DOW AND S&P 500 MAY BE SLIPPING BELOW 50-DAY LINES... The short-term trend for the market continues to weaken. Chart 1 shows the Dow Jones Industrial SPDR (DIA) trading below its 50-day average in early afternoon trading. The DIA hasn't closed below that support line since... READ MORE
Market Recap for Tuesday, April 11, 2017 The Volatility Index ($VIX) hit its lowest level since mid-November on Tuesday, nearly reaching 16 before backing off and closing at 15.07 and up 7.26% on the session. That development is significant because the S&P 500 has remained above... READ MORE
No changes on the DecisionPoint Scoreboards. You'll find these boards in the DP Chart Gallery. However, we did get a new Intermediate-Term Trend Model (ITTM) Neutral signal on the equal-weight Financials ETF (RYF). The purpose of the DecisionPoint Alert Daily Update is to quickly review the day'... READ MORE
.... Alphabet Lags within the Fab Five .... Banks Hold Support, but Fail to Follow Through on Reversal .... UAL Bounces on Seemingly Bad News .... Celgene and Illumina Lead Biotechs (XBI) .... Measured Move Target for NVDA .... QQQ remains one of the strongest major index ETFs because four of the five top stocks hit... READ MORE
Market Recap for Monday, April 10, 2017 It was a back and forth kinda day on Wall Street with the finish coming up fairly flat with minor gains across the board. Tesla (TSLA) and Harley Davidson (HOG) were winners and helped lead automobiles ($DJUSAU) to leadership in the consumer discretionary... READ MORE
I'm really enjoying myself co-hosting the MarketWatchers LIVE webcasts Monday/Wednesday/Fridays at 12:00p - 1:30p EST. On Mondays and Wednesdays in this blog, I'll pick up an interesting topic or chart to elaborate on. I have to thank one of our Twitter followers... READ MORE
It has been a rough year for General Electric (GE) because the stock is down around 4% and underperforming the S&P 500 SPDR (SPY), which is up around 6% this year. Despite relative weakness, momentum is improving as MACD edges into positive territory and the stock is bouncing... READ MORE
I have mentioned many times I that I basically only work with daily market data. I do not have the personality to deal with intraday data and weekly data is only good for long term use. I do have a few weekly data indicators that I use as overlays to... READ MORE
Market Recap for Friday, April 7, 2017 Consumer staples (XLP, +0.27%) and healthcare (XLV, +0.18%) were the sector leaders on Friday as our major indices finished near the flat line. Money rotated a bit towards defensive stocks, although utilities (XLU, -0.43%) failed to follow its defensive counterparts... READ MORE
Kratos Defense & Security Solutions (KTOS) has been in a steady uptrend for the past 15 months and its SCTR (StockCharts Technical Rank) has risen back above 70, suggesting that KTOS is becoming more attractive relative to its peers. It does still have plenty of technical work to do as... READ MORE
1. False moves in the precious metal pits 2. Outside day in silver tips the near-term balance to the bears 3. More false breaks in the bond pits Late last week I wrote that several markets had recently experienced false moves, known as whipsaws. It seems that Friday saw this... READ MORE
The Relative Rotation Graph above holds some the major world market indices and compares them to the FTSE all world index ($FAW) as the benchmark. Straight from the RRG above we can make a few interesting observations. Starting in the lagging quadrant, we find continued weakness for China ($FTX) and... READ MORE
.... Broad Market Breadth Remains Weak .... SPY Stalls within Pullback .... Bearish Failure Swing forms in QQQ .... IJR Tests Consolidation Lows .... Tech, Discretionary and Staples Hold Up .... Utilities and Materials Stay Strong .... Finance, Industrials and Healthcare Correct .... XLE Attempts a Channel Breakout (plus XOM) .... Oil Holds Uptrend with Surge .... TLT Challenges Consolidation... READ MORE
In 1987 Hank Pruden decided to take a break from teaching the Technical Analysis Courses at Golden Gate University. He offered me the job of teaching these courses during his absence. I was honored by his invitation and accepted. His sabbatical went on for three years and I believe it... READ MORE
*** IMPORTANT NOTE: We are making some changes to our DecisionPoint blogs and webinars starting on April 1st.Click here for more details. *** Despite a negative reaction to Fed comments, and the U.S attack on a Syrian air base, the market held steady within the current corrective phase. The 10-minute... READ MORE
MAJOR STOCK INDEXES HOLD 50-DAY LINES ... Entering today's trading, stocks were relatively flat on the week. Bond prices, however, were nearing the top of their 2017 trading range. Other safe haven assets like gold and the yen have been bouncing as well. Yesterday's missile attack on... READ MORE
My intent with this Action Practice is not to wax on about the importance of understanding what the markets’ current preferences are. My point is simply that if the markets are favoring growth over value, then as investors, our probabilities are enhanced when we invest with the growth winds at... READ MORE
Market Recap for Thursday, April 6, 2017 Yesterday, we saw better relative action on the Russell 2000, a positive for equities. However, that has not been the case over the past week as you can see from the chart below: There's been a slight uptrend in Dow stocks... READ MORE
Charter Communications (CHTR) extended its multi-year uptrend in late January with a heavy volume gap higher. CHTR spent the next several weeks consolidating and unwinding very overbought conditions. But the stock began to resume its prior strength after its RSI touched the 40s (black arrow below) and its MACD hit... READ MORE
No new changes on the DP Scoreboards. I was expecting to see the Dow trigger a Short-Term Trend Model BUY signal, but with yesterday's failed breakout and price stagnating over the past week or two, you can see that the 5-EMA is maintaining below the 20-EMA with little... READ MORE
