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MACD MAKES A KEY CROSS FOR THE AUTO INDEX -- FORD LEADS GM WITH BREAKOUT -- HONDA CONFIRMS PIERCING PATTERN AS TOYOTA BREAKS TREND LINE -- 10-YR TREASURY YIELD SPRINGS BACK ABOVE KEY LEVEL -- FINANCE SPDR BREAKS ABOVE RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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RELATIVE WEAKNESS IN KEY GROUPS UNDERMINES SMALL-CAPS -- RETAIL SPDR BOUNCES OFF SUPPORT ZONE -- REGIONAL BANK SPDR BREAKS WEDGE TREND -- PEABODY BREAKS DOWN, BUT CONSOL HOLDS STRONG -- COAL ETF FAILS TO HOLD BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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FALLING EURO BOOSTS THE DOLLAR -- ECB THURSDAY ANNOUNCEMENT SHOULD DETERMINE EURO DIRECTION AS IT TESTS 200 DAY AVERAGE -- FALLING TREASURY BOND YIELDS ARE PART OF GLOBAL RETREAT -- BOUNCING DOLLAR CAUSES PROFIT-TAKING IN COMMODITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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$TRAN SOARS WITH TRUCKING, AIRLINES AND RAILS ALL IN GEAR -- $NAHL DIPS BELOW BULL MARKET TREND -- $NYHL STAYS IN BULL MARKET TREND -- $SILVER CONTINUES TO PUSH DOWN ON THE BOTTOM RIGHT -- $GOLD LOOKS TO RETEST ANNUAL LOWS IN JUNE

by John Murphy,

Chief Technical Analyst, StockCharts.com

$TRAN SOARS WITH TRUCKING, AIRLINES AND RAILS ALL IN GEAR... The Dow Jones Transportation Index ($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 

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Will the Dollar Index Surprise on the Upside?

by Martin Pring,

President, Pring Research

* 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 

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$SPX MAKES ANOTHER NEW HIGH -- $COMPQ TESTS RIGHT SHOULDER LEVEL -- $NDX TESTS MARCH 6 HIGHS -- $INDU HOLDS ABOVE 16600 -- $RUT IS AT A MAJOR SUPPORT/RESISTANCE LINE -- APPLE BUYS BEATS FOR $3B, SPLITS STOCK, WWDC NEXT WEEK

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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EMERGING MARKET ISHARES TEST OVERHEAD RESISTANCE -- WHILE TAIWAN ISHARES REACH A NEW RECORD -- EAFE ISHARES NEAR TEST OF 2007 HIGHS -- WHILE GERMANY ISHARES HIT NEW RECORD -- JAPAN STOCKS CONSOLIDATE WITHIN UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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S&P 1500 ETF FORMS BULLISH CONTINUATION PATTERN -- WATCHING SMALL-CAP BREADTH INDICATORS FOR A BREAKOUT -- TECH AND CONSUMER DISCRETIONARY BPIS TURN UP -- GOOGLE TRIGGERS P&F BREAKOUT -- FACEBOOK REMAINS ON SELL SIGNAL

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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HOMEBUILDER BOUNCE LED BY DR HORTON AND LENNAR -- NASDAQ SHOWS IMPROVEMENT -- BIG CAP TECH STOCKS PUSH TECHNOLOGY SPDR TO NEW HIGH -- TECH LEADERS INCLUDE HPQ, CISCO, ORACLE, VERIZON, AND APPLE -- APPLE HAS BIGGEST INFLUENCE ON TECH SECTOR

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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IS THE RUSSELL 2000 WAGGING THE RUSSELL 1000? -- TRANSPORTS AND AIRLINES CONTINUE SHOWING RELATIVE STRENGTH -- JETBLUE RECOVERS AFTER SUPPORT BREAK -- UNITED FIRMS AFTER SHARP DECLINE -- SHORT-TERM YIELDS DIVERGE FROM LONG-TERM YIELDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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No Sell Signal for Equities...Yet!

by Martin Pring,

President, Pring Research

* 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 

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No Sell Signal for Equities...Yet! (VIDEO)

by Martin Pring,

President, Pring Research

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CONSUMER CYCLICALS COMING INTO A STRONG SEASONAL BIAS -- CONSUMER CYCLICALS RELATIVE STRENGTH STARTS TO IMPROVE -- CYCLICALS START TO OUTPERFORM CONSUMER STAPLES -- CYCLICALS START TO OUTPERFORM UTILITIES -- XLY BUILDS A MOMENTUM BASE

