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Top Ten Charts to Watch for October 2024
by David Keller,
President and Chief Strategist, Sierra Alpha Research
As we near the end of what has been a fairly solid Q3 for the equity markets, we are left with the eternal question for investors: "What's next?"
We now have the Fed's first rate cut in the rearview mirror, with multiple rate cuts...
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This Week's "Sector to Watch" and "Industry Group to Watch"
by Erin Swenlin,
Vice President, DecisionPoint.com
On Friday mornings in our DP Diamonds subscriber-only trading room, the DecisionPoint Diamond Mine, I like to look for a "Sector to Watch" and an "Industry Group to Watch" within. These are for your watchlist and not necessarily ready for immediate investment. In the case of...
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Unlocking GDX's Short-Term Potential: How to Nail the Measured Move Strategy
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* VanEck Vectors Gold Miners ETF (GDX) broke above its recent highs, confirming a continued uptrend.
* GDX displayed a short-term trading setup that was apparent in its price chart.
* The "measured move" rule can exploit an obvious short-term trading opportunity in GDX.
A few weeks back, two...
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Opportunities in Industrials and Materials
by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com
KEY TAKEAWAYS
* Negative divergence remains a distracting factor
* Defensive rotation still present
* Industrials and Materials on positive track toward leading RRG quadrant
Despite a backdrop of conflicting market signals, there are still sectors within the S&P 500 that are showing promising movements and potential opportunities for investors. Today,...
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SCTR Report: China Adds More Stimulus, FXI in Second Position
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* iShares China Large-Cap ETF (FXI) gains technical strength and has made it to second position in the StockCharts Technical Rank (SCTR).
* FXI could be in the early stages of a bull rally, so keep an eye on this ETF.
* Set your price target levels for entry and exit...
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How to Use the ADX Indicator (Trend Strength Explained)
by Joe Rabil,
President, Rabil Stock Research
In this exclusive StockCharts TV video, Joe presents an introduction to the Average Directional Index (ADX), sharing how it is calculated and how to use it. He highlights some of the strengths, and weaknesses, of this powerful indicator. He then analyzes Bitcoin, NVDA, and AVGO, and finishes up the show...
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How to Spot the Perfect Buying Opportunity in XLRE
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* Investors began piling into real estate stocks over the last three months.
* XLRE is now just under 1% from its 52-week high, as indicated by the Distance From Highs indicator.
* With a potential dip on the horizon in XLRE, watch these levels to spot zones of opportunity from...
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The Dollar Index is Down, But Is It Out?
by Martin Pring,
President, Pring Research
The Dollar Index has been selling off sharply in the last few weeks and has now reached critical support in the form of the lower part of its recent trading range. The big question is whether it will break below the range or extend it in any way.
Chart 1...
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DP Trading Room: Analyzing Two New Stocks in SP500 (DELL, PLTR)
by Erin Swenlin,
Vice President, DecisionPoint.com
In today's free DP Trading Room Carl reviews the charts of two new members to the SP500, Dell (DELL) and Palantir (PLTR). Are they poised to break out on this news?
Carl also discussed the inflation on housing prices to open the show. Before going over the signal...
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Bullish or Bearish? The Truth About Rate Cuts and Stock Performance
by David Keller,
President and Chief Strategist, Sierra Alpha Research
So the first Fed rate cut is behind us, and we are no longer in a "higher for longer" period, but in a new rate cut cycle which will most likely last well into 2025. So that's good news for stocks, right? Well, not necessarily.
The...
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Dow Jones in the Spotlight, Bonds Stabilize, Tech Plays Catch-Up
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* The Dow Jones Industrial Average closed at a new all-time high.
* Stock market indexes still have bullish momentum in spite of up and down movement.
* Bond prices could stabilize after digesting the interest rate cut.
The Federal Reserve's interest rate cut decision on Wednesdaywas like receiving...
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A Sector Rotation Dilemma ...
by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com
KEY TAKEAWAYS
* Sector Rotation remains defensive
* S&P chart showing resemblence to late 2021
* Negative divergences still in play
First of all, I apologize for my absence this week. I caught something that looked like Covid, and felt like Covid, but it did not identify (pun intended) as Covid....
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The SCTR Report: Carvana's Gain Makes It Worth a Revisit
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* Carvana stock fell behind in its ranking during its August–September pullback, but it's now gaining momentum.
* From a weekly perspective, the uptrend in Carvana looks solid.
* Watch the Fibonacci retracement levels on the weekly chart to identify your entry and exit points.
On August 5,...
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This S&P 500 Rally is Defying the Experts – Here's What You Need to Know
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* Wells Fargo analysts issued a warning about the current rally.
* Their last warning in November 2023 may have caused many investors to have missed out on a huge move.
* Analysts can be right or wrong, so it's important to watch key technical levels.