* A few words on false moves * US market experiences false upside breakout this week * Whipsaws in the sectors * European currency whipsaws A few words on false moves Prices in financial markets are driven principally by psychology. They effectively reflect people in action. The problem is, that people can and do... READ MORE
.... Universe and Trend Filter .... Bollinger Band Setup Code .... StockRSI Trigger Code .... Rate-of-Change Sort Code .... Scan Code in Full .... TTM Technologies Setup and Signal .... Conclusions and Suggestions .... Scan Code for Bollinger Band Squeeze This article will focus on the scan code for last week's System Trader article featuring the... READ MORE
Market Recap for April 5, 2017 The release of the FOMC minutes was widely anticipated to see if there were any hidden nuggets of information from the last Fed meeting. Traders apparently were not happy that the Fed is discussing an unwinding of its balance sheet earlier than expected. That... READ MORE
Market Recap for Tuesday, April 4, 2017 U.S. equities opened lower on Tuesday, but steadily marched higher throughout the day, finishing with mostly small gains across the board. The small cap Russell 2000 was an exception as it fell for a second consecutive session. That follows a winning streak... READ MORE
The DecisionPoint Scoreboards updated with a new signal change today. The $OEX just managed a new Short-Term Trend Model BUY signal. The 5-EMA crossed above the 20-EMA triggering the signal. Right now price is running along the declining tops trendline. The PMO is no longer rising and that is a... READ MORE
DOW JONES US PIPELINES INDEX IS TURNING UP ... My last two messages suggested that the energy sector was trying to stabilize near its 200-day average. That's based on the assumption that the price of oil is also bottoming. My Saturday message further suggested that oil service stocks were... READ MORE
Here is a link to this week's video. Market RoundUp With Martin Pring 2017-04-04 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 reflect the position or opinion of... READ MORE
Market Recap for Monday, April 3, 2017 It was a rough day on Wall Street to open the month of April, but an afternoon rally did minimize any damage technically. The Russell 2000, the recent leader among our major indices, was trampled and lost 1.17%, while the Dow Jones... READ MORE
.... Still in Corrective Mode .... Newmont Mining Stalls with Pennant .... Surge in TLT and Bounce in the Dollar Baffles Gold .... Watch Baker Hughes and ExxonMobil for Clues on Energy Stocks .... Kellogg and Monster Turn Lower within Downtrends .... Pfizer and Thermo Fisher Correct after Surge .... Still in Corrective Mode I have a... READ MORE
MarketWatchers LIVE kicked off today at noon EST! Tom Bowley and I host this new webcast Monday, Wednesday and Friday from 12:00p - 1:30p EST. Very soon we will have a public ChartList available for the show as well as a MarketWatchers LIVE blog that will recap some... READ MORE
The Russell 2000 surged last week and this bounce gives chartists a clear level to watch going forward. The chart below shows the small-cap index surging from early November to early December and then stalling between 1330 and 1390 for nine weeks. The index exceeded the early December high and... READ MORE
Special Announcement I'm very excited to announce the beginning of our new StockCharts.com show featuring me and Erin Heim. We'll have fun covering the global markets, discussing stocks on the move, providing technical analysis education and highlighting the various tools available here at StockCharts, among... READ MORE
.... WTI and Brent Battle the $50 Level .... Gasoline Looks Poised to Continue Uptrend .... Industrial Metals Remain in Uptrends .... Silver Surges off Breakout Zone .... Two Emerging Market ETFs in Asia .... New Zealand ETF Bounces off Breakout Zone .... Colombia ETF Breaks Out of Flag .... I am going to mix it up a... READ MORE
Bullish rotation continues in most areas of the market and we saw a perfect example of that last week in the Dow Jones U.S. Defense Index ($DJUSDN). The DJUSDN had a HUGE month in February, gaining roughly 6.5% in that month alone. That swamped the benchmark S&... READ MORE
Many market pundits on CNBC continue to predict a market top, discussing how we've run too far too fast and that valuations are too high and blah, blah, blah. Fear sells and CNBC is all about their ratings and advertisements. There's an occasional nugget of solid... READ MORE
My last two messages have stressed the importance of the 200-day moving average. It's what separates uptrends from downtrends. In order to sustain a bull market, more stocks have be above their 200-day average than below it. And that is currently the case. The red line in Chart... READ MORE
If you trade stocks you're going to run into situations where you question whether or not you are making good decisions. This could include identifying entry levels and setting price targets and stop losses. It could also include pulling the trigger on a trade, taking a loss or... READ MORE
MARTIN MARIETTA MATERIALS BOUNCES OFF 200-DAY AVERAGE... My Thursday message showed three stock groups that had fallen to their 200-day averages and were starting to stabilize. They included commodity-related groups like energy and metals and mining ETFs. They also included heavy construction stocks like Fluor (FLR) and Jacobs Engineering (JEC)... READ MORE
Patience was rewarded today as the Long-Term Price Momentum Oscillator (PMO) confirmed a BUY signal that had been pending most of the month. We don't log new monthly PMO signals until the chart goes "final" on the last trading day of the month. Similarly, we don&... READ MORE
*** IMPORTANT NOTE: We are making some changes to our DecisionPoint blogs and webinars starting on April 1st. Click here for more details. *** The DecisionPoint Weekly Wrap presents an end-of-week assessment of the trend and condition of the stock market (S&P 500), the U.S. Dollar, Gold, Crude Oil,... READ MORE