$SPX BREAKS THROUGH TO A 50 YEAR RECORD... The S&P 500 ($SPX) recorded its 81st week since touching the 200 DMA back in 2012. This is the longest streak surpassing both the 1986 and the 1965 streak of 80 weeks. Pretty amazing. This chart shows some of the... READ MORE
* More signs of an intermediate peak in the bond market. * Dollar Index is now overbought. * Gold and gold shares are down, but not yet out. * Commodities continue to struggle at key short-term support. US Equities The short-term uptrend remains intact but is becoming overextended. You can see this from the... READ MORE
WILL THE STRONGEST SECTOR IN THE FIRST HALF REPEAT?... Link for today's video. The utilities sector is the strongest of the nine sectors so far this year. This is true for the sector SPDRs, which are weighted by market cap, and the equal-weight sector ETFs. Chart 1 shows... READ MORE
BASE METALS ETF FORMS REVERSAL PATTERN... Video will be posted soon. The Base Metals ETF (DBB) continues to challenge resistance as an inverse head-and-shoulders pattern takes shape. I featured DBB last week and showed the strong correlation to copper. Today, I would like to expand on DBB by looking at... READ MORE
NASDAQ AND RUSSELL 2000 CHARTS TURN POSITIVE... This week's strong chart action in the Nasdaq market and small caps has lent more support to large cap stock indexes that have been setting new record highs. Chart 1 shows Powershares QQQ Trust breaking out to a new recovery high... READ MORE
* US Equity market trend is still positive but more cracks appearing. * Bond rally may well be over, but confirmation is needed. * Dollar Index rally likely to extend. * More base building in the gold market is likely. (Click here for the narrated video version of this article) US Equities Last week... READ MORE
THE MAJORITY RULES FOR THE MAJOR INDEX ETFS... Link for today's video. The Russell 2000 ETF (IWM), Russell MicroCap iShares (IWC) and S&P SmallCap iShares (IJR) are underperforming and well below their March highs, but they are the minority and may be poised to play catch-up.... READ MORE
THE EURO SLINGSHOTS HIGHER ON MAJOR ECB ANNOUNCEMENTS... The Euro ($XEU) traded in a wide range this morning after the ECB announced strategy changes on monetary policy. While the majority of changes had been leaked to the market in advance, the Euro still reacted with a big 1.7 cent... READ MORE
CHIPS CONTINUE TO EXCEL... Last Wednesday's message showed the Market Vectors Semiconductor ETF (SMH) moving up to challenge its 2014 highs. It has since broken out to the highest level in fourteen years. Chart 1 shows the PHLX Semiconductor iShares (SOXX) doing the same. I'm switching... READ MORE
MACD MAKES A KEY CROSS FOR THE AUTO INDEX... Link for today's video. I featured the DJ US Auto Index on May 20th as a large consolidation formed and the MACD line flattened. Auto stocks are getting a boost today after Chrysler, which is owned by Fiat (FIATY)... READ MORE
RELATIVE WEAKNESS IN KEY GROUPS UNDERMINES MARKET... Link for today's video. The S&P 500 and Dow Industrials notched new highs yet again, but the Russell 2000 remains well below its spring highs and continues to lag. Chart 1 shows the Russell 2000 in red and the... READ MORE
DOLLAR BOUNCE IS TIED MAINLY TO EURO DROP... When studying the trend of the U.S. Dollar Index, it's a good idea to study the trend of the Euro as well. That's because the Euro has the biggest influence on dollar direction (57%). [The Japanese yen... READ MORE
$TRAN SOARS WITH TRUCKING, AIRLINES AND RAILS ALL IN GEAR... The Dow Jones Transportation Index ($TRAN) has clearly broken out to new highs as shown in Chart 1. There are three sub-indexes that make up the Transportation Index; Airlines ($DJUSAR), Rails ($DJUSRR) and Trucking ($DJUSTK). All three sub-indexes have soared... READ MORE
* S&P Breaks to a new high, but leaves a lot to be desired. * Bond rally intact but getting overstretched. * Dollar Index is breaking to the upside. * Euro experiences a double whipsaw breakout. * Gold violates a key support trend line. * Commodities face an important test of the bull market... READ MORE
THE S&P 500 MAKES A NEW HIGH. ... The S&P 500 ($SPX) shown in Chart 1 is climbing to a new intraday high for the third day in a row. This new high is supported by the French ($CAC) and German ($DAX) markets also making new highs... READ MORE
EEM STILL TESTING TRENDLINE RESISTANCES... My May 18 message suggested that emerging markets might be approaching an important upside breakout. The weekly bars in Chart 1 show the Emerging Markets iShares (EEM) still testing the upper resistance line in three-year symmetrical triangle. A decisive close above that resistance line is... READ MORE
S&P 1500 ETF FORMS BULLISH CONTINUATION PATTERN... Link for today's video. The head-and-shoulders pattern can be a reversal pattern or a continuation pattern. The difference depends on the price movement preceding the pattern. There are two types of head-and-shoulders patterns: normal and inverse. The direction of... READ MORE
HOMEBUILDERS BOUNCE ... A bigger than expected rise in April new home sales gave a big boost to homebuilding stocks at week's end. And it couldn't have come at a better time. Chart 1 shows the Dow Jones U.S. Home Construction iShares (ITB) climbing more than... READ MORE
IS THE RUSSELL 2000 WAGGING THE RUSSELL 1000?... Link for today's video. There has been a lot of talk about relative weakness in the Russell 2000 and small-caps over the last few weeks. While relative weakness in small-caps is a concern, we should not read too much into... READ MORE
