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COMMODITY PRICES ARE RISING FOR FIRST TIME IN TWO YEARS -- THAT'S GOOD FOR COUNTRIES LIKE CANADA THAT PRODUCE COMMODITIES -- BUT POTENTIALLY BAD FOR BONDS -- WHILE WEATHER IS BOOSTING SOME COMMODITIES, COPPER IS LAGGING BEHIND

by John Murphy,

Chief Technical Analyst, StockCharts.com

COMMODITY INDEX IS TURNING UP ... With the stock market running into a little resistance around its old high, and bond yields stuck in the middle of a trading range, the biggest intermarket story this past week was the 2014 climb in commodity prices. I wrote about this on Wednesday, but...   READ MORE 

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NEW HIGHS ABOUND AND AFFIRM BULL MARKET -- SPY CHALLENGES HIGH AS QQQ RECORDS NEW HIGH -- EQUAL-WEIGHT S&P 500 OUTPERFORMS, BUT RUSSELL 2000 LAGS -- REGIONAL BANKS WEIGH ON FINANCE SECTOR -- RETAIL REMAINS A DRAG ON THE CONSUMER DISCRETIONARY SECTOR

by John Murphy,

Chief Technical Analyst, StockCharts.com

NEW HIGHS ABOUND AND AFFIRM BULL MARKET... Link for today's video. Despite relative weakness in a few key groups, the bulk of the evidence remains bullish for the stock market. Several key ETFs and indicators recorded 52-week highs this week. Except for retail, the bearish points are mostly...   READ MORE 

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THE INDEXES HAVE A WEAK DAY WHILE TESTING NEW HIGHS -- CHECKING FOR A SHORT TERM TOP ON THE INDEXES -- $SPXA50R COULD BE POINTING TO A SHORT TERM TOP -- $SPXA200R POINTS TO A MORE SIGNIFICANT CORRECTION -- XLF WORKING TO STAY ABOVE THE 50 DMA

by John Murphy,

Chief Technical Analyst, StockCharts.com

THE INDEXES HAVE A WEAK DAY WHILE TESTING NEW HIGHS - ... Chart 1 shows a tight 4 day view of the indexes in a 30 minute time frame. The $SPX tried to take out the yearend high close of 1848.38 on Wednesday. It could not quite make it back...   READ MORE 

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WEAKER DOLLAR AND WEATHER GIVE COMMODITIES A BOOST -- NATURAL GAS AND COFFEE ARE BIGGEST GAINERS -- BUT UPTURNS ALSO SEEN IN ECONOMICALLY-SENSITIVE COPPER, OIL, AND SILVER -- BASIC MATERIAL AND ENERGY STOCKS ARE ALSO STRONG

by John Murphy,

Chief Technical Analyst, StockCharts.com

COMMODITIES TRACKING FUND CLEARS 200-DAY AVERAGE... After lying dormant for the last year, commodity prices are finally showing some life. Chart 1 shows the DB Commodities Tracking Fund (DBC) surging to the highest level in four months and clearing its 200-day moving average. [The DBC includes 14 actively traded commodities]...   READ MORE 

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HEALTHCARE PROVIDERS INDEX SPRINGS INTO ACTION -- AETNA, HUMANA AND UNITEDHEALTH LEAD HMO REBOUND -- ITB SHOWS UPSIDE LEADERSHIP AHEAD OF KEY DATA -- SILVER GETS A BREAKOUT AND RESISTANCE TARGET -- BASE METALS FAIL TO FOLLOW PRECIOUS METALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

HEALTHCARE PROVIDERS INDEX SPRINGS INTO ACTION... Link for today's video. The HealthCare SPDR is the strongest of the nine sectors in the stock market right now. Despite being in the strongest sector, healthcare providers lagged the market and underperformed this year. This may be changing as the DJ...   READ MORE 

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TECH LEADERSHIP IS BULLISH OVERALL -- SPY APPROACHES NEW HIGH AS QQQ HITS NEW HIGH -- TWO STOCKS MAKING MOVES WITH BIG VOLUME -- AD AND AD VOLUME LINES NEAR NEW HIGHS -- NET NEW HIGHS SURGE ABOVE +2% -- RETAIL SPDR LAGS LIKE IT'S 2007

