Market Recap for Monday, September 11, 2017 It was a very bullish day on Wall Street. First and foremost, the benchmark S&P 500 rose more than 1% to close at a fresh all-time high. Its previous closing high was approximately 2481. The bulls left no doubt about this... READ MORE
The Dow's 5/20-EMAs have been braiding and unfortunately that causes whipsaw signals. Today saw the recent 9/6 ST Trend Model Neutral signal fall away in favor of a new BUY signal. With the market hitting new all-time highs, this wasn't a surprise to anyone... READ MORE
Johnson & Johnson (JNJ) appears to be ending its consolidation period with a surge and triangle breakout over the last three days. Overall, the stock is in a long-term uptrend because it hit a 52-week high in June and remains well above the rising 200-day moving average. JNJ consolidated after... READ MORE
Why do investors / traders like predictions? The prediction industry is not just Wall Street, there are business forecasting companies, economic analysis and forecasting, sales forecasting, on and on. However, Wall Street seems to have the least talent of the bunch. Here are some reasons I think investors / traders like predictions:... READ MORE
Market Recap for Friday, September 8, 2017 The NASDAQ fell on Friday mostly due to a very weak technology sector (XLK, -0.82%). Computer hardware ($DJUSCR) tumbled as Apple (AAPL) closed well below its 20 day EMA on heavier than normal volume for the first time since its big drop... READ MORE
Just a quick reminder that Greg Schnell and I will be hosting StockCharts Outlook webinar for September in one hour, beginning at 11am EST. Please join us if you're available. It's free and you can REGISTER HERE! Happy trading! Tom... READ MORE
Last week there was a high-volume breakout above a declining tops line. This week price pulled back to the line, bounced somewhat higher, then moved sideways the rest of the week. S&P 500 total volume was fairly robust compared to the weaker SPY trading volume, so there was... READ MORE
History matters because markets do indeed repeat themselves. John Kenneth Galbraith was interviewed in the PBS documentary, The Crash of 1929, and he observed that every 30 years or so we predictably have a major market correction because that seems to be the length of time it takes each generation... READ MORE
.... Large-techs Tower over Small-caps .... September is a Coin Flip .... High-Low Percent Indicators are Dragging .... Fewer than 50% of Small-caps Above 200-day EMA .... SPY and QQQ Hold Flag Breakouts .... Monitoring the Upswing in IJR .... Finance Weighs as Healthcare Leads .... The Three Leaders (XLV, XLK and XLU) .... XLB Breaks Out as XLI... READ MORE
Special Announcement Tomorrow's StockCharts Outlook Webinar with Greg Schnell and me will be held at 11am EST. Please join us by registering HERE. Market Recap for Thursday, September 7, 2017 Thursday's action was just further confirmation of a strengthening healthcare group (XLV, +1.11%). The group... READ MORE
Over the past six months, the Dow Jones U.S. Gambling Index ($DJUSCA) has gained 27.35% to lead all consumer discretionary groups. In fact, renewable energy ($DWCREE) is the only industry group among all sectors to outperform gambling stocks. But the short-term outlook for gamble stocks changed on Thursday... READ MORE
Signal changes keep coming in with three important new ones today. USO had already logged a new IT Trend Model BUY signal this week and today gets to add a PMO positive crossover BUY signal to the chart. The Dollar has struggled mightily and continues to fall so it was... READ MORE
DOLLAR INDEX FALLS TO TWO-YEAR LOW... The weekly bars in Chart 1 show the PowerShares U.S. Dollar Index ETF (UUP) falling below its 2016 bottom to the lowest level since the start of 2015. Some of that has to do with the fact that bond yields in the states... READ MORE
Here is the link to the Market Roundup Video Recording for September 2017. Market Round Up Live With Martin Pring September 2017 from StockCharts.com on Vimeo. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily... READ MORE
Market Recap for Wednesday, September 6, 2017 Energy (XLE, +1.63%) has been the clear leader for the U.S. stock market the past week or so, but I'm not a fan just yet of the recent bounce continuing and morphing into an uptrend. Keep in mind that... READ MORE
.... Bollinger Bands Contract for Dow SPDR (plus BA and GS) .... QQQ Holds Breakout Zone .... Setting a Pullback Target for Apple .... A Boring Uptrend for Microsoft .... Facebook Breaks Wedge Line .... Alphabet and Amazon are the Weakest Links .... Mea Culpa on Intel and Target .... Charts Worth Watching (CY, PFE, AMGN, AGU, POT)... READ MORE
My email inbox presented two new important signals. First is the Intermediate-Term Trend Model (ITTM) BUY signal for USO. We've been watching it as it managed to find support and rallied strongly. Second is the Short-Term Trend Model (STTM) Neutral signal on the Dow Industrials. I've... READ MORE
STOCKS REMAIN ABOVE 50-DAY LINES... Stocks are ending the day on a strong note. Chart 1 shows the Dow Jones Industrial SPDR (DIA) remaining above its 50-day average. Chart 2 shows the S&P 500 SPDR (SPY) bouncing off its 50-day line as well. Chart 3 shows the PowerShares... READ MORE
Lowes (LOW) successfully tested the 71 area twice in July-August and surged above short-term resistance this week. At the risk of jumping the pattern, the two semi circles show a double bottom taking shape and a break above the August high would confirm this bullish reversal pattern. Also notice that... READ MORE
Market Recap for Tuesday, September 5, 2017 Hurricane Irma may still be well out in the Atlantic Ocean, but its bearish winds are being felt on the shores of Wall Street already. Irma is a monster and is now regarded as the most powerful Atlantic storm ever recorded and it&... READ MORE
