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FINANCE SPDR STARTS SHOWING RELATIVE WEAKNESS -- JP MORGAN FORMS BEARISH REVERSAL PATTERN -- SEMICONDUCTOR SPDR TESTS KEY SUPPORT LEVEL WITH SHARP DECLINE -- BROADCOM, TEXAS INSTRUMENTS AND ANALOG DEVICES LEAD SEMIS LOWER
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCE SPDR STARTS SHOWING RELATIVE WEAKNESS... Link for todays video. The three defensive sectors have been leading the market in 2013 and over the past four weeks. This means the Healthcare SPDR (XLV), Consumer Staples SPDR (XLP) and Utilities SPDR (XLU) are up more than the offensive sectors and the...
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SPY Forms Bearish Wedge with 50% Retracement
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Let the volatility begin! Stocks plunged on Monday, rebounded on Tuesday and are trading lower before the open on Wednesday. Yahoo! traded sharply lower after hours because it missed estimates on ad revenues. Intel was mixed after reporting weak first quarter earnings. The company reduced capex estimates, which means the...
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A LOT OF TECHNICAL AND INTERMARKET FACTORS WARNED OF GOLD BREAKDOWN -- LONG TERM TECHNICAL INDICATORS HAVE BEEN WEAK -- GOLD MINERS HAD ALREADY BROKEN DOWN -- FALLING CHINESE STOCKS HAVE ALSO HURT COMMODITIES -- STOCKS HAVE SNAP BACK DAY BUT ON LOW VOLUME
by John Murphy,
Chief Technical Analyst, StockCharts.com
LONG TERM TECHNICAL INDICATORS WEAKEN... The financial media on TV spent all day yesterday trying to come up with a reason to explain gold's dramatic price plunge. I admit that I don't know why yesterday's drop was so big, or why it happened yesterday....
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Coca-Cola leads Consumer Staples SPDR with 5% Surge
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
After falling 2.5% on Monday, Coca-Cola (KO) recovered with a 5+ percent surge to lead the Consumer Staples SPDR (XLP) higher on Tuesday. KO Has been one of the top performing stocks in 2013 and XLP has been one of the top performing sectors.
Click this image for a...
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IWM Tests Key Support - UUP Firms at Support
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks were hit hard on Monday with small-caps and mid-caps leading the way lower. The Russell 2000 ETF (IWM) fell 3.77% and the S&P MidCap 400 SPDR (MDY) declined 3.13%. All sectors were down with the Energy SPDR (XLE) loosing 4.08% and the Basic Materials...
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Charts of Interest: AAPL, CRM, CTXS, DRI, GOOG, THOR, STMP, ZNGA
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
AAPL Tests March Low with Low Volume.
GOOG Hits Trend Line Support.
Plus CRM, CTXS, DRI, THOR, STMP, ZNGA
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...
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DIA AND SPY LARGELY IGNORE THE NEGATIVES (SO FAR) -- RELATIVE WEAKNESS IN RSP FORESHADOWED LAST TWO CORRECTIONS -- OIL BREAKS KEY TREND LINE AND TESTS MARCH LOW -- XLE AND XES LEAD MARKET LOWER -- CHARTING THE DIPS IN NON-FARM PAYROLLS AND RETAIL SALES
by John Murphy,
Chief Technical Analyst, StockCharts.com
DIA AND SPY LARGELY IGNORE THE NEGATIVES (SO FAR)... Link for todays video. The S&P 500 ETF (SPY) and Dow Industrials SPDR (DIA) are within spitting distance of their highs, but the list of stock market negatives simply grows. Weakness in oil can be added to this list...
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Consumer Discretionary Sector Joins the Defense
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Friday was a rather strange day for the sector SPDRs. Notice that the consumer discretionary, consumer staples, healthcare and utilities SPDRs moved higher. It is unusual to see the consumer discretionary sector rise along with the three defensive sectors, especially when the S&P 500 is down for the...
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Treasuries Surge, Commodities Fall and Stocks Hold Up
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks came under early selling pressure on Friday morning after an unexpected decline in March retail sales. Selling pressure, however, lasted less than two hours as the major index ETFs found their footing around 11AM and edged higher the rest of the day. Despite this post-open bounce, SPY, MDY, IWM...
