Stocks continued their march higher as the S&P 500 ETF (SPY) challenged its mid April high and the Nasdaq 100 ETF (QQQ) hit a new high for 2013. The Russell 2000 ETF (IWM), however, remains a laggard because it formed a lower high in mid April and fell... READ MORE
BBY Consolidates within Uptrend. FNSR Bounces Off Support with Good Volume. Plus KSS, LOW, XCO 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... READ MORE
QQQ CHALLENGES SEPTEMBER HIGH... Link for todays video. April volatility continued as the Nasdaq 100 ETF (QQQ) surged back above 70 for the second time this month. With this gain, QQQ is again flirting with a 52-week high and showing upside leadership. Chart 1 shows the ETF with two patterns... READ MORE
Apple (AAPL) remains in a downtrend overall, but signs of firmness emerged as the stock forged an inside week. This occurs when the week's high-low range is inside the prior week's high-low range. Also notice that the stock advanced on the highest upside volume since April... READ MORE
After a set back two weeks ago, stocks rebounded last week with the Finance SPDR (XLF) and Consumer Discretionary SPDR (XLY) leading the charge. Both XLF and XLY recorded 52-week highs last week to extend their uptrends and establish support based on their April lows. Last week's rebound... READ MORE
Facebook (FB) has underperformed the market this year, but momentum is improving as MACD moved above its signal line this week. Notice how the stock held support in the 25 area and gapped up on Friday. This gap is bullish as long as it holds. A move below 25.9... READ MORE
TREASURY BOND ETFS HOLD BREAKOUTS AFTER GDP REPORT ... Link for todays video. Either the relationship between stocks and Treasuries is changing or something needs to give. Stocks and Treasuries have shown a rather strong negative correlation since late 2010. This negative correlation is being challenged in April. The S&... READ MORE
It’s spring and the baseball season is upon the Kingdom. The Mariners are playing at Safeco Field again, and I happen to be watching the first season of HBO’s medieval fantasy series, GAME OF THRONES. Is it just me or are both of these pastimes bursting at the... READ MORE
With a big rebound this week, the indicator summary remains firmly in the bullish camp. The NYSE AD Line hit a new high. The NYSE and Nasdaq AD Volume Lines also hit new highs. The Consumer Discretionary SPDR (XLY) and the Finance SPDR (XLF) led the offensive sectors this week... READ MORE
Its been quite a rally over the last five days with the S&P 500 getting close to another all time high. Stocks, however, sold off in the final 90 minutes of trading and the major index ETFs closed off their highs for the day. Nevertheless, the major index... READ MORE
TECHNOLOGY SPDR HAS BEEN 2013 LAGGARD... My Tuesday message listed technology as one of this year's weakest market sectors. Let's take a look beneath the surface to see what's weighing on the sector, and where some strength lies. Chart 1 shows the Technology Sector... READ MORE
The Nasdaq 100 ($NDX) swings have been quite wild this month, but the 15 minute P&F chart captured these pretty well. In particular, the Triple Top Breakout and Triple Bottom Breakdown identified the early April upswing, the mid April downswing and the upswing over the past week. There... READ MORE
************************************************************************** ************************************************************************** ************************************************************************** ************************************************************************** ************************************************************************** Key Reports and Events (all times Eastern): Thu - Apr 25 - 08:30 - Jobless Claims (AMZN, ALT... READ MORE
AMD Surges off Key Retracement. CAKE Reverses on High Volume. Plus APOL, CHS, CTXS, HSP, TEVA 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
APRIL LOWS NOW MARK KEY SUPPORTS FOR SPY AND DIA... Link for todays video. With a big bounce over the last 3-4 days, the S&P 500 ETF (SPY) and the Dow SPDR (DIA) affirmed support levels that extend back to mid March. Chart 1 shows SPY plunging to... READ MORE
After a sharp decline last week, stocks recovered with bounce the last three days. The Sector PerfChart shows the Consumer Discretionary SPDR (XLY), Finance SPDR (XLF) and Basic Materials SPDR (XLB) leading this bounce. Also note that the Consumer Staples SPDR (XLP) and Healthcare SPDR (XLV) are also outperforming because... READ MORE
After a decline last week, the bulls reasserted themselves this week and pushed the major index ETFs up sharply the last three days. IWM and QQQ are up over 3% since Friday. SPY is up 2.36% in three days. The Consumer Discretionary SPDR (XLY) and the Finance SPDR (XLF)... READ MORE
The Silver:Gold Ratio broke down in February and exceeded its summer low in April with a sharp decline. The 52-week low shows that silver is much weaker than gold. This fits with weakness in copper because silver is more of an industrial metal than gold. Click this image for... READ MORE
HALF OF NYSE STOCKS ARE BELOW 50-DAY AVERAGE... The stock market continues to display remarkable resilience in the face of short-term warning signals of a possible downside correction. Although a number of short-term technical indicators have weakened, the market has kept rising. The resulting confusion may be the result of... READ MORE
ADM Forms Continuation Pattern after Breakdown. AMX Bounces off Support. Plus EA, MAR, SPWR, UAL 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... READ MORE
