The Market Summary (ETF mode) provides a quick overview of performance for groups of ETFs. These include broad market, sector, industry group, international, bond, commodity and currency ETFs. Within the industry group ETFs, the Networking iShares (IGN) is leading with a 1+ percent gain in early trading on Tuesday. Click... READ MORE
RISING DOLLAR BENEFITS US STOCKS... The direction of the U.S. dollar has an important impact on global money flows. For one thing, the direction of the dollar impacts the direction of commodity prices, and countries tied to natural resources (more on that later). For another, dollar direction helps determine... READ MORE
Stocks edged lower on Monday with the Russell 2000 ETF (IWM) leading the way (-.70%). Losses were relatively small as selling pressure was contained. Seven of nine sectors were down with the Energy SPDR (XLE) leading the way lower (-.94%). The Basic Materials SPDR (XLB) and the Utilities... READ MORE
ADSK Hits Resistance at Retracement Zone. AMKR Corrects with Small Wedge. Plus FSLR, PBI, R, WTW This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for... READ MORE
StockCharts gives users the power to chart intraday P&F charts with trend lines. In this example, the 60-minute P&F Chart shows Alcoa (AA) breaking the Bullish Support Line in June (red 6) and moving to new lows. The July bounce carried the stock to the Bearish... READ MORE
TREASURY YIELDS CONSOLIDATE AHEAD OF BIG ECONOMIC WEEK... Link for today's video. It is a HUGE week on the economic front. The fireworks start on Wednesday with Chicago PMI and the FOMC policy statement. We then get the ISM Index, Jobless Claims and Auto-Truck sales on Thursday. The... READ MORE
The major index ETFs remain in short-term uptrends, but these uptrends stalled over the last two weeks. While a consolidation after an advance is generally considered a bullish continuation pattern, relative weakness in the Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) is a concern. The PerfChart below shows XLY... READ MORE
It was a rough two weeks for tech stocks as Broadcom (BRCM), AMD (AMD), Microsoft (MSFT) and Seagate (STX) led the way lower with double digit losses. Micrsoft, Google and Ebay weighed on the sector because they have relatively large market caps. Note that this market carpet is set in... READ MORE
Money management is the first step to becoming a consistently profitable investor. It’s all about working wisely and moving the odds in your favor. Succinctly put, it’s about: 1. knowing what you’ve got 2. knowing how to protect it 3. knowing how to grow it 4. writing... READ MORE
CONSUMER DISCRETIONARY AND TECHNOLOGY SECTORS TAKE A DIVERGENCE... Link for today's video. Investors shifted away from the consumer discretionary and technology sectors over the last two weeks. Even though this is a relatively short-term development, it comes with the market short-term overbought and ripe for a correction. Relative... READ MORE
Stocks may be overbought after big moves since late July, but we have yet to see signs of material selling pressure. In fact, we have yet to see even modest selling pressure. There are some pockets of weakness as homebuilders and big techs underperform the broader market. Nevertheless, the bulk... READ MORE
The major index ETFs ended the day higher, but gains were mixed with some pockets of weakness in the market. Small-caps led the way as the Russell 2000 ETF (IWM) gained almost 1%. The Dow Industrials SPDR (DIA), however, only gained .01% and the S&P 500 ETF (SPY)... READ MORE
The 10-year Treasury Yield ($TNX) surged from 1.6% to 2.6% and then consolidated for a few weeks. Yields could be starting another leg up as $TNX bounces off support this week. This is having a negative impact on homebuilders. Notice that the correlation between the 10-year Treasury Yield... READ MORE
Stocks were mostly lower on Wednesday with small-caps leading the way. The Russell 2000 ETF (IWM) lost around .83% and the S&P 500 ETF (SPY) lost around .37%. Techs were mixed with the Nasdaq 100 ETF (QQQ) adding .32% and the Nasdaq 100 Equal-Weight ETF (QQEW) losing .63%... READ MORE
ARO Stalls with Possible H&S Looming. ARUN Hits Key Retracement with Wedge Pattern. Plus CHRW, FAST, X This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need... READ MORE
The Nasdaq 100 ETF (QQQ) got a lift from Apple on Wednesday, but could not hold its early gains as sharp losses in Broadcom (BRCM) and Panera Bread (PNRA) weighed. The chart below shows QQQ gapping down last week and holding this gap the last four days. Notice that the... READ MORE
BOEING HITS NEW HIGH ON RECORD BACKLOG... Link for today's video. Boeing (BA) is leading the industrials sector higher with a fresh 52-week high as investors reacted positively to today's earnings report. Of note, the company reported a record $410 billion order backlog and some $40... READ MORE
Stocks meandered again on Tuesday with the Dow Industrials SPDR (DIA) closing slightly higher and the S&P 500 ETF (SPY) edging lower. Large techs were under pressure ahead of Apple earnings as QQQ fell around 3/4 of a percent. Apple moved higher after hours and may provide... READ MORE
The Home Construction iShares (ITB) broke out with a gap in mid July and this breakout is still holding. The ETF pulled back into the gap zone, but never completely filled the gap to negate the breakout. The indicator window shows RSI moving into the 50-60 zone and stalling. A... READ MORE
DOLLAR PULLS BACK AS EURO AND YEN BOUNCE... The U.S. Dollar continues the downside correction that started in early July. The green bars in Chart 1 show the U.S. Dollar Index (UUP) trading at the lowest level in a month. The blue line line shows the Euro climbing... READ MORE