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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CRUDE OIL PRICES HIT CONTRACT HIGHS WHICH GIVES A BOOST TO ENERGY SHARES -- ENERGY SHARES HAVE BEEN 2014 LEADERS, BUT STILL LOOK CHEAP -- CHEVRON BOUNCES OFF CHART SUPPORT -- OCCIDENTIAL PETROLEUM NEARS BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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Hello to all the StockCharts.com Subscribers!

by Martin Pring,

President, Pring Research

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 

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MARKING KEY LEVELS FOR SPY AND QQQ BREADTH INDICATORS -- DJ AUTO INDEX FORMS LARGE CONTINUATION PATTERN -- FORD HOLDS BREAKOUT -- GM STALLS NEAR RESISTANCE -- GOLD SPDR FORMS BEARISH CONTINUATION PATTERN -- SILVER ETF STALLS NEAR WINTER LOWS

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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NASDAQ TURNS DULL AS BOLLINGER BANDS CONTRACT -- INTUIT LEADS SOFTWARE ETF HIGHER -- F5 LEADS NETWORKING ISHARES ABOVE FIRST RESISTANCE -- INTERNET ETF FIRMS AS GOOGLE BOUNCES OFF KEY MOVING AVERAGE -- ALTERA LEADS SEMICONDUCTOR SPDR WITH A GAP-BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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A COMPARISON OF GLOBAL STOCKS SHOWS UNUSUAL DIVERGENCES -- MONEY MAY BE STARTING TO ROTATE OUT OF THE U.S. INTO FOREIGN STOCKS, ESPECIALLY EMERGING MARKETS -- EMERGING MARKETS ISHARES MAY BE BREAKING OUT TO THE UPSIDE

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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Are Japanese Equities Topping Out? If so, Will US Equities be Far Behind?

by Martin Pring,

President, Pring Research

* 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 

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QQQ AND MDY FORM BEARISH CONTINUATION PATTERNS -- HOUSING STARTS AND BUILDING PERMITS TICK HIGHER -- A VOLATILITY SQUEEZE HITS THE HOME CONSTRUCTION ISHARES -- PLUNGE IN YIELDS WEIGHS ON REGIONAL BANKS AND BROKERS

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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DOW JONES INDUSTRIAL AVERAGE FAILS TO HOLD BREAKOUT LEVEL -- S&P 500 FALLS BELOW SUPPORT AS WELL -- THE NASDAQ FINDS RESISTANCE AT THE 50 DMA -- NASDAQ COMPOSITE IS PART WAY THROUGH A POTENTIAL TOPPING STRUCTURE

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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10-YEAR T-NOTE YIELD FALLS TO SEVEN MONTH LOW -- THAT'S ANOTHER NEGATIVE DIVERGENCE FOR STOCKS -- ANOTHER NEGATIVE WARNING IS THAT HIGH YIELD BONDS ARE UNDERPERFORMING TREASURIES -- SMALL CAP WEAKNESS CONTINUES TO WEIGH ON MARKET

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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CONSUMER DISCRETIONARY SECTOR REMAINS THE WEAKEST LINK -- EW CONSUMER DISCRETIONARY ETF BOUNCES OFF TREND LINE -- RETAIL ETFS SURGE TO ESTABLISH KEY SUPPORT LEVELS -- RAILROAD INDEX CONSOLIDATES WITHIN UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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QQQ CHALLENGES RESISTANCE AS IWM SURGES OFF SUPPORT -- REGIONAL BANK SPDR PLOWS THROUGH TREND LINE -- INTERNET ETF SURGES TOWARDS TREND LINE RESISTANCE -- BIOTECH ISHARES GETS A BULLISH AROON SIGNAL -- COPPER MINERS ETF FORMS BULLISH REVERSAL PATTERN

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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DOW AND S&P 500 END WEEK NEAR OLD HIGHS -- WHILE WEAKER NASDAQ AND SMALL CAP INDEXES TRY TO STAY ABOVE CHART SUPPORT -- STRONGER HOMEBUILDERS WOULD MAKE MS. YELLEN FEEL BETTER -- TREASURY YIELDS AND THE DOLLAR BOUNCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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S&P 500 AD LINE HITS NEW HIGH -- S&P MIDCAP SPDR STALLS WITH RISING WEDGE -- S&P SMALLCAP ISHARES CHANNELS LOWER -- FINANCE SECTOR BULLISH PERCENT INDEX SURGES -- PRUDENTIAL TRIGGERS P&F BUY SIGNAL -- THE YIELD CURVE REMAINS POSITIVE AND STEEP

