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HEALTHCARE PROVIDER INDEX REACHES SIX-MONTH HIGH -- LED BY AETNA AND ANTHEM -- RAIL INDEX TURNS UP -- LEADERS ARE NORFOLK SOUTHERN, KANSAS CITY SOUTHERN, AND UNION PACIFIC -- DOW TRANSPORTS EXCEED MAJOR RESISTANCE LINE -- S&P GROWTH ISHARES UNDERPERFORM
by John Murphy,
Chief Technical Analyst, StockCharts.com
HEALTH CARE PROVIDERS INDEX TURNS UP ... I've been writing a lot about the recent upturn in the healthcare sector. Most of my attention has been on biotechs, pharmaceuticals, and medical equipment stocks (Boston Scientific, Thermo Fisher, Zimmer, and Waters). Today's message will focus on health care...
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Breadth Remains Strong Enough - The Effect of Rising Rates on Key Assets and ETFs - Video
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
SPY Challenges the Top of the Range // QQQ Continues to Lag SPY // Breadth Remains Strong Enough // High-Low Percent Wanes in April // Treasury Yields Could be Bottoming // Assets Affected by Rising Rates // Breakouts for the Finance, Bank and Broker ETFs // Oil Hits Prior Support Breaks // Gold Battles Flag Breakout // Dollar Turns...
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Market Bifurcation Intensifies As Utilities Fall Beneath Key Moving Average
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Thursday, April 21, 2016
The Dow Jones dropped 114 points on Thursday, marking only the fourth time in the past two months it's lost more than 100 points during a session. The climb has been steady with few declines of any magnitude as energy (XLE)...
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Nasdaq 100 Loses February PMO BUY Signal
by Erin Swenlin,
Vice President, DecisionPoint.com
The Nasdaq 100 had managed to avoid a Price Momentum Oscillator (PMO) SELL signal while the other major indexes on the DecisionPoint Scoreboard did not. Of course, their PMO SELL signals only lasted a week as whipsaw PMO BUY signals arrived shortly thereafter. The NDX's previous BUY signal...
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Indicators Still Mixed As The Market Reaches All-Time Highs
by Martin Pring,
President, Pring Research
* Coppock Curve on a buy and sell?
* Record high indicator signals a bull market
* 6/180 PPO right on the cusp of a bull market signal
* Short-term overbought condition argues for a pause
* Commodities breaking to the upside
* Interest rates waffling
During the last couple of months I have been...
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VALUE STOCKS GAIN ON GROWTH -- VALUE GROUPS INCLUDE FINANCIALS, ENERGY, AND HEALTHCARE -- STAPLES AND UTILITIES TURN DOWN ON BOUNCING BOND YIELDS -- RISING COMMODITIES HURT BOND PRICES -- VERIZON LEADS TELECOM LOWER AS DIVIDEND-PAYING STOCKS WEAKEN
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 GROWTH ISHARES ARE STARTING TO LAG... For the first time since the latest bull market began in 2009, value stocks are gaining ground on growth stocks. The bull market is in its seventh year and looking very mature. One way some investors are participating in the...
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Energy And Banks Lead Continuing Stock Market Parade
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Wednesday, April 20, 2016
Energy (XLE) once again found itself on top of the relative leaderboard in terms of sector performance. The XLE gained .90% on Wednesday. Oil equipment and services ($DJUSOI) gained over 1% and broke to fresh highs. Here's an update on that...
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Gaps are Holding - Sector Rotation is Bullish - Yield Surge is Positive for Stocks
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Large-caps Still Leading, but Small-caps Perk Up // Mind the Gaps in SPY and IWM // Sector Rotation is Bullish for Broader Market // XLI, XLK and XLY Near 52-week Highs // XLY, XLI and XLK Hold Consolidation Breakouts // Utilities and Staples Suffer as Bond Surrogates // Short-term Leaders Remain Strong // Yield Surge is Bullish...
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Know Thyself II
by Greg Morris,
Veteran Technical Analyst, Investor, and Author
The first article on Know Thyself generated a lot of interest, so here is the second one. Welcome to being human! Do you really know that person you see while shaving or applying makeup? If you are going to be a successful investor/trader, you better get to know him/...
