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Stocks Breakdown Big Time vs Commodities

Stocks Breakdown Big Time vs Commodities

Today's Market Roundup Headlines: * Stocks break down big time against commodities * IGE/XLP (Inflation/deflation ratio) breaks in favor of IGE * Brent Crude close to a major breakout * Industrial metals with the exception of copper break to the upside. * Spider Metals and Mining (XME) close to major upside...   READ MORE 

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DOW INDUSTRIALS TRACES OUT BULLISH CONTINUATION PATTERN -- TRANSPORTS CONFIRM NEW HIGH IN INDUSTRIALS -- FEDEX AND UPS POWER THE TRANSPORTS -- EXPEDITORS BOUNCES OFF VOLUME-BY-PRICE ZONE -...

DOW INDUSTRIALS TRACES OUT BULLISH CONTINUATION PATTERN -- TRANSPORTS CONFIRM NEW HIGH IN INDUSTRIALS -- FEDEX AND UPS POWER THE TRANSPORTS -- EXPEDITORS BOUNCES OFF VOLUME-BY-PRICE ZONE -- HOME CONSTRUCTION ISHARES HITS SUPPORT AGAIN

DOW INDUSTRIALS TRACES OUT BULLISH CONTINUATION PATTERN... Link for today's video. The Dow Industrials has been quite choppy over the last seven weeks, but the overall pattern looks like a cup-with-handle. Popularized by William O'Neil of Investors Business Daily, the cup-with-handle is a bullish continuation pattern,...   READ MORE 

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QQQ AND IWM BOUNCE OFF SUPPORT ZONES -- REGIONAL BANK SPDR HITS A REVERSAL ZONE -- RETAIL SPDR FIRMS AT KEY RETRACEMENT -- HIGH-LOW PERCENT TRIGGERS A BULLISH SIGNAL -- 10-YR TREASURY YIEL...

QQQ AND IWM BOUNCE OFF SUPPORT ZONES -- REGIONAL BANK SPDR HITS A REVERSAL ZONE -- RETAIL SPDR FIRMS AT KEY RETRACEMENT -- HIGH-LOW PERCENT TRIGGERS A BULLISH SIGNAL -- 10-YR TREASURY YIELD SURGES OFF SUPPORT

QQQ AND IWM BOUNCE OFF SUPPORT ZONES... Link for today's video. The Nasdaq 100 ETF (QQQ) and Russell 2000 ETF (IWM) started underperforming the S&P 500 SPDR (SPY) in March and led the market lower over the last three-to-four weeks. While relative weakness in large tech...   READ MORE 

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DOW BACK TO RESISTANCE -- OPTIONS EXPIRATION BEHAVIOUR -- STOCKS CONTINUED THE DEFENSIVE POSTURE UNTIL TODAY -- ENERGY ENERGY ENERGY ENERGY -- $NATGAS SOARS ON INVENTORY DATA -- $WTIC TEST...

DOW BACK TO RESISTANCE -- OPTIONS EXPIRATION BEHAVIOUR -- STOCKS CONTINUED THE DEFENSIVE POSTURE UNTIL TODAY -- ENERGY ENERGY ENERGY ENERGY -- $NATGAS SOARS ON INVENTORY DATA -- $WTIC TESTS RECENT HIGHS -- $BRENT BREAKS ABOVE A DOWN SLOPING TREND LINE

DOW BACK TO RESISTANCE... The Dow continued to move higher but stalled at resistance. This is our first test of resistance since the bounce. We have seen the $INDU become the strongest index which is not abnormal during a correction. We would like to see the $INDU break out to...   READ MORE 

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NASDAQ BOUNCES OFF 200-DAY AVERAGE AND HELPS STABILIZE MARKET -- SO DO SMALL CAPS AND CONSUMER DISCRETIONARY STOCKS -- UTILITY LEADERSHIP IS A CAUTION SIGN -- SO ARE UPSIDE BREAKOUTS IN CO...

NASDAQ BOUNCES OFF 200-DAY AVERAGE AND HELPS STABILIZE MARKET -- SO DO SMALL CAPS AND CONSUMER DISCRETIONARY STOCKS -- UTILITY LEADERSHIP IS A CAUTION SIGN -- SO ARE UPSIDE BREAKOUTS IN CONSUMER STAPLES AND ENERGY SHARES

NASDAQ BOUNCES OFF SUPPORT LEVELS... My last message suggested that the direction of the Nasdaq market held the key to overall market direction. That's because it led the spring selloff and was the first to test important support levels. So far those supports have held. Chart 1 shows...   READ MORE 

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NASDAQ BOUNCES SOLIDLY AT 200 DMA -- SOME DRILLERS ROCK, OTHER DRILLERS SINK -- GOLD HOLDS 1300 -- COPPER GAPS DOWN OUT OF CONSOLIDATION -- TWITTER FINALLY MAKES A REVERSAL CANDLE