If you logged...
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DP Trading Room: Tracking Gold Sentiment
by Erin Swenlin,
Vice President, DecisionPoint.com
As part of Carl's review of Gold charts, he explained how we use the close-ended fund, Sprott Physical Gold Trust (PHYS) to measure sentiment for Gold. Depending on how PHYS trades, it trades at a discount or premium based on the physical Gold that it holds. These discounts...
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An Indicator to Reduce Whipsaws and Ride Trends
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
KEY TAKEAWAYS
* Whipsaws and losing trades are part of the process for trend-following strategies.
* These strategies are profitable because average profits far exceed average losses.
* Chartists can reduce whipsaws by adding signal thresholds to the 5/200 day SMA cross.
Whipsaws and losing trades are part of the process for...
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A Déjà Vu in The Consumer Staples Sector Sends a Strong Warning Signal
by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com
KEY TAKEAWAYS
* Tech bounce is judged as recovery within downtrend.
* XLP, XLF, and XLV are positioned for outperformance in coming weeks.
* The XLP chart is showing interesting characteristics which we have seen before
Tech Rallies, But Remains Inside the Lagging Quadrant
A quick look at the Relative Rotation Graph for...
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The SCTR Report: Insmed's Stock Hangs in the Balance—Here's What You Need to Know
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* Insmed (INSM) has been near the top of the StockCharts SCTR report for weeks.
* Insmed's stock price has pulled back, but maintained its high SCTR score.
* Insmed could be posed for an upside move.
Numerous companies are making strides within their respective sectors, but, unless you...
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Stock Market Today: Are Big Tech Growth Stocks Back in the Spotlight?
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* Stocks rebounded on Wednesday with wide trading ranges.
* Investors are rotating back into large-cap growth and momentum stocks.
* The Financial sector was hit hard by negative news from banks but made some recovery.
It was a massive turnaround day in the market on Wednesday—stocks sold off after...
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DP Trading Room: AI Bubble Deflating
by Erin Swenlin,
Vice President, DecisionPoint.com
The recent decline last week revealed that the artificial intelligence bubble is deflating. Magnificent Seven stocks are unwinding in response to investors losing confidence in the AI trade in general. Carl gives us a complete picture of the Magnificent Seven in the short and intermediate terms. It doesn't...
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Market Timing for a Rules-Based Strategy
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
KEY TAKEAWAYS
* Chartists need a market timing mechanism to assess risk
* Risk is above average during bear markets (preserve capital)
* Risk levels are acceptable during bull markets (invest capital)
Any strategy that trades stocks needs some sort of market timing mechanism to identify bull and bear markets. Typically, stock strategies...
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Four Intermarket Confidence Relationships that Aren't Confident
by Martin Pring,
President, Pring Research
Most of the primary trend indicators I follow are in a bullish mode and show few signs of flagging. That said, some intermarket relationships, which help to indicate whether the environment is risk-off or risk-on, have started to move in a risk-off direction. That's usually a bearish omen...
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Intermediate-Term Bearish Head & Shoulders on Semiconductors (SMH)
by Erin Swenlin,
Vice President, DecisionPoint.com
We are always on the lookout for chart patterns. Recently, we've found a bearish head-and-shoulders developing on Semiconductors (SMH).
Looking at the daily chart below, we can see the pattern developing. However, we do have to point out participation. Note the very low percentages on %Stocks > 20/...
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Is It Time to Buy Intel?
by Carl Swenlin,
President and Founder, DecisionPoint.com
I've been around long enough to remember when Intel (INTC) was the NVIDIA of the day. Now, INTC is under severe pressure, having suspended its dividend, and is currently being considered for removal from the Dow 30 Industrial Average. Oh, how the mighty have fallen!
With INTC having...
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The SCTR Report: Why TSLA Stock Sees Tremendous Strength
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* Tesla's stock price has been gaining technical strength, evident from its daily and weekly price charts.
* An analysis of Tesla's stock price shows a potential intermediate-term trading opportunity.
* Before entering a buy position, be sure to identify your entry and exit positions.
When the...
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The Best Reversal Patterns (Trading Strategy Explained)
by Joe Rabil,
President, Rabil Stock Research
In this exclusive StockCharts TV video, Joe shares how he identifies and trades a reversal pattern. Highlighting what causes him to focus in on a stock, he shares the 1-2-3 reversal pattern, along with the keys in MACD and ADX that allow you to improve the risk/reward equation in...
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How to Spot a Hedge Fund Trap: MicroStrategy's Dramatic Plunge
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* In March 2024, certain hedge funds began heavily shorting MicroStrategy stock.
* Microstrategy was a meme stock that surged 300% from February to March.
* While many investors got burned when Microstrategy's price tanked, there were clues that short sellers were taking over the stock.
In early 2024,...
