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POSSIBLE UKRAINE CEASEFIRE LIFTS GLOBAL STOCKS -- RUSSIAN AND EUROPEAN STOCKS JUMP -- CHINA LEADS EMERGING MARKETS -- DOW INDUSTRIALS AND TRANSPORTS TEST OLD HIGHS -- RISING DOLLAR HURTS COMMODITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

RUSSIAN STOCKS JUMP 5% ... News of a possible ceasefire in Ukraine has given a big boost to global stock markets. Nowhere is that more evident than in Russia. Chart 1 shows the Market Vectors Russia ETF (RSX) jumping more than 5%. The Russian ETF needs to clear its mid-August peak...   READ MORE 

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REGIONAL BANKS AND RUSSELL 2000 LEAD -- HOME CONSTRUCTION ISHARES FORMS A HIGH-TIGHT FLAG -- TOLL BROTHERS AND USG GO FOR BREAKOUTS -- GOLD HOLDS LONG-TERM BEARISH PATTERN -- YEN FOLLOWS EURO WITH A BREAK DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

REGIONAL BANKS AND RUSSELL 2000 LEAD... Link for today's video. September trading has started with a bang for the Russell 2000 iShares (IWM) and the Regional Bank SPDR (KRE). I am mentioning these two in the same sentence because financial services accounts for 24.19% of IWM and...   READ MORE 

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RISING DOLLAR AND PLUNGING EURO REFLECT WEAKER ECONOMIC CONDITIONS IN EUROPE -- FALLING EUROZONE BOND YIELDS PULL HIGHER-YIELDING TREASURY YIELDS LOWER AS DEFLATION THREAT WORSENS-- EUROZONE STOCKS ALSO WEAKEN ON UKRAINE TENSIONS AND LOWER RUSSIAN STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR INDEX REACHES 12-MONTH HIGH ... The U.S. dollar continues to strengthen. The daily bars in Chart 1 show the U.S. Dollar Index now trading at the highest level in a year. Its upturn started in May and was followed by upside breakouts during July and August. The fact...   READ MORE 

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SPY AND QQQ STALL ABOVE THEIR JULY HIGHS -- AMAZON, GOOGLE, QUALCOMM AND EBAY LAG -- GOOGLE DOES SHOW SOME IMPROVEMENT THOUGH -- RUSSIAN INDEX REVERSES AT SUPPORT BREAK -- 20+ YR T-BOND ETF WHIPS UP ON SPY -- ONLY ONE COMMODITY GROUP SHOWS STRENGTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND QQQ STALL ABOVE THEIR JULY HIGHS... Link for today's video. Stocks took a breather this week as the S&P 500 SPDR (SPY) and the Nasdaq 100 ETF (QQQ) moved sideways after a strong open on Monday morning. Considering the negative geopolitical news this week,...   READ MORE 

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TALE OF TWO INDUSTRY GROUPS TODAY -- BIOTECHNOLOGY IS THE WILD WEST -- MID CAP AND SMALL CAP BIOTECHS ARE PERFORMING OK AS WELL -- CONDITIONS AROUND $GOLD ARE CHANGING

by John Murphy,

Chief Technical Analyst, StockCharts.com

TALE OF TWO INDUSTRY GROUPS TODAY... Health Care continues to be a leading sector. Within healthcare, the Biotechnology sector is a rapidly changing field with huge medical advancements being made. There are currently 6 SCTR ranked large cap stocks that have really strong SCTR rankings and strong weekly charts in...   READ MORE 

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US Dollar Index Tentatively Breaks Out from a Ten Year Base

by Martin Pring,

President, Pring Research

* Short-term indicators still bullish for stocks. * Growth (IVE) about to break out against value (IVW). * Commodity market experiences bullish short-term divergence. (Click here for a video version of this commentary.) US Equities The short-term indicators i.e. those monitoring trends that range from 3-6-weeks remain in a bullish mode and...   READ MORE 

