Market Recap for Wednesday, October 11, 2017 A strange pair - utilities (XLU, +0.43%) and technology (XLK, +0.33%) - combined to lead our major indices higher on Wednesday with the NASDAQ rising 0.25% to close at another all-time high. Seven of the nine sectors ended the day... READ MORE
.... Microsoft Leads Fab Five with New High .... Alphabet Breaks Triangle Line .... Apple Reverses after Oversold Reading .... Amazon Breaks Wedge Line .... Avago Pattern Evolves into Ascending Triangle .... Cornerstone OnDemand Forms Double Bottom .... Universal Display Firms at Support and Zoetis Turns Up .... Understanding Cryptos and Blockchain .... Bitcoin Index Hits New High .... Microsoft... READ MORE
Carl and I have been watching the Gold chart carefully for a likely Intermediate-Term Trend Model (ITTM) Neutral Signal. However, with the rally of the last two days, both the 20-EMA and 50-EMA have slowed their descent. A negative 20/50-EMA crossover will trigger that ITTM Neutral signal. Why not... READ MORE
GOLD SPDR FAILS TEST OF RESISTANCE LINE... A month ago it looked like gold might be on the verge of a bullish breakout. It didn't happen. My September 7 message showed gold nearing a test of a major "neckline" extending back three years. The weekly bars... READ MORE
A recent double top and failure at the 200-day SMA point to lower prices for Comcast (CMCSA). The double top formed from May to early September with two highs around 42 and a low around 38. Comcast broke this low with a sharp decline and then became oversold. The stock... READ MORE
Market Recap for Tuesday, October 10, 2017 The Dow Jones finished 69 points higher on Tuesday to close at yet another all-time high. It's an illustration of how equities can remain overbought for an extended period of time. The Dow Jones moved into overbought territory (RSI 70+) 7-8... READ MORE
No changes to the DP Scoreboards today, but you can see that every signal is a BUY signal except the IT PMO signal on the NDX. Check out my ChartWatchers article to learn more about why that is the case. Ultra-short-term indicators had pointed to a possible "rally pop&... READ MORE
F5 Networks (FFIV) has a seasonal history of performing extremely well in October and November, but technically the stock has been a wreck since topping in March 2017 and the early October returns haven't been very good either. There is hope, however, in the form of upcoming price... READ MORE
Watching the evening news can give you a misleading and often wrong perspective on the stock market. Most commentators mention whether the Dow Jones Industrial Average was up or down and by how much, and that is just about the complete financial report, even though the Dow Jones’ 30 large... READ MORE
Market Recap for Monday, October 9, 2017 The U.S. major stock market indices took a breather - if you want to call it that - on Monday as the Dow Jones, S&P 500 and NASDAQ all fell less than 0.25%. Only the Russell 2000 lost more... READ MORE
.... Nearing the Moment-of-truth for TLT and $TNX .... How the 10-yr Yield Affects other Names .... Gold, Silver and Gold Miners Reverse Near Key Retracement .... Newmont Forms Bull Flag .... Working with High-Low Percent Indicators .... Finance, Industrials, Tech and Materials Lead New High List .... New Highs Expand for XLK .... Three Different Sector Views... READ MORE
* Short-term October stock market correction? * Healthcare not looking so healthy * Dollar likely to digest recent gains over the immediate short-term * How about a rally in gold? Short-term October stock market correction? The strongest seasonal of the year for equities comes at year-end. Since this is a bull market, it seems... READ MORE
This morning I saw a commercial for the Global X Lithium ETF (LIT), and I thought, "Hmmm, lithium . . . batteries for iPhones, MacBooks, etc." So I pulled up a chart of LIT, and all kinds of things jumped out at me. First I saw the parabolic advance that got... READ MORE
The S&P 500 is near all time highs and we are in a bull market, but Advance Auto Parts (AAP) did not get the memo and recent signals point to new lows. First and foremost, the long-term trend is down because the 50-day SMA is below the 200-day... READ MORE
Market Recap for Friday, October 9, 2017 Extremely overbought and extended conditions. Complacency in the form of a very low Volatility Index ($VIX) reading. Geopolitical tensions. Then a negative jobs report. The market was surely doomed on Friday, right? Wrong. That complacency, as evidenced by near record low readings in... READ MORE
While we've seen many indices, ETFs and individual stocks break out over the past several weeks, there are still many that are consolidating in bullish fashion and those, upon breakout, provide solid trading opportunities. Enter DXC Technology Company (DXC). Over the past two months, the S&P... READ MORE
They say how time flies; and it's true, especially from one earnings season to another, and starting this week we're going to start hearing from thousands of companies as they release their numbers. And boy, there's nothing traders and longer term investors care about... READ MORE
Chart 1 shows the Powershares QQQ ETF hitting a record high this week. It was the last of the major stock indexes to do so, and its breakout is a positive sign for the market. It also did slightly better than the rest of the market. The QQQ, however, has... READ MORE
The Relative Rotation Graph above shows the rotation of the three size indices that make up the S&P Composite 1500 index. Although the S&P 500 large cap index ($SPX) is still clearly on the right-hand side of the RRG, making very small rotations close to the... READ MORE
NASDAQ 100 HITS NEW HIGH... Chart 1 shows the Powershares QQQ ETF hitting a record high this week. It was the last of the major stock indexes to do so, and its breakout is a positive sign for the market. It also did slightly better than the rest of the... READ MORE