A few new Price Momentum Oscillator (PMO) BUY signals appeared on the DP Scoreboards Thursday and Friday. Friday, the SPY generated a PMO BUY signal as well. You'll note on the charts below the Scoreboards, that these three major indexes had difficult days, but price managed to stay... READ MORE
* Long-term technical structure looks solid * Gold shares are solid * Hail silver! Back at the end of July in an article entitled Has $GOLD Got What It Takes For A Major Rally? I pointed out that gold was sporting some bullish characteristics to the extent that we would probably see a... READ MORE
.... Small-caps Take the Short-term Lead .... But Small-caps are Still Lagging Long-term .... IJR Surges Toward Chandelier Exit .... 10-yr T-Yield Firms Near June Lows .... Correlations with the 10-yr Yield .... Brent Stronger that WTI .... Two Bearish Stocks and One Bull .... There was a shift in leadership over the last two weeks with small-caps... READ MORE
Market Recap for Friday, September 1, 2017 The latest government nonfarm payrolls report came and went. The number was a bit disappointing, but the U.S. stock market handled it quite well and the bond market surprisingly sold off. Normally, you'd see traders move into bonds on weak... READ MORE
The Wyckoff Method is well suited to the concept of campaigning stocks. When a campaign works, a stock may be held for months to years while participating in a major uptrend. Mr. Wyckoff’s goal was to hold the campaign stock until the chart (tape) indicated selling by the large... READ MORE
The Australia All Ords Index ($AORD) is trading well below its April-May highs and stuck in a long and tight consolidation. In contrast, the Australian iShares (EWA) hit a 52-week high in late July and remains close to this high. Which one are we to believe? Are Australian stocks lagging... READ MORE
During the week, I wrote about gold (and gold miners) achieving upside breakouts and outperforming stocks for the first time since 2011. Gold, however, is also doing better than bonds for the first time in six years. Not just some bond categories, but all of them. The chart below plots... READ MORE
ALL BOND CATEGORIES ARE UNDERFORMING GOLD IN 2017... During the week, I wrote about gold (and gold miners) achieving upside breakouts and outperforming stocks for the first time since 2011. Gold, however, is also doing better than bonds for the first time in six years. Not just some bond categories,... READ MORE
One of my trading strategies is to trade the best stocks in the best industries at the best price. Sounds easy enough, right? But what does this mean exactly? Well, first I take a top down approach and review every industry group within each aggressive sector - technology, industrials, financials... READ MORE
As I prepared for the MarketWatchers LIVE segment on sentiment today, I was surprised to see investors and money managers are getting very bearish. Put/Call ratios show a bearish bias as well. It is important to remember that sentiment is a "contrarian" indicator. It works a bit... READ MORE
Q2 earnings season has come and gone and traders liked what they heard and saw. This is the primary reason the market has come to life, in spite of some things going on out there that might normally spook the market. For those of you out there who don'... READ MORE
Greg Morris gave us an article on "Fake News!" this week, and it prompted me to reflect on how much "Flood News" we have gotten: Reporters standing in water, reporters standing in front of water, reporters standing in the rain in front of water and in... READ MORE
Upfront, it’s important to note that unlike most investors who hear asset allocation and conjure up three asset baskets (stocks, bonds, cash), Tensile Trading presents an exhaustive all-inclusive buffet of 59 different asset classes from which you choose. Our book also shows to what extent each of these various... READ MORE
.... QQQ Leads with Breakout and New High .... Higher Highs > Weakening Momentum .... Small-caps Leading for Two Weeks .... Tech, Utes and Healthcare Lead Sector SPDRs .... Materials and Industrials Break Flag Lines .... Consumer Discret. SPDR Bounces off Support .... Financials Still Dragging .... Regional Bank SPDR Tests 2017 Lows .... Consumer Staples Show Internal Weakness... READ MORE
I have written about how inept the news is when it comes to the financial and stock markets before. Since I am retired I am trying to wean myself from the news. It isn’t easy as I’ve been a news junky for decades. In this article, I’m... READ MORE
Special Note Today marks my 2 year anniversary of writing daily articles here in Trading Places. It's spanned some 500 articles. I love what I do and am completely blessed to be able to write about something I'm very passionate about. I'd like to... READ MORE
It's the last day of the month so all of our monthly charts have "gone final". First, here are the DecisionPoint Scoreboards currently (you can add these to your member dashboard!). You'll note two new Short-Term Trend Model (STTM) BUY signals arrived on the... READ MORE
* NASDAQ is leading on the upside again * The Technology/Staples ratio continues to signal the all-clear for the whole market * Growth versus value is tipping towards growth NASDAQ is leading on the upside again Back in July the NASDAQ Composite was the epicenter for the coming market weakness, as it... READ MORE
STOCKS ARE ENDING THE MONTH ON A STRONG NOTE ... Although the month of August will still go down as the weakest month of the year, stock indexes appear to be ending the month on a strong note. And all of them are showing short-term technical improvement. Chart 1, for example,... READ MORE
I have to admit I love breakouts of long-term basing patterns and the Dow Jones U.S. Auto Parts Index ($DJUSAP) is currently in the midst of the mother of all basing patterns. Dating back to 2014, we've seen a number of price resistance tests that all finished... READ MORE