Starbucks (SBUX) got a jolt over the last five days with a surge above the upper trendline of a falling channel. Maybe it has something to the grand opening in the Brussels train station! Taking a step back, this pattern looks like a massive flag and the breakout signals a... READ MORE
SMALL-CAPS AND MID-CAPS LEAD STOCKS HIGHER... Link for todays video. Stocks stalled on Wednesday, but held most of their big gains from Tuesday as the Fed voted to maintain current policy. In particular, small-caps led the way higher the last two days with the Russell 2000 ETF (IWM) surging off... READ MORE
Techs and small-caps led the market higher as the S&P 500 ETF (SPY) broke above short-term resistance with a big surge. Breadth was also big with the Net Advances Ratios and Net Advancing Volume Ratios exceeding .50 ($NYAD:$NYTOT,$NYUD:$NYTV,$NAAD:$NATOT,$NAUD:$NATV). I will feature... READ MORE
From the Free Charts page, we can see that the 10 most active Nasdaq and NYSE stocks are up in early trading on Tuesday. Gains are especially strong on the Nasdaq. The image below comes from the CandleGlance link just under the most active list. Microsoft has been moving higher... READ MORE
On the daily chart, the S&P 500 ETF (SPY) is making a stand at support from the March low. After two spinning tops last week, the ETF opened weak and closed pretty strong. Market breadth was not that strong though. Net Advances and Net Advancing Volume did not... READ MORE
A Shows Strong Upside Volume. DELL Shows Relative Strength in June. INTC Returns to the Monster Gap. Plus BA, MMM, ORCL, SYMC. 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
After breaking support with rather high volume the last three days, Apple (AAPL) formed a hammer candlestick that dipped below 315 intraday. The stock still has a gap to contend with and needs to fill this gap to confirm the hammer. You can find more hammers on the predefined scan... READ MORE
RETAILERS LEAD OVERSOLD BOUNCE... Link for todays video. Stocks edged higher in early trading on Monday with retailers showing relative strength. It is going to be a big, and possibly volatile, week for the markets. Several key ETFs are testing their March lows as the Papandreou government braces for a... READ MORE
The Greek tragedy continues to drive the markets, and for good reason. EU leaders failed to come up with a definitive plan and the Greek parliament is set for a no confidence vote Tuesday. Should the Papandreou government survive this vote, another round of reforms will be pushed through and... READ MORE
Traders are expecting the horrible market we've seen thus far in June to only get worse. The VIX is the ticker symbol for the Chicago Board Options Exchange Market Volatility Index. It measures implied volatility of S&P 500 index options, or the "expectations" of... READ MORE
There are several new indexes at StockCharts.com that everyone should check out. They are our new "Theory" indexes that contain artificial, idealized versions of four important chart patterns - a sawtooth reversal pattern ($THSAW), a sine wave pattern ($THSINE), a "perfect" Elliott Wave pattern ($THEW)... READ MORE
Last Thursday's message showed the point & figure version of the % NYSE stocks above their 200-day moving average in a downside correction. I suggested that the first sign of improvement would be a three-box reversal to a rising X column. We got that this week, but it proved... READ MORE
While the U.S. Dollar Index didn't do so well Friday, it is getting ready to generate a Trend Model buy signal. Note on the chart below that the 20-EMA is less than a hair away from crossing up through the 50-EMA, which will mechanically generate the buy... READ MORE
The Energy SPDR (XLE) has been one of the weakest sectors this month. In fact, the chart shows XLE breaking support from a large Head-and-Shoulders reversal pattern. The left shoulder peaked in March, the head peaked in April and the left shoulder peaked at the end of May. With a... READ MORE
The Home Construction iShares (ITB) and the Finance SPDR (XLF) have been moving together the entire year. The indicator window shows XLF in black and ITB in red. Not much difference between these two price patterns. In the main window, ITB is testing support from broken resistance and the 50-62%... READ MORE
XLB, XLI AND XLK TEST 2011 SUPPORT LEVELS... Link for todays video. In addition to a number of key indices, several sector SPDRs are testing support from the March lows. These lows are important because stocks declined rather sharply from mid February to mid March. The subsequent surge off the... READ MORE
Believe it or not, there was only one downgrade to the indicator summary this week. The AD Volume Lines for the Nasdaq and NYSE broke below their March lows. Admittedly, these indicators barely broke their March lows with Wednesday's sharp decline. This could be an overshoot based on... READ MORE
Stocks remain way oversold and ripe for a bounce in the coming days. On the daily charts, the S&P 500 ETF (SPY) and Russell 2000 ETF (IWM) formed spinning top candlesticks as both test support from the March lows. QQQ is also testing support here. Spinning tops signal... READ MORE
While the stock market swooned over the last few weeks, Dell Inc (DELL) held its ground and did not break its late May lows. In fact, the stock has been edging higher the last three weeks. The indicator window shows the Price Relative rising to a new high for 2011.... READ MORE