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECH LEADERSHIP IS BULLISH OVERALL... Link for today's video. After a strong finish to 2013, stocks started the year flat and then fell sharply in the second half of January. Selling pressure continued on the first day of February, but stocks soon firmed and mounted a pretty strong...   READ MORE 

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THE BOND AND EQUITY MARKETS HIT KEY FIB LEVELS -- THE NASDAQ COMPOSITE MAINTAINS ITS CHANNEL -- THE MARKET SECTOR LEADERSHIP IS CHANGING -- THE SCTR RANKINGS SHOW MARKET LEADERSHIP CHANGES AS WELL MFL -- CHW RNP NKX JPI PUSH TO BECOME TOP QUARTILE

by John Murphy,

Chief Technical Analyst, StockCharts.com

THE BOND AND EQUITY MARKETS HIT KEY FIB LEVELS... After the market has worked to get back above most of our common retracement levels, it hovers in one crucial spot today. I have opened the chart John posted yesterday and added Fibonacci retracements. In Chart 1 the bonds have retraced...   READ MORE 

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BOUNCE IN BOND YIELD SUPPORTS STOCK REBOUND -- BOLLINGER BANDS TURN POSITIVE AND S&P 500 CLEARS 50-DAY LINE -- BUT DECLINING VOLUME HASN'T CONFIRMED PRICE RISE -- WEEKLY MACD LINES REMAIN NEGATIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

RISING BOND YIELDS SUPPORT STOCK REBOUND... Last Wednesday's message showed how action in the bond market offered clues to stock market direction. It showed the 10-Year Treasury Note Yield ($TNX) bouncing off its 200-day average (and staying above chart support at its October low). The message suggested that...   READ MORE 

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NASDAQ 100 EQUAL-WEIGHT ETF HITS NEW HIGH -- FOUR STOCKS SHOWING RELATIVE STRENGTH IN THE ENERGY SECTOR -- BIG DATA STOCKS MAKING BIG MOVES -- SEAGATE HITS KEY LEVEL AS WESTERN DIGITAL PULLS BACK

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ 100 EQUAL-WEIGHT ETF HITS NEW HIGH... Link for today's video. Technology remains one of the strongest groups in the stock market. We can see this because the Nasdaq 100 Equal-Weight ETF (QQEW) is already above its January high. Not many index or group ETFs are trading at...   READ MORE 

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HEALTHCARE SPDR BOUNCES OFF TREND LINE ZONE -- PFIZER, GILEAD AND ABBVIE LOOK TO EXTEND UPTRENDS -- SHANGHAI COMPOSITE BOUNCES OFF LONG-TERM SUPPORT -- GOLD SPDR CHALLENGES UPPER BOLLINGER BAND -- SILVER CONSOLIDATES WITHIN DOWNTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

HEALTHCARE SPDR BOUNCES OFF TREND LINE ZONE... Link for today's video. The HealthCare SPDR (XLV) has been one of the strongest sectors in the stock market this year, and shows no signs of letting up. Chart 1 shows the XLV hitting a new high in mid January, pulling...   READ MORE 

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MARKET BOUNCES OFF 200-DAY AVERAGE, BUT ON LOWER VOLUME -- INDEXES WILL NOW HAVE TO CLEAR 50-DAY LINES TO SIGNAL END OF CORRECTION -- EAFE ISHARES ALSO BOUNCES OFF 200-DAY AVERAGE WHILE EMERGING MARKETS REBOUND FROM IMPORTANT SUPPORT LEVELS

by John Murphy,

Chief Technical Analyst, StockCharts.com

200-DAY AVERAGES HOLD... Despite a weak jobs report on Friday, stocks had an impressive price rebound on Thursday and Friday. That was partially due to a short-term oversold condition. Chart 1 shows the 14-day RSI line for the Dow Industrials bouncing from oversold territory near 30 (although its daily MACD...   READ MORE 