NASDAQ BOUNCES SOLIDLY AT 200 DMA -- SOME DRILLERS ROCK, OTHER DRILLERS SINK -- GOLD HOLDS 1300 -- COPPER GAPS DOWN OUT OF CONSOLIDATION -- TWITTER FINALLY MAKES A REVERSAL CANDLE

NASDAQ BOUNCES SOLIDLY AT 200 DMA ... We need to spend some time here on the Nasdaq. The Nasdaq Composite bounced off the 200 DMA. After falling almost 10% exactly, the bounce off the lows was a full 2.3% reversal. For many reasons, this is a strong place to expect...   READ MORE 

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MARKETS BUILD A SMALL BASE -- COAL STARTS TO LEAD AS $NATGAS RISES -- ARCH COAL STARTS TO HEAD HIGHER -- BEBE STORES BUCKS THE CYCLICAL SECTOR TREND -- EDWARDS LIFE SCIENCES CREATES A GAP...

MARKETS BUILD A SMALL BASE -- COAL STARTS TO LEAD AS $NATGAS RISES -- ARCH COAL STARTS TO HEAD HIGHER -- BEBE STORES BUCKS THE CYCLICAL SECTOR TREND -- EDWARDS LIFE SCIENCES CREATES A GAP BREAKOUT

MARKETS BUILD A SMALL BASE... As I prepared my notes for today's message at 3 PM, the Nasdaq had fallen back into the red and the Dow had lost 120 points from the high. By the time the market closed, the $INDU closed near the highs. That is...   READ MORE 

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NOTES FROM TOP ANALYSTS, TRADERS, PORTFOLIO MANAGERS AND STRATEGISTS -- DEALING WITH OUR BIASES -- FORECASTING VERSUS REACTING -- PECKING ORDER FOR FIVE KEY ECONOMIC INDICATORS

NOTES FROM TOP ANALYSTS, TRADERS, PORTFOLIO MANAGERS AND STRATEGISTS -- DEALING WITH OUR BIASES -- FORECASTING VERSUS REACTING -- PECKING ORDER FOR FIVE KEY ECONOMIC INDICATORS

MTA TIDBITS... Today's Market Message will provide tidbits from the Market Technicians Association's annual symposium, which was held in NYC on April 3rd and 4th. The Symposium focused on the fusion of technical analysis with fundamental valuation, behavioral finance, macroeconomics and quantitative methods. It was truly...   READ MORE 

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NASDAQ AND SMALL CAPS LEAD MARKET INTO BEARISH WEEK -- DOW AND S&P 500 TURN DOWN IN HEAVY TRADING -- SECTOR ROTATION REMAINS DEFENSIVE -- CONSUMER CYCLICALS AND FINANCIALS SHOW RELATIVE WE...

NASDAQ AND SMALL CAPS LEAD MARKET INTO BEARISH WEEK -- DOW AND S&P 500 TURN DOWN IN HEAVY TRADING -- SECTOR ROTATION REMAINS DEFENSIVE -- CONSUMER CYCLICALS AND FINANCIALS SHOW RELATIVE WEAKNESS

NASDAQ LEADS WEEKLY LOSSES -- DOW HOLDS UP BEST... The relative performance of U.S. stock indexes reflects the bearish tone of the past week's action. Chart 1 shows the two biggest losers since March 1 being the Nasdaq Composite Index (-6.4%) and the Russell 2000 Small...   READ MORE 

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PRICE AND VOLUME ACTION PUSH STOCK MARKET DEEPER INTO CORRECTION -- DOW AND S&P 500 BREAK 50-DAY AVERAGES -- NASDAQ BEARS DOWN ON 200-DAY LINE AND MAY DETERMINE DEPTH OF DOWNTURN -- WEEKLY...

PRICE AND VOLUME ACTION PUSH STOCK MARKET DEEPER INTO CORRECTION -- DOW AND S&P 500 BREAK 50-DAY AVERAGES -- NASDAQ BEARS DOWN ON 200-DAY LINE AND MAY DETERMINE DEPTH OF DOWNTURN -- WEEKLY NASDAQ INDICATORS AREN'T ENCOURAGING

DOW AND S&P 500 FALL BELOW 50-DAY LINES... [Note: Although this message was posted earlier this afternoon, charts have been udpated to reflect closing prices]. The week's combination of falling prices in heavy trading is a bad combination. With small caps and the Nasdaq turning down...   READ MORE 

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SPECIAL SITUATION -- $COMPQ CONFIRMS TREND LINE BREAK -- THE $SPX CLOSES ON THE LOWER BOLLINGER BAND -- $USB 30 YEAR TREASURY IS BACK ABOVE 200 DMA

SPECIAL SITUATION -- $COMPQ CONFIRMS TREND LINE BREAK -- THE $SPX CLOSES ON THE LOWER BOLLINGER BAND -- $USB 30 YEAR TREASURY IS BACK ABOVE 200 DMA