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US Dollar Index Tentatively Breaks Out from a Ten Year Base (Video Version)

by Martin Pring,

President, Pring Research

Click here for a written version of this article....   READ MORE 

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EMERGING MARKETS ISHARES HIT THREE-YEAR HIGH TO EXTEND BULLISH BREAKOUT -- EMERGING MARKET CURRENCIES ARE ALSO HAVING A GOOD YEAR, ESPECIALLY AGAINST THE EURO -- HIGHER YIELDING EMERGING MARKET BONDS ARE ALSO RISING -- CHINA BREAKOUT IS A BULLISH SIGN

by John Murphy,

Chief Technical Analyst, StockCharts.com

EMERGING MARKET ISHARES REACH THREE-YEAR HIGH ... The weekly bars in Chart 1 show Emerging Markets iShares (EEM) now trading at the highest level in three years. Just over a month ago, the EEM broke above its late 2012 high near 44.00. That bullish breakout bodes well for emerging market...   READ MORE 

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RUSSELL 2000 ETF LAGS, BUT MAINTAINS BULLISH EDGE -- EQUAL-WEIGHT S&P 500 ETF HITS NEW HIGH -- OIL NEARS SUPPORT ZONE AND REMAINS OVERSOLD -- OIL & GAS EQUIP & SERVICES SPDR FIRMS NEAR KEY RETRACEMENT -- MERCK LEADS HEALTHCARE SPDR TO NEW HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

RUSSELL 2000 ETF LAGS, BUT MAINTAINS BULLISH EDGE... There has been some concern that the Russell 2000 (small-caps) is lagging the Russell 1000 (large-caps). Relative weakness in small-caps detracts from a broad market advance because these stocks represent the appetite for risk and the high-beta end of the stock market....   READ MORE 

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INDUSTRIALS, TECH AND DISCRETIONARY SECTORS HIT NEW HIGHS -- SHANGHAI COMPOSITE HOLDS BREAKOUT -- BOVESPA CONFIRMS MAJOR BULLISH REVERSAL PATTERN -- YEN BREAKDOWN IS POSITIVE FOR NIKKEI 225 -- JO PULLS BACK AFTER BIG SURGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

INDUSTRIALS, TECH AND DISCRETIONARY SECTORS HIT NEW HIGHS... Link for today's video. Stocks were broadly higher around midday on Monday with several major index ETFs hitting new highs. The Dow Diamonds, Nasdaq 100 ETF, S&P 500 SPDR and Equal-Weight S&P 500 ETF hit new...   READ MORE 

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FINANCIALS LEAD AS XLF AND REM HIT NEW HIGHS -- FOUR FINANCIAL STOCKS TO WATCH -- BASE METALS ETF EXTENDS UPTREND -- ALUMINUM LEADS BASE METALS -- COPPER MINERS ETF CORRECTS WITHIN UPTREND -- 2-YEAR YIELD ENDS PULLBACK AND RESUMES UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIALS LEAD AS XLF AND REM HIT NEW HIGHS... Link for today's video. The Finance SPDR (XLF) and the Equal-weight Finance ETF (RYF) moved to new highs this week to affirm their long-term uptrends. Things can't be all that bad when these two sector ETFs record...   READ MORE 

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$SPX SPENDS THE DAY BREAKING THROUGH TO NEW ALL TIME HIGHS -- $INDU ONLY 75 POINTS FROM PREVIOUS HIGHS -- THE RUSSELL 2000 ($RUT) STALLS AT 50 DMA -- THE NYSE ADVANCE DECLINE LINE HIT NEW HIGHS TODAY AS WELL

by John Murphy,

Chief Technical Analyst, StockCharts.com

$SPX SPENDS THE DAY BREAKING THROUGH TO NEW ALL TIME HIGHS... While the S&P500 ($SPX) worked through to all time highs today as shown on Chart 1, there was a continuous drumbeat towards the 2000 level for the $SPX. The market peaked out at 1994, which was 3...   READ MORE 

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CONSUMER DISCRETIONARY SPDR HITS A NEW HIGH -- HOME IMPROVEMENT AND APPAREL RETAILERS PUSH MARKET VECTORS RETAIL ETF TO A NEW HIGH -- BIG JUMP IN HOUSING STARTS LIFTS HOMEBUILDERS

by John Murphy,

Chief Technical Analyst, StockCharts.com

CONSUMER DISCRETIONARY SPDR HITS NEW HIGH... A positive sign for the stock market and the economy is the ability of the Consumer Discretionary SPDR (XLY) to hit a new high this week, as shown in Chart 1. The relative strength line (above chart) had fallen during the first half of...   READ MORE 