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Nvidia Bucks the Market with a Triangle Breakout
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks were down in early trading on Friday, but Nvidia (NVDA) got off to a strong start with a surge above 13 and a three month high. NVDA formed a triangle from January to April and broke the upper trend line with this advance. MACD also turned up and crossed...
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MID-CAPS AND SMALL-CAPS LAG, BUT MAINTAIN UPTRENDS -- TREASURIES SURGE AFTER RETAIL SALES REPORT -- MCCLELLAN SUMMATION INDICES BREAK SUPPORT -- NASDAQ AD LINE FORMS BEARISH DIVERGENCE -- GOLD TESTS KEY SUPPORT ZONE WITH SHARP DECLINE
by John Murphy,
Chief Technical Analyst, StockCharts.com
MID-CAPS AND SMALL-CAPS LAG, BUT MAINTAIN UPTRENDS... Link for todays video. The S&P 500 ETF (SPY) and Dow Industrials SPDR (DIA) both hit fresh 52-week highs this week. Even the lowly Nasdaq 100 ETF (QQQ) managed a big gain and recorded a new high for 2013. The S&...
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The Albert Einstein Approach to Stock Market Investing
by Gatis Roze,
Author, "Tensile Trading"
Albert Einstein famously said, “If I had one hour to save the world, I would spend 55 minutes defining the problem and five minutes implementing the solution.” If you were in a life threatening situation and had only one hour before it proved fatal, what would you do? Einstein said...
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Small-Caps Start to Lag, but Evidence Remains Bullish Overall
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The indicator summary remains firmly bullish with eight of ten indicators favoring the bulls. The two bearish indicators reflect relative weakness in the Nasdaq and small-caps, which indicates that the tolerance for risk is fading somewhat. In addition, note that the Nasdaq AD Line is underperforming the NYSE AD Line....
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XLV Leads Market as SPY Hits New High
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks extended their rally on Thursday with the Consumer Discretionary SPDR (XLY) and the Healthcare SPDR (XLV) leading the way. Led by a big move in retail, XLY advanced .84% and hit a 52-week high. Led by big pharma, XLV advanced .96% and also hit a 52-week high. Healthcare is...
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Palladium ETF Bounces off Support Zone
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The Palladium ETF (PALL) fell along with gold last week, but managed to firm near the early March low and bounce off support today. Notice that broken resistance turned into support in the 70 area. The indicator window shows PALL relative to the Gold SPDR (GLD). PALL outperformed from November...
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S&P 500 CLOSES AT RECORD HIGH -- LAST WEEK'S LOW MARKS FIRST SUPPORT POINT -- POWERSHARES QQQ FINALLY SHOWS UPSIDE LEADERSHIP AND NEARS UPSIDE BREAKOUT -- EFA ISHARES REACH FIVE-YEAR HIGH -- JAPAN LEADS EAFE UPTURN -- EUROZONE BOUNCES OFF SUPPORT
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 REACHES NEW INTRA-DAY RECORD... Yesterday's S&P 500 close pushed it through its October 2007 intra-day high at 1576. That means we can finally say that the S&P 500 is breaking out of its 13-year trading range that started in 2000...
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SPY Surges, TLT Falls and GLD Fails at First Resistance
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks took their cue from Treasuries and surged with gains across the board. The 20+ Year T-Bond ETF (TLT) fell sharply and the 10-year Treasury Yield ($TNX) surged as the Fed minutes revealed some dissent on the future of quantitative easing. Even though this is old news based on minutes...
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Charts: AEO, BBRY, CQB, DGX, EMC, FINL, GM, TEVA
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
AEO Nears Broken Support with Rising Wedge.
Traders Hold their Breadth on BBRY.
Plus CQB, DGX, EMC, FINL, GM, 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...
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Tech Stocks See the Most Green on the Market Carpet
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The Sector Market carpet is full of green on Wednesday with the average tech stock up 1.8%. JDS Uniphase, Micron and Juniper are leading the way. There are, however, some big losers today with First Solar, Tenet and Fastenal down over 3%. These can be seen with the red...
