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MID-CAP SPDR TURNS CHOPPY, BUT MAINTAINS DIRECTIONAL BIAS -- KEY LEVELS TO WATCH FOR THE OFFENSIVE SECTOR ETFS -- DO SECTOR ROTATIONS SUPPORT THE BULLS? (RRG DEMO) -- ECONOMIC INDICATORS SHOW MORE STRENGTH THAN WEAKNESS

by John Murphy,

Chief Technical Analyst, StockCharts.com

MID-CAP SPDR TURNS CHOPPY, BUT MAINTAINS DIRECTIONAL BIAS... Link for today's video. Establishing support and resistance levels for indices and ETFs with dozens of stocks is a challenge because there are so many moving parts (stocks). Instead of exact support-resistance levels based on one chart feature, I prefer...   READ MORE 

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MARKET INDEXES SCORE BIG GAINS -- EUROPE GAINS EVEN MORE AND BOUNCES OFF CHART SUPPORT -- ENERGY SHARES REBOUND WITHIN MAJOR DOWNTREND -- HOMEBUILDER ETF RESUMES UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCK INDEXES SCORE BIG GAINS... Global stocks are experiencing a nice bounce today with major U.S. stock indexes experiencing gains of nearly 2%. Chart 1 shows the Dow Industrials climbing well above its 50-day average after holding above chart support at its mid-December low. Chart 2 shows a similar...   READ MORE 

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NEXT DOWNSIDE TARGET FOR CRUDE OIL RANGES FROM $40 TO THE MID-$30S -- GLOBAL DEFLATIONARY PRESSURES PULL 10-YEAR TREASURY YIELD BELOW 2% -- FALLING FOREIGN CURRENCIES SHOW WEAKNESS ABROAD -- EMU ISHARES HAVE WEIGHED ON U.S. STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

LONGER RANGE VIEW OF CRUDE OIL ... The plunging price of oil is driving financial trends all over the world. Plunging oil is hurting energy companies that produce that commodity, as well as countries that are energy exporters. In addition, its deflationary effect is pulling global bond yields lower and contributing...   READ MORE 

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SPY CORRECTS WITHIN WELL DEFINED UPTREND -- RISK INDICATORS TURNED MIXED -- JUNK BONDS GET SLAMMED AGAIN -- TREASURY YIELDS CONTINUE TO CONVERGE -- NEW HIGHS DRY UP, BUT BREADTH REMAIN BULLISH -- UTILITIES AND FINANCE STILL LEAD SECTOR BREADTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND DIA CORRECT WITHIN WELL DEFINED UPTRENDS... Stocks were hit with intense selling pressure over the last few days, but these declines have yet to turn key breadth indicators bearish or even test major support levels. Today we will look at three major index charts, some key breadth charts,...   READ MORE 

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MSCI World ETF and NYSE Composite Violate their 12-month Moving Averages. Is This the Start of a Primary Bear Market?

by Martin Pring,

President, Pring Research

* Much expected Santa Rally did not happen and that’s bearish. * MSCI Europe Australia Far East ETF right on the brink of a major breakdown. * Small caps may have experienced a false upside breakout. * Chinese ETF breaks out big time on both an absolute and relative basis. In my mid-December...   READ MORE 

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OIL SINKS TO YET ANOTHER NEW LOW -- ENERGY SPDR REVERSES IN KEY RETRACEMENT ZONE -- STEEL STOCKS WEIGH ON METALS & MINING SPDR -- GOLD AND THE 2011 EUROPEAN CRISIS -- GOLD AND THE 2015 CHART -- GOLD, THE DOLLAR AND CORRELATION

by John Murphy,

Chief Technical Analyst, StockCharts.com

OIL SINKS TO YET ANOTHER NEW LOW... Link for today's video. Chart 1 shows the USO Oil Fund (USO) falling some 3% on Monday and hitting yet another new low. The pattern since August has been decline, consolidate, break down and repeat. Oil has not really bounced the...   READ MORE 

