* Copper signals a primary bear market * Copper’s influence on commodities in general * Copper and bond yields It’s often said that Copper has a PHD in economics because it is used widely in many economic sectors. As a result, long-term reversals in its price trend often foreshadow general swings... READ MORE
Market Recap for Monday, July 2, 2018 A brief recap from yesterday: All of our major indices climbed higher with renewed leadership from the NASDAQ and Russell 2000. Technology (XLK, +0.89%) and utilities (XLU, +0.71%) led the action, while energy (XLE, -1.47%) was very weak. Given the... READ MORE
For the last couple of decades, I have classified myself as a trend follower. Mind you, this is not market timing. Market timing involves guessing at tops and bottoms. A trend follower will NEVER get in at the bottom or out at the top. It depends on how quickly his/... READ MORE
Here is the link to my current thoughts about the global markets. 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... READ MORE
Market Recap for Friday, June 29, 2018 The first half of 2018 ended on Friday in bifurcated fashion, which is fitting given that most of 2018 has seen bifurcated action thus far. The NASDAQ gained nearly 9% in the first six months, with the Russell 2000 not too far behind,... READ MORE
This (DAILY) Relative Rotation Graph shows the rotation of the Health Care stocks against their XLV benchmark. One stock really stands out because of its wide rotation. ALGN crossed over into the leading quadrant, from improving, last May and sharply moved higher on the price chart since then while building... READ MORE
Remember to tune in this coming Thursday, July 5th, when I will be a guest on MarketWatchers Live. I recently promised to drill down into intraday charting using the Wyckoff Method. The Wyckoff technique works very well on smaller timeframes and it is fun to do. On Thursday I will... READ MORE
DOW AND S&P 500 GIVE UP SOME OF FRIDAY'S GAINS... First a quick update on Friday's price action. The Dow and S&P 500 gave up some of their gains on Friday afternoon. The Dow gained 55 points (+0.23%) but ended slightly... READ MORE
Monthly charts were finalized on Friday, so we can get an up-to-date assessment of the very long-term. On the SPY monthly chart below, note that the cyclical bull market up trend has taken price on a very wide departure from the secular bull market rising trend line. The monthly PMO... READ MORE
DOW REGAINS ITS 200-DAY MOVING AVERAGE... Stocks are off to a strong start today. Wednesday's late selloff pushed the Dow below its 200-day average. Chart 1, however, shows the Dow Industrials regaining that long-term support line this morning. Chart 2 shows the S&P 500 regaining its... READ MORE
Market Recap for Thursday, June 28, 2018 The selling episode went according to plan, with many higher risk areas taking on most of the bears' wrath. The three worst performing sectors over the past week led the rebound on Thursday. Technology (XLK, +1.22%), financials (XLF, +0.87%) and... READ MORE
* June Swoon Looks Pretty Tame. * Programming Note: Up Coming Vacation. * High-Low Lines Still Rising. * S&P 500 Sets up First Test. * Short-term Oversold in Long-term Uptrend. * XLF and XLI Toy with Support. * Three Tech ETFs Become Oversold. * Notes from the Art's Charts ChartList. ...There are plenty of... READ MORE
Market Recap for Wednesday, June 27, 2018 Trade war fears are dominating the headlines, but U.S. Dollar Index ($USD) strength is quietly making the biggest news of all. The rising greenback is potentially good news as it signals that the U.S. economy is humming along, and is perhaps... READ MORE
* Mind the Gap in XLK. * Offensive Sectors Lead the Correction. * Bonds Continue to Rise. * Banks, Utes and the 10-year Yield. * Yuan Breaks Support. ... Mind the Gap in XLK ... The Technology SPDR (XLK) hit a new high and then gapped down for the third time this year. The red annotations show... READ MORE
Last week Thursday (6/21) was the third Thursday (try saying that out loud ;) ) of the month. The day that I join Tom and Erin in the Market Watchers Live show to talk about Relative Rotation Graphs. In the show, which you can play back here, I talked about different... READ MORE
Another day of decline after a head fake at the open when prices gapped up and rallied. The Nasdaq and Russell 2000 never caught a break as they began their decline right out of the gate. These two indexes have shown great relative strength, but are now taking it on... READ MORE
DOWNSIDE REVERSAL DAY ENDS RALLY ATTEMPT ... This morning's market rebound didn't last for long. By day's end the market had suffered a downside reversal day. And some support levels were broken. Chart 1 shows the Dow Industrials falling 165 points (-.68%) and ending... READ MORE
* The US on a knife edge * Global markets are also on the edge * Individual regions largely around key support Last week I wrote about the important upside breakout in the US market vis a vis the rest-of-the-world, and a previous article pointed out that the S&P had also... READ MORE
THE DOW IS LEADING TODAY'S RALLY ... After weighing on the rest of the market all month, the Dow is leading today's rebound. And it couldn't come at a better time. Chart 1 shows the Dow Industrials bouncing off chart support near their late-May low... READ MORE
Market Recap for Tuesday, June 26, 2018 Tepid gains on Wall Street allowed trade fears to subside for a day, but technical indications suggest this is likely just a temporary breather. The Dow Jones gained 30 points on the session, while the small cap Russell 2000 and tech-laden NASDAQ produced... READ MORE
The Oil & Gas Equip & Services SPDR (XES) is trading near a potential reversal zone, but the ETF is not keeping pace with strength in oil. The first chart shows XES, the Light Crude Continuous Contract ($WTIC) and the Correlation Coefficient for the two. XES bounced between 13 and... READ MORE