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SMALL-CAP FINANCIALS ETF RECAPTURES KEY MOVING AVERAGE -- REGIONAL BANK SPDR ATTEMPTS ANOTHER UPSWING -- STEEL ETF SURGES OFF CONSOLIDATION SUPPORT -- WORTHINGTON AND VALE REVERSE NEAR KEY RETRACEMENTS -- RETAIL SPDR CATCHES FIRE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAP FINANCIALS ETF RECAPTURES KEY MOVING AVERAGE... Link for today's video. Yesterday I noted that the Consumer Discretionary SPDR moved back above its short-term support break. The Finance SPDR (XLF) also joined with a surge back above 22.50 over the last few days. As with XLY, the...   READ MORE 

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NASDAQ Breaks Out from a Broadening Formation

by Martin Pring,

President, Pring Research

* Bottom Fisher goes bullish. * Bonds continue to break to the upside. * Dollar Index due for a pause. * Watch $27.50 and $130 on the GDX and the GLD. US Equities The Pring Bottom Fisher market indicator (!PRBFISH), shown in the lower window of Chart 1 (and discussed in more detail...   READ MORE 

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BIG TECH SHOWS RELATIVE STRENGTH AS SMALL TECH ATTEMPTS BREAKOUT -- INTERNET ETF BREAKS OUT AS CLOUD COMPUTING ETF CHALLENGES RESISTANCE -- YAHOO! CHALLENGES RESISTANCE AS VM WARE BREAKS PENNANT

by John Murphy,

Chief Technical Analyst, StockCharts.com

BIG TECH SHOWS RELATIVE STRENGTH AS SMALL TECH ATTEMPTS BREAKOUT ... Link for today's video. The Nasdaq 100 ETF (QQQ) continues to lead the major index ETFs with another new high. Not many ETFs are trading at or above their July highs right now. QQQ shows both chart strength...   READ MORE 

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UKRAINE TENSION ON FRIDAY STALLS MARKET RALLY -- NASDAQ IS ONLY INDEX TO CLEAR 50-DAY AVERAGE -- DAILY MACD LINES FOR S&P 500 IMPROVE -- BUT WEEKLIES HAVEN'T -- BOND YIELD PLUNGE HAS MORE TO DO WITH WEAKNESS IN EUROPE THAN U.S.

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ LEADS MARKET HIGHER... The Nasdaq market led this week's stock market rebound (gaining 2.15%). Chart 1 shows the Nasdaq Composite Index ending the week well above its 50-day average, and within striking distance of its July peak. So far, the Nasdaq is the only major U....   READ MORE 

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SETTING FIRST SUPPORT FOR SPY BOUNCE -- TREASURIES SURGE ON TAME PPI -- GOLD REVERSES COURSE ON GEOPOLITICAL TENSIONS -- URANIUM ETF SURGES OFF SUPPORT -- CAMECO LEADS URANIUM ETF HIGHER -- AD LINE AND AD VOLUME LINE REVERSE SHORT-TERM DOWNTRENDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SETTING FIRST SUPPORT FOR SPY BOUNCE... Link for today's video. Stocks opened strong and then sold off on reports suggesting an escalation of tensions in Ukraine - at least that was reasoning in the financial media. As of noon, the S&P 500 SPDR (SPY) was trading...   READ MORE 

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$SPX BOUNCES OFF THE PRIMARY TREND ON THE MONTHLY CHARTS -- $SPX 30 WEEK MA HAS BEEN SOLID SUPPORT FOR 20 MONTHS -- CHANGE IN $SPX SLOPE DEFINES THE NEXT TEST -- $SPX TESTS BOTH THE 20 DMA AND 50 DMA FROM BELOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

$SPX BOUNCES OFF THE PRIMARY TREND ON THE MONTHLY CHARTS... With the bounce off last weeks lows, we have moved back above the monthly trend off the 2011-2012 lows on the S&P 500 ($SPX). This level also coincides with some moving averages on shorter time frames. The confluence...   READ MORE 