$COMPQ CONFIRMS TREND LINE BREAK... The $COMPQ has broken the long trend line off the Dec 2012 low. After yesterdays strong push up, it backtested the trend line from the underside. From there it pushed straight down. A 3% down day is very uncommon over the last few years so...   READ MORE 

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UTILITIES AND CONSUMER STAPLES START THE MORNING -- BANKS DON'T BOUNCE -- PRECIOUS METALS TRY TO MOVE HIGHER -- $WTIC TAKES OFF FROM THE 200 DMA PLATFORM

UTILITIES AND CONSUMER STAPLES START THE MORNING -- BANKS DON'T BOUNCE -- PRECIOUS METALS TRY TO MOVE HIGHER -- $WTIC TAKES OFF FROM THE 200 DMA PLATFORM

UTILITIES AND CONSUMER STAPLES START THE MORNING... After a big up day like yesterday, we would like to see follow through in the growth sectors. Unfortunately, Thursday started off with more upside for utilities and consumer staples. Chart 1 from the sector summary page shows the leaders in green. While...   READ MORE 

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INVESTORS ARE ROTATING FROM GROWTH TO VALUE -- MONEY IS LEAVING SOCIAL MEDIA, CONSUMER DISCRETIONARY, AND BIOTECHS INTO BANKS, ENERGY, STAPLES, TELECOM, AND TECH DIVIDEND-PAYERS

INVESTORS ARE ROTATING FROM GROWTH TO VALUE -- MONEY IS LEAVING SOCIAL MEDIA, CONSUMER DISCRETIONARY, AND BIOTECHS INTO BANKS, ENERGY, STAPLES, TELECOM, AND TECH DIVIDEND-PAYERS

HOW TO DEAL WITH AN OVERBOUGHT MARKET... The stock market rally that started in March 2009 recently passed its fifth anniversary. That makes this a mature bull move in need of a period of consolidation or correction. The market is also in its most overbought region since 2007. Chart 1...   READ MORE 

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A DRILL DOWN OF FINANCIALS -- THE LARGE BANK AND REGIONAL BANK ETFS LOOK STRONG -- JPM & WFC LOOK HIGHER AS BAC BREAKS A BIG TREND LINE -- CITI COMPLETES A ROUNDED TOP -- VISUAL CLUES FROM...

A DRILL DOWN OF FINANCIALS -- THE LARGE BANK AND REGIONAL BANK ETFS LOOK STRONG -- JPM & WFC LOOK HIGHER AS BAC BREAKS A BIG TREND LINE -- CITI COMPLETES A ROUNDED TOP -- VISUAL CLUES FROM GOLDMAN SACHS AND MORGAN STANLEY

A DRILL DOWN OF FINANCIALS... The financials are a critical component of the market. Ned Davis uses the phrase that financials will show the trouble before other sectors. So we have now had a 3% correction on the $SPX and it seems to have found support at the very important...   READ MORE 

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STOCKS SUFFER ANOTHER BAD CHART DAY -- WEAK RETAILERS WEIGH HEAVILY ON CONSUMER DISCRETIONARY SECTOR -- MONEY FLOWS INTO CONSUMER STAPLES -- DEFENSIVE ROTATONS, AND WEAK CHART ACTION, RAIS...

STOCKS SUFFER ANOTHER BAD CHART DAY -- WEAK RETAILERS WEIGH HEAVILY ON CONSUMER DISCRETIONARY SECTOR -- MONEY FLOWS INTO CONSUMER STAPLES -- DEFENSIVE ROTATONS, AND WEAK CHART ACTION, RAISE RISKS FOR A SPRING TOP

ANOTHER DOWN DAY IN HEAVIER TRADING ... The Nasdaq market continues to lead the rest of the market lower. Chart 1 shows the Power Shares QQQ Trust falling to another two-month low after falling below its 50-day line on Friday. Relative weakness by the Nasdaq (and small caps) is usually bad...   READ MORE 

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$INDU MAKES A DOUBLE TOP (SO FAR) -- COMPARING THE 2000 AND 2007 TOPS -- THE $COMPQ AND $SPX ARE WELL ABOVE THE 200 DMA -- $LUMBER GETS STUCK BELOW 40 WMA -- BUILDING AND CONSTRUCTION TEST...

