A day after failing at resistance just a day ago, the Regional Bank SPDR (KRE) is right back challenging the late summer highs. KRE dropped below 21 with a sharp decline on Monday, but surged back above 21.50 with an even bigger move on Tuesday. Volume also expanded and... READ MORE
S&P 500 HAS REACHED TOP OF WAVE FOUR ... Two Thursdays ago (October 6) I suggested that the S&P 500 had completed a five-wave decline which should lead to a fourth quarter rebound. I also suggested that the rebound would reach the top of wave 4 which... READ MORE
Momentum is changing as RSI and StochRSI moved into bear mode for IWM, QQQ and SPY. As noted last week, StochRSI is one of the most sensitive momentum oscillators, which means it is prone to false signals (whipsaws). StochRSI is the Stochastic Oscillator formula applied to RSI values. This makes... READ MORE
Careful out there. It is earnings seaon. CHRW Traces out ABC Zigzag Advance. ESRX Surges and Forms Bull Flag. FL Consolidates after Oversold Bounce. Plus ANF, CHS, PLCE, SKS This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell... READ MORE
Caterpillar came across the Predefined Scans page with a Bearish Engulfing pattern. This page is updated throughout the day so chartists can find patterns as they happen. CAT formed a Bearish Engulfing with an open above 84 and close below 82. Notice that this intraday reversal formed at a key... READ MORE
DOW INDUSTRIALS AND TRANSPORTS TURN BACK AT RESISTANCE... Link for todays video. Stocks moved lower on Monday with a broad decline hitting all sectors. Financial media blamed the decline on comments from German Chancellor Merkel, who poured cold water on the prospects for a comprehensive solution to European debt issues.... READ MORE
The markets remain in RISK-ON mode. This is bullish for the Euro, stocks, commodities and, perhaps, gold. This is bearish for the Dollar and Treasuries. Even though the short-term trends are getting extended, we have yet to see reversals that would suggest an end to this risk-on environment. Earnings season... READ MORE
Hello Fellow ChartWatchers! "Distance not only gives nostalgia, but perspective, and maybe objectivity." - Robert Mogan Perspective. Do you have it? Have you lost it? How do you gain it back? One of the best ways to gain perspective on the stock market is to use long-term market... READ MORE
Last Thursday I showed some traditional charts that suggested stocks and commodities were due for a rally. In the case of stocks, a lot of global stock and U.S. stock indexes had reached important support at their mid-2010 lows and were in oversold territory. In addition, I suggested that... READ MORE
The market has spoken. If you're looking for nice earnings surprises for the third quarter, or perhaps raised guidance on a forward-looking basis, look no further than the technology and consumer discretionary sectors. This past week, we saw a very positive earnings report from Google (GOOG), while commodity... READ MORE
DEALS, DEALS, DEALS - Here is a list of all the ways you can save money at StockCharts. Right now. No waiting. No hassel. Real money. Just do these things and start saving. * Non-Members can subscribe to any of our charting services and get a 10-day free trial to test... READ MORE
One of the ways we have of measuring sentiment is by tracking cash flow into and out of Rydex mutual funds through the use of our Rydex Cash Flow Ratio. The Ratio is calculated by dividing cumulative cash flow (CCFL) of Bear funds plus Money Market funds by the CCFL... READ MORE
The US Dollar Index ($USD) was hit hard this week with a 2.2% decline. Weakness in the Dollar buoyed oil and stocks, which have been negatively correlated with the greenback. Dollar weakness and Euro strength is also associated with the risk-on trade. Despite this week's decline, the... READ MORE
SPY CHALLENGES RESISTANCE AGAIN... Link for todays video. Chart 1 shows the S&P 500 ETF (SPY) moving back above 121 in early trading on Friday and once again challenging resistance. Resistance here stems from broken support and the prior peaks in late August and mid September. So far,... READ MORE
As of Thursday's close, the Technology ETF (XLK), Consumer Discretionary SPDR (XLY) and Utilities SPDR (XLU) were the only sectors SPDRs trading above their September 15th closing high. The S&P 500 was still just below, while the Finance SPDR (XLF) was well below (3.26%). This... READ MORE
Stocks reversed last Tuesday and surged the last nine days, but this has not been enough to push the indicator summary into positive territory. Another week or two of strength would likely lead to resistance breakouts in the major index ETFs and some key breadth statistics. For now though, the... READ MORE
Upside momentum is weakening in the stock market, but the short-term swing remains up and we have yet to see an actual breakdown. There is often a pecking order to a trend reversal, even a short-term trend reversal. The short-term trend has been up since the breakouts last Tuesday (October... READ MORE
JP Morgan kicked off earnings season for the finance sector with a failure at resistance. After a 10+ percent surge the prior seven days, the stock hit resistance in the 33-34 area and gapped down on Wednesday. The big trend is clearly down and a break above 34 is needed... READ MORE
Stocks started the day with a bang, kept their gains most of the day and then sold off in the afternoon. With the S&P 500 ETF (SPY) up some 12% in seven days, the market is pricing in some pretty good news or some better-than-expected earnings reports. With... READ MORE
Careful, it is earnings season.... CCL Forms Shooting Star at Resistance. MCD Tracing out Bearish Engulfing with Uptick in Volume. WINN Consolidates after Bounce. Plus CHKP, FNSR, GRMN, SBUX This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell... READ MORE