* The line of least resistance for global and US equities looks to be an upward one. * The overstretched short-term condition argues against taking undue risks. * Bond rally is showing signs of tiredness. * The commodity correction may be over. (Click here for the video version of this article) First, I would... READ MORE
CONSUMER CYCLICALS COMING INTO A STRONG SEASONAL BIAS... John did an indepth view of energy yesterday, and Arthur did an in depth view of the 5 major technology groups on Monday. Some of the price action I have seen this week is pointing towards some strength in Cyclicals. We will... READ MORE
BRENT AND LIGHT CRUDE OIL FUTURES HIT NEW HIGHS... A government report showing a big drop in oil inventories last week has pushed oil prices to new highs. Chart 1 shows July Light Crude Oil closing climbing 1.74 today to trade at a new contract high near 1.04.... READ MORE
Hello Stockchart Subcribers! My name is Martin Pring and I’m very excited to be joining the team at StockCharts.com! For those of you who may not be familiar with my work, I have been providing research to the international investment community since 1968. My professional analysis career was... READ MORE
MARKING KEY LEVELS FOR SPY AND QQQ BREADTH INDICATORS... Link for today's video. The breadth indicators for the Nasdaq 100 ETF and S&P 500 SPDR hit new highs this month and have yet to break down. Small-caps may be lagging and momentum names may be down... READ MORE
NASDAQ TURNS DULL AS BOLLINGER BANDS CONTRACT ... Link for today's video. The Technology SPDR (XLK) held up much better than the Nasdaq over the last few months and the performance contrast is quite stark. Chart 1 shows XLK challenging its early April high, while chart 2 shows the... READ MORE
COMPARISON OF GLOBAL STOCK INDEXES ... While U.S. stocks are starting to struggle on fears of high valuation, some money is starting to flow into foreign stocks that show better value. Chart 1 shows the S&P 500 doing better than foreign developed and emerging markets since the October... READ MORE
* Japanese Equities May be on the Verge of a Major Breakdown. * Yen Close to an Unexpected Upside breakout? * Nikkei has led Every US Stock Market Peak Since 1990. Normally Martin Pring's Market Roundup, the PMR, will give you a short-term synopsis of the US equity and bond markets... READ MORE
QQQ AND MDY FORM BEARISH CONTINUATION PATTERNS... Bearish wedges are appearing on some key charts and chartists should watch these closely for directional clues. A bearish wedge is typically a continuation pattern that forms after a decline. Like a bear flag, bearish wedges slope up and represent a corrective bounce... READ MORE
DOW JONES INDUSTRIAL AVERAGE FAILS TO HOLD BREAKOUT LEVEL... The Dow Jones Industrial Average ($DJIA) has been the strongest of the 4 main indexes recently. On Thursday, the Dow was unable to hold its breakout level. It pushed down to the 50 Day Moving Average (50 DMA). The rally which... READ MORE
10-YEAR TREASURY YIELDS FALL TO SEVEN-MONTH LOW... Chart 1 shows the 10-Year Treasury Note Yield (TNX) falling below its early February low in today's trading. That puts the TNX at the lowest level since last October. Normally, a falling bond yield signals that investors are turning more pessimistic... READ MORE
CONSUMER DISCRETIONARY SECTOR REMAINS THE WEAKEST LINK... Link for today's video. Weakness in retailers and homebuilders weighed on the consumer discretionary sector and caused it to be the worst performing sector over the last three months. PerfChart 1 shows performance for the nine sectors since February 12th (three... READ MORE
QQQ CHALLENGES RESISTANCE AS IWM SURGES OFF SUPPORT... Link for today's video. The market surged on Monday with the Dow Industrials hitting a new high and the S&P 500 challenging its early April high. Despite a new high in the Dow, today's big story... READ MORE
DOW AND S&P 500 END WEEK NEAR OLD HIGHS ... Today's message reads like a tale of two markets. Large cap blue chip indexes turned in a good week and are near record highs. Chart 1 shows the Dow Industrials bouncing off their 50-day average on Wednesday... READ MORE
S&P 500 AD LINE HITS NEW HIGH... Link for today's video. The market remains split with large-caps holding up well since early March and small gaps moving lower the last two months. Mid-caps are caught somewhere in the middle and may ultimately tip the balance. Chart... READ MORE
$NDX BULLISH PERCENT TURNS UP... The Nasdaq Exchange has been one of the hardest hit in the latest downturn. While the Dow Jones Industrial Average ($INDU) was hitting new highs and the S&P 500 ($SPX) kept retesting the 1885 level, the Nasdaq Composite ($COMPQ) kept dropping as shown... READ MORE
TREASURY YIELD AND DOLLAR REMAIN WEAK... Treasury bond yields continue to weaken. Chart 1 shows the 10-Year Treasury Note Yield ($TNX) trading below its 50- and 200-day moving averages and just a couple of tics above its early February low. A drop below that earlier level would put the TNX... READ MORE
SEMICONDUCTOR SPDR TESTS SUPPORT AS QQQ HITS RESISTANCE... Link for today's video. As noted in prior commentaries, there is a certain dichotomy at work among the ETFs and indices in the stock market. For example, the Nasdaq and Russell 2000 are bouncing off support, but the S&... READ MORE
S&P 500 AND DOW CONSOLIDATE AT RESISTANCE... Link for today's video. The S&P 500 and Dow Industrials are the two strongest indices in the stock market, but both are hitting resistance and stalling the last few days. Chart 1 shows the S&P... READ MORE