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A Dramatic Shift in Sector Rotation this Month
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
There has been a clear changing of the guard in April and chartists can see this change with a PerfChart on two different timeframes. The first PerfChart shows performance for the nine sectors SPDRs and SPY for the first three months of the year. Notice that the Consumer Staples SPDR...
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U.S. Stocks Dodge Bullets, Edge Closer To Record Highs
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Tuesday, April 19, 2016
Nothing seems to be able to slow down this market freight train. Not disappointing housing data. Not a continuing rush into treasuries. Not weak guidance from IBM and Netflix (NFLX). Not negative divergences across multiple time frames. Literally nothing. Yes, the market did...
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All-Time Highs Not Yet Being Tested on Scoreboard Indexes
by Erin Swenlin,
Vice President, DecisionPoint.com
The DecisionPoint Chart Galleries include not only the S&P 500, but for members, there are also the Nasdaq 100, S&P 100 and Dow Industrials Chart Galleries. Finding the Chart Galleries is easy, you'll find a link in the center line of the home page...
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FREEPORT MCMORAN AND SOUTHERN COPPER RISE WITH PRICE OF COPPER -- SILVER SHARES SURGE WITH THE COMMODITY -- SILVER STANDARD RESOURCES AND SILVER WHEATON NEAR UPSIDE BREAKOUTS -- FIRST MAJESTIC SILVER SURGES IN CANADA -- TORONTO STOCK INDEX LOOKS STRONG
by John Murphy,
Chief Technical Analyst, StockCharts.com
COPPER SHARES SURGE ON RISING PRICE OF COPPER... Money continues to flow into shares tied to industrial and precious metals. Copper shares are rising with the commodity. Copper is up nearly 2% today and 13% from its January bottom. Chart 1 shows Freeport McMoran (FCX) surging 7% to reach the...
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Dow Hits 18000; IBM, Netflix Weighs
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Monday, April 18, 2016
All nine sectors rallied on Monday to support the Dow Jones' breakout above the psychological 18000 barrier. Energy (XLE) and consumer discretionary (XLY) led the broad-based rally with gains of 1.65% and .94%, respectively. Healthcare (XLV) tacked on a .93% gain....
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New Highs for SPY, DIA and several AD Lines - Risk Indicators Turn Up - Webinar Video
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
New Highs for SPY and DIA // Uptrends Extend for SPY, QQQ and IWM // New Highs in Several AD Lines // Risk Indicators Turn Up Again // Five Clear Sector Leaders // Three of Five FAAAM Stocks Strong // Webinar Highlights ////
New Highs for SPY and DIA
The weight of the evidence remains bullish for...
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HEALTHCARE SPDR TRADES OVER 200-DAY AVERAGE -- WATERS CORP BREAKS OUT TO NEW HIGH -- ABBV, AMGEN, AND GILEAD SHOW STRONGER CHART PATTERNS -- PHARMA IS BEING LED HIGHER BY MERCK AND BMY -- ABBOTT LABS CLEARS 200-DAY LINE
by John Murphy,
Chief Technical Analyst, StockCharts.com
HEALTHCARE SPDR CLEARS 200-DAY AVERAGE... Healthcare stocks continue to get better. The daily bars in Chart 1 show the Health Care SPDR (XLV) trading back over its 200-day average and at the highest level since the start of the year. The XLV/SPX ratio (top of chart) has been rising...
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Dow Jones Nears 18000 Resistance With Negative Divergence
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Friday, April 15, 2016
The last significant top on the Dow Jones occurred on November 3rd when it posted an intraday high of 17978 and closed at 17918. The action late last week challenged those two levels when the Dow Jones hit an intraday high of 17962...
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Accumulation Distribution Line Leads Big Move in EA
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Electronic Arts (EA) got a big bounce off support with expanding volume and a strong Accumulation Distribution Line. On the price chart, EA plunged in late January and early February on high volume and this looks like a selling climax. The stock quickly recovered with pretty good volume and then...
