Some serious consolidation continued in the markets as the Nifty oscillated in a defined range before closing the week with modest gains. Examination of daily charts shows that the Nifty tested its 50-DMA again and rebounded from that level while defending that point as important support. The trading range widened... READ MORE
KEY TAKEAWAYS * DraftKings has demonstrated significant revenue growth following a lengthy period of outperformance relative to the S&P 500 and its respective sector and industry * DraftKings' stock is overbought, with a declining RSI suggesting near term market correction * Set a price alert to measure an anticipated pullback... READ MORE
KEY TAKEAWAYS * META rose after the company's last earnings report and could be due for a pullback * If META pulls back, you could buy the stock at a lower price using options * By selling puts, you could collect premium from selling puts with the possibility of buying META... READ MORE
KEY TAKEAWAYS * Walmart's stock was one among 37 outliers, rising early amidst a major market decline before slightly pulling back * Technical indicators warn of potential weakness, signaling an imminent dip, but there's a good entry point for WMT * Setting price alerts around specific levels and watching... READ MORE
In this edition of StockCharts TV'sThe Final Bar, Dave highlights breakouts in home builders and Bitcoin and reviews key names reporting earnings including ABNB, SHOP, and MAR. He also shares an equity scan he uses every week to identify the next potential breakout candidates. Stay tuned until the... READ MORE
On today's DecisionPoint Trading Room episode, Carl reviews the Magnificent 7 and gives you his opinion on their current and possible future states. He warns against two in particular and gives his stamp of approval on three others. Negative divergences are still a problem and Carl explains why.... READ MORE
Two weeks of decline, one week of advance, and a week of consolidation. This is what sums up the market activity over the past month. The markets consolidated over the past week and stayed largely within a defined trading range, and the past five sessions remained choppy, with the NIFTY... READ MORE
KEY TAKEAWAYS * Bring the New Market Factors Panel to a Relative Rotation Graph * Same approach using different index family shows a different image With the release of the new Panels feature on the StockCharts dashboard, there are a lot of ways that users of RRG charts can take advantage! Let&... READ MORE
KEY TAKEAWAYS * Costco's stock surged to unprecedented heights, surpassing its previous all-time record * Costco's technical situation looks exceedingly bullish, but like many stocks hitting record highs, the stock may be slightly overbought * The Money Flow Index can measure momentum and show whether price buying pressure is... READ MORE
KEY TAKEAWAYS * PLTR stock gapped up after its impressive Q4 earnings and guidance * Watch the average directional index and relative strength index to monitor the momentum of the upward trend * If momentum continues to be strong, the stock would be an attractive investment If you look at a chart of... READ MORE
KEY TAKEAWAYS * Eli Lilly & Co's beat on earnings and revenue expectations led to a swift 5% spike and reversal in its stock price * Analyzing Eli Lilly's stock price chart reveal some headwinds that may not be apparent in fundamental data * Eli Lilly's stock... READ MORE
KEY TAKEAWAYS * The S&P 500, Dow Jones Industrial Average, and Nasdaq 100 closed at all-time highs * Tech stocks are back in focus as mega-tech companies wrap up their Q4 earnings * Investors should take advantage of pullbacks if they want to add positions to their portfolios What a week!... READ MORE
KEY TAKEAWAYS * Not all is what it looks like inside the Consumer Discretionary Sector * Using Cap-weighted vs. Equal-Weighted Sectors on RRG reveals underlying differences * Mega-cap Stocks are dragging XLY down * Using a Simple Scan Leads to four interesting charts Cap-Weighted vs. Equal-Weighted Sometimes, you need to look a little further.... READ MORE
Note to the reader: This is the sixth in a series of articles I'm publishing here taken from my book, "Investing with the Trend." Hopefully, you will find this content useful. Market myths are generally perpetuated by repetition, misleading symbolic connections, and the complete ignorance of... READ MORE
KEY TAKEAWAYS * Big Week in Earnings * Magnificent 7 - Five Reporting (MSFT, GOOGL, META, AAPL and AMZN * Other stocks we look at: PFE, SBUX, AMD, MA, BA, MET, MRK, XOM and CVX * Even more coverage with viewer symbol requests This is a big week for earnings so Carl and Erin... READ MORE
The previous week was reduced to just a short 3-day trading week as Monday was declared a special holiday while on Friday, the markets remained shut on account of Republic Day. Despite this, the markets remained extremely choppy and traded in a much wider range as they continued to decline... READ MORE
Note to the reader: This is the fifth in a series of articles I'm publishing here taken from my book, "Investing with the Trend." Hopefully, you will find this content useful. Market myths are generally perpetuated by repetition, misleading symbolic connections, and the complete ignorance of... READ MORE
KEY TAKEAWAYS * IBM stock price hits a new 52-week high and moves above its upper Bollinger Band® * IBM's share value could continue rising or pull back toward the middle Bollinger Band * If IBM fills its post-earnings price gap it could present a more favorable entry point As a... READ MORE
KEY TAKEAWAYS * AMD stock price hits a new 52-week high and moves above its upper Bollinger Band® * AMD's share value could continue rising or pull back and go below the middle Bollinger Band * Watch volume, relative strength index, and money flow index to identify a slowing down in... READ MORE
KEY TAKEAWAYS * Dow Jones Industrial Average and S&P 500 close at record highs * Technology stocks are back in the spotlight, with the Nasdaq 100 closing up 1.95% * Keep an eye on momentum and volatility as earnings reports continue to pour in Tech stocks are striking back after... READ MORE