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THE 18-YEAR REAL ESTATE CYCLE STILL HAS A LONG WAY TO GO BEFORE HITTING ANOTHER PEAK -- THE CASE-SHILLER HOME PRICE INDEX NEARS SIX-YEAR HIGH -- RISING REITS AND HOMEBUILDERS ARE LEADING INDICATORS -- WE'RE STILL IN EARLY STAGES OF REAL ESTATE UPTURN

by John Murphy,

Chief Technical Analyst, StockCharts.com

THERE IS AN 18-YEAR REAL ESTATE CYCLE ... My 2013 book entitled "Trading With Intermarket Analysis" described the existence of an 18-year real estate cycle. In other words, real estate tends to peak about every 18 years. This reliable pattern has been traced back to the 1800s. Credit for...   READ MORE 

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An Important Move is Likely for Gold and Silver in Early 2015. Here are the Chart Points to Watch

by Martin Pring,

President, Pring Research

* Dollar based gold is in a bear market. * Yen and euro denominated gold are in primary bull markets. * Gold shares complete a massive top. Last week we reviewed the technical picture of the major currencies. This week it is the turn of the precious metals because the finely balanced technical...   READ MORE 

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CHINA AND INDIA ARE EMERGING MARKET WINNERS -- FALLING OIL HURTS BRAZIL AND RUSSIA -- SHANGHAI STOCKS END YEAR AT THREE YEAR HIGH -- NEW ETFS OFFER EXPOSURE TO SHANGHAI A-SHARES, BUT MAY NOT BE LIQUID ENOUGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

BRIC DIVERGENCE... The year 2014 saw very diverging trends among the world's largest emerging market stocks. The lines in Chart 1 show those diverging trends among the four BRIC countries that are Brazil, Russia, India, and China. I'm using exchange traded funds here because they take...   READ MORE 

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BROADCASTING AND ENTERTAINMENT INDEX HITS NEW HIGH -- MEDIA ETF BREAKS FROM MASSIVE WEDGE -- CARNIVAL AND ROYAL CARIBBEAN LIFT PEJ TO NEW HIGH -- IS CBS COMING OUT OF A BIG CORRECTION? -- BBT GETS BACK IN SYNC WITH SPY -- FITB FORMS BIG REVERSAL PATTERN

by John Murphy,

Chief Technical Analyst, StockCharts.com

BROADCASTING AND ENTERTAINMENT INDEX HITS NEW HIGH... Link for today's video. Chart 1 shows the DJ US Broadcasting and Entertainment Index ($DJUSBC) in the main window and the S&P 500 in the indicator window. Instead of using the price relative ($DJUSBC:$SPX ratio) to compare performance,...   READ MORE 

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IWM AND IJR SCORE NEW HIGHS -- FINANCIALS LEAD SMALL-CAPS HIGHER -- SMALL AND MID CAP AD LINES LEAD -- SECTOR AD LINES SHOW BROAD STRENGTH -- UTILITIES AND FINANCE LEAD HIGH-LOW RANKING

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM AND IJR SCORE NEW HIGHS... Link for today's video. Barring a big plunge the next few days, small-caps are going out with a bang this year. Small-caps lagged the broader market throughout 2014 because the Russell 2000 iShares (IWM) and the S&P SmallCap iShares (IJR)...   READ MORE 

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End Of The Year Dollar Index Review

by Martin Pring,

President, Pring Research

* Long-term dollar rally likely to continue. * Yuan on the edge of a breakdown. * January is tied with November as the most bullish month for the dollar. * Short-term dollar momentum overstretched but re-accelerating to the upside. Currencies At the end of August the US Dollar Index ($USD) broke out from a...   READ MORE 

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SOME NEW AND CONTINUING THEMES FOR 2015 -- SHORT-TERM T-YIELDS RISE AND HALF NORMALIZE -- EURO MOVES CLOSER TO PARITY -- SMALL-CAPS LEAD THE MARKET -- XLF AND IAI TARGET 2007 HIGH -- XLE CONFIRMS LARGE REVERSAL PATTERN

by John Murphy,

Chief Technical Analyst, StockCharts.com

SOME NEW AND CONTINUING THEMES FOR 2015... Today's Webinar will look at long-term charts to extrapolate some themes to consider in 2015. This written commentary shows most of the Webinar charts with some brief notes. Tune into the Webinar for full details. Every so often we get a...   READ MORE 

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S&P MIDCAP INDEX FORMS BIG CONTINUATION PATTERN -- EQUAL-WEIGHT STARTS OUTPERFORMING CAP-WEIGHT -- SMALL-CAP FINANCE AND TECH SECTORS HIT NEW HIGHS -- SEMICONDUCTOR SPDR EXTENDS STRONG UPTREND -- CAVIUM AND RF MICRO LEAD SEMIS