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SPY GETS OVERSOLD BOUNCE -- SMALL-CAPS LAG ON OVERSOLD BOUNCE -- BREADTH SHOWS MATERIAL SELLING PRESSURE -- NET NEW HIGHS DO THE DOUBLE DIP -- ECONOMIC INDICATORS TURN MIXED -- MANUFACTURING WEAKENS, BUT SERVICES REMAIN STRONG -- AUTO SALES STALL

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY GETS OVERSOLD BOUNCE... Link for today's video. Stocks started the week under selling pressure as the S&P 500 SPDR (SPY) plunged below 175 on Monday to create a short-term oversold condition. Chart 1 shows the ETF with a support zone marked by the November low,...   READ MORE 

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EURO STROKES A REVERSAL CANDLE BOND YIELDS MOVE HIGHER $WTIC TESTS THE 200 DMA UNG BREAKS THE UP TREND -- CAT RISES WHILE THE MARKET FALLS -- THE SCTR ON CAT HITS A SWEET SPOT A QUICK VIEW OF MAJOR MINING COMPANIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO STROKES A REVERSAL CANDLE ... The Euro has a slow negative slope to it as shown in Chart 1. We can also see the recent trend line break has been cancelled by the move today. The Euro now resides above the trend line, but below the down sloping 50 DMA....   READ MORE 

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WATCHING BOND YIELD AND PRICE FOR CLUES TO STOCK MARKET DIRECTION -- APPLYING BOLLINGER BANDS TO THE S&P 500 -- EMERGING MARKET CURRENCIES AND STOCKS ARE TESTING CRITICAL CHART SUPPORTS -- VIX INDEX IS TESTING RESISTANCE ALONG 2013 HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOND YIELD TEST NEARS CHART SUPPORT ... The downturn on bond yields at the start of the year forewarned of a pullback in stocks. Both have fallen together as some money left stocks for the relative safety of Treasury bonds. Chart 1, however, shows the 10-Year Treasury Note Yield ($TNX) very...   READ MORE 

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DOWN TURN IN YIELD CURVE WEIGHS ON BANKS -- REGIONAL BANK SPDR BREAKS LONG-TERM TREND LINE -- NATURAL GAS STOCKS SHOW RELATIVE STRENGTH -- SECTOR PERFCHARTS REVEAL A POTENTIAL 2014 LEADER -- TECHNOLOGY SPDR HITS FIRST SUPPORT ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOWN TURN IN YIELD CURVE WEIGHS BANKS... Link for today's video. Regional banks got hit hard over the last few weeks as the yield curve turned down this year. The yield curve affects banking profits because banks make money by borrowing short, lending long and capturing the spread....   READ MORE 

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SPY BREAKS KEY SUPPORT LEVEL -- MDY AND XLF TRIGGER CONTINUATION SIGNALS -- XLY EXTENDS DECLINE AND RELATIVE WEAKNESS -- AUTOS AND RETAILERS WEIGH -- NIKKEI 225 CORRECTS TO FIRST SUPPORT ZONE -- EURO BREAKS KEY LEVEL AS MOMENTUM REMAINS BEARISH

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY BREAKS KEY SUPPORT LEVEL ... Link for today's video. After a big decline in mid January, stocks consolidated last week with flags and pennants forming in several ETFs. Flags and pennants are short-term continuation patterns that form after a sharp move. Chart 1 shows the S&P...   READ MORE 

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VOLUME PATTERN SUGGESTS DEEPER CORRECTION FOR STOCKS -- JANUARY BAROMETER IS A NEGATIVE SIGN FOR STOCKS DURING 2014 -- SO IS THE FACT THAT THIS IS A MIDTERM ELECTION YEAR -- UTILITIES, REITS AND HOMEBUILDERS FOLLOW BOND PRICES HIGHER

by John Murphy,

Chief Technical Analyst, StockCharts.com

HEAVY DOWNSIDE VOLUME ISN'T A GOOD SIGN... The stock market ended the week as it began -- on the downside. Two low-volume bounces on Tuesday and Thursday were followed by higher volume declines on Wednesday and Friday. Charts 1 and 2 show the Dow Industrials and S&...   READ MORE 