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Oil Enters Potential Reversal Zone - XLE Forms Another Wedge - XES Lags
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Oil Hits Resistance in Retracement Zone // Energy and Finance Lagging Overall // XLE Forms Yet Another Wedge // Short-term Breakout Holding for XLE // Oil & Gas Equip & Services SPDR Lags XLE ////
Oil Enters Potential Reversal Zone
In Friday's commentary, I noted that oil was in a long-term downtrend and...
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Slowing Momentum WAS A Problem For This Insurer
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Negative divergences that appear on daily charts tend to take a couple weeks to play out before we see momentum potentially resume back to the upside. That seems to be where Progressive Corp (PGR) currently stands. On PGR's most recent price high, its MACD did not follow suit,...
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Bottom fishing in the Energy sector..
by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com
The energy sector has been a very poor performing sector for a very long time. However, on the Relative Rotation Graph for US sectors (ETFs), XLE is now way up inside the improving quadrant and heading right towards leading. This makes it a good sector to dissect on an individual...
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Financials Have a Strong Week, As Do Economically-Sensitive Materials and Industrials
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCIALS HAVE A STRONG WEEK...Financials went from the year's weakest sector to the strongest gainer this past week. Chart 1 shows theFinancials Sector SPDR (XLF)climbing to the highest level in three months and challenging its 200-day moving average (red arrow). The dotted line, which is theXLF/...
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Earnings Season off and Running
by John Hopkins,
President and Co-founder, EarningsBeats.com
Alcoa reported its numbers after the bell last Monday which served as the kick off for first quarter earnings season. This was followed by a few big banks and then next week we'll get hundreds of more companies reporting their numbers.
Earnings season is important because when everything...
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FINANCIALS HAVE A STRONG WEEK -- SO DO ECONOMICALLY-SENSITIVE MATERIALS AND INDUSTRIALS -- SMALL AND MIDCAP INDEXES TURN UP -- EQUAL-WEIGHTED S&P 500 ETF BREAKS OUT -- NYSE ADVANCE-DELINE LINE HITS NEW RECORD -- FTSE ALL-WORLD EQUITY INDEX TURNS UP
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCIALS HAVE A STRONG WEEK... Financials went from the year's weakest sector to the strongest gainer for this past week (+3.8%). Chart 1 shows the Financials Sector SPDR (XLF) climbing to the highest level in three months and challenging its 200-day moving average (red arrow). The dotted...
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Taking Note of the New ChartNotes Annotation Tool
Hello Fellow ChartWatchers!
After pausing 5 days to catch its breath, the Dow powered higher this week and is close to breaking overhead resistance from the peak set last November. In addition, the Dow's 50-day Moving Average looks set to move back above its 200-day Moving Average -...
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Where Should We Look For May Strength?
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Based on April performance alone over the past 20 years, the best industry groups to invest in have been the following:
$DJUSHL (Hotels & Lodging REITs) +12.4%
$DJUSAU (Automobiles) +10.3%
$DJUSRL (Retail REITs) +9.7%
$DJUSES (Real Estate Services) +8.9%
$DJUSTR (Tires) +7.9%
All five of...
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Small-caps and Financials Perk Up, but Still Lag Overall
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
It was a pretty good week for the stock market with the Russell 2000 iShares (IWM) and the Finance SPDR (XLF) showing upside leadership for a change. IWM gained 3.21% for the week and led the major index ETFs higher. XLF gained 4.60% and was the second strongest...
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Something Good from the Good Old Days
by Carl Swenlin,
President and Founder, DecisionPoint.com
Back in the early-1980s I began my studies of the stock market, and my initial focus was on on-balance volume (OBV). Every evening I would get the evening paper and extract price and volume data on a small group of stocks, and then record those data on eight-column ledger paper....
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Which Sectors To Hold And Which Sectors To Fold Part II
by Martin Pring,
President, Pring Research
Earlier in the week I reviewed several US market sectors from the point of view of their potential strength or weakness. In this article I’ll cover the rest and then some. If you know what I mean by the term “Nirvana Template” you can skip the next paragraph and...