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P MIDCAP INDEX FORMS BIG CONTINUATION PATTERN... Link for today's video. Chart 1 shows the S&P MidCap 400 hitting a new high at the beginning of July and then forming a large consolidation the last six months. Actually, the index hit another all time...   READ MORE 

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ENERGY SHARES LEAD U.S. STOCKS HIGHER -- SMALL CAPS BREAKOUT -- FOREIGN STOCKS ALSO BOUNCE ON FIRMER CRUDE PRICE -- SO DO HIGH YIELD BONDS -- OIL SERVICE STOCKS BOUNCE FROM DEEP OVERSOLD CONDITION AND MAJOR SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

US STOCKS END WEEK ON A STRONG NOTE... A combination of factors pushed U.S. (and global) stocks sharply higher during the second half of the week. One big factor was the Wednesday Fed statement that it would be "patient" in raising rates next year. Another was a...   READ MORE 

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MICRO-CAPS TAKE THE LEAD ON RELATIVE ROTATION GRAPH -- MICROCAP ETF BREAKS BIG CHANNEL -- HIGH-LOW PERCENT INDICATORS WHIP BACK TO BULLISH -- MINDING THE GAPS -- UTILITY ETFS BREAK OUT ACROSS THE BOARD -- SYMBOLS FOR SECTOR ETFS

by John Murphy,

Chief Technical Analyst, StockCharts.com

MICRO-CAPS TAKE THE LEAD ON RELATIVE ROTATION GRAPH ... Link for today's video. Small-caps, mid-caps and micro-caps are starting to show some relative strength. John Murphy noted that the January effect was boosting small-caps as the Russell 2000 started outperforming the Russell 1000 recently. We can also see an...   READ MORE 

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TRADERS ARE BUYING IN ANTICIPATION OF YEAREND SANTA CLAUS RALLY -- JANUARY EFFECT STARTS BOOSTING SMALL CAPS IN MID-DECEMBER -- WE'RE NOW IN THE SWEET SPOT OF THE MIDTERM ELECTION CYCLE -- AND FOREIGN STOCKS ARE REBOUNDING

by John Murphy,

Chief Technical Analyst, StockCharts.com

SANTA CLAUS RALLY IS STILL AHEAD ... The stock market is benefiting from a number of seasonal trends which should last well into the new year. For one thing, the month of November starts the "best three months" span that lasts into January, and the "best six months&...   READ MORE 

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MARKET LIKES FED INTENTION TO STAY PATIENT -- OVERSOLD ENERGY STOCKS LEAD GLOBAL STOCK RALLY -- XLE IS ALSO IN POTENTIAL SUPPORT ZONE-- US STOCK INDEXES REGAIN 50-DAY LINE -- CANADIAN STOCKS BOUNCE SHARPLY OFF OCTOBER LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS AND BOND YIELDS JUMP... The Fed promised to remain "patient" in raising rates next year. Stocks liked the news, Treasuries didn't. Fixed income yields rose with the bigger gains in the shorter end of the yield curve. Chart 1 shows the 5-Year T-Note Yield ($FVX)...   READ MORE 

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Equities still Look Vulnerable Notwithstanding a Possible Reflexive Bounce

by Martin Pring,

President, Pring Research

* Dichotomy in the credit markets is extending. * Dim Sum bonds at a critical juncture. * Gold asset markets weakening again. US Equities Statistics tell us that December is the most bullish month of the year for equities. Interestingly, the November-January period offers the best performing consecutive months of the year (S&...   READ MORE 

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WEBINAR CHARTS -- RISK ON OR RISK OFF? -- PUTTING A 5% DECLINE INTO PERSPECTIVE -- HIGH-LOW PERCENT INDICATORS REMAIN BULLISH -- HIGH-LOW PERCENT FOR XLI TURNS BEARISH -- SHORT-TERM BREADTH REMAINS BEARISH -- GOLD, OIL, DOLLAR AND BONDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

WEBINAR CHARTS... The charts below are from Tuesday's Webinar and include some basic commentary. See the webinar recording for more details. I also covered eleven stocks (AAPL, ORCL, CSCO, BAC, UTX, EOG, CIEN, JSDU, UPS, CHRW, JBHT). There was a demo showing the different ways to measure relative...   READ MORE 

