We've seen some very interesting sector rotation this past year as the market continues to climb higher. Money doesn't seem to really be leaving the market, just rotating from one sector to the next. The Utilities sector was a good run through October and into November.... READ MORE
BOND YIELD IS CLIMBING... The daily bars in Chart 1 show the 10-Year Treasury Yield climbing 2 basis points to 2.40%. The 5-year Treasury Yield (not shown) has climbed to the highest level in six years. Today's strong PPI report may have something to do with that.... READ MORE
Market Recap for Monday, December 11, 2017 The Russell 2000 remained in true December form as it continues to struggle during the first half of the month, despite records being set on both the Dow Jones and S&P 500 on a daily basis. It truly is an anomaly.... READ MORE
.... Health Care SPDR Renews its Breakout .... Pfizer and Bristol-Meyers Bounce off Support .... HACK and IGN Confirm Big Continuation Patterns .... Cisco and Fortinet Lead their Groups .... Copper Gets Oversold Bounce (plus COPX) .... Tesla Surges off Support Zone .... Short-term Ugliness with Long-term Bullishness .... Health Care SPDR Renews its Breakout The Health Care... READ MORE
On Friday, the NDX logged a new ST Trend Model BUY signal. Currently DP indicators are looking bullish and seeing improvement in the technology sector is encouraging for the market in general. I did point out on today's MarketWatchers LIVE show that one could make a case for... READ MORE
Ingersoll-Rand (IR) is showing renewed signs of life with a surge off support and two mini breakouts. Note that IR is part of the industrials sector and this sector is showing upside leadership with a 52-week high recently. First and foremost, Ingersoll-Rand is in a long-term uptrend with a 52-week... READ MORE
Market Recap for Friday, December 8, 2017 While we didn't set intraday all-time highs, we did manage to close at record levels on both the Dow Jones and S&P 500, which rose 0.49% and 0.55%, respectively, on Friday. The NASDAQ tacked on 0.40%... READ MORE
On October 26th, Intel (INTC) posted quarterly earnings results and beat both revenue and EPS estimates. It resulted in a very strong gap higher the next morning and then INTC continued rising, tacking on another 10% within a week. But INTC became very overbought with an RSI above 90 and... READ MORE
Horizontal Point and Figure (PnF) analysis offers a method for estimating the potential extent of a move. The dilemma is what to do when the price objective has been met. Should there be an automatic response of reducing position size in the price objective zone? Are there more dynamic strategies... READ MORE
INDUSTRIAL SECTOR CONTINUES NEW LEADERSHIP ROLE... Industrial stocks assumed a new market leadership role during November and remained in that role again this week. Chart 1 shows the Industrial Sector SPDR (XLI) gaining 1.4% during the week which made it second only to the financial sector's gain... READ MORE
In the DP Weekly Wrap I normally lead with a chart of the market, but this week Bitcoin was so prominent in the news, I thought a chart of the Bitcoin Index would be more appropriate. What we have here is a classic parabolic advance (the red arc), with price... READ MORE
Market Recap for Thursday, December 7, 2017 December began with a huge intraday selloff and recovery and since then, it's been mostly down action. Yesterday was the first day this month that the bulls could celebrate and feel good. Eight of nine sectors advanced with many of the... READ MORE
.... Breadth Indicators Confirm Chart Strength .... SPY Stalls as QQQ Edges Lower .... Watch TLT for Clues on IJR .... Three New Highs and One Stall .... XLE Stalls, but Holds its Breakout .... Getting Perspective on XME .... Steel ETF Forms Big Continuation Pattern .... IEF and TLT Remain Divergent .... Gold Breaks as Dollar Turns Up... READ MORE
Last week Wednesday (29 November) I was the guest of Tom and Erin in the Market Watchers Live show. During the show, we talked a lot about RRG, Relative Rotation Graphs, covering some basics and some new(er) techniques and interpretations that I have been working on. If you missed... READ MORE
* 18-month ROC is literally off the charts * Bitcoin and short- term momentum * Comparing Bitcoin to the Bitcoin Trust * Conclusion * Links to videos on Bitcoin 18-month ROC is literally off the charts There are two Bitcoin directly related vehicles that are available on the StockCharts platform. These are the NYSE Bitcoin... READ MORE
I'm constantly looking for short-term trading opportunities and Perrigo (PRGO) fits the bill. After reporting better-than-expected results in its latest quarter, PRGO gapped up strongly and today filled its gap before finishing on a solid note to print a hammer (blue circle below) - many times a signal... READ MORE
Market Recap for Wednesday, December 6, 2017 It was a bifurcated day on Wall Street with the NASDAQ being lifted by an improving technology sector (XLK, +0.64), while a very weak energy group (XLE, -1.30%) put the brakes on both the Dow Jones and S&P 500.... READ MORE
.... Did the Uptrends Reverse for Semiconductors? .... Intel and Four Semiconductor Equipment Stocks .... Biotech ETF Test November Lows .... BIIB Shows Relative Chart Strength .... Bearish Wedges for Two Energy-related ETFs .... Junk Bonds Continue to Struggle .... Did the Long-term Uptrends Reverse for Semiconductors? The Semiconductor SPDR (XSD) and Semiconductor iShares (SOXX) were hit... READ MORE
I'm sure many have heard the phrases, "Bull Market Rules Apply" or "Bear Market Rules Apply". I thought today I'd give you two examples of how these "rules" interact with chart patterns. In particular, a previous reverse head and shoulders... READ MORE
This months Market Roundup highlights the three main assets of bonds, commodities and stocks. Rotations between these asset classes can help find major secular moves. This month shows multiple trends changing. Market Roundup With Martin Pring 2017-12-06 from StockCharts.com on Vimeo. Good luck and good charting, Martin J. Pring... READ MORE