$INDU MAKES A DOUBLE TOP (SO FAR) -- COMPARING THE 2000 AND 2007 TOPS -- THE $COMPQ AND $SPX ARE WELL ABOVE THE 200 DMA -- $LUMBER GETS STUCK BELOW 40 WMA -- BUILDING AND CONSTRUCTION TEST THE UPTREND -- $BRENT DIPPED BELOW THE SUPPORT LINE LAST WEEK

$INDU MAKES A DOUBLE TOP (SO FAR)... The Dow has made a double top so far as seen on Chart 1. Does this seem important? Here we sit with a potential $INDU double top and only 3 days from the high. Google, the big market leader is down almost 14%...   READ MORE 

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NOTES FROM TOP ANALYSTS, TRADERS, PORTFOLIO MANAGERS AND STRATEGISTS -- CHINA AND NUCLEAR ENERGY -- RELATIVE PERFORMANCE OF INDUSTRIALS -- MONETARY CONDITIONS MATTER

NOTES FROM TOP ANALYSTS, TRADERS, PORTFOLIO MANAGERS AND STRATEGISTS -- CHINA AND NUCLEAR ENERGY -- RELATIVE PERFORMANCE OF INDUSTRIALS -- MONETARY CONDITIONS MATTER

NOTES FROM TOP ANALYSTS, TRADERS, PORTFOLIO MANAGERS AND STRATEGISTS... I am on vacation the next two weeks, but would like to share my notes from the recent MTA symposium. Today's Market Message will provide tidbits from the Market Technicians Association's annual symposium, which was held in...   READ MORE 

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NASDAQ AND SMALL CAP INDEXES FALL BELOW 50-DAY AVERAGES ON BIG VOLUME -- SECTOR ROTATIONS TURN DEFENSIVE -- DOW AND S&P 500 SUFFER DOWNSIDE REVERSAL DAYS -- VOLUME PATTERNS ARE NEGATIVE --...

NASDAQ AND SMALL CAP INDEXES FALL BELOW 50-DAY AVERAGES ON BIG VOLUME -- SECTOR ROTATIONS TURN DEFENSIVE -- DOW AND S&P 500 SUFFER DOWNSIDE REVERSAL DAYS -- VOLUME PATTERNS ARE NEGATIVE -- WEEKLY MACD LINES REMAIN NEGATIVE FOR S&P

NASDAQ AND SMALL CAPS LEAD MARKET LOWER... Stocks suffered a bad chart day on Friday. Stock indexes lost more than 1% in heavy trading. Small cap stocks and the Nasdaq market lost more than 2%. Chart 1 shows the Nasdaq Composite Index losing -2.6% on the day in very...   READ MORE 

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10-YR TREASURY YIELD FAILS AT RESISTANCE -- 7-10 YR T-BOND ETF SURGES OFF WEDGE TREND LINE -- SMALL-CAPS AND TECHS LEAD MARKET LOWER -- RSP AND SPY STILL HOLDING UP -- BREATH INDICATORS SH...

10-YR TREASURY YIELD FAILS AT RESISTANCE -- 7-10 YR T-BOND ETF SURGES OFF WEDGE TREND LINE -- SMALL-CAPS AND TECHS LEAD MARKET LOWER -- RSP AND SPY STILL HOLDING UP -- BREATH INDICATORS SHOW NO DIVERGENCE

10-YR TREASURY YIELD FAILS AT RESISTANCE... Programming Note: Chip, Greg, John and I are at the MTA Symposium on Thursday and Friday. Today's Market Message will not include a video because I am on the road. Also note that I will be taking a family vacation from April...   READ MORE 

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$INDU, $SPX AND $TRAN MAKE NEW HIGHS TOGETHER -- TRUCKING INDEX MAKES HIGHER LOWS AND HIGHER HIGHS -- $SPX STOCKS ABOVE 200 DMA AND STOCKS ABOVE 50 DMA STILL HEALTHY -- $SPX IS NOW IN THE...

$INDU, $SPX AND $TRAN MAKE NEW HIGHS TOGETHER -- TRUCKING INDEX MAKES HIGHER LOWS AND HIGHER HIGHS -- $SPX STOCKS ABOVE 200 DMA AND STOCKS ABOVE 50 DMA STILL HEALTHY -- $SPX IS NOW IN THE SECOND LONGEST RALLY IN 30 YEARS

$INDU $SPX AND $TRAN MAKE NEW HIGHS TOGETHER... The $SPX made a new two day thrust higher this week. The $INDU shown in Chart 1 has made a new high today above the December 31st high. This new high confirms the breakout on the $SPX in Chart 2. (click to...   READ MORE 

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CONSUMER DISCRETIONARY SPDR LEADS MARKET HIGHER -- RETAIL SPDR CHALLENGES SUPPORT BREAK -- NUTRISYSTEM AND BEST BUY EXTEND CONSOLIDATIONS -- HOME CONSTRUCTION ISHARES SURGES OFF SUPPORT ZO...

CONSUMER DISCRETIONARY SPDR LEADS MARKET HIGHER -- RETAIL SPDR CHALLENGES SUPPORT BREAK -- NUTRISYSTEM AND BEST BUY EXTEND CONSOLIDATIONS -- HOME CONSTRUCTION ISHARES SURGES OFF SUPPORT ZONE -- INTERNET ETF BOUNCES OFF SUPPORT

CONSUMER DISCRETIONARY SPDR LEADS MARKET HIGHER... Link for today's video. The Consumer Discretionary SPDR (XLY) weighed on the stock market with a sharp decline in March, but the ETF found support at a key retracement and bounced over the last three days. Chart 1 shows XLY with a...   READ MORE 

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DOW INDUSTRIALS AND TRANSPORTS CHALLENGE RESISTANCE -- MMM, TRV, CNW AND KSU GO FOR BREAKOUTS -- GLOBAL AUTO ETF SURGES TO NEW HIGH -- FIAT HITS NEW HIGH, FORD CONSOLIDATES AND GM TESTS SU...