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RETAIL ETF'S CONTINUE TO LEAD -- APPAREL AND SPECIALTY GROUPS SHOW RELATIVE STRENGTH -- SECTOR SUMMARY DEMO -- RS LINES HIT NEW HIGHS FOR BBBY, DSW AND PLCE -- RESTAURANT INDEX PULLS BACK AFTER NEW HIGH -- TXRH AND BWLD LEAD RESTAURANT GROUP

by John Murphy,

Chief Technical Analyst, StockCharts.com

RETAIL ETF'S CONTINUE TO LEAD ... Link for today's video. John Murphy pointed out the negative correlation between retail stocks and the price of oil in early December. In short, retail stocks rose sharply as the price of oil fell sharply. This theme continues to play out...   READ MORE 

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OIL PLUNGES BELOW $60 ON FORECAST FOR LOWER DEMAND -- OIL EXPORTERS CONTINUE TO LEAD GLOBAL STOCK DECLINE -- RUSSIAN WEAKNESS HURTS EUROPE -- LATIN AMERICA LEADS EMERGING MARKETS ISHARES TO NEW LOWS

by John Murphy,

Chief Technical Analyst, StockCharts.com

IEA CUTS OIL DEMAND FORECAST AGAIN... Crude oil can't catch a break. Plunging oil prices over the past few months have been attributed mainly to increasing supplies, largely resulting in the shale revolution in the U.S. This week, however, the International Energy Agency (IEA) cut its forecast...   READ MORE 

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USING BREADTH INDICATORS FOR SHORT-TERM SIGNALS -- QQQ CORRECTION TARGET -- AROONS GO PARALLEL ON IWM CHART -- BOND MARKET SHOWS RISK AVERSION -- MATERIALS SECTOR BREAKS DOWN -- GOLD MINERS ETF STALLS AFTER BOUNCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING BREADTH INDICATORS FOR SHORT-TERM SIGNALS... Link for today's video. The economic news has been pretty good lately, but stocks came under selling pressure and did not act very well. First, I should note that I am not that interested in the news per se. Instead, I am...   READ MORE 

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Two Benchmarks that will Likely Signal the Direction of the Next Major Equity Move

by Martin Pring,

President, Pring Research

* Stocks likely to resume their downtrend vis a vis bonds. * Emerging Markets ETF resting on a key trend line. * Different bond maturities moving in different directions. US Equities The battle lines are being drawn for the next major move in the equity market. For the NYSE Composite ($NYA) those lines...   READ MORE 

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CANADA TUMBLES ON FALLING OIL ALONG WITH MEXICO -- EMERGING MARKETS ISHARES HIT NINE-MONTH LOW -- ENERGY SECTOR TUMBLES AGAIN -- ENERGY SELLING HERE AND ABROAD SPILLS OVER TO BROADER MARKET -- S&P 500 SUFFERS SHORT-TERM DOWNTURN--

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGNS SHARES ARE FALLING ... Foreign shares are falling today, especially those that export oil. Chart 1 shows the Toronto $TSX Composite Index tumbling nearly -2.4% and nearing a test of its October low. The Canada/SPX ratio (solid line) is falling even faster. Emerging markets tied to oil are...   READ MORE 

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SMALL-CAPS SURGE TO KEEP THE FLAG ALIVE -- S&P 500 AND NASDAQ 100 LEAD HIGH-LOW INDICATORS -- HINDENBURG OMEN TRIGGERS -- FINANCE, HEALTHCARE AND UTILITIES LEAD SECTOR HIGH-LOW PERCENT -- THREE KEY INDUSTRY GROUP ETFS MAKING NEW HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS SURGE TO KEEP THE FLAG ALIVE... Link for today's Webinar video. The brief commentary and charts are from today's webinar. Chart 1 shows the S&P 500 bouncing off its first support zone today. Chart 2 shows the S&P MidCap 400 consolidating...   READ MORE 

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IWM AND IJR FLY THE FLAG AT HALF MAST -- SMALL-CAP SECTORS TAKE THE LEAD -- SMALLCAP FINANCIALS ETF BREAKS FLAG TREND LINE -- INTERNET LEADERS AND LAGGARDS -- INTERNET ETF STALLS OUT -- FACEBOOK FORMS A BIG CONSOLIDATION