The Nasdaq 100 ETF (QQQ) surged all the way to its September high and formed a small black candlestick with a modest upper shadow on Wednesday. This shows that the ETF moved above 57 intraday, but failed to hold these gains and closed near the low for the day. The... READ MORE
1000 POINT SURGE PUTS DOW AT RESISTANCE ZONE... Link for todays video. The risk-on trade continued its run as stocks moved higher again on Wednesday. Traders move into riskier assets with the risk-on trade and shun riskier assets with the risk-off trade. Risk-on favors stocks, the Euro and commodities. Risk-off... READ MORE
Earnings season kicked off on Tuesday and stocks stalled in mixed trading. A mere six days ago, the S&P 500 ETF (SPY) was trading around 108, just before the big Tuesday turnaround on October 4th. The ETF was then down some 14% from its September high and around... READ MORE
With a big surge the last 5-6 days, the Dow Industrials SPDR (DIA) moved into the red cloud. This chart shows DIA breaking below the cloud in early August. This cloud now turns into a resistance zone that holds the key to the current downtrend. You can read more on... READ MORE
INTERMARKET TRENDS CONFIRM CHART SIGNALS... Last Thursday I showed some traditional charts that suggested stocks and commodities were due for a rally. In the case of stocks, a lot of global stock and U.S. stock indexes had reached important support at their mid-2010 lows and were in oversold territory.... READ MORE
Stocks opened strong, remained strong and closed strong on Columbus Day. Unsurprisingly, volume was very light. This move keeps the short-term uptrends alive and allows for an extension of the rising channels. On the S&P 500 ETF (SPY) chart, the Raff Regression Channel can now be drawn from... READ MORE
Careful, it is earnings season. ANF Surges to Resistance on Low Volume. EXPD Retraces 61.80% of Prior Decline. PX Surges into Resistance Zone. Plus LULU and MOLX. This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short... READ MORE
After at least four attempts, Exxon Mobil (XOM) finally broke above 75 and exceeded resistance. This level held from mid August until today. The breakout zone around 74-75 becomes first support. A below 74 would question the validity of this breakout. Click this image for a live chart... READ MORE
IWM VOLATILITY REMAINS HIGH AS RESISTANCE ZONE NEARS... Link for todays video. The Russell 2000 ETF (IWM) is up over 10% in the last five trading days. While this is certainly a strong move, it is still within the realm of the new normal in volatility. Chart 1 shows IWM... READ MORE
It is another week and we have yet another promise from EU leaders. Dexia Bank passed the European stress test a few months ago and went belly up last week. This weekend we saw another flurry of pledges and deadlines to fixed the European debt situation. According to Sarkozy and... READ MORE
After a sharp decline in September, the Gold SPDR (GLD) moved into a consolidation the last two weeks. Support resides at 155 and resistance 162.50. Traders should watch these levels for the next direction clue. Also watch the Dollar. Gold bounced this week as the Dollar declined, but a... READ MORE
DOW SPDR HEADS FOR BIG RESISTANCE TEST... Link for todays video. Point & Figure charts are good for defining key support and resistance levels. In addition, P&F charts at StockCharts.com come with automatic trendlines that can be used to define the trend. Chart 1 shows a 1/... READ MORE
Despite a big reversal on Tuesday and good gains Wednesday-Thursday, the Indicator Summary remains decidedly negative. These gains simply erased the losses from Monday and the gain for the week is still modest compared to recent volatility. More importantly, lower lows formed with the plunge on October 3rd (Monday) and... READ MORE
There is nothing to do now, but wait for the market's reaction to the employment report. The current swing for stocks remains up. Since early August, the S&P 500 ETF (SPY) has 11 swings that are at least 5 percent. The ETF started August with a... READ MORE
The Gold Miners ETF (GDX) is making waves with an oversold bounce off support the last two days. The ETF briefly broke below its June low on Tuesday, but recovered with the rest of the market and filled the gap with a strong close. Also notice that RSI moved below... READ MORE
FOREIGN ETFS TESTING 2010 LOWS ... What started off as a potentially bearish week may be turning into something more positive. A large part of the reason for that is the ability of so many global markets to find support at their mid-2010 lows. Given the steepness of the recent declines... READ MORE
The current upswing continued as stocks added to Tuesday's gains. All major index ETFs were up over 1%, but the Russell 2000 ETF (IWM) lagged with the smallest gain. Unsurprisingly, the Nasdaq 100 ETF (QQQ) led the way higher with a 2.57% gain. Big techs continue to... READ MORE
FLIR Forms Bullish Engulfing at Key Retracement. LRCX Breaks Triangle Resistance. PFE Breaks Channel Resistance with Volume. Plus AMGN, ASEI, LRCX, TTWO 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)... READ MORE
F5 Networks (FFIV) formed a doji near the August low and then surged off this support level with two long white candlesticks. Volume was also above average both days. In the indicator window, the Accumulation Distribution Line bottomed in August and formed a higher low in early October. Money appears... READ MORE
RISING FLAG BREAKDOWN REMAINS FOR SPY... Link for todays video. Stocks staged one heck of a come back in the final hour of trading on Tuesday. Actually, the rally was even shorter than that as the surge started around 3:10PM and carried on to the 4PM close. Despite this... READ MORE