DOW INDUSTRIALS AND TRANSPORTS CHALLENGE RESISTANCE -- MMM, TRV, CNW AND KSU GO FOR BREAKOUTS -- GLOBAL AUTO ETF SURGES TO NEW HIGH -- FIAT HITS NEW HIGH, FORD CONSOLIDATES AND GM TESTS SUPPORT -- FINANCE ETF FORMS FLAG AS BANKING SPDR BOUNCES OFF SUPPORT

DOW INDUSTRIALS AND TRANSPORTS CHALLENGE RESISTANCE ... Link for today's video. With a surge the last two days, the Dow Industrials and Dow Transports are challenging consolidation resistance and poised for breakouts. Chart 1 shows the Dow surging above 16000 in February and then moving into a consolidation pattern....   READ MORE 

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ENERGY SECTOR SHOWS NEW MARKET LEADERSHIP -- ENERGY SPDR HITS NEW RECORD -- OIL SERVICE STOCKS ALSO SEE BIG GAINS -- HALLIBURTON AND SCHLUMBERGER ACHIEVE MAJOR BULLISH BREAKOUTS -- CRUDE O...

ENERGY SECTOR SHOWS NEW MARKET LEADERSHIP -- ENERGY SPDR HITS NEW RECORD -- OIL SERVICE STOCKS ALSO SEE BIG GAINS -- HALLIBURTON AND SCHLUMBERGER ACHIEVE MAJOR BULLISH BREAKOUTS -- CRUDE OIL MAY BE FORMING BULLISH TRIANGLE

ENERGY IS WEEK'S STRONGEST SECTOR... Energy stocks had a very good week. In fact, they were the strongest part of the stock market. Chart 1 shows the Energy Sector SPDR (XLE) breaking out to a new record. Even more impressive is the big jump in the XLE/SPX...   READ MORE 

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RSP AND SPY BOUNCE OFF CONSOLIDATION SUPPORT -- QQQ AND IWM BREAK 50-DAY LINES -- XLI, XLK AND XLF HOLD UP THE MARKET -- RUSSELL 2000 AND NASDAQ SERIOUSLY UNDERPERFORM -- TREASURIES START...

RSP AND SPY BOUNCE OFF CONSOLIDATION SUPPORT -- QQQ AND IWM BREAK 50-DAY LINES -- XLI, XLK AND XLF HOLD UP THE MARKET -- RUSSELL 2000 AND NASDAQ SERIOUSLY UNDERPERFORM -- TREASURIES START OUTPERFORMING STOCKS

RSP AND SPY BOUNCE OFF CONSOLIDATION SUPPORT... Link for today's video. Even though selling pressure hit small-caps and momentum names over the last few weeks, the S&P 500 SPDR (SPY) and the Equal-Weight S&P 500 ETF (RSP) held up quite well and did not...   READ MORE 

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A LOOK AT THE QQQ 5 YEAR RALLY -- QQQ BOUNCES OFF TREND LINE SUPPORT -- GOOG LOSES $100 IN 6 TRADING DAYS -- S&P SECTOR PERF CHARTS SHIFT TO DEFENSIVE SECTORS -- TOBACCO INDUSTRY IS #1 CON...

A LOOK AT THE QQQ 5 YEAR RALLY -- QQQ BOUNCES OFF TREND LINE SUPPORT -- GOOG LOSES $100 IN 6 TRADING DAYS -- S&P SECTOR PERF CHARTS SHIFT TO DEFENSIVE SECTORS -- TOBACCO INDUSTRY IS #1 CONSUMER STAPLES INDUSTRY GROUP

QQQ � A LOOK AT THE 5 YEAR RALLY ... QQQ has recently touched the top of the channel trend line as shown in Chart 1. We have been rubbing it for 4 months now. We have not visited the lower channel line since the 2011 October lows. I want to show...   READ MORE 

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EAFE AND EEM ISHARES EARLY BOUNCE FADES -- EMERGING MARKET BONDS AND CURRENCIES ARE BOUNCING -- THE EURO RALLY HAS RUN INTO A MAJOR RESISTANCE LINE -- A STRONGER EURO HAS BOOSTED THE RELAT...