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BLAME XLY AND TLT BEFORE EEM -- FEBRUARY PATTERNS SHIFT FOR THE S&P 500 -- ADDING A TIME DIMENSION TO THE CORRECTION TARGETS -- BREADTH INDICATORS PULLBACK WITHIN BIGGER UPTREND -- NET NEW HIGHS DIP TO PRIOR REVERSAL ZONES

by John Murphy,

Chief Technical Analyst, StockCharts.com

BLAME XLY AND TLT BEFORE EEM... Link for today's video. There is certainly a lot of blame to go around for the recent weakness in the stock market. First, the employment report missed expectations at the beginning of January and this kept a bid in the bond market....   READ MORE 

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$SPX FED DATES CREATE SUPPORT AT 1775 -- NUMBER OF STOCKS ABOVE THE 50 DMA IS AT A RALLY LEVEL -- $SPXA200R IS WEAKENING - NEXT RALLY MAY DEFINE MAJOR TOP -- $NATGAS BECOMES A LAUNCH FUEL -- GLD MOVES BACK BELOW THE 20 DMA -- FACEBOOK TAKES FLIGHT

by John Murphy,

Chief Technical Analyst, StockCharts.com

$SPX FED DATES CREATE SUPPORT AT 1775... The stock market has returned back to the level that was first touched on the Oct 30th Fed meeting at 1775 as shown in Chart 1. After running back below 1750 in November, the reversal came in right after the large black engulfing...   READ MORE 

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FED CONTINUES TAPERING PROGRAM -- NO RELIEF FROM EMERGING MARKET SELLOFF -- US STOCK INDEXES TEST INITIAL SUPPORT -- WEEKLY BOLLINGER BANDS HELP FIND POTENTIAL DOWNSIDE TARGETS -- PREVIOUS PULLBACKS TO LOWER BAND HAVE PROVIDED SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

FED REDUCES MONTHLY BOND PURCHASES BY ANOTHER $10 BILLION ... The Fed announced this afternoon that it will continue bond tapering program by reducing its February bond purchases from $75 billion to $65 billion. Some observers thought that Fed might back off on its tapering after the recent plunge in emerging...   READ MORE 

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FINANCE SPDR BECOMES MOST OVERSOLD SINCE 2011 -- JP MORGAN, MORGAN STANLEY AND WELLS HOLD SUPPORT -- HOME CONSTRUCTION ISHARES BOUNCES OFF BREAKOUT ZONE -- LENNAR, PULTE AND RYLAND FORM BULL FLAGS -- THE DOLLAR IS ACTUALLY A PRETTY STRONG CURRENCY

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SPDR BECOMES MOST OVERSOLD SINCE 2011... Link for today's video. The Finance SPDR (XLF) is getting an oversold bounce after a very sharp decline. XLF led the market lower over the prior three days with a plunge from 22 to 21. Even though this is just one...   READ MORE 

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RUSSELL 2000 ETF BREAKS IMPORTANT TREND LINE -- QQQ TESTS SUPPORT AS CCI BECOMES OVERSOLD -- COPPER FAILS AT RESISTANCE -- BASE METALS ETF TRACES OUT BEARISH CONTINUATION PATTERN -- COPPER MINERS ETF TURNS SHARPLY LOWER -- SILVER GETS THE SQUEEZE PLAY

by John Murphy,

Chief Technical Analyst, StockCharts.com

RUSSELL 2000 ETF BREAKS IMPORTANT TREND LINE... Link for today's video. The Russell 2000 ETF (IWM) continued lower in early trading on Monday and broke the trend line extending up from early September. With a decline below 113, chart 1 shows the ETF moving to its lowest level...   READ MORE 