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DOW AND S&P 500 EXTEND UPTRENDS WITH NEW HIGHS -- XLF LEADS WITH FLAG BREAKOUT - XLK CLEARS MARCH HIGHS -- INTERNET ETF SURGES TO CHANNEL RESISTANCE -- NETWORKING ISHARES BOUNCES TO BROKEN SUPPORT -- SEMICONDUCTOR ETF NEGATES SUPPORT BREAK
by John Murphy,
Chief Technical Analyst, StockCharts.com
DOW AND S&P 500 HIT NEW HIGHS... Link for todays video. bThe Dow Industrials and S&P 500 extended their uptrends and hit new highs on Wednesday. Fed minutes showed signs of dissent on quantitative easing and this put pressure on Treasuries and gold. This is a...
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IWM Rebounds to Broken Support - UUP Tests March Lows
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks limped higher as the Euro, gold and oil rebounded on Tuesday. A pullback in the Dollar also lifted silver and copper, both of which have been in the doldrums of late. The Basic Materials SPDR (XLB) stole the show as the only sector to gain more than 1%. XLB...
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Intel Surges to Resistance on High Volume
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Intel gave a lift to the MarketVectors Semiconductor ETF (SMH) and Semiconductor SPDR (XSD) with a 3.13% advance on the highest volume since late February. Notice how the stock formed a higher low with the late February surge and then consolidated the last five weeks. A consolidation breakout would...
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SPX is Priced for Perfection as Third Quarter Earnings Start
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The major index ETFs followed through on the Friday afternoon rebound and closed modestly higher on Monday. The Russell 2000 ETF (IWM) led the way, but this small-cap ETF was also hit the hardest last week. Technically, the S&P 500 ETF (SPY) remains the strongest of the big...
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Charts of Interest: AAPL, AES, BHI, COF, FCX, GMED, POT
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
AAPL Tests Prior Low with Indecisive Candlesticks.
AES Bounces with High Volume.
Plus BHI, COF, FCX, GMED, POT
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...
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RETAIL SPDR CONSOLIDATES ABOVE RESISTANCE BREAK -- TECHNOLOGY SPDR PULLS THE POP, STOP AND DROP -- KEY BREADTH INDICATOR FOR NASDAQ 100 TURNS BEARISH, BUT REMAINS BULLISH FOR SPX -- SPOT LIGHT CRUDE REVERSES AT TRIANGLE RESISTANCE
by John Murphy,
Chief Technical Analyst, StockCharts.com
RETAIL SPDR CONSOLIDATES ABOVE RESISTANCE BREAK... Link for todays video. Fridays employment report threw the stock market a curve ball on Friday, but the market managed to recover after a weak open. Non-farm payroll is a fairly volatile number that is subject to revision. The market will get another tests...
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Silver Tests Long-term Support $SILVER
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
After falling sharply in April and September 2011, Spot Silver ($SILVER) moved into a trading range with resistance at 36 and support at 26. Silver has touched support at least three times and is poised to test this area again. This marks an important test because a break would signal...
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SPY Bounces off Support as TLT Becomes Overbought
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
Stocks were hit hard in early trading on Friday, but managed to firm during the day and even mount a recovery in the afternoon. The Nasdaq 100 ETF (QQQ) and S&P 500 ETF (SPY) still finished modestly lower. The S&P Midcap SPDR (MDY) surged and almost...
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Earnings Season Brings New Opportunities
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com
This is my favorite time of the quarter. Being a "technifundamentalist", I like finding companies that look solid both technically and fundamentally and concentrate my trading efforts there. For me, it all begins with volume. If a company reports earnings and receives a ho-hum response in terms of...
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Upgrades Galore: Stocks & Commodities Articles, Economic Data, UDI for Extra Members
Hello Fellow ChartWatchers!
StockCharts continues to grow and expand, providing more value for its users (hey! that's you!) for free. Here are three great improvements we rolled out last week:
1.) Stocks & Commodities Articles for StockCharts Members
Our "Search" feature now automatically includes results from...
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Treasury Bond ETF Outperforms SPY and USO
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The PerfChart below shows five ETFs representing the inter-market picture. Even though the S&P 500 ETF (SPY) and the US Oil Fund (USO) are up over the past month. notice that the 20+ Year T-Bond ETF (TLT) is up a lot more. Treasuries are showing relative strength and...