EAFE AND EEM ISHARES EARLY BOUNCE FADES -- EMERGING MARKET BONDS AND CURRENCIES ARE BOUNCING -- THE EURO RALLY HAS RUN INTO A MAJOR RESISTANCE LINE -- A STRONGER EURO HAS BOOSTED THE RELATIVE PERFORMANCE OF EUROZONE STOCKS OVER LAST TWO YEARS

FOREIGN STOCK ETFS EARLY GAINS FADE... Foreign stock markets turned in a stronger performance earlier today, but their gains faded by day's end. Chart 1 shows EAFE iShares (which measures developed markets) trading above its 50-day moving average for most of the day. An afternoon fade, however, erased...   READ MORE 

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WATCHING THE 10-YR YIELD FOR CLUES ON STOCKS -- TLT BOUNCES OFF GOLDEN CROSS (AGAIN) -- MINING AND RELATED STOCKS HOLD STRONG -- AA CHALLENGES RESISTANCE AS BHP BOUNCES -- APPAREL RETAILER...

WATCHING THE 10-YR YIELD FOR CLUES ON STOCKS -- TLT BOUNCES OFF GOLDEN CROSS (AGAIN) -- MINING AND RELATED STOCKS HOLD STRONG -- AA CHALLENGES RESISTANCE AS BHP BOUNCES -- APPAREL RETAILERS INDEX BREAKS SHORT-TERM SUPPORT

WATCHING THE 10-YR YIELD FOR CLUES ON STOCKS... Programming note: We are having some technical issues and cannot produce a video at the moment. The 10-YR Treasury Yield ($TNX) continues to muddle along and trade above the October low. Chartists should watch Treasury yields because they are positively correlated with...   READ MORE 

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BEARISH DIVERGENCE EXTENDS IN $NDX BREADTH INDICATOR -- AMAZON, FACEBOOK AND GOOGLE, WEIGH ON THE NASDAQ -- MOMENTUM AND INTERNET STOCKS GET HAMMERED -- APPLE BUCKS THE TREND WITH RESISTAN...

BEARISH DIVERGENCE EXTENDS IN $NDX BREADTH INDICATOR -- AMAZON, FACEBOOK AND GOOGLE, WEIGH ON THE NASDAQ -- MOMENTUM AND INTERNET STOCKS GET HAMMERED -- APPLE BUCKS THE TREND WITH RESISTANCE CHALLENGE -- XLY LAGS AND TESTS SUPPORT AS XRT FALLS

BEARISH DIVERGENCE EXTENDS IN $NDX BREADTH INDICATOR... After forming two big outside days the prior two weeks, the Nasdaq 100 ETF (QQQ) is falling on Monday and breaking its first support level. Chart 1 shows QQQ opening strong and closing weak on March 13th and 21st (red arrows). Basically, these...   READ MORE 

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GILEAD AND BIOGEN LEAD BIOTECH SELLOFF WHICH PULLS NASDAQ LOWER -- MARKET SUFFERS DOWNSIDE REVERSAL DAY ON FRIDAY -- BIG JUMP IN 2-YEAR YIELD MAY HAVE ALSO UNSETTLED MARKET -- DOLLAR BOUNC...

GILEAD AND BIOGEN LEAD BIOTECH SELLOFF WHICH PULLS NASDAQ LOWER -- MARKET SUFFERS DOWNSIDE REVERSAL DAY ON FRIDAY -- BIG JUMP IN 2-YEAR YIELD MAY HAVE ALSO UNSETTLED MARKET -- DOLLAR BOUNCE MAY CAP GOLD RALLY

BIOTECHS TUMBLE ON FRIDAY... Biotech stocks, which have been market leaders for months, took a big hit on Friday. The catalyst for the heavy selling was a letter by a group of House Democrats asking Gilead Sciences to justify the high price of its hepatitis drug. That query caused the...   READ MORE 

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THE FAB FIVE HOLD THEIR BREAKOUTS -- BULLISH HIGHLIGHTS OUTWEIGH CONCERNS -- THREE KEY INDUSTRY-GROUP ETFS CONSOLIDATE IN MARCH -- FINANCE SPDR AND BANK ETF SURGE TO NEW HIGHS -- AN INDEX...

THE FAB FIVE HOLD THEIR BREAKOUTS -- BULLISH HIGHLIGHTS OUTWEIGH CONCERNS -- THREE KEY INDUSTRY-GROUP ETFS CONSOLIDATE IN MARCH -- FINANCE SPDR AND BANK ETF SURGE TO NEW HIGHS -- AN INDEX DOES NOT ALWAYS TELL THE WHOLE STORY

THE FAB FIVE HOLD THEIR BREAKOUTS... Link for today's video. It was a wild trading week as stocks dipped sharply on Wednesday and recovered with an equally sharp advance on Thursday. The Fed, of course, got the blame for this week's volatility. Despite the dip and...   READ MORE 

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$USD SNAPS OUT OF A DOWNTREND -- THE CURRENCY PITS WERE YELLING YESTERDAY -- $XEU THE EURO HEADS LOWER AFTER A FAILED BREAKOUT -- $COPPER PRINTS A BULLISH OUTSIDE DAY -- $GOLD PULLS BACK L...