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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$NDX BULLISH PERCENT TURNS UP -- OTHER INTERNAL NASDAQ INDICATORS REACH SELLING REVERSAL LEVELS -- THE 50:200 RATIO ALSO SUGGESTS WE ARE NEAR THE LOWS -- TIME SPAN FOR MARKET PULLBACK IS SIMILAR -- THE HIGH FLYERS ARE STILL DRIFTING

by John Murphy,

Chief Technical Analyst, StockCharts.com

$NDX BULLISH PERCENT TURNS UP... The Nasdaq Exchange has been one of the hardest hit in the latest downturn. While the Dow Jones Industrial Average ($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 

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FALLING TREASURY YIELDS AND A WEAKER DOLLAR ARE HELPING BOOST EMERGING MARKET BONDS, CURRENCIES, AND STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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SEMICONDUCTOR SPDR TESTS SUPPORT AS QQQ HITS RESISTANCE -- CONSUMER DISCRETIONARY SPDR STALLS AT RESISTANCE -- MATERIALS SPDR GOES FOR DIAMOND BREAKOUT -- HEALTHCARE PROVIDERS ETF BOUNCES NEAR KEY RETRACEMENT

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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S&P 500 AND DOW CONSOLIDATE AT RESISTANCE -- RUSSELL 2000 AND THE NASDAQ TRIANGULATE NEAR SUPPORT -- JP MORGAN FOLLOWS BANK OF AMERICA WITH A GAP DOWN -- FINANCE SECTOR TESTS WEDGE TREND LINE -- INSURANCE ROCKS, WHILE REGIONAL BANKS FAIL

by John Murphy,

Chief Technical Analyst, StockCharts.com

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 

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HOMEBUILDERS MAY BE GETTING A LIFT FROM STRONGER LUMBER PRICE AND FALLING BOND YIELDS -- A DOLLAR BREAKDOWN WOULD FAVOR FOREIGN MARKETS RELATIVE TO THE U.S. -- EURO IS TESTING MAJOR TRENDLINE RESISTANCE WHILE THE POUND HITS FIVE-YEAR HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOUNCE IN LUMBER MAY HELP HOMEBUILDERS... My April 23 message showed the Dow Jones U.S. Home Construction iShares (ITB) testing support at its 200-day moving average. The homebuilding ETF bounced off that support line this week (see circle). A weak housing sector has been a drag on the economy...   READ MORE 

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EQUAL-WEIGHT S&P 500 ETF CONSOLIDATES WITHIN UPTREND -- HOME CONSTRUCTION ISHARES BOUNCES WITHIN WEDGE -- DR HORTON, LENNAR AND US GYPSUM LIFT HOMEBUILDER GROUP -- DEFINING THE SECULAR TRENDS FOR THE S&P 500 AND NASDAQ 100

by John Murphy,

Chief Technical Analyst, StockCharts.com

EQUAL-WEIGHT S&P 500 ETF CONSOLIDATES WITHIN UPTREND... Link for today's video. What a boring week. The Fed policy statement came and went. The bulk of earnings have come and gone. A slew of economic reports hit the wires. The employment report has come and gone. We...   READ MORE 

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MARKETS PAUSE AFTER DOWS NEW CLOSING HIGH ON WEDNESDAY -- $SPX CLOSES WITH A SPINNING TOP -- 30 YEAR BOND YIELD CONTINUES TO MOVE LOWER -- THE TEN YEAR YIELD IS STILL IN A TRADING RANGE -- EUROPE TOP 100 CLOSES ON THE HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKETS PAUSE AFTER DOWS NEW CLOSING HIGH ON WEDNESDAY... While it is possible to come out of the fed meetings with a quiet market result, today was very quiet on the equity markets. This could be due to many nations having a holiday today, or investors still analyzing their positions....   READ MORE 

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FED CONTINUES ITS TAPERING WITH NO SURPRISES -- DOW AND S&P 500 NEAR RECORD HIGHS -- VALUE STOCKS CONTINUE TO LEAD, BUT GROWTH STOCKS ARE STARTING TO RECOVER -- BIOTECHS, INTERNET, AND DISCRETIONARY INDEXES ARE FINDING SUPPORT NEAR 200-DAY LINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW AND S&P 500 NEAR RECORD HIGHS... Today's Fed announcement slashed another 10 billion from its monthly bond purchases as expected, and contained no surprises. In addition, first quarter GDP growth was basically flat. Despite that, stocks continued their recent bounce. Charts 1 and 2 show...   READ MORE 