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PLUNGE IN EMERGING MARKETS CAUSES GLOBAL DOWNTURN IN STOCKS -- CHINESE STOCKS TUMBLE ON WEAK ECONOMIC NEWS -- BOND RALLY FORWARNED OF POSSIBLE STOCK CORRECTION EARLIER IN THE MONTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

PLUNGE IN EMERGING CURRENCIES PULLS STOCKS LOWER ... My Wednesday message showed the close correlation between weak emerging market currencies and emerging market stocks. It showed the WisdomTree Emerging Currency Fund (CEW) threatening to break an important support line. The green line in Chart 1 shows that happening. After falling sharply...   READ MORE 

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SIZING UP A POTENTIAL CORRECTION IN SPY -- MARKING KEY SUPPORTS FOR IWM AND QQQ -- SCTR BREAKS DOWN FOR THE FINANCE SPDR -- SMALLER BANKS HOLD UP BETTER THAN BIGGER BANKS -- ENERGY-RELATED ETFS BREAK DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

SIZING UP A POTENTIAL CORRECTION IN SPY... Link for today's video. Stocks have been quite mixed up in January. This mixed trading applies to the major index ETFs and the sector SPDRs. First, we saw new highs in the Russell 2000 ETF (IWM), the Nasdaq 100 ETF (QQQ)...   READ MORE 

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THURSDAY SEES BIG MOVES IN CURRENCIES, COMMODITIES, EQUITIES AND BONDS -- $SPX TESTS BOTTOM OF RANGE -- $TYX YIELDS CONTINUE TO FALL -- $NATGAS TAKES A RUN AT $5 -- $GOLD BREAKS A 16 MONTH TRENDLINE -- $USD GAPS LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

THURSDAY SEES BIG MOVES IN EQUITIES, COMMODITIES, CURRENCIES AND BONDS.... Almost everything was moving around 1% today. You can see on Chart 1, this is my TOP 15 THINGS TO WATCH Chart list. I get a quick snapshot of the intraday action in each group. For the big picture, the...   READ MORE 

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2008 COMMODITY PEAK ENDED EMERGING MARKET BOOM -- COMMODITY PRODUCERS LIKE BRAZIL AND RUSSIA HAVE BEEN WEAKEST EMERGING MARKETS -- WEAK EMERGING CURRENCIES WEIGH ON STOCKS -- LOCAL CURRENCY EMERGING BONDS FALL THE HARDEST

by John Murphy,

Chief Technical Analyst, StockCharts.com

2008 COMMODITY PEAK ENDED EMERGING MARKET BOOM... My Monday message expressed the view that a stronger U.S. dollar during 2014 would have important ripple effects around the globe. One effect would be a stronger performance by U.S. stocks relative to foreign stocks. Another would be stronger performance by...   READ MORE 

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QQQ AND IWM MAINTAIN BREAKOUTS AND LEADERSHIP -- XLY TAKES A RELATIVE PERFORMANCE DIVE -- STEEL ETF FALLS BACK TO SUPPORT -- STOCKS ARE UNDERPERFORMING TREASURIES THIS YEAR -- PIMCO BOND FUNDS SURGE IN JANUARY

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ AND IWM MAINTAIN BREAKOUTS AND LEADERSHIP... Link for today's video. The major index ETFs remain in uptrends and these uptrends may seem long in tooth, but we have yet to see sustained selling pressure or a significant decline (10%). Declines were limited because buyers were quick to...   READ MORE 

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US DOLLAR STARTS THE YEAR ON A STRONG NOTE -- A FIRMER GREENBACK DURING 2014 WOULD FAVOR U.S. STOCKS OVER FOREIGN STOCKS -- A STRONGER DOLLAR WOULD ALSO WEIGH ON COMMODITY PRICES -- EAFA ISHARES ARE NEARING A TEST OF 2007 HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

US DOLLAR STARTS THE NEW YEAR ON A STRONG NOTE ... The U.S. dollar has entered 2014 on a strong note. Chart 1 shows the U.S. Dollar Index ($USD) trending higher during January which continued its stronger pace since late October. The USD is now moving up to challenge...   READ MORE 