Stocks opened weak, but quickly found their footing as the major index ETFs worked their way higher the rest of the day. The Nasdaq 100 ETF (QQQ) gained 1% with strength in Microsoft, Intel, Apple and Amazon. Gains in the broad market ETFs were smaller with the S&P... READ MORE
FINANCE AND HOUSING WEIGH ON STOCK MARKET... Link for todays video. The stock market was trading flat at midday on Monday with the Finance SPDR (XLF) and the Home Construction iShares (ITB) sporting small declines and showing some relative weakness. Chart 1 shows XLF breaking the November trend line last... READ MORE
It is a big week for earnings so here are CandleGlance charts for six stocks reporting today. Of interest, ACE is hitting support from broken resistance, CAT is nearing the November low, HAL remains in a falling channel and Texas Instruments is testing support. Click this image for a live... READ MORE
It is a HUGE week for earnings, which means we could see extra volatility the next several days. Texas Instruments reports on Monday, Apple reports Tuesday after the close, Qualcom is on deck Wednesday and Amazon reports on Thursday. I am not going to mention Friday because it seems too... READ MORE
Of all the commodity markets, copper is viewed as the most closely aligned with trends in the global economy. Copper and other commodities have been lagging behind global stocks over the past year (largely owing to a stronger dollar and weakness in Chinese stocks). This week's plunge in... READ MORE
At its highest level last week (Thursday afternoon), the VIX was up 50% from its prior Friday close. That's a HUGE spike in volatility. Volatility, as measured by the CBOE Volatility Index (VIX), provides us a gauge of fear in the stock market. The VIX measures the market&... READ MORE
Hello Fellow ChartWatchers! I'm very happy to announce that we've just added a new overlay to our system - the Chandelier Exit. This overlay is a favorite of our good friend Dr. Alexander Elder. He discusses it extensively in his books. It is a trailing stop... READ MORE
In the last few weeks gold has experienced a major breakdown, and, of course, there are many opinions as to what will happen next. Let's take a broad look at the technicals, so that we have some context for making decisions. The daily chart shows the critical break... READ MORE
Our attention has turned to the crude oil market, where a rather large "head & shoulders" top pattern is in development. The focus is upon how prices challenge and hold the 300-week moving average, and if not...whether neckline support is violated. A breakdown of these levels would... READ MORE
The 7-10 YR Treasury Bond ETF (IEF) is challenging resistance and a breakout would have negative consequences for stocks. Stocks and Treasury bonds are negatively correlated because they march to the beat of different drummers. Treasury bonds move higher because of deflationary pressures, signs of economic weakness or both. We... READ MORE
With a sharp decline this month, the Copper ETF (JJC) entered a support zone that extends back to the 2010 lows. The ETF also become oversold as RSI dipped below 30 for the first time since September 2011. The knife, however, is still falling as long as RSI remains below... READ MORE
SPY FIRMS AT SUPPORT AS DI TRIGGERS... Link for todays video. It was a rough week for stocks as the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) declined to support from their mid March lows. Chart 1 shows SPY surging off the mid March lows... READ MORE
You watch your equity position tear away on a 200% parabolic run and then you allow your greed and fantasies to kick in, hoping that it will go up 300% just as it turns down and erases half of your gain. That’s how you make 100% return on what... READ MORE
There were a few downgrades this week as stocks took a big hit for the second time this month. The AD Lines were downgraded to neutral because the Nasdaq AD Line broke support and the NYSE AD Line has yet to break support. The dominant sectors were downgraded because three... READ MORE
Stocks extended their losses on Thursday with the Nasdaq 100 ETF (QQQ) leading the way lower. Once again, Apple declined and weighed heavily on QQQ. Apple is down over 8% this week and earnings are scheduled next week. As opposed to the S&P 500, which was priced to... READ MORE
COPPER PLUNGES TO 18-MONTH LOW-- FCX TUMBLES WITH IT... Of all the commodity markets, copper is viewed as the most closely aligned with trends in the global economy. Copper and other commodities have been lagging behind global stocks over the past year (largely owing to a stronger dollar and weakness... READ MORE
The Hindenburg Omen triggered on Monday as the percentage of new lows and new highs on the NYSE moved above 2.8%. There is some debate on this threshold because I have seen 2.2% and 2.4% used by other analysts. Using these lower thresholds, the omen triggered again... READ MORE
Stocks started the day weak and ended the day with sizable losses. The Russell 2000 ETF (-1.74%) and Nasdaq 100 ETF (-1.95%) led the way lower. Apple weighed on QQQ as the stock broke below its March lows and recorded a 52-week low ahead of earnings next week.... READ MORE
ARIA Bucks the Selling with Good Volume. BIDU Surges and Consolidates. Plus CBS, DHI, EA, HPQ, MON 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... READ MORE
Stocks were hit with across the board selling on Wednesday. All sectors were down, but there were a few stocks that bucked the selling pressure. As the Market Carpet shows, there are at least ten advancing stocks, which are represented by the green or greenish squares. A list can be... READ MORE