KEY TAKEAWAYS * Commodities and USD rotating deep inside the lagging quadrant, indicating weak relative strength * Bitcoin is in a strong relative uptrend vs all other asset classes, but going through a corrective phase * Stocks are the clear winner in this asset allocation battle The RRG above shows the rotation of... READ MORE
KEY TAKEAWAYS * Nasdaq Composite index rises 1.35% thanks to semiconductor stocks and an upgrade for Apple * The Nasdaq Composite is trading close to its 52-week high, but market breadth isn't sharing the bullish sentiment * Market breadth indicators, such as the advance-decline issues and percent above moving average,... READ MORE
As the S&P 500 digests the rally to all time highs, Alex and Tyler take a look at GoNoGo Trend® conditions of several areas of the market on this edition of the GoNoGo Charts show. Amongst US equity indices, the Nasdaq and S&P offer more constructive... READ MORE
After a long weekend, the market action on January 16th held some surprises. The Bullish Trends, or gainers, were the dollar and -- here is the surprise for some -- many different commodities. The Bearish Trends, or losers, were foreign currencies, long bonds, and (not shown on the chart) US... READ MORE
KEY TAKEAWAYS * Using RRG to see Large-Cap vs Small-Cap sector rotation * The current strength for Small-Cap stocks vs Large-Caps is evident At the end of last year, I wrote a blog article about the relationship between Large-Cap and Equal-Weight sectors. It involved plotting the ratios of the large-cap sector ETFs... READ MORE
After consolidating for most of the week, the markets extended their upmove and ended at yet another record lifetime high. In the past four out of five sessions, the markets were seen consolidating and staying under limited corrective retracement. However, they did find themselves taking support at the short-term 20-Day... READ MORE
Chartists looking to increase their odds should consider two timeframes for their analysis. The longer timeframe sets the strategic tone, while the shorter timeframe defines the trading tactics. Strategically, I am interested in stocks with long-term uptrends. Tactically, I am looking for bullish continuation patterns to trade after a correction.... READ MORE
KEY TAKEAWAYS * The stock market exhibited tentative behavior this week probably due to uncertainty about inflation and geopolitical developments * S&P 500 index touched a high but pulled back to close slightly higher * Crude oil prices broke above $75 but pulled back and is holding support at its 200-week... READ MORE
KEY TAKEAWAYS * The Health Care sector has shown upside momentum in 2024 * It may be a good time to add some healthcare stocks to your portfolio * The Bullish 50/200-day MA Crossovers scan in StockCharts filtered out three healthcare stocks that deserve attention The Health Care sector started rallying in... READ MORE
Mean-reversion strategies typically buy stocks when they are oversold, which means catching the falling knife. These declines are often rather sharp, but the odds favor some sort of bounce after reaching an oversold extreme. While there are no guarantees, chartists can mitigate risk by insuring that the stock is still... READ MORE
KEY TAKEAWAYS * SPY is testing, maybe breaking, short-term support * Next support in 455 area * Financials sector tails on daily and weekly RRG moving back in sync * All banks inside the leading quadrant HAPPY NEW YEAR!!! (I guess that is still allowed on day 5...) Let's kick off the... READ MORE
KEY TAKEAWAYS * Disney's stock price is showing signs of consolidation and may be worth watching for signs of a breakout * The stock is at a critical support level and if the stock is able to hold this support, it could be positive for the stock * A break above... READ MORE
KEY TAKEAWAYS * Sprouts Farmers Market has been riding a relatively steady uptrend channel over the last year * More dominant on Main Street than Wall Street, its earnings have been yielded positive surprises almost every quarter since 2019 * Look for SFM stock to pull back to its 50-day SMA Most traders... READ MORE
KEY TAKEAWAYS * MRNA stock surges on the potential of widening its vaccine offerings * Moderna's stock price has crossed above its upper Bollinger Band and is showing technical strength * Look for MRNA's stock price to move above its 50-week moving average Last year's vaccine sales... READ MORE
The equity markets have ended the year on a very strong note. As the week comes to a close, we not only end the month, but also the year. On a monthly basis, the NIFTY has had a stellar run this December, having gained 1598 points (+7.94%). On a... READ MORE
KEY TAKEAWAYS * The stock market ended with a bang in 2023 in spite of inflationary fears * Small caps and emerging markets are breaking out of a trading range so look for value plays in these asset groups * Bitcoin has soared and the trend is likely to continue in 2024 The... READ MORE
KEY TAKEAWAYS * Intel stock is up over 90% in 2023 and could see further growth in 2024 * The stock crossed above its upper Bollinger Band and is now pulling back * Any signs of a reversal followed by price action that confirms the uptrend is resuming will be an ideal entry... READ MORE
KEY TAKEAWAYS * A drop in global demand contributed to FedEx's quarterly earnings miss which caused the stock price to fall * FedEx's stock price action reveals the critical price levels to watch for entry points * Set technical price alerts at key support and resistance levels to closely... READ MORE
In the previous technical note, it was categorically mentioned that, given the unabated upmove, the markets have risen near-vertically. This has caused the indices to deviate greatly from their mean, making them overextended and prone to violent profit-taking bouts. While weekly, the markets have just consolidated, but on the daily... READ MORE
KEY TAKEAWAYS * Cooling inflation data sends the S&P 500 higher, which is a good start to the Santa Claus rally * Investors should monitor small-cap stocks and bonds and consider adding them to investment portfolios * Volatility is low but investors should continue monitoring the VIX to identify changes in... READ MORE