on Wall Street with the S&P 500, NASDAQ and Russell 2000 all closing at all-time record highs for the 4th consecutive session. The Dow Jones has yet to clear its January 2018 record high... READ MORE
The last time all four of the DecisionPoint Scoreboards were completely "green" (or on BUY signals in all three time frames as far as price trend and momentum/condition) was back on 11/6/2017. It lasted only ONE day when the SPX whipsawed back into a PMO... READ MORE
FOREIGN STOCK ETFS ARE FINALLY BOUNCING ... Before leaving on vacation on August 15, I expressed concern about the fact that foreign stock ETFs were lagging too far behind the U.S. which could threaten the uptrend in the S&P 500 which was nearing a test of its January... READ MORE
Market Recap for Tuesday, August 28, 2018 U.S. stocks extended their winning streak deeper into record territory on Tuesday. The S&P 500 closed in record territory for the third consecutive session. While the gain was very slight (+0.03%), it still keeps the bulls in charge -... READ MORE
* A Selling Climax and Retest for Broadcom. * Analog Devices, Qorvo and Semtech. * Danaher Extends String of Higher Lows. A Selling Climax for Broadcom Broadcom (AVGO) hit a potential reversal zone on a selling climax and could be poised for a rebound. First and foremost, I readily admit the Broadcom is... READ MORE
Chips are leading the market again as the broad-based Semiconductor SPDR (XSD) broke out of a triangle consolidation and hit a new high. A new high in this cyclical group is positive for the technology sector, the Nasdaq and the broader market. First note that XSD has 34 components and... READ MORE
Gold began an uptrend in 2001 which persisted for more than 10 years. At the conclusion of that trend, gold had a classic Buying Climax (BCLX) which led to a Change of Character. For the last 5 years gold has made no upward progress. Is gold getting ready to resume... READ MORE
Market Recap for Monday, August 27, 2018 It was an all-around solid day on Wall Street to begin the final week of August. And it all occurred on Monday, which historically has been the worst calendar day of the week, particularly Mondays that fall during the second half of calendar... READ MORE
On Friday, the Dow finally saw its weekly PMO cross above its signal line and trigger a long awaited BUY signal. The SPX also added a new PMO BUY signal on its daily chart on Friday. Today, the OEX generated a ST PMO BUY signal. I had thought the NDX... READ MORE
The Relative Rotation Graph shows the rotation of the Health Care sector over the last five weeks against SPY. The dimmed trails are the other US sectors. The strong rotation from improving into leading at a steady positive RRG-Heading (0-90 degrees) suggests that further improvement against SPY is likely. In... READ MORE
The unadjusted 20+ YR T-Bond ETF (_TLT) surged to resistance on Friday and backed off on Monday. The long-term trend is down and this resistance level could mark a near term top. First note that the chart shows unadjusted prices for TLT by preceding the symbol with an underscore (_TLT)... READ MORE
* The longer-term picture argues for lower yields * Deflationary forces gain the upper hand * Bond yields at crucial short-term support * UK Yields in a life or death struggle The longer-term picture argues for lower yields Earlier in the month I wrote an article pointing out that many bond yields had reached... READ MORE
Periodically I write an article that reviews the past few months of articles. Why on Earth would I do this? Primarily for two reasons. One is that many new readers are involved and often they do not go back and look at the past articles. Two is that my articles... READ MORE
* Software Is Red Hot. * Microsoft, ServiceNow and Tableau. * HACK Hits a New High. * Qualys and Proofpoint Bounce off Support. Software Is Red Hot The software group is part of the technology sector and this industry group is red hot. Several key stocks in this group hit 52-week highs last week... READ MORE
Market Recap for Friday, August 24, 2018 The boring stock market months of July, August and September just got a lot more exciting. Yesterday, the benchmark S&P 500 did something it's never done before. It closed above 2873. The NASDAQ and Russell 2000 also closed at... READ MORE
On Friday SPY made new, all-time intraday and closing highs, exceeding the records set on Tuesday. The daily PMO has been very flat and holding at around +1 since the end of July. This summarizes the steady price rise during that period and does not present a problem. There is,... READ MORE
Market Recap for Thursday, August 23, 2018 Technology (XLK, +0.22%) was the only sector to finish in positive territory on Thursday. The remaining sectors were lower, led by materials (XLB, -0.68%), energy (XLE, -0.47%) and financials (XLF, -0.46%). The result was losses on all of our... READ MORE