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM AND IJR FLY THE FLAG AT HALF MAST ... Programming Note: I will be doing a Webinar tomorrow at 1PM ET in place of the Market Message and video. You can register here. With a little help from financial services, the Russell 2000 iShares (IWM) had its best week since...   READ MORE 

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Global Equity Market Roundup

by Martin Pring,

President, Pring Research

* USA still leading the way on the upside. * Russian and Mexican ETF’s break to the downside. * EEM components offering a mixed picture. * The two sides of Japan. International Equities With the US, German, Japanese, Indian, New Zealand, Pakistani  and several other markets joining the US in new all-time high...   READ MORE 

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GERMAN DAX HITS RECORD HIGH AS EUROPE STRENGTHENS -- U.S. DOLLAR INDEX RECORDS EIGHT-YEAR HIGH -- SPREAD BETWEEN US AND GERMAN BOND YIELD WIDENS -- U.S. TWO-YEAR YIELD HITS THREE-YEAR HIGH ON STONG JOBS REPORT -- FINANCIALS SHOW MARKET LEADERSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

GERMAN DAX CLOSES AT RECORD HIGH ... German stocks sold off Thursday after the ECB delayed further monetary easing until the first quarter. Later reports that more monetary stimulus might come as early as January helped boost European stocks which rallied sharply on Friday. Chart 1 shows the German DAX Composite...   READ MORE 

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SECTOR WEIGHTINGS IN THE S&P 500 -- KEY SECTORS LEAD WITH STRONG BREADTH -- REGIONAL BANK SPDR GETS BIG REBOUND -- FOUR BANKS WITH BREAKOUT MOVES -- STRONG JOBS NUMBER HITS EURO, BONDS AND GOLD -- ISM INDICES, AUTO SALES AND NON-FARM PAYROLLS COME IN BIG

by John Murphy,

Chief Technical Analyst, StockCharts.com

SECTOR WEIGHTINGS IN THE S&P 500 ... Link for today's video. The four most important sector SPDRs are strong and this supports the long-term uptrend in the large-cap indices ($SPX, $NDX, $INDU). The consumer discretionary sector is the most economically sensitive sector with lots of retail oriented...   READ MORE 

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ECB INACTION CAUSES SELLING IN EUROPE -- OIL PRODUCERS LIKE CANADA SUFFER BIGGER LOSSES -- CANADIAN DOLLAR WEAKENS WITH OIL -- CHINA RALLY MAY FUELED BY FALLING OIL -- S&P 500 SUFFERS MINOR SETBACK FROM OVERBOUGHT CONDITION

by John Murphy,

Chief Technical Analyst, StockCharts.com

ECB PUSHES MORE EASING INTO NEXT YEAR ... Mario Draghi announced today that the ECB would wait until the first quarter to consider additional monetary easing. That decision disappointed those who were hoping for quicker action. At the same time, he downgraded prospects for eurozone growth and inflation. Bond prices sold...   READ MORE 

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Bullish Seasonals and Cycles Should Push Stocks to Significant Highs in 2015..but will they?

by Martin Pring,

President, Pring Research

* Bullish NYSE percent has likely peaked out. Indicates market will become more selective. * You can’t keep a good dollar down! * Emerging market currency fund breaks down. EM are likely to follow. US Equities I have always said that trend trumps everything. By that I mean that however bad the...   READ MORE 

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HEALTHCARE SECTOR CONTINUES TO LEAD -- NOVO NORDISK AND BIOGEN BOUNCE OFF SUPPORT -- MATERIALS SPDR TESTS ITS BREAKOUT -- PALLADIUM OUTSHINES OTHER METALS -- PALLADIUM ETF HITS KEY JUNCTURE -- ENERGY ISSUES WEIGH ON HIGH YIELD BOND ETF

by John Murphy,

Chief Technical Analyst, StockCharts.com

HEALTHCARE SECTOR CONTINUES TO LEAD... Link for today's video. Healthcare remains one of the strongest sectors in the stock market as the HealthCare SPDR (XLV) hit a new high again on Tuesday. Chart 1 shows XLV surging some 18% from its October low and hitting a series of...   READ MORE 