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Oversold Condition Should generate a Short-term US Equity Rally as Part of an Overall Topping Process

by Martin Pring,

President, Pring Research

* Bottom Fisher indicator may be close to an upside reversal. * If the rally develops watch the value Line Arithmetic for an indication of its resilience. * Gold shares may be about to break to the upside. (Click here for a video version of this article.) US Equities Last week the NYSE...   READ MORE 

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Oversold Condition Should generate a Short-term US Equity Rally as Part of an Overall Topping Process (Video)

by Martin Pring,

President, Pring Research

(Click here for the written version of this article.)...   READ MORE 

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FINANCE SECTOR BOUNCES OFF KEY RETRACEMENT -- GOLD MINERS ETF GETS A BULLISH MOMENTUM SIGNAL -- SMALL-CAP BREADTH IMPROVES -- HIGH-LOW LINE LINES REMAIN NEGATIVE -- USING THE VIX TO TIME A MARKET BOUNCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SECTOR BOUNCES OFF KEY RETRACEMENT... Link for today's video. The Finance SPDR (XLF) is showing some relative strength early Tuesday with a modest advance. Chart 1 shows XLF hitting the 50% retracement in late July and firming for seven days. This firmness turned to buying pressure the...   READ MORE 

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SMALL-CAPS START SHOWING RELATIVE STRENGTH -- TREND, SETUP AND TRIGGER FOR IWM -- XRT BREAKS RESISTANCE ZONE -- SOCIAL MEDIA ETF FORMS BULLISH CONTINUATION PATTERN -- COAL STOCKS TURN INTO MARKET LEADERS -- XME BREAKS RIM RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS SHOW A LITTLE RELATIVE STRENGTH ... Video note: I am on the road today and there is no video for Monday. Video will return on Tuesday when I get back to the office. Even though it is just one week, small-caps are starting to show relative strength by outperforming. Note...   READ MORE 

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QQQ REMAINS THE LONE HOLD OUT -- IGN AND XSD HOLD SUPPORT BREAKS -- MARKETVECTORS RETAIL ETF BREAKS DOWN, BUT XRT HOLDS FIRM -- MEDIA AND LEISURE ETFS WEIGH ON CONSUMER DISCRETIONARY -- GOLD IGNORES DOLLAR WITH SURGE ABOVE 1300

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ REMAINS THE LONE HOLD OUT... Link for today's video. The Russell 2000 iShares (IWM) peaked in early July and fell the last five weeks. The S&P 500 SPDR (SPY) held out, but succumbed to selling pressure in late July and broke first support. The Nasdaq...   READ MORE 

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CONSUMER STAPLES (XLP) BECOMES THE STRONGEST SECTORS ON THE WEEK -- UTILITIES (XLU) CONTINUE TO UNDER PERFORM -- COMPLIMENTING SECTOR PERF CHARTS WITH RELATIVE ROTATION GRAPHS -- THE ENERGY SECTOR MOVES INTO THE WEAKENING QUADRANT

by John Murphy,

Chief Technical Analyst, StockCharts.com

CONSUMER STAPLES (XLP) BECOMES THE STRONGEST SECTOR OF THE WEEK... Since August 1, the Sector SPDR Consumer Staples (XLP) has really surged. It has become the top sector on the week. Notice the box in the bottom right of Chart 1 says 6 days. On Chart 2, XLP is now...   READ MORE 

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THE DOW AND S&P 500 ARE TESTING THEIR 200 AND 100-DAY MOVING AVERAGES RESPECTIVELY -- RUSSELL 2000 AND EUROZONE ISHARES NEAR SUPPORT AT SPRING LOWS -- OVERSOLD HIGH YIELD BOND ETF IS ALSO TESTING 200-DAY AVERAGE -- SEE YOU IN SEATTLE

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW IS TESTING 200-DAY LINE ... The Dow Industrials have already reached their 200-day moving average. At the same time, the 14-day RSI line (above chart) has reached a short-term oversold reading at 30. This is an important test for the Dow and the rest of the market. Chart 2 shows...   READ MORE 