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Weak Commodities Hurt Producers
by John Murphy,
Chief Technical Analyst, StockCharts.com
This is the same headline used in my March 21 message which showed how falling commodities were hurting stocks of countries that produced commodities. A rising dollar causes foreign stocks to underperform U.S. stocks, which has been the case since the dollar bottomed during 2008. A rising dollar hurts...
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Made in Manhattan
by Richard Rhodes,
Founder and President, Rhodes Capital Management and Rhodes Trading Group
April has not thus far been very kind to the economic bulls. The various world and US PMI reports have been "less-than-anticipated", while employment is showing weaker-than-expected figures via the weekly jobless claims, ADP private payroll and non-farm payrolls. This economic deceleration is simply part and parcel of...
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DIA Tests Support as Directional Indicators Converge
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The Directional Movement Indicators have equalized as trading turns flat for the Dow SPDR (DIA), but the overall trend remains up as the ETF tests its first support zone. Let's look at support first. DIA hit 144 on March 11th and then traded flat the last few weeks...
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Gold Mining Stocks Still Negative
by Carl Swenlin,
President and Founder, DecisionPoint.com
While gold is still maintaining a long-term consolidation, gold mining stocks have signalled still lower prices to come.
A quick look at the weekly gold chart shows that the metal is holding above a line of support that goes back over a year.
In contrast, the XAU (gold mining stocks)...
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COMMODITY COUNTRIES HIT HARD BY FALLING PRICES -- PLUNGING YEN MAKES JAPAN WORLD'S STRONGEST MARKET -- GOLD TESTS SUPPORT BUT IS NO LONGER FAVORED OVER STOCKS -- OVERBOUGHT S&P 500 BACKS OFF FROM 2007 HIGH AND LOOKS TO BE ENTERING CORRECTION
by John Murphy,
Chief Technical Analyst, StockCharts.com
WEAK COMMODITIES HURT PRODUCERS... This is the same headline used in my March 21 message which showed how falling commodities were hurting stocks of countries that produced commodities. A rising dollar causes foreign stocks to underperform U.S. stocks, which has been the case since the dollar bottomed during 2008....
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Investing with a Cleaner Windshield: The Buyer's Checklist
by Gatis Roze,
Author, "Tensile Trading"
I have found that if you offer the market your sincere attention – presented on a platter of organized checklists – it will reciprocate by talking to you about its true intentions. Warren Buffett would claim that this offers you a cleaner windshield, albeit one never as clean as the rearview mirror....
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WEAK JOBS REPORT PUSHES STOCKS DEEPER INTO CORRECTION -- FOREIGN STOCKS DROP AS WELL -- BOND PRICES JUMP AS YIELD DROPS
by John Murphy,
Chief Technical Analyst, StockCharts.com
NASDAQ BREAKS MARCH SUPPORT -- S&P IS CLOSE TO DOING THE SAME ... A very weak jobs report this morning has contributed to a sharply lower open in global stocks. Chart 1 shows the Nasdaq Composite falling below its March low near 3200, and its 50-day average. That raises...
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Materials and Energy SPDRs are the First Sectors to Turn Negative
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
With a hard hit this week, the Energy SPDR (XLE) and the Materials SPDR (XLB) are now down month-to-date. In contrast, the S&P 500 and other seven sectors are still up since March 1st. The technology, industrials and finance sectors are, however, underperforming because they are up less...
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MARKET SUFFERS BAD COMBINATION OF FALLING PRICES AND RISING VOLUME -- SMALL CAPS AND TRANSPORTS LEAD DECLINE -- CANADIAN STOCKS TUMBLE -- BOND YIELD BREAKS SUPPORT -- NASDAQ AND S&P 500 ARE NEARING TEST OF FEBRUARY LOWS
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL CAPS AND TRANSPORTS LEAD MARKET LOWER... Wednesday's stock drop was the weakest combination of falling prices and rising volume this year. Also disturbing are the number of former group leaders that have suffered short-term breakdowns. Chart 1 shows the Dow Transports falling to the lowest level in...
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Utilities Show Least Red on Market Carpet
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
The market carpet was mostly red on Wednesday with pockets of deep red in the finance and energy sectors. The utilities sector held up the best as the average stock fell 30 cents. There were some isolated pockets of strength in the consumer discretionary as ANF and KSS bucked the...
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