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Stock Market Today: Tech Tumbles as Mega-Cap Stocks Get Hit by Major Profit-Taking
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* Semiconductor stocks get slammed
* Volatility rises as investors become more fearful of more selling pressure ahead
* Investors should be extremely cautious as Broadcom earnings and Non-Farm Payrolls could impact the stock market
I hope you had a relaxing, restful long weekend, and welcome to September.
It was a...
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Is It Inflation or Deflation? What's in Your Wallet?
by Martin Pring,
President, Pring Research
Every business cycle has an inflationary and deflationary part, and it's very important for both traders and investors at least to try to have some understanding which has the upper hand at any particular point in time.
For example, when the economy is in a slowdown or recessionary...
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It all Started with a Big Bang!
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com
KEY TAKEAWAYS
* Extended uptrends often start with a bang, a big bang.
* Chartists can find big bangs by measuring price moves in ATR terms.
* Paypal broke a major resistance level with a 5+ ATR advance in August.
Extended trends often start with big bangs and major breakouts. Chartists can identify...
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4 MACD Patterns That Will Give You an Edge
by Joe Rabil,
President, Rabil Stock Research
In this exclusive StockCharts TV video, Joe shares four MACD patterns that he focuses on - Pinch, Reverse Divergence, Divergence, and Zero Line Reversal. These signals will help to improve the timing of your trades. He then shares which sectors are showing relative improvement vs the S&P 500,...
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Is the Multi-Month Dollar Index Trading Range About to be Resolved?
by Martin Pring,
President, Pring Research
Last June, I wrote an articlewhose title was more or less the same as this one. At the time, the Index was bumping up against the top of a major trading range, and it looked very much as if it was about to experience an upside breakout. My conclusion was...
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DP Trading Room: NVDA Going Into Earnings - Hold or Sell?
by Erin Swenlin,
Vice President, DecisionPoint.com
It is a big week for earnings and NVIDIA (NVDA) is at the top of the list! Erin gives you her view on whether to hold into earnings based on the technicals of the chart. She also reviewed other stocks reporting on Wednesday: CRM, CRWD, HPQ and OKTA.
Carl talks...
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RRG-Velocity Jumping on XLF Tail
by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com
KEY TAKEAWAYS
* Sector rotation out of technology
* All other sectors are picking up relative strength
* Real-Estate, Utilities, and Financials showing strong rotations
On the weekly Relative Rotation Graph, the rotation still favors almost every sector over Technology. I discussed the opposite rotations between weekly and daily RRGs in last week&...
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The SCTR Report: Workday Rises on Strong Earnings Results and Rising Technical Strength
by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com
KEY TAKEAWAYS
* Workday, Inc. stock rose higher on strong earnings and guidance
* If Workday stock rises with strong momentum and technical strength, the stock has potential to make for a favorable intermediate-term position trade
* Learn how to set an alert for WDAY stock price to cross a specific threshold
When...
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Is Peloton Stock the Next Big Turnaround? What You Need to Know Before It's Too Late
by Karl Montevirgen,
Financial Writer
KEY TAKEAWAYS
* Peloton shares jumped over 38% on Thursday following an earnings surprise
* Having fallen 97% from its record peak, Peleton could present investors with a ground-level market opportunity
* With the breakout well underway, here are the actionable levels to watch as Peloton stock surges ahead or dips back down...
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Top Ten Charts for August: Best Healthcare Stocks for August 2024
by David Keller,
President and Chief Strategist, Sierra Alpha Research
In this edition of StockCharts TV'sThe Final Bar, Dave continues a five-part series covering ten charts to watch in August 2024, honing in on two Health Care stocks showing renewed signs of strength. He also breaks down how earnings releases relate to price trends, and how investors should...
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Disney Bust or Bargain? Here are the Levels to Watch!
by Karl Montevirgen,
Financial Writer
The House of Mouse has taken a serious nosedive over the last three years, having gone from a high of about $201 down to $89 and change—a 55% drop that feels like one of its roller coaster rides. Not exactly the thrill Disney shareholders were hoping for.
But Disney...
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Top Ten Charts for August: Two Magnificent 7 Stocks Worth Watching
by David Keller,
President and Chief Strategist, Sierra Alpha Research
In this edition of StockCharts TV'sThe Final Bar, Dave kicks off a five-part series covering ten charts to watch in August 2024, starting with two mega-cap growth stocks testing key resistance levels. Will they power up to new all-time highs into September?
This video originally premiered on August...
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DP Trading Room: Potential Housing Crash?
by Erin Swenlin,
Vice President, DecisionPoint.com
Today Carl and Erin discuss the potential of a housing crash as more evidence is coming in that many haven't thought of. Private Equity firms have become very involved in the housing market, buying up properties on high amounts of leverage. What happens when it's time...
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