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SMALL-CAPS AND LARGE-TECHS LEAD THE MARKET -- AD LINE AND AD VOLUME LINE BREAK OUT TO NEW HIGHS -- REVISITING A LONG-TERM TARGET FOR GOLD -- DOLLAR CHALLENGES KEY LEVEL -- SEASONALITY FOR S&P 500, GOLD, OIL, DOLLAR AND TREASURIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS AND LARGE-TECHS LEAD THE MARKET... Link for today's video. Four of the five major index ETFs I track recorded new highs this week to affirm the current uptrend in the stock market. These include the S&P 500 SPDR (SPY), the Nasdaq 100 ETF (QQQ), the...   READ MORE 

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THE INTERCEPT COMES ROARING BACKWARDS -- BIOTECHS STEP ON THE ACCELERATOR -- BEST BUY CHECKS OUT OF THE UPTREND -- XLE TESTS THE TREND LINE AGAIN WITH DIVERGENCE -- THE CANADIAN MINING SECTOR BREAKS OUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

THE INTERCEPT COMES ROARING BACKWARDS... The Biotech Index has recently accelerated with Intercept Pharmaceuticals going ballistic last week. On Chart 1, ICPT shot up from $75 to almost $497 in 2 days. ICPT has since pulled back to $276.00. Investors may look for a basing pattern in the stock...   READ MORE 

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BANKS CONTINUE TO ATTRACT MORE INTEREST -- SO DO AUTOS -- THE DJ AUTOMOBILE INDEX HAS BULLISH LONG TERM PATTERN -- TESLA AND FORD ARE RECOVERING FROM FOURTH QUARTER CORRECTION -- GM IS IN SHORT-TERM CORRECTION -- 10 YEAR YIELD BOUNCES OFF 50-DAY LINE

by John Murphy,

Chief Technical Analyst, StockCharts.com

BANKS ARE LEADING STRONG FINANCIAL SECTOR... Last Wednesday's message wrote a positive article on bank stocks, and showed the group doing better on both an absolute and relative basis. Chart 1 is an updated version of the KBW Bank SPDR (KBE), and shows the ETF climbing 1% today...   READ MORE 

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MARKING FUTURE SUPPORT FOR THE XLY, XLK, XLI AND XLF -- SEMICONDUCTOR SPDR CONFIRMS CONTINUATION PATTERN -- FOUR SEMICONDUCTOR STOCKS GOING FOR BREAKOUTS -- THE INTERNET OF EVERYTHING ETF FORMS BULLISH PENNANT -- EBAY HITS AN INTERESTING JUNCTURE

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKING FUTURE SUPPORT FOR THE XLY, XLK, XLI AND XLF... Link for today's video. There is no doubt that the four offensive sector SPDRs are in up trends. First, all four are trading within a few percent of their 52-week highs. Second, current prices are near the upper...   READ MORE 

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USING SEASONALITY TO GET THE EDGE IN RETAIL STOCKS -- COMPARING ABSOLUTE VERSUS RELATIVE SEASONALITY -- SCTR HITS 12-MONTH MILESTONE FOR RETAIL SPDR -- GAP AND KOHLS ARE IN SHORT-TERM UPTRENDS, BUT UNDERPERFORMING

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING SEASONALITY TO GET THE EDGE IN RETAIL STOCKS... Link for today's video. It is a big week for the Retail SPDR (XRT) because the Commerce Department will report December retail sales on Tuesday before the open. The consensus estimate is for a .4% gain in month-to-month retail...   READ MORE 

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WEAK DECEMBER JOBS REPORT PUSHES BOND YIELDS SHARPLY LOWER AND BOND PRICES HIGHER -- THAT ALSO BOOSTS DIVIDEND PAYERS LIKE REITS AND UTILITIES WHICH OFFER BETTER RETURNS THAN BONDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOND YIELD PLUNGES ON WEAK JOBS REPORT... Friday's news that American employers added only 74,000 jobs in December didn't have much of an effect on the broader stock market, but did shock bond investors. Chart 1 shows the 10-Year Treasury Note Yield ($TNX) suffering the...   READ MORE 

