The monthly Market Roundup video for October is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
MAJOR STOCK INDEXES MAY BE HEADED FOR TEST OF SUMMER LOWS...Stock prices are undergoing more short-term technical damage. All three major stock indexes shown below have fallen decisively below their 50-day averages. Which raises the likelihood for a test of their August lows, and 200-day moving averages (red arrows)... READ MORE
STOCK INDEXES ARE UNDER HEAVY SELLING PRESSURE...The weakest U.S. manufacturing number in ten years turned an early stock rebound into a bout of heavy selling. And the short-term stock picture continues to weaken. Chart 1 shows the Nasdaq Composite Index failing an early attempt to regain its 50-day... READ MORE
NASDAQ ENDS BELOW ITS 50-DAY AVERAGE...While the three major U.S. stock indexes pulled back further from their July high, the Nasdaq was by far the weakest performer. Chart 1 shows the Nasdaq Composite Index ending the week well below its 50-day moving average (blue line). In addition, its... READ MORE
NASDAQ COMPOSITE FALLS FURTHER BELOW ITS 50-DAY LINE... Chart 1 shows the Nasdaq Composite falling sharply today and moving further below its 50-day moving average. Selling in software and semiconductors are leading the decline in the technology sector. Communication stocks are also having a bad day. Chart 2 shows the... READ MORE
* What's Happening with Last Week's Three Featured Charts * Short-Term Oscillators * Longer-Term Indicators are Mostly Bullish Last week, I wrote that the short-term technical picture looked positive, but that I was watching three charts which would confirm a significant extension to the bull market in the event... READ MORE
DOW AND SPX HOLD SUPPORT...NASDAQ REGAINS BLUE LINE...Stocks regained most of the previous day's losses. Chart 1 shows the Dow Industrials bouncing off their 20-day average. Chart 2 shows the S&P 500 holding support at its 50-day line. The Nasdaq turned in an even... READ MORE
STOCK INDEXES LOSE MORE GROUND...Majorstock indexes moved further away from their July peak today and some short-term chart damage was done, especially in the Nasdaq market. Chart 1 shows the Dow Jones Industrial Average losing -142 points (-0.53%) and ending right on its 20-day average (green line); its... READ MORE
STOCK INDEXES STALL NEAR JULY HIGH...Stocks ended the week with minor losses after meeting some resistance along their July high. Chart 1 shows the Dow Industrials consolidating just below their summer high, but remaining well above chart support and moving average lines. Chart 2 shows the S&P... READ MORE
MAJOR STOCK INDEXES NEAR SUMMER HIGHS...Major U.S. stock indexes are trading higher today and approaching a test of their summer highs. Chart 1 shows the Dow Industrials continuing its bounce from yesterday afternoon and maintaining its bullish bias. Chart 2 shows the S&P 500 doing the... READ MORE
STOCKS RECOVER EARLY LOSSES...Stocks recovered from initial selling after today's quarter point rate cut. Chart 1 shows the Dow Industrials ending 36 points (+0.13%) higher today to reverse earlier losses. The S&P 500 also closed modestly higher; while the Nasdaq ended modestly lower. Sector... READ MORE
* High Velocity of Short-Term Indicators Indicate Higher Prices * Three Charts to Monitor for More Upside Potential High Velocity of Short-Term Indicators Indicate Higher Prices A couple of weeks ago, I cited some short-term indicators for the US stock market that struck me as being bullish. Several of these are now... READ MORE
CRUDE OIL AND ENERGY SHARES JUMP...As expected, the weekend attack on Saudi Arabia's oil facilities pushed the price of oil sharply higher today and in very heavy trading. Chart 1 shows the United States Oil Fund (USO) surging 12% to the highest level in four months. Energy... READ MORE
TEN-YEAR TREASURY YIELD BOUNCES OFF MAJOR CHART SUPPORT... My Wednesday message showed the 10-Year Treasury yield bouncing off major chart support at its 2012 and 2016 lows and in a very oversold condition. That made a rebound in bond yields more likely. The weekly bars in Chart 1 show the... READ MORE
STOCK INDEXES GAIN MORE GROUND... The stock upturn that started last week when major stock indexes cleared their August trading range and 50-day averages gained momentum today. All three major indexes hit the highest level in more than a month. Chart 1 shows the Dow Industrials gaining 227 points (+0.... READ MORE
TEN-YEAR TREASURY YIELD IS TESTING MAJOR SUPPORT...Bond yields have been falling all over the world since the end of last year. Several foreign government bond yields have fallen deeply into negative territory and have helped pull Treasury yields lower. The 30-Year Treasury Yield recently fell to a new record... READ MORE
DOW TRANSPORTS NEAR TEST OF OVERHEAD RESISTANCE...After lagging behind the rest of the market for most of the past year, transportation stocks are starting to show new life. Chart 1 shows the Dow Jones Transportation Average surging more than 1% today to the highest level in more than a... READ MORE
RISING OIL PRICE BOOSTS ENERGY STOCKS...A jump in crude oil helped make energy the strongest sector on a generally flat market day. Chart 1 shows the Energy SPDR (XLE) climbing 2% to the highest level in a month (on rising volume), and showing upside leadership for the the first... READ MORE
* Long-Term Commodity Technicals are Finely Balanced * Gold Leads Commodities * Commodities Rise and Fall with Confidence * Short-Term Technicals are Encouraging * Platinum Breaking Out Commodities have been losing ground recently, but the latest data suggest that they may be in the process of turning around. If so, that could be important for... READ MORE
MAJOR STOCK INDEXES ACHIEVE UPSIDE BREAKOUTS...A rally in global stocks has taken a turn for the better with major stock indexes clearing some upside resistance barriers. The three major stock indexes shown below have all cleared their August highs and 50-day moving averages. At the same time, their 14-day... READ MORE