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LARGE-CAP ETF'S LEAD UPSWING WITH NEW HIGHS -- SMALL-CAPS LAG, BUT TREND IS STILL UP -- TWO RISK INDICATORS REMAIN BULLISH FOR STOCKS -- ONE AD LINE DIVERGES FROM THE PACK -- BANK ETFS BREAK DOWN -- A BIG WEEK FOR ECONOMIC AND LABOR INDICATORS

by John Murphy,

Chief Technical Analyst, StockCharts.com

LARGE-CAP ETF'S LEAD UPSWING WITH NEW HIGHS... Link for today's video. The S&P 500 SPDR (SPY) and the Nasdaq 100 ETF (QQQ) remain the strongest of the major index ETFs. SPY represents a broad basket of large-cap stocks, while QQQ represents a basket of...   READ MORE 

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PLUNGING OIL HURTS COMMODITY-RELATED ASSETS AND COUNTRIES -- AND BOOSTS US BONDS AND STOCKS -- DAY'S WINNERS INCLUDE RETAILERS AND AIRLINES -- FALLING BOND YIELDS BOOST STAPLES AND UTILITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

OPEC FAILURE TO CUT CAUSES OIL TO PLUNGE... Thursday's decision by OPEC not to cut oil output has caused that commodity to plunge in value, and has brought other commodities down with it. The weekly bars in Chart 1 show the United States Oil Fund (USO) plunging to...   READ MORE 

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A couple of Chinese Equity Sector ETF's break to the Upside

by Martin Pring,

President, Pring Research

* Stock/bond ratio challenges overhead resistance. * Watch $120 on the GLD. * Commodities may be set for short-term rally. US Equities For some time I have been pointing to several discrepancies in the market that have been troubling. My conclusion was that as long as the uptrend since mid-October was intact...   READ MORE 

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WITH CHINA AND JAPANESE STOCKS DOING SO WELL, DON'T FORGET ABOUT EUROPE -- GERMAN STOCKS HIT FIVE-MONTH HIGHS -- BUT BE SURE TO HEDGE OUT CURRENCY RISK -- RECORD LOW GERMAN YIELD PULLS TREASURY YIELD LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

CHINESE AND JAPAN STOCKS HAVE BECOME WORLD LEADERS... The two largest Asian stock markets have become two of the world's best gainers this year. The red bars in Chart 1 show the Shanghai Stock Exchange Composite Index ($SSEC) rising to the highest level in more than three years....   READ MORE 

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SMALL-CAPS REFUSE TO BUCKLE -- REGIONAL BANK SPDR STALLS -- BIOTECH ETFS BREAK TO NEW HIGHS -- SEMICONDUCTOR SPDR HOLDS SHORT-TERM BREAK -- 20+ YR T-BOND ETF EDGES TOWARDS BREAKOUT -- SHANGHAI COMPOSITE HITS ANOTHER MILESTONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS REFUSE TO BUCKLE... Programming Note: There is no video today because I am working on the road. Also note that I will be taking the rest of the week off to be with family and friends. I will post a Market Message and video next Monday, December 1st. In...   READ MORE 

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S&P MIDCAP 400 IS KNOCKING ON THE DOOR -- MICRO-CAP ETF HITS MOMENT-OF-TRUTH -- S&P 500 AND NASDAQ 100 AD LINES SCORE NEW HIGHS -- HIGH-LOW INDICATORS SURGE -- MATERIALS SECTOR GETS A BREADTH SURGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P MIDCAP 400 IS KNOCKING ON THE DOOR... Programming note: I am on the road today and there is no video. Getting the trend right is more than half the battle when it comes to trading and investing. Moreover, once we define the trend, it is important to...   READ MORE 

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S&P RETAIL SPDR HITS NEW RECORD -- LEADERS INCLUDE BEST BUY, DOLLAR TREE, AND WILLIAMS SONOMA -- MACY'S BREAKS OUT -- HOMEBUILDING ETF HITS EIGHT-MONTH HIGH -- LED BY LENNAR, DR HORTON, AND PULTEGROUP -- CONSUMER DISCRETIONARY SPDR SHOWS NEW LEADERSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P RETAIL SPDR HITS NEW HIGH ... Strong buying of retail stocks continues. I've been showing record highs in the Market Vectors Retail ETF (RTH). Chart 1, however, shows the S&P Retail SPDR (XRT) hitting a record high as well. Its relative strength line (above...   READ MORE