* Widespread dissemination of tech sell-off * Bears, not so fast * Not all tech sub groups experienced Friday’s selling spree * Commodities are down, but are they out? Widespread dissemination of tech sell-off In the last few days, we have seen a tremendous amount of financial media space alerting us to Friday&... READ MORE
Market Recap for Monday, June 12, 2017 U.S. indices fell in unison on Monday and the tech-laden NASDAQ led the action, but after Friday's bloodbath, it certainly could have been worse. Based on overall action Friday and Monday, it appears to be a healthy rotation from the... READ MORE
.... QQQ Suffers Biggest Loss since early November .... EW Industrials Sector Nears New High .... Cummins and JetBlue Lead Industrials .... New Highs for EW Materials ETF and Cemex .... CA Forms Out-of-Place Ascending Triangle .... Cypress Semi Falls Back into Correction .... Double Top and Death Cross for F5, but .... Zimmer Biomet Fills Gap with... READ MORE
As the market closed, I received a Technical Alert that the NDX had triggered a PMO SELL signal. Additionally, I received notice that a new Intermediate-Term Trend Model (ITTM) BUY signal just occurred today on the Financial SPDR (XLF). I've updated the NDX Scoreboard. It is the first... READ MORE
Nucor (NUE) is flat year-to-date and lagging the S&P 500, but the bigger trend is up and short-term momentum is turning up. The bigger trend is up because Nucor surged to a 52-week high in early December and the 10-week EMA remains above the 40-week EMA, even after... READ MORE
Market Recap for Friday, June 9, 2017 They say a picture can say a thousand words so before I further discuss the carnage from Friday, take a look at this performance chart of NASDAQ 100 components: Several of the best performing stocks (based on SCTR scores) were absolutely hammered on... READ MORE
The first thing you must realize is that you won’t know it is peaking until the decline is well underway. Market tops are extremely difficult to identify. That might seem hard to believe if you watch the financial media as those 'experts' are calling the top multiple... READ MORE
If you're someone that finds great investments among the high SCTR (StockCharts Technical Rank) stocks, you probably enjoy better than average returns most of the time. However, Friday was not one of those times. The NASDAQ 100, clearly the best performing index among our major indices in 2017,... READ MORE
Last week I wrote: ". . . the spike in S&P 500 New Highs makes me think that the market may be on the verge of another consolidation or correction that could last several weeks." I still think that outlook is viable, based upon this week's price... READ MORE
Tesla has just achieved a market capitalization that is larger than either Ford or General Motors. Currently Tesla manufactures just two different models (with a third on the way). How is it possible that Tesla has a valuation that exceeds these two Detroit behemoths? As a Wyckoffian I will tell... READ MORE
As the week closes, we did see one new signal change on the DecisionPoint Scoreboards that I wanted to point out. The S&P 100 (OEX) triggered a new PMO BUY signal on the weekly chart. I wouldn't get overly excited given the PMO has flattened and... READ MORE
* The head and shoulders that did not “work” * Inflation versus deflation sectors * Which are the financial sector stars? * Why financials matter The head and shoulders that did not “work” On this same date in May we published an article suggesting that financials could be an interesting area to monitor for... READ MORE
At a May 20th presentation to the Seattle chapter of the AAII, Paul Merriman confirmed to me his standing as a respected elder of investment management. Since selling his multi-billion dollar advisory firm in 2012, he has been running a financial education foundation. His motto “knowledge is power” is an... READ MORE
HEAVY PROFIT-TAKING IN TECHNOLOGY... An overbought technology sector is being sold heavily today. Chart 1 shows the PowerShares Nasdaq 100 (QQQ) tumbling in heavy trading. That's mainly big technology stocks. Chart 2 shows the Technology SPDR (XLK) looking just as bad. The FANG stocks are a big part... READ MORE
.... Bullish until it Ain't (seasonality) .... SPY Extend Higher .... Small-caps Challenge for Leadership .... Finance Sector Bids to End Correction .... Insurance Leads and Regionals Play Catch Up .... Materials Sector Hits New High .... XME Makes a Bid to End Correction (plus steel) .... Copper and Aluminum Bid to End Corrections .... Four Aluminum... READ MORE
Market Recap for Thursday, June 8, 2017 Small caps were the clear and undeniable leader on Thursday as the Russell 2000 gained 1.36% while the NASDAQ was the second best performing index at +0.39%. I posted yesterday in this blog that the Russell 2000 needed to clear 1420... READ MORE
Over the past week, it's been about an even split among sectors in terms of winners and losers. Industrials (XLI) is one sector that's been slightly lower over the past week, but technically things still look very bright in this space. Broken price resistance generally becomes... READ MORE
.... Finding Strong and Persistent Uptrends .... Understanding Your Indicators .... A Simple Trend Following .... Measuring Trend Strength .... Focus on a Failure .... Strong Uptrend Scan Code .... Current State of the Market .... Finding Strong and Persistent Uptrends There are some incredibly strong and persistent uptrends in the market right now and I would like... READ MORE
FINANCIAL SPDR TURNS SHARPLY HIGHER... Financial stocks are having a very strong day. Chart 1 shows the Financial Sector SPDR (XLF) surging to the highest level in a month and, in the process, clearing its 50-day average. That puts the XLF in position to challenge its spring highs. A decisive... READ MORE
Market Recap for Wednesday, June 7, 2017 Crude oil ($WTIC) took a dive on Wednesday as inventories rose unexpectedly, causing a bit of panic among traders. Inventory supplies had fallen for eight straight weeks and traders were anticipating another drop of 3.5 million barrels. Instead, at 10:30am EST,... READ MORE
