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INTERMARKET ENVIRONMENT REMAINS POSITIVE FOR STOCKS -- S&P 500 BECOMES OVERBOUGHT ON DAILY CHART -- S&P 500, HOWEVER, IS NOT YET OVERBOUGHT ON WEEKLY CHART -- MATERIALS SECTOR WEIGHS ON BROADER MARKET -- COPPER FORMS LARGE TRIANGLE AND DECLINES IN JANUARY

by John Murphy,

Chief Technical Analyst, StockCharts.com

INTERMARKET ENVIRONMENT REMAINS POSITIVE FOR STOCKS... Link for todays video. The PerfChart below shows the performance for six intermarket ETFs since mid November, which is when the stock market bottomed. Notice that the S&P 500 ETF (SPY), the US Oil Fund (USO) and the Euro Currency Trust (FXE)...   READ MORE 

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10-YEAR TREASURY YIELD SURGES BACK ABOVE 1.9% -- DOLLAR GETS HIT AS EURO SURGES TO 11-MONTH HIGH -- GOLD FAILS AT 1700 AS GLD MOVES SHARPLY LOWER -- GOLD AND SILVER MINERS ETFS BREAK DOWN -- METALS & MINING SPDR FAILS TO HOLD BREAKOUT AND UNDERPERFORMS

by John Murphy,

Chief Technical Analyst, StockCharts.com

10-YEAR TREASURY YIELD SURGES BACK ABOVE 1.9%... Link for todays video. Treasury yields surged and treasury bonds fell after the European Central Bank (ECB) reported that EU banks repaid more of their ECB loans (LTRO) than was expected. This positive news pushed money into riskier assets such as the...   READ MORE 

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DOW INDUSTRIALS HEADING FOR TEST OF 2007 HIGH -- A NEW RECORD HIGH BY INDUSTRIALS WOULD CONFIRM TRANSPORTATION BREAKOUT -- ASSET ALLOCATION SHIFT FROM BONDS TO STOCKS -- ENERGY ETFS NEAR BREAKOUTS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW INDUSTRIALS NEARS 2007 HIGH ... One of the oldest ways to determine the trend of the stock market is to compare the action of the Dow Transports and Industrials. Dow Theory holds that both indexes need to be in uptrends for a market uptrend to exist. As we've...   READ MORE 

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TECHNOLOGY SPDR BREAKS WEDGE RESISTANCE -- GOOGLE AND IBM SURGE WITH BIG GAPS -- METALS & MINING SPDR AND STEEL ETF REVERSE SHORT-TERM FALLS -- 10-YEAR TREASURY YIELD BACKS OFF RESISTANCE -- RSI MOVES ABOVE 70 FOR THE S&P 500 AND DOW INDUSTRIALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHNOLOGY SPDR BREAKS WEDGE RESISTANCE... Link for todays video. The technology sector is getting a big boost from Google and IBM on Wednesday. Both stocks reported earnings on Tuesday and both reacted positively to these reports. IBM is the second largest component in the Technology SPDR (XLK) and Google is...   READ MORE 

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RISING PEAKS AFFIRM LONG-TERM UPTREND IN SPY -- SPY SURGES AND THEN STALLS WITH INDECISIVE CANDLESTICK -- HOUSING STARTS EXTEND UPTREND -- RETAIL SALES REFLECT GROWING ECONOMY -- JOBLESS CLAIMS EXTEND DOWNTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

RISING PEAKS AFFIRM LONG-TERM UPTREND IN SPY... Link for todays video. The long-term trends are clearly up as several major index and sector ETFs recorded 52-week highs this week. Despite these long-term uptrends, short-term conditions are getting quite overbought. The S&P 500 ETF (SPY) is up around 10%...   READ MORE 

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SPY AND MDY STALL WITHIN UPTRENDS -- QQQ DRAWS SHORT-TERM BATTLE LINES -- APPLE FAILS TO HOLD SUPPORT BREAK -- XLF HOLDS GAINS AND CONTINUES TO LEAD -- JP MORGAN AND GOLDMAN HIT NEW HIGHS -- US BANCORP AND WELLS FARGO HOLD NEW YEARS GAPS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND MDY STALL WITHIN UPTRENDS... Link for todays video. Stocks are in an uptrend and upside momentum is slowing, but we have yet to see any signs of significant selling pressure and the uptrends are firmly in place. It is not uncommon for an advance to slow after a...   READ MORE 

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TRANSPORTATION ISHARES HIT NEW RECORD HIGH -- DELTA AIR LINES CLIMBS TO HIGHEST LEVEL IN TWO YEARS -- FEDEX DELIVERS FIVE YEAR HIGH -- GATX CORP ACHIEVES A NEW RECORD -- PLATINUM REACHES THREE MONTH HIGH WHICH MAY LEND SUPPORT TO GOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