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INTERNET ETF CONSOLIDATES AT MOMENT-OF-TRUTH -- GOOGLE TESTS SUPPORT AS YAHOO STALLS AT RESISTANCE -- A SHIFT IN SENTIMENT TOWARDS UTILITIES -- THREE UTILITIES ETFS BREAK SUPPORT -- OIL BREAKS LONG-TERM SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

INTERNET ETF CONSOLIDATES AT MOMENT-OF-TRUTH ... Chart 1 shows the Internet ETF (FDN) advancing to the 62% retracement and consolidating with a triangle. This is a make-or-break level for the ETF. A triangle after an advance is typically a bullish continuation pattern. As such, a break above the upper trend line...   READ MORE 

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Equities Continue to Show Long-term Deterioration

by Martin Pring,

President, Pring Research

* Value Line Arithmetic violates key uptrend line. * Introducing the Bottom Fisher, but unfortunately not the bottom! * Stock/bond ratio at the brink. * 5-year yield between two key converging trend lines. * Gold/stock ratio on the verge of an upside breakout. US Equities The bullish seasonal end of the month period...   READ MORE 

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FINANCE SPDR TESTS THE MAY BREAKOUT -- MORGAN STANLEY AND JP MORGAN TESTS KEY SUPPORTS -- THREE IMPROVING INDUSTRY GROUPS ON RRG -- REGIONAL BANK SPDR HEADS FOR MAJOR SUPPORT TEST -- METALS & MINERS SPDR FORMS BIG BULLISH CONTINUATION PATTERN

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SPDR TESTS THE MAY BREAKOUT... Link for today's video. The Finance SPDR (XLF) got slammed last week and broke first support in the 22.50 area. Will it continue lower and drag the market down? Or, will XLF firm and resume the bigger uptrend. Here's...   READ MORE 

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GERMANY LEADS REST OF THE WORLD INTO DOWNSIDE CORRECTION -- A LOT OF MOVING AVERAGES HAVE BEEN BROKEN -- BOND YIELDS FALL AT WEEK'S END -- RISING DOLLAR HAS CONTRIBUTED TO COMMODITY SELLOFF -- % NYSE STOCKS ABOVE 50 AND 200-DAY AVERAGES PLUNGES

by John Murphy,

Chief Technical Analyst, StockCharts.com

GERMAN DAX FALLS BELOW 200-DAY AVERAGE... My last two messages warned that weakness in the Eurozone threatened the global rally in stocks, including the U.S. Not surprisingly, this week's plunge in Europe finally had a negative impact on most other developed markets. Chart 1 shows EMU iShares...   READ MORE 

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USING RSI TO TIME A BOUNCE IN THE S&P 500 -- KEY LEVELS FOR SMALL AND MID-CAP ETFS -- AUGUST SEASONAL PATTERNS ARE NEGATIVE FOR STOCKS -- SEASONAL PATTERNS DO FAVOR A STOCK ALTERNATIVE THOUGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING RSI TO TIME A BOUNCE IN THE S&P 500... Link for today's video. The S&P 500 finally came under selling pressure to join small-caps and mid-caps with a pullback. The S&P 500 was down 2% on Thursday, which was the sharpest...   READ MORE 

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Can a Weakening Stock Market take Advantage of the Bullish End-of-the-month Seasonal? (video)

by Martin Pring,

President, Pring Research

Click here for the printed version of this article....   READ MORE 

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THE DOW ENDS THE MONTH ON A WEAK NOTE -- $SPX FALLS STRAIGHT THROUGH ITS 50 DMA -- THE RUSSELL 2000 ($RUT) TOUCHES THE 200 DMA AGAIN -- RUSSELL 2000 ($RUT) SHOWS SIMILARITIES TO 2011 -- TECH NAMES FAIL TO MAKE PROGRESS AFTER EARNINGS

by John Murphy,

Chief Technical Analyst, StockCharts.com

THE DOW ENDS THE MONTH ON A WEAK NOTE... The Dow Jones Industrial Average ($INDU) tested the 50 DMA yesterday on Chart 1. Today it failed to hold above it and spent all day below the commonly watched average and closed on the low of the day, week and month....   READ MORE 

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Can a Weakening Stock Market Take Advantage of the Bullish End-of-the-month Seasonal?