$USD SNAPS OUT OF A DOWNTREND -- THE CURRENCY PITS WERE YELLING YESTERDAY -- $XEU THE EURO HEADS LOWER AFTER A FAILED BREAKOUT -- $COPPER PRINTS A BULLISH OUTSIDE DAY -- $GOLD PULLS BACK LOOKING FOR SUPPORT -- THE BONDS WERE QUIET THROUGH THE FED MEETING

$USD SNAPS OUT OF A DOWNTREND ... The $USD started falling the week after the last Fed meeting. Chart 1 shows a 2 hour chart of the UUP which gives us intraday data for the $USD. The six-week downtrend was relatively smooth and consistent. Two weeks ago, the dollar dropped below...   READ MORE 

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SPY SUCCESSFULLY TESTS FIRST SUPPORT LEVEL -- XLI AND XLY BOUNCE OFF EARLY MARCH LOWS -- XLK LEADS MARKET HIGHER -- MSFT LEADS TECHS HIGHER -- INTEL EXTENDS CONSOLIDATION -- BIOTECH ISHARE...

SPY SUCCESSFULLY TESTS FIRST SUPPORT LEVEL -- XLI AND XLY BOUNCE OFF EARLY MARCH LOWS -- XLK LEADS MARKET HIGHER -- MSFT LEADS TECHS HIGHER -- INTEL EXTENDS CONSOLIDATION -- BIOTECH ISHARES BOUNCES OFF SUPPORT ZONE

SPY SUCCESSFULLY TESTS FIRST SUPPORT LEVEL... Link for today's video. The S&P 500 SPDR (SPY) fell sharply last week, but firmed on Friday and bounced off support this week. Chart 1 shows SPY breaking out to a new high with a gap in early March. This...   READ MORE 

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FOREIGN STOCKS LEAD US MARKET LOWER -- SHORT-TERM MARKET CHARTS SHOW DETERIORATION -- UKRAINE TENSIONS WEIGH ON GERMANY -- CHINA WEAKNESS AND RISING YEN WEIGH ON JAPAN -- FALLING BOND YIEL...

FOREIGN STOCKS LEAD US MARKET LOWER -- SHORT-TERM MARKET CHARTS SHOW DETERIORATION -- UKRAINE TENSIONS WEIGH ON GERMANY -- CHINA WEAKNESS AND RISING YEN WEIGH ON JAPAN -- FALLING BOND YIELDS ALSO HINT AT STOCK WEAKNESS

U.S. STOCKS HAVE A BAD WEEK ... My Wednesday message warned that the Dow Industrials could run into profit-taking near its January highs, and that weekly indicators for the S&P 500 were giving "negative divergences" which also warned of a market pullback. Combined with increased tensions...   READ MORE 

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SPY FILLS THE GAP AND TESTS FIRST SUPPORT -- XLY, XLI AND XLK TEST FIRST SUPPORT LEVELS -- XRT IS STILL AN UNDERPERFORMER -- ITB NEARS IMPORTANT SUPPORT ZONE -- XME FORMS CUP-WITH-HANDLE P...

SPY FILLS THE GAP AND TESTS FIRST SUPPORT -- XLY, XLI AND XLK TEST FIRST SUPPORT LEVELS -- XRT IS STILL AN UNDERPERFORMER -- ITB NEARS IMPORTANT SUPPORT ZONE -- XME FORMS CUP-WITH-HANDLE PATTERN -- TLT AND IEF SURGE OFF KEY MOVING AVERAGES

SPY FILLS THE GAP AND TESTS FIRST SUPPORT... Link for today's video. Stocks fell back this week and finally alleviated some of the short-term oversold conditions that built up in early March. The bulk of the evidence remains bullish for stocks, but the list of concerns grew this...   READ MORE 

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GOLD MINER ETFS ARE ALL THE RAGE -- JUNIOR MINERS ARE NOT CONFIRMING THE $XEU MOVE -- PRECIOUS METAL CHARTS ARE ALL STRONG EXCEPT COPPER -- ENERGY CHARTS ARE WEAKENING � SOFT COMMODITY CHA...

GOLD MINER ETFS ARE ALL THE RAGE -- JUNIOR MINERS ARE NOT CONFIRMING THE $XEU MOVE -- PRECIOUS METAL CHARTS ARE ALL STRONG EXCEPT COPPER -- ENERGY CHARTS ARE WEAKENING � SOFT COMMODITY CHARTS ARE SOARING

GOLD MINER ETFS ARE ALL THE RAGE... On the Top 10 Up ETF tab, the gold miners look particularly strong. The list that is shown in Chart 1 was dominated by precious metal ETF's today. GDXJ represents a flag pattern. It is trying to break out to the...   READ MORE 

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INDUSTRIAL COMMODITIES DON'T PARTICIPATE IN WEATHER-RELATED COMMODITY RALLY -- PLUNGE IN COPPER HINTS AT PROBLEMS IN CHINA -- NEW SELLING IN EMERGING MARKETS BEARS WATCHING -- DOW NEARS A...