TRANSPORTATION ISHARES REACHES NEW HIGH ... Since December, we've been writing about the strong upturn in transportation shares. A December 20 message showed the Dow Transports breaking out of a triangular formation which put them on track to challenge their all-time high. It also showed the DJ Transportation iShares...   READ MORE 

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QQQ STALLS AT KEY RETRACEMENT -- APPLE TRACES OUT BEARISH CONTINUATION PATTERN -- RETAIL SPDR TESTS GAP ZONE -- AAII BULLISH SENTIMENT SURGES ABOVE 40% -- NATURAL GAS FUND SURGES OFF SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ STALLS AT KEY RETRACEMENT... Link for todays video. The Nasdaq 100 ETF (QQQ) and the technology sector came under selling pressure early Monday. Chart 1 shows QQQ surging above 67 with a sharp two day advance on 31-December and 2-January. We have yet to see follow through on this...   READ MORE 

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BREAKOUTS ABOUND, BUT STOCKS ARE GETTING OVERBOUGHT -- RIM RESISTANCE TURNS SUPPORT FOR S&P MIDCAP 400 -- BREAKOUTS HOLD FOR XLY, XLI AND XLF -- DOLLAR TESTS LONG-TERM SUPPORT AS EURO SURGES -- GOLD AND SILVER EXTEND THEIR STALL

by John Murphy,

Chief Technical Analyst, StockCharts.com

BREAKOUTS ABOUND, BUT STOCKS ARE GETTING OVERBOUGHT ... Link for todays video. There is not a lot to be bearish about right now. Small-caps and mid-caps are leading the market higher. The S&P MidCap 400 ($MID) and Russell 2000 ($RUT) both broke resistance and recorded 52-week highs this year....   READ MORE 

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MEDICAL EQUIPMENT STOCKS ARE LEADING HEALTHCARE HIGHER -- GROUP LEADERS ARE STRYKER, WATERS, AND ZIMMER HOLDINGS -- AIR PRODUCTS AND MONSANTO LEAD CHEMICALS HIGHER -- AUTO BREAKOUT MAY BE GIVING BOOST TO STEEL COMPANIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

MEDICAL EQUIPMENT STOCKS SHOW NEW MARKET LEADERSHIP... The market's strongest sector over the past week has been healthcare. By looking at the Sector Summary list for the past week, however, it's possible to see which medical groups have led it higher. Biotechs and pharmaceutical stocks have...   READ MORE 

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TECHNOLOGY SPDR STALLS AT BROKEN RESISTANCE -- IBM AND MICROSOFT WEIGH ON TECH SECTOR -- XLE LAGS BROADER MARKET AND HITS KEY RETRACEMENT -- OIL FORMS HIGHER LOW AND HOLDS BREAKOUT -- DOLLAR ETF SURGES OFF SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHNOLOGY SPDR STALLS AT BROKEN RESISTANCE... Link for todays video. After surging on 31-Dec and 2-Jan, stocks took a breather over the last few days. Chart 1 shows the Technology SPDR (XLK) breaking above its December highs with a huge move. Broken resistance from these highs turns into the first...   READ MORE 

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DOW HOLDS LONG-TERM SUPPORT WITH BIG BOUNCE -- RETAIL SPDR HITS RESISTANCE AS CONSUMER DISCRETIONARY SPDR BREAKS OUT -- QQQ RETREATS FROM OVERBOUGHT LEVELS -- AMAZON HITS NEW HIGH AS APPLE TEST SUPPORT AGAIN

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW HOLDS LONG-TERM SUPPORT WITH BIG BOUNCE... Link for todays video. Lets start the week by stepping back and looking a long-term chart for the Dow Industrials. Chart 1 shows weekly bars for the Dow Industrials with the 104-week simple moving average. This two year moving average captures the long-term...   READ MORE 

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GOLD AND SILVER ETFS FALL BACK TO POTENTIAL SUPPORT -- GOLD MINERS ETF AND BPI EXTEND DOWNTRENDS -- NET NEW HIGHS SURGE TO SEPTEMBER LEVELS -- AD LINE AND AD VOLUME LINE CHALLENGE 2012 HIGHS -- NON-FARM PAYROLLS EXTEND POSITIVE RUN

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND SILVER ETFS FALL BACK TO POTENTIAL SUPPORT... Link for todays video. Gold and silver were knocked quite hard after the Fed minutes on Thursday and continued lower on Friday. Some Fed members think that quantitative easing will slow or end sometime in 2013. This revelation comes after the...   READ MORE 

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RECORD HIGH BY SMALL CAP STOCKS IS A POSITIVE SIGN FOR THE MARKET -- SO IS THE UPSIDE BREAKOUT IN TRANSPORTATION STOCKS -- CHINESE ISHARES HIT 52-WEEK HIGH AND SHOW NEW GLOBAL LEADERSHIP -- THAT'S ALSO GOOD FOR COMMODITY MARKETS AND COPPER IN PARTICULAR