During today's MarketWatchers LIVE Show (12:00 - 1:30p MWF), the big news was the correction on Oil. Oil prices dropped more than 5 percent after the government reported an unexpected increase in crude inventories. After global producers cut inventories, the hope had been that supplies would... READ MORE
TRANSPORTS CONTINUE TO GAIN... The daily bars in Chart 1 show the Dow Jones Transportation Average reversing higher today to continue its recent upturn. After finding support at its 200-day average during May, the TRAN rose above a three-month resistance line last week to signal its takeoff. It now appears... READ MORE
After struggling the first three months of the year, Vulcan Materials (VMC) is showing signs of life since late March with good upside volume and a breakout in early May. Notice that the stock broke above a resistance zone in the 122-125 area and this zone turns into support. The... READ MORE
Market Recap for Tuesday, June 6, 2017 Energy (XLE, +1.18) was easily the best performing sector on Tuesday as materials (XLB, +0.06%) was the only other sector to finish in positive territory - barely. Over the last five trading days, the XLE has printed a hollow candle (closing... READ MORE
The markets have been backing off this week but so far it hasn't shifted any short-term timing signals on the DecisionPoint Scoreboards. Gold rallied today and finally hurdled long-term overhead resistance along a declining tops trendline that originally formed in 2012. Price has made numerous attempts at pushing... READ MORE
Market Recap for Monday, June 5, 2017 It wasn't a horrible day on Wall Street. After all, we've been in a strong advance since mid-May with the S&P 500 rising nearly 4% during that span. So a little bit of profit taking shouldn'... READ MORE
.... IJR Mean-Reversion Trade Exit .... Gold Rises without the Gold Miners .... Regional Banks Continue to Struggle .... Using an EMA Ribbon to Define the Trend (MA) .... Three Failed Setups (NTAP, STX, BMY) .... Hawaiian Holdings Bounces off Breakout .... Bullish Setups for MLM and CSRA .... A Bearish Setup for IRM .... IJR Mean-Reversion Trade Exit... READ MORE
United Parcel Service (UPS) has been lagging the broader market this year, but may be turning around as it bounces off support and momentum turns up. UPS surged to a 52-week high in December and then retraced 50% with a sharp decline in January. The stock managed to firm near... READ MORE
Market Recap for Friday, June 2, 2017 Technology (XLK, +0.92%) led U.S. equities higher on Friday and that's been the case for several months now. The XLK has been the best performing sector with a current SCTR (StockCharts Technical Rank) reading of 92 further validating that.... READ MORE
Fortinet (FTNT) is down roughly 5% from its recent price high as money rotates within the software industry ($DJUSSW). It's up close to 30% year-to-date, however, so a little profit taking in the short-term is likely providing an opportunity. FTNT looks to be approaching and testing a key... READ MORE
Internet stocks ($DJUSNS) have climbed roughly 44% since their bottom in late June 2016. But there are now negative divergences appearing across various time frames and that suggests the summer time could be a period of consolidation, or even a correction. First, let's take a look at the... READ MORE
The market has been on fire lately with all of the major indexes hitting all time highs. In spite of some recent weak economic reports, including a miss on Friday's jobs report, and in spite of all of the political "noise" swirling around, stocks have powered... READ MORE
Several of my recent messages have focused on the divergence between large and small cap stocks. Wednesday's message suggested that part of that divergence was due to stronger foreign markets. Large cap multinationals do better when foreign markets are strong, which is the case at the moment. Small... READ MORE
Last week I wrote: ". . . our short- and intermediate-term indicators suggest that we will see a few more weeks of rally before another correction/consolidation." In the first two days of this short week price continued to consolidate the prior week's advance, and then the rally continued... READ MORE
Time for another ‘Stupid Chart Trick’ (click here for a prior chart trick). I have counted about one zillion (this might be a slight exaggeration, but barely) Point and Figure chart formations. As a consequence of this personal passion, I have devised some counting conventions that have proven to be... READ MORE
Trading and investing are all about putting the odds in your favor, and chartists can increase their odds with one key assumption: the trend will remain in force until proven otherwise. Coming from the writings of Charles Dow, this assumption means a trend in motion is expected to stay in... READ MORE
The S&P 500 garnered a new PMO BUY signal on the weekly chart. Now we have two Scoreboards that are completely green. Technology has been a darling for quite some time so it is no surprise to see the oldest BUY signals residing on its Scoreboard. The two... READ MORE
This Relative Rotation Graph holds the top 50 (based on market cap) members of the S&P 500 Industrials sector index (XLI). This sector accounts for just over 10% of the S&P 500 market cap and is the fifth largest sector in this index. At the moment... READ MORE
I had a shock recently. I met a couple who was in the midst of what I considered to be a personal financial coronary, yet they were totally oblivious to the perils facing them. Both husband and wife were professionals with advanced graduate degrees. Despite their intelligence and educations, neither... READ MORE
Here is the link to this months Market Round Up with Martin Pring for June 2017. Don't forget to use the HD button for better quality. Market Round Up Live With Martin Pring 2017-06-02 from StockCharts.com on Vimeo. Good luck and good trading, Martin J. Pring... READ MORE