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As Easy As 1, 2, 3...or 4?
by Grayson Roze,
Chief Strategist, StockCharts.com
What does it take to succeed as an investor? That’s a broad question but nonetheless a supremely important one. Let’s stop, think about this for a minute and see if we can boil it down to a few core elements. First off, it takes genuine curiosity. It requires...
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Wyckoff Buy Strategies
by Bruce Fraser,
Industry-leading "Wyckoffian"
When initiating a campaign our mission is to buy when the stock is ready to emerge into a major uptrend. Uptrends begin when periods of Accumulation are complete and the majority of the available supply of shares has been absorbed. This is the juncture when stock is held by strong...
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Dow Breakout - Sectors Near 52-week Highs - A Normal Retracement for Crude
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Dow Breaks out of Massive Triangle // Sectors Close to 52-week Highs // Sector High-Low Leaders // XLK is the Clear Leader // Finance Perks Up with Flag Breakout // Healthcare Challenges Channel // Silver Hits Resistance // Dollar Firms at Support // Oil: A Bounce within a Downtrend ////
Dow Breaks out of Massive Triangle
The chart below...
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Top Three Reasons Why We're Not Breaking Out
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Thursday, April 14, 2016
Energy (XLE) and financials (XLF) led the market action on Thursday, although our major indices were bifurcated with slight gains in the Dow Jones and S&P 500 and minor losses on the more aggressive NASDAQ and Russell 2000.
Crude oil ($WTIC)...
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S&P 100 Short-Term PMO BUY Signal - Too Late or Just in Time?
by Erin Swenlin,
Vice President, DecisionPoint.com
The Price Momentum Oscillator (PMO) is an excellent gauge of internal strength and of course, as the name implies, momentum. So a new PMO BUY signal should excite and motivate, right? Not quite. Looking at the daily chart and even better, the monthly chart will give you true long-term perspective....
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Banks Ignore Earnings Shortfall, Challenge Price Resistance
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
The Dow Jones U.S. Banks Index ($DJUSBK) soared on Wednesday after JP Morgan Chase (JPM) delivered better than expected quarterly earnings results. The strength in JPM sent the DJUSBK to the doorstep of a significant price breakout above 300. However, Bank of America (BAC), PNC Bank (PNC) and Wells...
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U.S. Equities Surge On Increasing Volume
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
Market Recap for Wednesday, April 13, 2016
Wednesday was arguably the best trading day of 2016 for U.S. equities. Volume increased to nearly 2 billion shares on the NASDAQ and the four offensive sectors - financials, industrials, consumer discretionary and technology - led the rally with gains of 2....
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All Time High Nears - Playing Pullbacks and Oversold Conditions - Offensive Sectors Take the Lead
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
An All Time High within Reach // When Support is Greater than Resistance // Corrections within the Uptrend // Offensive Sectors Lead // Bullish Resolutions Define Market Environment ////
An All Time High within Reach
I am operating under the thesis that there is more bullish evidence out there than bearish evidence. In other words,...
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Which Sectors To Hold And Which Ones To Fold?
by Martin Pring,
President, Pring Research
In my Tuesday webinar, I opined that the US equity market is pretty close to a make or break point. While several indicators were still bearish it would not take much in the way of upside action to turn them positive. Of course, they never make it easy, and right...
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SILVER AND STEEL STOCKS CONTINUE TO SURGE -- STEEL LEADERS INCLUDE RELIANCE, STEEL DYNAMICS, AND NUCOR -- FREEPORT MCMORAN LEADS MATERIALS -- CHINESE STOCKS LEAD EMERGING MARKETS HIGHER -- JP MORGAN LEADS BANKS AND FINANCIALS HIGHER
by John Murphy,
Chief Technical Analyst, StockCharts.com
GLOBAL X SILVER MINERS ETF CONTINUES TO SOAR... My market message from March 7 showed major upturns in industrial and precious metal mining stocks. I made the point that silver stocks were doing better that gold miners. That was due to the fact that silver is both an industrial and...
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FTSE Leads Europe and Turns Positive Year-to-date
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Today's stock market rally started in Asia, extended into Europe and carried through to the US this morning. The major European indices were sharply higher with the London FTSE ($FTSE) leading the charge. On the price chart, the FSTE surged to a trend line extending down from May...
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