Stocks meandered in quiet trading on Monday. The Dow Industrials SPDR (DIA) lost a fraction, while the S&P 500 ETF (SPY) gained a fraction. SPY and IWM remain in short-term uptrends. QQQ is showing the most vulnerability with a support break last week. This support break is holding... READ MORE
AAP Consolidates after Breakouts. AMX Stalls at Range Resistance. Plus NIHD, NVDA, VRSN This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves when it... READ MORE
The Retail SPDR (XRT) surged from late June to mid July and then embarked on a rather narrow consolidation. Notice that the ETF traded between 80.3 and 81.6 since July 11th. The overall trend is up, and this favors an upside breakout or continuation higher. Adding a little... READ MORE
HEALTHCARE ETFS LEAD MARKET WITH NEW HIGHS... Link for today's video. After a correction in June, the healthcare ETFs resumed their longer term uptrends and recorded fresh 52-week highs this month. Chart 1 shows the Healthcare SPDR (XLV) moving from the lower left of the chart to the... READ MORE
Stocks started the week in strong uptrends and short-term overbought conditions after big gains the prior three weeks. This did not deter buyers as the S&P 500 ETF (SPY) and the Russell 2000 ETF (IWM) broke consolidation resistance levels mid week. The Nasdaq 100 ETF (QQQ) was hit... READ MORE
Chart 1 shows Light Crude Oil trading at the highest level in fifteen months. My July 5 message showed crude oil trading higher in an attempt to close the gap between it and higher priced brent crude. As of today, crude is only a dollar away from its European counterpart.... READ MORE
Transportation stocks helped lead the market rally from October 2012 through March 2013, but since that time it's been a struggle on a relative basis. Check out this relative chart: Relative support resides near the 3.80 level in the chart above - a relative close beneath this... READ MORE
The NASDAQ Composite is a "forgotten index", as it led the tech bubble higher into the 2000 high. Now, it is the NASDAQ 100 that garners all the attention given it consists mainly of Apple (AAPL) and Google (GOOG). But that aside, the Composite is on a bullish... READ MORE
DecisionPoint.com has a unique market indicator that measures very short-term participation of stocks in a given index. The Participation Index (PI) is a dynamic, price-based measure of the percentage of stocks that are literally pushing the short-term price envelope -- not just advancing or declining, but actually meeting or... READ MORE
The Russell 2000 ($RUT) is leading the market higher with a breakout on July 8th and a series of 52-week highs the last two weeks. This key small-cap index was one of the first of the major indices to break above its May high. Even though the index is looking... READ MORE
Hello Fellow ChartWatchers! In case you haven't noticed, the Financial sector has been dominating the market for over a year now with the Consumer Cyclicals not far behind. How do I know? I used our S&P Sector Performance chart. Here's how you can do... READ MORE
The Consumer Discretionary SPDR (XLY) and the Finance SPDR (XLF) were the first two sectors to reach 52-week highs this month. With big moves over the last few days, the Healthcare SPDR (XLV) and the Industrials SPDR (XLI) join the club. Chart-wise, new highs make these four sectors among the... READ MORE
A BEARISH FAILURE SWING COULD BE FORMING IN THE S&P 500 ... Link for today's video. Chart 1 shows weekly bars for the S&P 500 with RSI in the indicator window. First, note that the overall trend is clearly up with a series of rising... READ MORE
With big moves over the last three weeks, the indicator summary improved since its last tally (21-June). The AD Volume Lines hit new highs, the Nasdaq AD Line hit a new high and Net New Highs surged. The finance and consumer discretionary sectors are leading the nine sectors. Even though... READ MORE
Big tech misses are weighing on the market as stock futures trade modestly lower after hours. Both Google and Microsoft missed on their revenue estimates. Even though the short-term and long-term trends for the market are up, stocks are overbought after big moves the last 3-4 weeks and these misses... READ MORE
CRUDE OIL REACHES 15-MONTH HIGH... Chart 1 shows Light Crude Oil trading at the highest level in fifteen months. My July 5 message showed crude oil trading higher in an attempt to close the gap between it and higher priced brent crude. As of today, crude is only a dollar... READ MORE
The Finance SPDR (XLF) surged to a fresh 52-week high with leadership from Morgan Stanley (MS), Bank of America (BAC) and JP Morgan (JPM). The CandleGlance chart below shows these three hitting 52-week highs. It is hard to argue with upside leadership from the second biggest sector in the S&... READ MORE
Earnings season is turning rather mixed with financials showing strong results and techs more mixed. Morgan Stanley is the latest big financial player to report strong results. Intel, on the other hand, reported weak results with its fourth straight quarterly decline in revenues. Google and Microsoft on are on deck... READ MORE
AEO Breaks Down and Shows Relative Weakness. IVZ Forms Pennant after Support Break. Plus BRCM, LULU and MON. Download MP4 This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all... READ MORE
Patternson Energy (PTEN) has been lagging the market and the energy sector the last few months, but shows signs of life with a high volume surge and pennant. A pennant breakout would signal a continuation higher and target a move to the next resistance zone. Note that this is an... READ MORE