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S&P 500 SPDR STALLS AFTER MINI BREAKOUT -- RUSSELL 2000 ETF HITS SHORT-TERM TREND LINE -- 20+ YR T-BOND ETF CONVERTS THE SQUEEZE PLAY -- NON-FARM PAYROLLS: A BLIP OR A NEW REALITY? -- ISM INDICES EXTEND WINNING STREAK

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 SPDR STALLS AFTER MINI BREAKOUT... Link for today's video. The major index ETFs remain in long-term uptrends, but moved into corrective mode after big surges in the second half of December. While I am not looking for a major trend reversal in the stock...   READ MORE 

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$SPX MOVES HORIZONTAL FOR TWO WEEKS -- THE AIRLINES AND RAILS ENJOY LOWER FUEL COSTS -- THE ENERGY SECTOR IS THINNING IN BREADTH -- NATURAL GAS AND COAL ALSO PLUMMET -- $COPPER IS AT A PIVOT POINT

by John Murphy,

Chief Technical Analyst, StockCharts.com

$SPX MOVES HORIZONTAL FOR TWO WEEKS ... Looking at the intraday on Chart 1 of the $SPX with 1 hour candles, the market has been unable to make any real process since the surge after the Fed meeting. The $INDU Chart looks a little weaker as we are trying to find...   READ MORE 

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RISING BOND YIELDS ARE HELPING BANKS, BUT HURTING DIVIDEND PAYING SHARES -- RISING YIELDS ARE ALSO CONTRIBUTING TO WEAKER EMERGING MARKETS -- GOLD IS HURT BY RISING BOND YIELDS AND A NEW SECULAR BULL MARKET IN STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

HIGHER BOND YIELDS ARE HELPING BANKS ... Banks stocks have been market leaders during the first week of the new year. Chart 1 shows the KBW Bank SPDR (KBE) recently hitting a new high. Its relative strength ratio (gray area) has also been rising. Part of that is due to expectations...   READ MORE 

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MIRROR MIRROR ON THE WALL, WHO'S THE STRONGEST SECTOR OF ALL? -- SETTING A BULLISH-BEARISH THRESHOLD FOR HIGH-LOW PERCENT -- RANKING SECTORS AND ANALYZING ROTATION USING THE BPI -- INDUSTRIALS, MATERIALS AND FINANCE LEAD BPI TABLE

by John Murphy,

Chief Technical Analyst, StockCharts.com

MIRROR MIRROR ON THE WALL, WHO'S THE STRONGEST SECTOR OF ALL... Link for today's video. Today's commentary will show chartists two unique ways to measure relative performance for the nine sector SPDRs. Note that today's video provides step-by-step instructions for creating these...   READ MORE 

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USING RSI(5) TO PLAY THE PULLBACKS -- QQQ HITS FIRST SUPPORT ZONE -- TRADING THE THROWBACK AFTER THE BREAK OUT IN ITB -- A CLASSIC CORRECTIVE PATTERN FOR THE EURO -- THE DOLLAR COULD BE SETTING UP FOR A BIG MOVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING RSI(5) TO PLAY THE PULLBACKS... Link for today's video. It looks like stocks are having a New Year's Eve hangover with weakness over the last three days. I would not consider this an omen for the rest of the year just yet though. A...   READ MORE 

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CHANNEL SURFING WITH THE S&P 500 -- USING CCI TO TRADE THE TREND -- MARKET INTERNALS CONFIRM UNDERLYING STRENGTH -- HIGH-LOW LINE CAPTURES SMOOTH UPTREND -- XLY AND XLI SUPPORT A STRONG STOCK MARKET -- FINANCE AND TECHNOLOGY SPDRS START OUTPERFORMING

by John Murphy,

Chief Technical Analyst, StockCharts.com

CHANNEL SURFING WITH THE S&P 500... Link for today's video. The S&P 500 remains in a strong uptrend and is now nearing the upper trend line of a twenty-six month channel. First and foremost, there is no sign of a major top on this...   READ MORE