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
Bonds enjoyed quite a rally over the past two weeks which isn't a surprise given Bond Yields took a nose-dive. The daily chart of the $TYX shows how yields crashed. However, they are now bouncing off strong support at 2.95%. They may not be able to avoid... READ MORE
Last week I wrote: ". . . the market seems to be set up for a pullback or correction. . . . Recent declines have been very short-lived, so I can't make a case for anything too serious." What we got on the first trading day of this week was a sharp... READ MORE
In his Market Wizard books, Jack Schwager proved to investors that they could indeed significantly improve their own investing skill set by mimicking Wall Street’s greatest money managers. In this blog, I’ll show you how investing greatness can and should be built upon a similar parallel paradigm used... READ MORE
S&P 500 NEARS MAY HIGH... 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's bond and stock markets). In addition, yesterday's stock selling in response... READ MORE
* A Bullish Breadth Thrust, but... * S&P 500 Toys with Triangle Breakout * June can be a Rough Month * Seasonality and the Turn of the Month * QQQ Holds Up better than SPY * Small-caps Hold Breakout * XLK and XLY Hold Up the S&P 500 * Mind the Gap in XLF... READ MORE
Market Recap for Thursday, May 31, 2018 The roller coaster ride of 2018 has suddenly re-emerged this week. After considerable weakness on Tuesday to open this holiday-shortened week, we saw a beautiful bounce-back rally on Wednesday. That felt pretty good from a bullish perspective.....until yesterday's renewed selling.... READ MORE
With today's close, all of the monthly charts have 'gone final'. This means that any signals that appear on monthly charts are the final signals for the month. While we don't have any new monthly/long-term signals, it is always instructional to look at... READ MORE
Clearly I spoke too soon about having no DP Scoreboard signal changes this week. Today the Dow triggered both a PMO SELL signal and a Short-Term Trend Model Neutral signal. I'd prepare for some whipsaw. I've annotated a very small double-top that executed with Tuesday'... READ MORE
Market Recap for Wednesday, May 30, 2018 Remember that Tuesday weakness? Yeah, I didn't think so. Poof!!! It took the U.S. stock market all of one day to essentially erase the scars of that Tuesday selling. The NASDAQ broke out of a bullish flag pattern and the... READ MORE
Amazing! A week without any DP Scoreboard updates. All of these indexes came very close to new PMO SELL signals yesterday with the big decline, but today's rally pop changed that quickly with all four PMOs turning back up and away from their signal lines. While not a... READ MORE
DOW AND S&P 500 ARE BOUNCING OFF 50-DAY AVERAGES ... Stocks around the world sold off sharply yesterday (Tuesday) in a global flight from risk resulting mainly from a political crisis in Italy and, to a lesser extent, renewed threats of sanctions against China. A surge in Italian bond... READ MORE
Market Recap for Tuesday, May 29, 2018 Political uncertainties in Italy and Spain rattled global markets on Tuesday, leaving the Dow Jones with a loss of nearly 400 points on the session. There was a clear flight to safety, underscored by a massive 16 basis point drop in the 10... READ MORE
The Biotech iShares (IBB) surged off support in mid-May and then stalled the last two weeks with a bull flag taking shape. A bull flag is a short-term bullish continuation pattern. These patterns form after a sharp advance and represent a rest or consolidation. This is often needed to digest... READ MORE
* Small-caps and Large-Techs Still Leading. * IJR Holds above Breakout Zone. * QQQ Falls Back into Pennant. * Six Flags over the Nasdaq 100. * Strike One on SPY. * Selling Pressure Concentrated in Large-caps. * On Trend Highlights... The S&P 500 SPDR (SPY) broke below its mid-May lows with a sharp decline, but... READ MORE
* SPY experiences important relative breakouts * World A/D Line unexpectedly breaks trend * European and Emerging markets ETF’s experience major breakdowns SPY experiences important relative breakouts Earlier this morning I had the idea of writing about the relationship between the US and international markets, as this ratio usually does well... READ MORE
The markets spent much of last week consolidating or pulling back. The Financial sector was no exception. As with many of the major markets, XLF was hit especially hard today with a decline of over 3.3%. This was a more than decisive breakdown which would suggest lower prices ahead.... READ MORE
Market Recap for Friday, May 25, 2018 The NASDAQ 100 ($NDX) led the action on Friday and last week, thanks in large part to Netflix (NFLX) and a couple of chipmakers - Intel Corp (INTC) and Micron Technology (MU). NFLX surged to an all-time high earlier in the week, easily... READ MORE
* Is the Dollar Strong or the Euro Weak? * Yen Bounces as Euro Falls. * A Big Surge for Treasuries. * Gold is Oversold in an Uptrend. * Italy and Spain Lead Europe Lower. * Looking for International Indexes? * On Trend: Tuesdays at 10:30 AM ET. Dollar Strength or Euro Weakness? ... I am starting... READ MORE
A model ship in a bottle reminds me of the intricate detail, on a minature scale, available with the Wyckoff Method. Wyckoff analysis scales up, into very large timeframes, and down into the shortest of timeframes. Those who study and trade on an intra-day basis should consider adding these Wyckoff... READ MORE