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
.... New Highs Expand in Large-caps and Mid-caps .... EW S&P 500 Reflects Broad Strength .... SPY Hits another New High .... QQQ Extends its "Overbought" Streak .... Small-caps and Mid-caps Perk Up .... New highs in XLY, XLK, XLI, XLV, XLU and XLP .... Good Weekend Stocks Lead XLY to New High... READ MORE
Market Recap for Thursday, June 1, 2017 U.S. equities had a very strong day on Thursday, with the small cap Russell 2000 leading the charge with a solid 1.89% gain. The move was also widely participated in, with all nine sectors finishing higher. Financials (XLF, +1.25%), a... READ MORE
Admittedly I was surprised that the market had just a brilliant day given the very bearish configuration of short-term market indicators. Apparently I should have paid more attention to the short-term buy signals that were produced over the past week or two. The rally brought the S&P 600... READ MORE
STAPLES AND CYLICALS BOTH HIT NEW HIGHS... We can often get clues about stock market direction by watching shifting rotations among market sectors. In a strong market, stocks tied to the economy usually lead. In a correction, defensive stocks lead. But what are we to make of a situation where... READ MORE
The Dow Jones U.S. Coal Index ($DJUSCL) spent 2016 bouncing from the ashes after a disastrous 2015 in which the DJUSCL lost 90% of its value. The "dead cat bounce" looks as though it may have ended as price action has rolled over and the weekly MACD... READ MORE
Market Recap for Wednesday, May 31, 2017 Utilities (XLU, +0.50%) and healthcare (XLV, +0.40%) led a defensive-oriented market on Wednesday with the latter nearing a significant bullish ascending triangle breakout. Materials (XLB, +0.30%) and consumer staples (XLP, +0.28%) also performed well. The aggressive sectors were mixed... READ MORE
.... Small-caps Bounce Back from the Abyss .... Lots of Winners and Losers Out There .... A Big Chemical Stock Breaking Flag Resistance .... An Industrial Stock Bouncing off Support .... Four Tech Stocks with Small Corrections .... Big Pharma Stocks Perk Up .... Three Miscellaneous Stocks: FBHS, SYY and XRAY.... Small-caps Bounce Back from the Abyss... READ MORE
It's the last day of the month and consequently time to review the monthly charts that have just gone final. There are some interesting configurations, especially on the Dollar and Bonds which I'll cover later in the blog. I'd like to start first with... READ MORE
FALLING BOND YIELD PUSHES YIELD CURVE LOWER... The divergence between falling Treasury bond yields and rising stock indexes may be starting to take its toll on the stock market. Major stock indexes are in the red today. The biggest selling, however, is coming from small caps and financials. At the... READ MORE
The Russian Trading System Index ($RTSI) is struggling this year and down around 6.5% year-to-date. In contrast, the S&P 500 is up over 7% year-to-date and the Eurotop 100 ($EUR) is up around 6.5%. In addition to relative weakness, the index sports a bearish continuation pattern... READ MORE
Market Recap for Tuesday, May 30, 2017 Technology (XLK, +0.43%) remains the heart of this current bull market. The XLK was the sector leader on Tuesday, with utilities (XLU, +0.32%) a close second. Over the past week, utilities and consumer discretionary (XLY) hold a slight edge over technology.... READ MORE
No new changes to report today. Although we are seeing BUY signals on all of the DecisionPoint Scoreboards, the short-term picture is not that bullish according to our other market indicators. The purpose of the DecisionPoint Alert Daily Update is to quickly review the day's action, internal condition,... READ MORE
* Long-term background for bonds * Bond Prices at a critical short-term juncture point * Is the 5-year yield forming a massive top? * Utilities moving in sympathy with bonds * Interest sensitive REITS starting to improve * Follow the commodities Long-term background for bonds A lot of people are betting that stronger economic data will... READ MORE
Market Recap for Friday, May 26, 2017 Friday's action was slightly bullish overall, but there was little difference between the best performing sectors and the worst performing sectors. Consumer stocks performed well with consumer staples (XLP, +0.37%) and consumer discretionary (XLY, +0.30%) leading all sectors. On... READ MORE
.... IJR Mean-Reversion Trade in Play .... Marking Upswing Support for MDY .... Chinese Stocks Spring to Life .... Asian Index ETFs Show Broad Strength .... Finding Stocks within an Industry Group .... Aluminum Stocks Look Poised for Upturn .... Railroad Stocks Lead with Big Gains .... Stocks to Watch: MON, FLIR, CY, PANW, PAYX, WWW .... IJR Mean-Reversion... READ MORE
Infinera (INFN) gapped higher in February on massive volume, but has been falling in a descending channel ever since. Volume accelerated on Friday as INFN clearly broke this down channel. The reversal also is taking place after a key gap support level was filled and tested. Take a look at... READ MORE
Last week I said that I was expecting the market to do a little more work on the downside before the bull market resumed, but the market had other ideas. Prices continued to rally, and on Thursday SPY broke to new, all-time highs. Volume expanded on that day, but it... READ MORE
Wyckoffians often break up a large Point and Figure count into smaller count objectives. A large count objective usually requires a significant period of time to be fulfilled and pauses will occur along the way. Sometimes these pauses result in a period of Reaccumulation prior to moving on to higher... READ MORE
So you’ve heard about Exchange Traded Funds (ETFs). You’ve heard that they are cheap. You’ve heard that mutual fund managers cannot outperform ETFs. You’ve decided that a chunk of your nest egg should be in Healthcare. A friend suggested XPH because it holds stocks like Eli... READ MORE
GROWTH STOCKS ARE LEADING THIS YEAR'S STOCK RALLY... The S&P 500 and the Nasdaq hit new record highs yesterday, and the Dow isn't far behind. Large parts of the stock market, however, are lagging behind. That's not necessarily a good thing. The... READ MORE
.... Stocks Bounce without Biotechs .... Breadth Remains Bullish, but Weakening .... Nasdaq Stocks Support S&P 500 .... QQQ Hits Yet Another New High .... Small-caps Not Feeling the Love .... Sector Balance Clearly Bullish .... %Above 200-day Ranking for Sectors .... XLU, XLP, XLI and XLK Lead with Fresh Highs .... TLT Holds Surge and Breakout... READ MORE
Market Recap for Thursday, May 25, 2017 Retailers led another U.S. market rally on Thursday and helped provide leadership for the consumer discretionary sector (XLY, +0.88%), which outperformed the benchmark S&P 500 for one of the few times over the past 2-3 weeks. There had been... READ MORE
As noted in the DP Scoreboard Summary below, all four major indexes triggered PMO BUY Signals today as the PMO crossed above its signal line. This certainly confirms the ST Trend Model BUY signals that appeared after yesterday's strong rally. You'll note in their charts below... READ MORE
* Lots of supporting breakouts * Confidence ratio on the verge of a major bullish breakout? * Financials: trick or treat? * The US is due for a bounce against the rest of the world * Is it time to play the China card? Lots of supporting breakouts Last week I pointed out that the... READ MORE
Recently, competitor Cisco Systems (CSCO) broke out to a 15 year high. While Juniper Networks (JNPR) hasn't seen its price move to decade and a half highs, it is on the verge of breaking to a six year high amid very heavy volume. JNPR traded more than 25... READ MORE