by Martin Pring,

President, Pring Research

* Breadth continues to deteriorate following Special K sell signal for the NYSE Composite. * Bonds are likely to violate an important up trendline. * Gold and commodities may be about to reverse their recent declines. (Click here for the video version of this article.) US Equities The US equity market has not...   READ MORE 

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EUZOZONE CURRENCY AND STOCKS REMAIN UNDER PRESSURE -- GERMAN ISHARES SLIP BELOW 200-DAY LINE -- RECORD LOW BOND YIELDS IN EUROPE ARE PULLING TREASURY YIELDS LOWER -- UPTURN IN DOLLAR SHOULD LIMIT GAINS IN GOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

EUROZONE REMAINS UNDER PRESSURE... The Eurozone has been under a lot of pressure lately as reflected in the falling Euro and stock prices. That downside pressure may increase with this week's announcement of more sanctions imposed on Russia. Eurozone countries are the most vulnerable to growing tensions in...   READ MORE 

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SECTORS REFLECT MIXED MARKET -- XLI AND XLY FORM CORRECTIVE PATTERNS -- BROKER-DEALER INDEX EXCEEDS PRIOR HIGH -- SCHWAB LEADS ETRADE AND TD AMERITRADE -- A BIG WEEK FOR TREASURY BONDS AND YIELDS -- 10-YR TREASURY YIELD STALLS NEAR OCTOBER LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

SECTORS REFLECT MIXED MARKET... Link for today's video. The stock market as a whole has been quite mixed over the past month. Note that the S&P 500 SPDR (+1%) and Nasdaq 100 ETF (+3.3%) are up month-to-date, but the Russell 2000 iShares (-3.5%) and...   READ MORE 

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RETAIL ETFS TEST IMPORTANT SUPPORT LEVELS -- COAL AND STRATEGIC METALS FOLLOW CHINESE STOCKS HIGHER -- MAJORITY OF SMALL AND MID CAPS ARE BELOW THEIR 50-DAY EMAS -- BUT THE MAJORITY OF LARGE CAPS ARE ABOVE THEIR 50-EMAS

by John Murphy,

Chief Technical Analyst, StockCharts.com

RETAIL ETFS TEST IMPORTANT SUPPORT LEVELS... Link for today's video. The Retail SPDR (XRT) and the MarketVectors Retail ETF (RTH) are still in uptrends, but both are testing important support levels that hold the key to these uptrends. Chartists should watch these two closely because breakdowns would be...   READ MORE 

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Birth of the Cool: A New Bull Market for Chinese Equities?

by Martin Pring,

President, Pring Research

* Shanghai breaks bear market trendline and takes the FXI with it. * Long-term relative action suggests the FXI is no longer a world laggard, but a leader instead. * Shanghai correlation with commodities argues for higher commodity prices in general. * Chinese materials, real estate and energy ETF’s break to the upside....   READ MORE 

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SMALL CAP/ LARGE CAP DIVERGENCE IS WORST IN THREE YEARS -- HIGH YIELD BOND WEAKNESS MAY ALSO BE CAUTION SIGNAL FOR STOCKS -- CHINA LEADS EMERGING MARKET BREAKOUT WHICH BOOSTS BASE METALS -- EUROZONE WEAKENS ON GLOBAL TENSIONS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL CAP DIVERGENCE IS TROUBLING... Although the U.S. stock market has shown impressive resilience over the past few months, there are some troubling signs beneath the surface. One is the negative divergence between small caps and large caps. Since March 5, the S&P 500 Large Cap Index...   READ MORE 

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LARGE-CAPS DO THEIR PART -- HERE'S WHAT TO WATCH IN SMALL AND MID CAPS -- BROAD MARKET HIGH-LOW LINE CONTINUES HIGHER -- SMALL-CAP HIGH-LOW INDICATOR REMAINS IN CORRECTIVE MODE -- SEMICONDUCTOR ETF BREAKS DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

LARGE-CAPS CONTINUE TO DO THEIR PART... Link for today's video. The S&P 500 SPDR (SPY) continued its uptrend with a move above the upper trend line of a pennant and a new high this week. Technically, a pennant within an uptrend is a bullish continuation pattern...   READ MORE