* Gold leads commodities * Gold, gold shares and silver complete head and shoulder patterns * Two confidence ratios are forecasting lower gold prices * Commodities headed lower Gold leads commodities Chart 1 compares the price of gold to commodities in the form of the CRB Composite. The green shaded areas represent rally periods... READ MORE
EMERGING MARKETS ISHARES FALL TO TWO-MONTH LOW... The recent rotation out of technology stocks may be taking a toll on emerging markets which are heavily exposed to that sector. Chart 1 shows Emerging Markets iShares (EEM) falling below its 50-day average to the lowest level in two months. And it&... READ MORE
United Technologies (UTX) looks ripe for a breakout to new highs as a bullish cup-with-handle pattern takes shape. Note that UTX is in the industrials sector and the defense-aerospace industry group. The Industrials SPDR (XLI) and the iShares Aerospace & Defense ETF (ITA) both hit new highs on December 1st.... READ MORE
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First and foremost I am pointing out the new ST Trend Model Neutral signal that arrived today on the NDX. Despite attempting to rally from the recent decline, price was unable to move high enough to prevent this Neutral signal from appearing. Today I discussed with Tom thoughts on whether... READ MORE
Market Recap for Monday, December 4, 2017 Recent bullish themes continued on Monday. Outperformance by the Dow Jones (+0.24%) and S&P 500 (-0.11%) overshadowed ugly relative performance from technology (XLK, -1.61%) and the NASDAQ (-1.05%). Even the riskier Russell 2000 index ($RUT, -0.30%... READ MORE
.... QQQ Diverges from SPY Again .... Mid-caps Shine on PerfChart .... Candlesticks versus Closing Prices .... Bonds and Dollar Push-Pull Gold .... IDXX Breaks Flag Resistance .... EBAY Bids to End Correction .... Ball Corp Surges off Support Zone .... QQQ Diverges from SPY Again QQQ diverged from SPY over the last few days and this marks... READ MORE
CHEAPER STOCKS ARE GAINING ... The rotation into cheaper undervalued stocks that started last week is continuing today on the back of the weekend passage of the tax reform package. The relative strength lines in Chart 1 show the past week's leaders to be banks (blue line), retailers (red... READ MORE
Market Recap for Friday, December 1, 2017 An early selloff on Friday quickly became a buying opportunity as the bulls jumped back on board for what they hope will be another big upturn. All of our major indices ended the Friday session in negative territory, but the losses early in... READ MORE
Mylan (MYL) was hit hard in early August with a plunge to 30, but firmed and recovered with a gap and surge to the upper 30s. The stock consolidated after this gap-surge and recently broke out with above average volume. Notice that the gap-zone held in the mid 30s as... READ MORE
'Tis the season and I'd first like to wish everyone a happy holiday season. To health, happiness and prosperity! Feel free to sing along.... "We've made our (Chart)List we've checked it twice but we won't buy stocks at any... READ MORE
Energy shares are finally showing some bounce. The daily bars in the chart below shows the Energy Sector SPDR (XLE) climbing above its 50-day average today. The XLE is bouncing off chart support along its late October low and its 200-day moving average. Those are logical chart points for the... READ MORE
I love to combine bullish seasonality with strong or strengthening technical conditions. As we move into December, it's important to realize that there has been no better month for the S&P 500 since 1950 than December, which has produced annualized returns of +19.51%. Also, December... READ MORE
Semiconductor stocks have been top performers throughout most of 2016 and 2017. Often a strong Semiconductor group performance encourages speculation across the entire stock market and that has certainly been the case in 2017. Preceding the current 21-month uptrend in the Semiconductor ETF (SMH), a Reaccumulation formed and built a... READ MORE
Chartists can plot High-Low Percent for the nine sectors to identify areas of strength within the stock market. The chart below shows the High-Low Percent ranked by this week's highest value. The finance, industrials and consumer discretionary sectors stand out this week because their High-Low Percent indicators hit... READ MORE
The energy sector has been on a bit of a rollercoaster the three months, moving from deep lows in August to a new trading range of large percentage highs and lows. I'm starting to see signs that the trading range is going to be history as price now... READ MORE
There were a couple of news stories on which to blame Friday's pullback, but my opinion is that the vertical up move of the prior three days was a short-term blowoff that needed to be corrected. The blowoff is most readily identified by the rapidly expanding volume midweek,... READ MORE
With 25 years under his belt at Morningstar, Russel Kinnel, Director of Manager Research, has certainly earned my respect. So my radar went up when he wrote a column entitled “Lessons Learned.” Considering that Kinnel has been a keen observer of individual investor behavior for a generation, I believe all... READ MORE
Market Recap for Thursday, November 30, 2017 It was another broad-based rally on Wall Street with traders ditching bonds and rushing into equities. The Dow Jones rallied 331.67 points to easily close above 24,000 for the first time in its history. The records just keep piling up. It... READ MORE
.... Bullish But Getting Frothy .... Bull Market Broadens with Surge in New Highs .... Finance, Industrials and Consumer Discretionary Lead .... Consumer Staples and Discretionary Lead November .... SPY and QQQ Hit New Highs .... Small-caps Extend Recent Leadership Run .... New High Hat-Tricks for Four Sectors .... XLI, XLF, XLB and XLV Resume Uptrends .... Oil Pulls... READ MORE