INDUSTRIAL COMMODITIES DON'T PARTICIPATE IN WEATHER-RELATED COMMODITY RALLY -- PLUNGE IN COPPER HINTS AT PROBLEMS IN CHINA -- NEW SELLING IN EMERGING MARKETS BEARS WATCHING -- DOW NEARS A TEST OF JANUARY HIGH -- WEEKLY S&P 500 INDICATORS RAISE CONCERNS

MAJOR DIVERGENCE IN COMMODITY RALLY... I've written several messages about the recent rise in commodity prices. I've also pointed out, however, that most of the commodity gains were in weather-related agricultural markets (and natural gas). From an intermarket perspective, however, weather-related markets have much less impact...   READ MORE 

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CONSUMER STAPLES SPDR MINDS THE GAP -- EQUAL-WEIGHT CONSUMER STAPLES ETF HITS NEW HIGH -- TECHNOLOGY SPDR LAGS ITS EQUAL-WEIGHT COUNTERPART -- PG CHALLENGES RESISTANCE ZONE -- ENERGY SPDR...

CONSUMER STAPLES SPDR MINDS THE GAP -- EQUAL-WEIGHT CONSUMER STAPLES ETF HITS NEW HIGH -- TECHNOLOGY SPDR LAGS ITS EQUAL-WEIGHT COUNTERPART -- PG CHALLENGES RESISTANCE ZONE -- ENERGY SPDR CONSOLIDATES NEAR HIGHS -- XOM AND CVX HIT RESISTANCE ZONES

CONSUMER STAPLES SPDR MINDS THE GAP ... Link for today's video. The Consumer Staples SPDR (XLP) extended its advance with a gap up in early March and an approach to the 2013 highs. Chart 1 shows XLP plunging below support in late January and rebounding sharply in February to...   READ MORE 

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SHANGHAI COMPOSITE FORMS YET ANOTHER LOWER HIGH -- COAL ETF AND INDEX TURN SHARPLY LOWER -- COPPER MINERS ETF BREAKS SUPPORT -- STEEL ETF COMPLETES THREE-POINT REVERSAL -- US STEEL AND NUC...

SHANGHAI COMPOSITE FORMS YET ANOTHER LOWER HIGH -- COAL ETF AND INDEX TURN SHARPLY LOWER -- COPPER MINERS ETF BREAKS SUPPORT -- STEEL ETF COMPLETES THREE-POINT REVERSAL -- US STEEL AND NUCOR FORGE LOWER HIGHS

SHANGHAI COMPOSITE FORMS YET ANOTHER LOWER HIGH... Link for today's video. It is tempting to suggest that the Shanghai Composite ($SSEC) is testing a major support zone, but the trend is clearly down and support levels are not expected to hold in downtrends. Chart 1 shows the index...   READ MORE 

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COPPER FOLLOWS THE DOLLAR LOWER -- SLOW AND STEADY WINS THE RACE FOR STOCKS -- 10-YR TREASURY YIELD BREAKS FEBRUARY HIGH -- IEF FORGES OUTSIDE REVERSAL WEEK -- KEY BREADTH INDICATORS CONFI...

COPPER FOLLOWS THE DOLLAR LOWER -- SLOW AND STEADY WINS THE RACE FOR STOCKS -- 10-YR TREASURY YIELD BREAKS FEBRUARY HIGH -- IEF FORGES OUTSIDE REVERSAL WEEK -- KEY BREADTH INDICATORS CONFIRM STOCK MARKET STRENGTH

COPPER FOLLOWS THE DOLLAR LOWER... Link for today's video. Stocks extended their winning days as most of the major stock indices hit new highs again this week. A new high in the Finance SPDR (XLF) and renewed relative strength in the finance sector is perhaps the most significant...   READ MORE 

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$RUT UP 12% IN ONE MONTH, UP 254% IN 5 YEARS -- CAT, JOY, DE HAVE STRONG DAY -- FINANCIALS HAVE ANOTHER BIG DAY -- SOME LARGE MARKET ANNIVERSARIES -- A LOOK AT AN INTERESTING CYCLE

$RUT UP 12% IN ONE MONTH, UP 254% IN 5 YEARS -- CAT, JOY, DE HAVE STRONG DAY -- FINANCIALS HAVE ANOTHER BIG DAY -- SOME LARGE MARKET ANNIVERSARIES -- A LOOK AT AN INTERESTING CYCLE

$RUT UP 12% IN ONE MONTH, 254 % IN 5 YEARS... The $SPX has obviously been on a serious run since the 3 digit lows of 2009. The rise since those lows has been staggering. From February 2014 lows: $SPX 8 % $COMPQ 10 % $RUT 12 % From March 2009 lows: $SPX 182...   READ MORE