Today and yesterday saw four new signal changes on the DecisionPoint Scoreboards. The NDX has now joined in on short-term weakness in price trend and condition. Our short-term market indicators are starting to get oversold, but they continue in their downward trend. I came into this week expecting the SPX... READ MORE
Market Recap for Monday, June 25, 2018 We ended a bearish historical period yesterday with.....well.....bearishness. It was an ugly start to the day on more trade threats and, with an hour left in the session, the Dow Jones was down nearly 600 points. Buyers did emerge in that... READ MORE
* Measuring Participation during a Big Move. * The State of the Market * QQQ Nears First Support Test * IJR Corrects after Big Move * XLV Stocks Versus XLF Stocks * StockCharts TV and On Trend. ... Measuring Participation during a Big Move ... AD Percent is the first breadth indicator I check after a big up... READ MORE
NASDAQ AND TECHS LEAD MARKET LOWER ... Tech stocks and the Nasdaq are leading the rest of the market lower. Chart 1 shows the Nasdaq 100 (QQQ) falling more than 2% today and bearing down on its 50-day average. The Nasdaq is the weakest of the major market indexes. Falling technology... READ MORE
I’m going to continue discussing the ranking and selection of issues for trading. I cannot possibly go into great deal on each of the ranking measures I have used over the years, but future articles will discuss some of the more important ones. Mandatory Measures Once you have your... READ MORE
Market Recap for Friday, June 22, 2018 Bifurcated market action once again permeated Wall Street, but with much different results this time. Instead of the Dow Jones lagging badly and finishing in negative territory, this large cap index broke its eight session losing streak and gained 119 points (+0.49%... READ MORE
Internet retailers have not been required to charge sales tax for many online transactions. This has created a major advantage over the brick-and-mortar retailers. A recent court ruling could require internet retailers to include state sales tax on all purchases. Will this breathe new life into the traditional retailing stocks... READ MORE
The market has been turned back from the horizontal resistance drawn across the March top, but it has managed to stay above the support drawn across the May tops. However, there is still the mechanism of the bearish rising wedge pattern, which is reinforced by an OBV negative divergence, and... READ MORE
Earlier this week, I joined Tom Bowley and Erin Swenlin on MarketWatchers LIVE for something a bit different. Instead of sharing the usual tips and tricks as part of the "Everything StockCharts" segment, I had a chance to join the show as a featured guest. In addition to... READ MORE
THE DOW IS BOUNCING OFF CHART SUPPORT ... The Dow Industrials have been the weakest part of the U.S. stock market over the last month. That's been due primarily to its heavier exposure to stocks with more vulnerability to any Chinese trade tariffs like Boeing and Caterpillar. Those... READ MORE
* A Binary Approach to Indicators. * Wobbly S&P Holds Breakout Zone. * A Small Pullback in the E-Mini. * The Dow? Fughedaboutit! * QQQ and IJR Hit Fresh New Highs. * Retail and Amazon Power XLY. * XLV Holds Breakout. * XLK Starts to Stall. * XLF Tests a Big Support Zone. * Oil Holds Support Near... READ MORE
Market Recap for Thursday, June 21, 2018 The Dow Jones closed lower for the 8th consecutive trading session, this time falling 196 points. It's been a steady decline, spurred by fears of a trade war with China and a rising U.S. Dollar Index ($USD). Trade tensions tend... READ MORE
We added two more SELL signals to the DecisionPoint Scoreboards. Both the SPX and OEX triggered Price Momentum Oscillator (PMO) SELL signals. Apparently someone forgot to tell the NDX that it was time to relinquish BUY signals. However, maybe its hearing the whispers given it tumbled a bit farther today... READ MORE
Reminder If you haven't already subscribed to my blog, I'd love to keep you up-to-date on the latest news and technical developments. It's FREE and simple. Scroll down to the bottom of this article and type in your email address in the space provided.... READ MORE
Yesterday the Dow lost its PMO BUY signal and today it's lost its Short-Term Trend Model BUY signal. Looking at the NDX Scoreboard sitting next to the Dow Scoreboard, a bifurcated market between NDX and Dow. Both the NDX and Russell 2000 continue to set new all-time highs... READ MORE
DOLLAR HAS BIG IMPACT ON GLOBAL MONEY FLOWS ... The direction of the U.S dollar has a big impact on how U.S. stocks perform relative to foreign stocks. As a rule, a stronger dollar favors U.S. stocks, while a weak dollar favors foreign stocks. Chart 1 shows how... READ MORE
Market Recap for Tuesday, June 19, 2018 Treasuries (TLT, +0.58%), utilities (XLU, +0.99%), consumer staples (XLP, +0.53%) and healthcare (XLV, +0.26%) highlighted the strength on Tuesday. Wall Street suffered painful losses at the opening bell for a second straight day, but also rallied off those early... READ MORE
Stocks making new 52-week highs are clearly in uptrends and leading. Even though Paypal is just shy of a 52-week high, the bigger uptrend and wedge point to new highs in the near future. First and foremost, Paypal is in a long-term uptrend because the 50-day EMA is above the... READ MORE
* Remember the Failed Flag in SPY? * XLI Fails and Breaks Support. * KRE Holding Up Well. * USB Forges Island Reversal. * Biotech ETFs Breakout. * 4 Healthcare Stocks to Watch. * On Trend on Youtube. ... Remember the Failed Flag in SPY? ... Not too long ago, the S&P 500 SPDR (SPY) surged and... READ MORE