* Market Overview * Majority of Stocks in Up Trends * New Highs Expand in $SPX, $MID and $SML * An Unenthusiastic, but Steady Advance * Current Uptrend > January High * Small-caps Continue to Lead * Retail Powers Consumer Discretionary * XLK Edges above Flag Line (plus XLC) * Regional Banks Lead Finance Sector * XLI Extends Upswing (plus... READ MORE
Today I was alerted to a new Short-Term Trend Model BUY signal on USO. This signal is triggered when the 5-EMA crosses above the 20-EMA. When I went to take a look at the chart, I noted some very bullish characteristics that I thought I'd share. You'... READ MORE
In my previous article called Weight of the Evidence (WoEv) I compared my Weight of the Evidence with Tushar Chande’s Chande Trend Meter (CTM). I also mentioned I was happy that Tushar had this indicator since I cannot divulge the exact details of my Weight of the Evidence. A... READ MORE
Market Recap for Wednesday, August 22, 2018 Stock market action was bifurcated here in the U.S. on Wednesday as NASDAQ stocks led to the upside. The small cap rally continued with the Russell 2000 closing at a second consecutive all-time high. But both the Dow Jones and S&... READ MORE
We've now entered the longest bull market on record when counted from the 2009 lows to the highs of yesterday. While there are mixed opinions whether it will hold up much longer, our DP Scoreboards and intermediate-term indicators are still far too bullish to put me in the... READ MORE
The Semiconductor iShares (SOXX) has been locked in a trading range the last few months, but the big trend is still up and a recent candlestick reversal could signal the start of an extended advance. It is important to keep perspective, even when looking at a short-term pattern. In the... READ MORE
* Oil Bounces off Support * XLE: Support Break or Oversold Opportunity? * Biotechs Get a Bounce (IBB, XBI) * Schwab Firms at Support * Stocks to Watch: GSP, FFIV, TXN * On Trend Highlights and Link Oil Bounces off Support The Light Crude Continuous Contract ($WTIC) fell over 10% from early July to mid August,... READ MORE
Market Recap for Tuesday, August 21, 2018 Despite some selling late in the day, it was mostly a bullish day on Wall Street. The two sectors that lagged were defensive sectors - utilities (XLU, -0.72%) and consumer staples (XLP, -0.71%). Leading the market higher were consumer discretionary (XLY,... READ MORE
The NDX's PMO is still in decline. The SPX and OEX have rising PMOs, but no short-term PMO BUY signals. However, the Dow has recaptured its PMO BUY signal on the daily chart. The Dow may seem to be recovering more quickly, but honestly it didn't... READ MORE
Market Recap for Monday, August 20, 2018 Leadership from technology (XLK, -0.15%) was lacking, but strength in consumer discretionary (XLY, +0.71%), materials (XLB, +0.70%), energy (XLE, +0.67%) and industrials (XLI, +0.67%) was more than enough to offset areas of weakness as all of our major... READ MORE
Note I'm still traveling so my blog article today will focus on my Monday Setups for this week. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. tomorrow. Monday, August 20th Since reporting excellent quarterly earnings results in mid-June,... READ MORE
The Health Care SPDR (XLV) moved into the sector lead with a 52-week high this week. As far as the charts are concern, the Real Estate SPDR (XLRE) and XLV are the only two sector SPDRs hitting fresh highs. XLV gets the edge because it is up around 11% year-to-date,... READ MORE
* Market Overview. * A Bull Market for the S&P 500. * IJR Leads IWM and the Rest. * S&P 500 Leads New High List. * Tech, Healthcare and Industrials Lead New High List. * XLC Starts Trading. * XLU and IYR Extend Breakouts. * Cloud Computing ETF Forms Bull Flag. * Regional Bank SPDR... READ MORE
Facebook (FB) has been an internet and stock market leader for the last five years, but I believe the run is over. Not only did FB report quarterly revenues that missed Wall Street consensus estimates for the first time in more than four years, but they also lowered future operating... READ MORE
This week the market was rocking and rolling with large price swings. The DecisionPoint Scoreboards reflect new negative momentum for each of the indexes, but after logging those Price Momentum Oscillator (PMO) SELL signals, the market did an about-face and began to pull PMOs back up or slow their descent.... READ MORE
Charts are sometimes a mish-mash of contrary messages. As a general rule Wyckoffians will attempt to avoid these situations. But they can be valuable case studies. Residential Construction has been a Relative Strength (RS) laggard during all of this year after a surging climactic run in 2017. See the classic... READ MORE
The first rule of trading is to stay on the right side of the broad market trend. There are different indexes and indicators we can use to determine the broad market trend, but few are as efficient as the S&P 500 and its 12-month EMA. The chart below... READ MORE
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Editor's Note: This article was originally published in John Murphy's Market Message on Thursday, August 16th at 2:12pm ET. U.S. stock indexes are having an unusually strong day. Chart 1 shows the Dow Jones Industrial Average climbing more than 400 points (1.6%) in... READ MORE
On an options expiration week we normally expect low volatility, and that is what we got this week. Despite somewhat dramatic, but opposite, moves on Wednesday and Thursday, the SPY trading range for the week was a little over two percent, and the difference between the weekly closing high and... READ MORE