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SLIGHT BULLISH DIVERGENCE FORMS IN AD LINE FOR XLY -- HOME CONSTRUCTION AND RETAIL HOLD THE KEY TO XLY -- BOLLINGER BAND CONTRACTION HITS COAL ETF -- BTU, CNX AND JOYG LEAD COAL INDUSTRY -- METALS & MINERS SPDR FORMS BULLISH CONTINUATION PATTERN

by John Murphy,

Chief Technical Analyst, StockCharts.com

SLIGHT BULLISH DIVERGENCE FORMS IN AD LINE FOR XLY... Link for today's video. The Consumer Discretionary SPDR (XLY) led the way lower from early March to mid April and underperformed the broader market during this timeframe. Relative weakness in the most economically sensitive sector is negative overall, but...   READ MORE 

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AN INFLECTION POINT FOR TREASURIES (AND MAYBE STOCKS) -- GOLD TRACES OUT A BIG CONTINUATION PATTERN -- SILVER WALLOWS NEAR SUPPORT ZONE -- GOLD AND SILVER MINING ETFS BOUNCE NEAR KEY RETRACEMENTS -- SHANGHAI COMPOSITE EXTENDS SERIES OF LOWER HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

AN INFLECTION POINT FOR TREASURIES (AND MAYBE STOCKS)... Link for today's video. This week could mark an inflection point for Treasury bonds because the Fed makes its policy statement on Wednesday and the economic docket is overflowing with reports. The fundamentals alone do not make for the inflection...   READ MORE 

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NASDAQ LEADS THE MARKET LOWER -- BIOTECH AND INTERNET STOCKS NEAR TEST OF 200-DAY AVERAGES -- MARKET VECTORS SEMICONDUCTOR ETF PLUNGES 3% ON FRIDAY TO LEAD TECH DECLINE -- SECTOR ALIGNMENT REMAINS DEFENSIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ RALLY ATTEMPT MAY BE FAILING... The Nasdaq lost -1.75% on Friday to lead the market lower once again. The relative strength line (top of Chart 1) shows the Nasdaq/S&P 500 ratio peaking at the start of March and falling to the lowest level in eight...   READ MORE 

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LOWER HIGHS EXTEND FOR IWM AND QQQ -- HOW IS THE S&P 500 EVEN UP THIS YEAR? -- CHARTING THE RELATIVE BULLISH PERCENT INDEX -- RELATIVE BPI'S FOR UTILITIES AND STAPLES REMAIN STRONG -- RELATIVE BPI'S BREAK DOWN IN TECH AND CONSUMER DISCRETIONARY

by John Murphy,

Chief Technical Analyst, StockCharts.com

LOWER HIGHS EXTEND FOR IWM AND QQQ... Link for today's video. Selling pressure hit small-caps and techs hard in early trading on Friday. With further weakness over the last few days, the Russell 2000 ETF (IWM) and Nasdaq 100 ETF (QQQ) are poised to extend their string of...   READ MORE 

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$SPX AND $INDU TEST RESISTANCE AGAIN -- $COMPQ CREATES A GARDEN HOSE PATTERN -- $NIKK AND $TNX CONTINUE TO TRACK -- CONSUMER STAPLES ETF MAKES NEW 52 WEEK HIGHS -- AAPL GRAPPLES WITH CASH MOUNTAIN, SPLITS SHARES -- FB CONTINUES MOBILE AD REVENUE GROWTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

$SPX AND $INDU TEST RESISTANCE AGAIN... The $SPX shown in the 60 minute view on Chart 1 pushed above 1884 this week and settled back on Wednesday. This morning the market surged higher on the back of great numbers from AAPL and FB. This is an extremely important place on...   READ MORE 

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FALLING BOND YIELDS ARE BOOSTING REITS, BUT HAVEN'T HELPED HOMEBUILDERS -- FALLING PRICE OF LUMBER SUGGESTS WANING DEMAND FOR NEW HOMES AND MAY EXPLAIN HOMEBUILDER WEAKNESS

by John Murphy,

Chief Technical Analyst, StockCharts.com

REITS BENEFIT FROM FALLING BOND YIELDS... Previous messages have shown falling bond yields benefiting dividend-paying stocks like utilities. REITS fall under the same category, and are getting the same lift from falling bond yields. The brown bars in Chart 1 show the MSCI US REIT Index ($RMX) trading it the...   READ MORE