I've been following the stock market for a long time and I'm always searching for that perfect signal that never fails. I still haven't found it and there are never any guarantees in the stock market, BUT following the rotation of money to aggressive... READ MORE
The Energy SPDR (XLE) is the top performing sector SPDR since mid August with a double digit advance over the last seven weeks. On the price chart, XLE broke out of the channel, exceeded its summer highs and pushed RSI above 70 for the first time this year. It was... READ MORE
Two strong sectors in September were Materials (XLB) and Industrials (XLI). During the second half of a business cycle expansion these themes typically do well, and that is the case here. The economy has begun to expand at a faster rate. These industries develop pricing power which allows them to... READ MORE
Today all but the NDX garnered new PMO BUY signals in the intermediate term. The intermediate-term PMO signals are gathered from the weekly chart PMOs and their crossovers. I'll give you a peek at the NDX weekly chart too, but it is much further away from a new... READ MORE
I awoke Monday morning to news of the outrage that had taken place in Las Vegas the night before, and I experienced the now all-to-familiar feelings of weariness at the state of the world. There has been enough rehash of this terrible event, and my purpose of mentioning it was... READ MORE
Imagine a football coach who has the best eleven quarterbacks in the NFL altogether on the same team and puts them on field at the same time. This “dream team” would get clobbered. Without tight ends, tackles, guards, wide receivers and a center there to present a balanced attack, there... READ MORE
.... Small-caps Lead Broadening Rally .... Small-caps High-Low Percent hits 2017 High .... Death of QQQ Greatly Exaggerated .... IJR Extends on Breakout .... Sectors Reflect Broad Strength .... Tech, Finance, Industrials and Materials Lead .... HealthCare SPDR Turns Up after Pullback .... XLY Catches a Strong Bid .... XLU Goes for a Flag Breakout .... Energy Stalls after Big... READ MORE
Market Recap for Thursday, October 5, 2017 Well, if you were worried about an underperforming technology sector and the inability of the NASDAQ 100 ($NDX) to reach new highs, you can stop worrying. Both broke out on Thursday with emphatic moves to clear highs established over the summer. First, check... READ MORE
It took the NDX two weeks to a month more to update its Short-Term PMO to a BUY signal in comparison to its peers. The dates underneath the signals on the Scoreboard tell the story of a difficult decline and then rally run for the NDX and technology in general.... READ MORE
The relationship between Stocks and Gold * Long-term Picture * Three interpretive rules * Looking at it the other way. The Gold/stock Ratio * Two Politically troubled ETF’s, are so technically troubled Long-term Picture One of the areas I focused on in my latest Market Roundup Webinar was the tight trading range... READ MORE
COPPER PRICES ARE REBOUNDING ... After rising to the highest level in three years a month ago, the price of copper experienced a modest correction during September. Chart 1 shows the metal pulling back to initial chart support along its August low and its 50-day moving average. But it's... READ MORE
Blackberry's (BBRY) demise from 2008 through 2012 has been well documented and I'm not really interested in dwelling in that past. More recently, however, BBRY has attempted on multiple occasions to clear price resistance in the 11-12 range. Clearing such resistance would be technically significant and... READ MORE
.... Testing the Basic PPO Signal Line Cross .... Setting the Benchmark .... Consulting, Software and Data .... System Ground Rules .... PPO Signal Line System .... A Winning Chart and a Losing Chart .... Breaking a Tie and Favoring Momentum .... Backtest Results Favor Large-caps .... Profit Factor Metric .... Conclusions and Caveat Emptor .... Testing the Basic PPO Signal... READ MORE
Market Recap for Wednesday, October 4, 2017 This bull market advance continues to be about rotation. Index rotation. Sector rotation. Individual stock rotation. Few areas of the market are breaking down. It's mostly about gains, consolidation, then more gains. On Wednesday, the red hot Russell 2000 took a... READ MORE
Developed by Sherman and Marian McClellan, the McClellan Summation Index is a breadth indicator derived the McClellan Oscillator, which is a breadth indicator based on Net Advances (advancing issues less declining issues). The Summation Index is simply a running total of the McClellan Oscillator values. Even though it is called... READ MORE
Alphabet, which some of you may know as Google, surged off a support zone with good volume and broke short-term resistance. This breakout could evolve into more because the big picture is also bullish. GOOGL advanced to a new high in May and then consolidated with a long consolidation. The... READ MORE
Market Recap for Tuesday, October 3, 2017 It didn't take long for the seasonal tailwinds to kick in for airlines ($DJUSAR). I posted last Friday that airlines were poised to breakout technically and highlighted Alaska Air Group (ALK) as one airline that has performed extremely well during the... READ MORE
Plenty of actionable rotation towards the edges of the Relative Rotation Graph above. The RRG holds the 30 members of the Dow Jones Industrials index. Scanning around the outside of the chart the following stocks draw the attention. In the weakening quadrant, MCD is at the lowest JdK RS-Momentum reading... READ MORE
The Market Round Up Video Recording for October is available. Use the HD button for better clarity when viewing. Market Round Up Live With Martin Pring 2017-10-04 from StockCharts.com on Vimeo. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the... READ MORE
No new changes on the DecisionPoint Scoreboards at this time, but we should see the IT PMO signals change on Friday. I was notified by my Technical Alert that weekly PMO crossovers occurred on all but the NDX. These signals will need to stay intact at the end of trading... READ MORE