The walls of advantage once held by institutional traders over individual investors have come crashing down. Emerging from the dust, there now marches an entire army of real advantages that individual investors hold over their formerly superior big brothers. In the worlds of fundamental information, charting tools and trading costs,... READ MORE
Note I'll be traveling and on vacation this week, so my blog articles will focus on very brief topics regarding current market themes or my own trading strategies. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. when I... READ MORE
Instead of showing asset class rotation or sector rotation, Relative Rotation Graphs can also be used to show rotation among various market segments. You have all seen or heard about a breakdown of the market in large-, mid-, and small-cap stocks. And maybe also the breakdown between growth and value... READ MORE
Cerner (CERN) remains in a long-term downtrend, but the stock broke a resistance level and pulled back to this breakout zone, which now turns into support. This is called a throwback and it could offer a second chance to partake in the breakout. First and foremost, CERN is in the... READ MORE
MAJOR STOCK AVERAGES REBOUND SHARPLY... U.S. stock indexes are having an unusually strong day. Chart 1 shows the Dow Jones Industrial Average climbing more than 400 points (1.6%) in afternoon trading. The Dow tested its 50-day average yesterday and held. Chart 2 shows the S&P 500... READ MORE
Note I'll be traveling and on vacation this week, so my blog articles will focus on very brief topics regarding current market themes or my own trading strategies. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. when I... READ MORE
* Commodities starting to generate some long-term sell signals * Internals and commodity intermarket relationships are deteriorating * Energy has been lagging on the downside but may be ready to play catch up Earlier in the summer I wrote a couple of articles on copper and oil suggesting some short-term vulnerability, but concluding... READ MORE
FOREIGN STOCK ETFS FALL TO NEW LOWS... Last Thursday's message expressed concern that weakness in foreign stocks could start to weigh on U.S. stocks, especially with the S&P 500 testing major resistance at its January high. That dangerous situation has taken a turn for the... READ MORE
Note I'll be traveling and on vacation this week, so my blog articles will focus on very brief topics regarding current market themes or my own trading strategies. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. when I... READ MORE
Note I'll be traveling and on vacation this week, so my blog articles will focus on very brief topics regarding current market themes or my own trading strategies. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. when I... READ MORE
* An Island Reversal for SPY. * XLI and Lead the Gap Parade. * SOXX Leads Tech Lower with Gap. * IAI Forges Lower Highs. * ITB Hits New Low for Year. * Utes and Telecom Hold Up. ... There were short-term reversals last week as a number of stocks and ETFs gapped up on Tuesday and... READ MORE
* Last week's test of the highs leaves a lot to be desired * Breadth and momentum indicators fail to confirm * Some international charts not looking so good Last week's test of the highs leaves a lot to be desired If the charts in this article look a... READ MORE
Every now and then I run a Relative Rotation Graph showing the rotation of various size and value/growth indices for the US market. They (can) give good insights into what areas of the stock market are in favor and which ones are rotating out of favor. At the moment... READ MORE
Note I'll be traveling and on vacation this week, so my blog articles will focus on very brief topics regarding current market themes or my own trading strategies. I'll return to my "normal" blog postings regarding market action, outlook, historical tendencies, etc. when I... READ MORE
Anadarko Petroleum (APC) has had quite a good year with a 25% gain in 2018 and 52-week highs in June and July. The stock fell over the last five weeks, but this decline is viewed as a correction within a bigger uptrend. Moreover, RSI became oversold and a mean-reversion bounce... READ MORE
* Weekly Performance Review. * Market Overview. * A Correction for the S&P 500? * First Levels to Watch for SPY. * QQQ Double Top - NOT! * IJR is Holding up Just Fine. * XLV, XLK and XLY are Leading. * XLI and XLF Hit Resistance. * XLE Remains Stuck (plus XES). * Oil Corrects within Uptrend.... READ MORE
Last week I said I expected to see new, all-time highs for SPY, and on Monday that expectation was fulfilled in a marginal way. While I didn't say I expected that the market would close higher this week, it was implied, but the market's low volume... READ MORE
ChartCon Starts Today! If you haven't already, I'd highly recommend that you join me and many of my StockCharts.com colleagues from around the globe for ChartCon 2018. We did our rehearsals and walkthroughs yesterday and my great friend Greg Schnell kicks off the conference in... READ MORE
S&P 500 IS TESTING ITS JANUARY HIGH ... The black bars in Chart 1 show the S&P 500 nearing a test of its January high. That's an important test for it and the rest of the market. A test of a previous high is very... READ MORE
Market Recap for Wednesday, August 8, 2018 Wall Street ended Wednesday's action in a bifurcated state as the NASDAQ withstood a final 20 minute selloff to finish with a slight 4 point gain. The other major indices finished lower, but just fractionally so. In sector performance, slight gains... READ MORE