The monthly Market Roundup video for September is now available. Good luck and good charting, Martin J. Pring The views expressed in this article are those of the author and do not necessarily reflect the position or opinion of Pring Turner Capital Group of Walnut Creek or its affiliates.... READ MORE
* Breadth Acting Positively * Four Short-Term Indicators Turn Bullish * Stocks Could Be Breaking Against Gold The mood on Wall Street is turning ever more cautious as the economic numbers continue to soften. We need to remember, though, that the stock market is a forward-looking indicator, as it looks through the foggy... READ MORE
MAJOR STOCK INDEXES BACK OFF FROM OVERHEAD RESISTANCE...Stocks are only halfway through one of the year's weakest seasonal stretches between August and September. And September is usually the weaker of the two. And they're starting the month on a weak note. Another round of tariffs... READ MORE
THE DOW HOLDS ITS RED LINE...A lot of underlying support levels have held this week, and stocks are now approaching overhead resistance.Tuesday's message showed the Dow Industrials testing its 200-day moving average for the third time since the start of August. Sometimes the third time is... READ MORE
SMALLER STOCKS TEST IMPORTANT SUPPORT LEVEL...Yesterday's message showed the Dow Industrials and a handful of sector SPDRS testing potential support at their 200-day moving averages. Today's message will show three stock groups that are testing even more important support along their spring lows. Starting with... READ MORE
* Support Holds in an Oversold Market * Most Sectors Still Experiencing Rising Peaks and Troughs Last week, I pointed out that the stock market faced a challenge at its recent lows. This was because I saw that a breach of the solid red trend lines in Charts 1 and 2 would... READ MORE
STARTING WITH THE DOW...Chart 1 shows the Dow Industrials finding support at its 200-day moving average for the third time this month. That's an encouraging sign. In addition, its daily MACD lines are close to turning positive (lower box); while its 14-day RSI line (top box) is... READ MORE
* Trick or Treat for Global Equities? * Several Reliable US Short-Term Indicators Turning Bullish During my many decades in this business, I have never heard of a recession so well-advertised as the one we are witnessing currently. It's a fact that financial market events that are widely expected rarely... READ MORE
* Yield Curve Inversion and Recessions * Using the Economy to Forecast the Economy * What Happens to the Stock Market after an Initial Inversion? * Yield Curve Conclusion * Catch a Falling Knife, Anyone? By now, everyone and his dog is aware that the yield curve has inverted. An event such as this is... READ MORE
DEFLATIONARY COMMODITY TREND... My earlier message today showed that bond yields and stocks have been trending in the same direction for most of the last two decades. It further explained that deflationary tendencies around the start of the new century changed the bond-stock relationship that existed prior to that. Plunging... READ MORE
BOND YIELDS AND STOCKS BEFORE 2000...A lot of attention is being given to what falling bond yields mean for the U.S. economy and stock market. I've written several books on intermarket analysis that explain the impact that bond yields have on the stock market (and eventually... READ MORE
MORE HEAVY STOCK SELLING...Global stocks are under heavy selling pressure again today. Bond yields continue to drop around the world. The ten-year Treasury yield dropped below the 2-year yield for the first time since 2007 which has created a second inversion of the yield curve. The 10-year yield fell... READ MORE
* Long-Term Bond Oscillators Almost Fully Stretched * Key Reversal Bars and Other Evidence Suggests Bonds are Exhausted on the Upside * The Trend is Your Friend.... Until It Isn't About a month ago, I wrote an article entitled "Bond Yields May Not Be Headed Lower After All". In... READ MORE
STOCKS END MODESTLY LOWER AS BOND YIELDS WEAKEN...After a week of wild swings, stocks ended only modestly lower on the week. The devaluation of the Chinese yuan to the lowest level in more than a decade set the tone for a volatile week in financial markets. The 10-year Treasury... READ MORE
TRADITIONAL DOW THEORY DIVERGENCE...I was asked during an interview on Stockcharts TV yesterday whether I was concerned about the Dow Theory divergence between the Dow Industrials and the Dow Transports. I responded that I was. But with an additional twist to that theory which is also giving a warning... READ MORE
STOCK INDEXES CONTINUE REBOUND...Yesterday's impressive intra-day rebound in stocks is continuing into today's trading.Chart 1 shows the Dow Industrials surviving a test of its 200-day moving average yesterday; and building on that today. That's an encouraging sign. But it still needs to... READ MORE
* Three Short-Term Oscillators Positioned for a Rally * Two Psychological Indicators Looking Bullish * Just When You Thought Bonds Would Go Up Forever Usually, it takes a long time for some of the indicators to reach what we might call "deep fear" levels, points from which important rallies can be... READ MORE
DOW TESTS 200-DAY AVERAGE...Chart 1 shows the Dow Industrials testing their 200-day moving average (red line). The 14-day RSI line has dipped below 30 signalling a short-term oversold condition. That's the first important test of support for the Dow. BANKS HAVE A BAD DAY...Falling bond yields... READ MORE
S&P 500 STILL LOOKS VULNERABLE...U.S. stocks are under pressure again today. Another plunge in global bond yields is undermining confidence in the global economy. Three more foreign central banks lowered rates today in New Zealand, India, and Thailand. That's feeding the "race to... READ MORE
SECTOR BREADTH ISN'T BROAD ENOUGH...One of the ways to measure the strength of the stock market's uptrend is to see how many of its eleven sectors have hit new highs with the major stock indexes. In a strong uptrend, most market sectors should be confirming... READ MORE