%NYSE STOCKS ABOVE 200-DAY AVERAGE STILL DROPPING... Last Thursday's message showed the point & figure version of the % NYSE stocks above their 200-day moving average in a downside correction. I suggested that the first sign of improvement would be a three-box reversal to a rising X column. We... READ MORE
The S&P 500 ETF (SPY) attempted to reverse course twice, but both surges quickly failed at 130 and the ETF moved sharply lower. Tuesday's surge was followed by a gap down on Wednesday and close below Monday's low. Blame is on Bad news (on... READ MORE
AMZN Firms after Support Break. CHK Forms Harami with Two Inside Days. KGC Forms Bull Flag after Surge. Plus DAL, RL, UAL, UTX 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... READ MORE
Stocks were down rather sharply on Wednesday, but a few were bucking the trend with gains. These can be found by looking for a little green in the Sector Market Carpet. Boston Scientific (BSX), Novellus (NVLS) and Network Appliance (NTAP) are attracting buyers on a big down day. Click this... READ MORE
SPY FILLS TUESDAYS GAP ... Link for todays video. Stocks were sharply lower on Wednesday as the risk-off trade returned after Tuesdays sharp advance. The Nasdaq 100 ETF (QQQ) and S&P 500 ETF (SPY) broke below Mondays lows with sharp declines on Wednesday. Chart 1 shows SPY failing to... READ MORE
Stocks surged with a broad advance that lifted most boats. Net Advances and Net Advancing Volume on both the Nasdaq and NYSE surged as well. These breadth surges were comparable to the breadth surges seen at the mid March and mid April lows. Also note that SPY formed a Harami... READ MORE
Stocks finally caught a bid with the Nasdaq leading the way higher. The image below comes from the Free Charts Page. All Nasdaq most actives are up. 8 of 10 NYSE most actives are up with Citigroup and Bank of America as the only decliners. Users can click the PerfChart... READ MORE
The S&P 500 ETF (SPY) remains oversold, but unable to sustain a bounce. Last week's bounce attempts failed as the ETF moved to new lows on Friday. SPY did manage to firm on Monday with a spinning top. Also notice that the body of the spinning... READ MORE
AAPL Returns to Support Zone. GMO Firms at Key Retracement. STEC Finds Support Near Large Gap. Plus DOW, LLL, WINN 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
The Commodity Index Fund ($DBC) surged back above 30 in June, but is near resistance from broken support and the 62% retracement mark. Also notice that RSI is trading in its resistance zone (50-60) after becoming overbought. This is a make-or-break area for DBC. Click this image for a live... READ MORE
OIL ETFS BREAK SUPPORT WITH SHARP DECLINES... The 12-Month US Oil Fund (USL) and the US Oil Fund (USO) broke short-term support levels with sharp declines on Monday. Friday I wrote about the triple whammy hitting oil as Saudi Arabia increased output, stocks were down and the Dollar was up.... READ MORE
There is no change in the stock market analysis as stocks became even more oversold on Friday. The S&P 500 ETF (SPY) opened weak with a gap down and closed weak. The ETF is now down around 5.5% in the last eight days, which compares to the... READ MORE
The Predefined Scans page features color coded bars so users can see when scans are active. Red bars show a decrease in hits. Green bars show an increase in hits. Today's intraday scan shows a sharp increase in the number of stocks making the cut in bearish scans.... READ MORE
SETTING DOWNSIDE TARGETS FOR SPY AND QQQ... The S&P 500 ETF (SPY) is in the midst of a correction within a bigger uptrend. One look at a chart 2 year chart confirms this uptrend. In fact, the decline of the last six weeks looks rather mild when compared... READ MORE
With a few more downgrades this week, the indicator summary moved to zero. The March decline was enough to turn the indicator summary negative, but this decline was a mere correction within the bigger uptrend. With the indicator summary on the verge of turning negative again, I must wonder if... READ MORE
There is no change in the analysis of the S&P 500 ETF (SPY). The ETF broke its April low and is now trying to firm around 129-130. After a 4.8% decline in six days, the ETF bounced with a feeble move above 129 on Thursday. A move... READ MORE
% NYSE STOCKS ABOVE 50-DAY MA STILL DROPPING... Nearly a month ago on May 16 I showed the % of NYSE stocks trading over their 50-day moving averages ($NYA50R) dropping below 50% which betrayed a weakening market beneath the surface. As of yesterday, that percentage had dropped to 23% which is the... READ MORE
Stocks tried to firm again on Wednesday, but buying pressure remains weak or non-existent. Most of this firmness stems from less selling pressure. SPY is down around 4.8% the last six days as it moved below its April low. This makes it short-term oversold. At this point, the most... READ MORE
Downside Volume Increases for CB. MMM Firms at Key Retracement. TEVA Forms Bull Flag. Plus BRCM,CHK,DELL,ISRG,MMC,NBR 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... READ MORE
The FirstTrust Internet ETF (FDN) has been moving lower with the rest of the market, but firmed the last two days. A doji formed on Tuesday and a small spinning top on Wednesday. This firmness is also occurring near the 62% retracement mark and the ETF is short-term oversold. Click... READ MORE
DOW INDUSTRIALS SPDR TESTS APRIL LOWS... Link for todays video. The Dow Industrials SPDR (DIA) is clearly in a downtrend since early May. How far will this decline extend? The April lows mark the first test and the March lows mark the second test. Chart 1 shows DIA trying to... READ MORE