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL CAP INDEX HITS RECORD HIGH... One of the most impressive technical developments of Wednesday's stock surge was the ability of the Russell 2000 Small Cap Index (RUT) to reach a record high. [The S&P 500 Midcap Index did the same]. Chart 1 shows the RUT...   READ MORE 

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STOCKS SURGE AFTER CONGRESS PASSES BILL -- SMALL-CAPS AND MID-CAPS LEAD AS IWM AND MDY FORGE 52-WEEK HIGHS -- TREASURIES PLUNGE AS MONEY MOVES OUT OF SAFE-HAVEN ASSETS -- SEMICONDUCTOR AND NETWORKING STOCKS LEAD TECHNOLOGY SECTOR

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS SURGE AFTER CONGRESS PASSES TAX DEAL... Link for todays video. Stocks surged on the heels of a new year and a new tax deal. Stocks ended the year strong as several major index ETFs formed bullish engulfing patterns on Monday, December 31st. These patterns reflected optimism that Washington would...   READ MORE 

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SPY STALLS BELOW SEPTEMBER HIGH -- EASE OF MOVEMENT INDICATOR IS UNUSUALLY WEAK FOR IWM -- TECHNOLOGY SPDR COULD HOLD THE KEY TO 2013 -- TREASURIES ALSO HOLD AN IMPORTANT CLUE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY STALLS BELOW SEPTEMBER HIGH... Link for todays video. Stocks surged the last two weeks of November and then stalled the last four weeks. The overall trend remains up, but the S&P 500 ETF (SPY) is in danger of forming a lower high. Chartists should watch this carefully...   READ MORE 

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AUTOS ARE NOW THE STRONGEST PART OF DISCRETIONARY SECTOR -- FORD AND GM ARE TESTING 2012 HIGHS -- VOLKSWAGEN TRADES AT THREE YEAR HIGH -- TOYOTA GETS BIG BOOST FROM WEAK YEN -- RETAILERS WEAKEN AS S&P 500 FALLS BELOW 50-DAY LINE

by John Murphy,

Chief Technical Analyst, StockCharts.com

CONSUMER DISCRETIONARY SPDR HAS LED ALL YEAR... The market's two strongest sectors during 2012 have been financials and consumer discretionary. After hitting a new record high earlier this month, the Consumer Discretionary SPDR (XLY) has started to slip a bit, but is still holding up better than the...   READ MORE 

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SETTING MOMENTUM SUPPORT FOR SPY AND QQQ -- S&P 500 STOCKS ABOVE 200-DAY CONTINUES TO IMPROVE -- BULLISH PERCENT INDEX STRUGGLES FOR CONSUMER DISCRETIONARY SECTOR -- FINANCE AND TECH BPIS PICK UP THE SLACK -- OIL MAKES ANOTHER GO AT RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SETTING MOMENTUM SUPPORT FOR SPY AND QQQ... Link for todays video. Chart 1 shows the S&P 500 ETF (SPY) with the True Strength Index generating four oscillator signals over the past year. The True Strength Index is a momentum oscillator that measures the momentum of double-smoothed price changes....   READ MORE 

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FISCAL CLIFF FEARS HIT OVERBOUGHT STOCK MARKET -- TREASURIES ATTRACT MONEY AS SAFE-HAVENS -- US DOLLAR GETS A BOUNCE OFF SUPPORT -- RETAIL SPDR STILL STRUGGLING -- MANY RETAIL STOCKS ARE LAGGING THE S&P 500 -- MERRY CHRISTMAS!

by John Murphy,

Chief Technical Analyst, StockCharts.com

FISCAL CLIFF FEARS HIT OVERBOUGHT STOCK MARKET... Link for todays video. Fiscal cliff fears hit the markets on Friday as money moved from risky assets to relative safe-havens. Also note that stocks and the Euro were quite overbought, while Treasuries and the Dollar were oversold. Perhaps the fiscal cliff was...   READ MORE 

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GOLD AND THE DOLLAR ARE DROPPING TOGETHER WHICH IS UNUSUAL -- THE FALLING YEN MAY HAVE SOMETHING TO DO WITH IT -- SINCE MID-2007, GOLD AND THE YEN HAVE RISEN TOGETHER -- A PEAK IN THE YEN APPEARS TO BE DRAGGING THE PRICE OF GOLD LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND THE DOLLAR ARE FALLING TOGETHER... One of the most consistent intermarket principles is that gold (and most commodities) usually trend in the opposite direction of the U.S. Dollar. That inverse relationship has broken down of late. Chart 1 compares the Gold Trust (GLD) to the Dollar Index...   READ MORE 

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NASDAQ 100 EQUAL-WEIGHT ETF BREAKS BIG TRIANGLE -- 10-YEAR TREASURY YIELD REACHES MOMENT-OF-TRUTH -- GOLD SPDR REACHES CENTER OF LONG CONSOLIDATION -- GOLD MINERS ETF STALLS AT SUPPORT -- HOUSING STARTS DECLINE, BUT UPTREND REMAINS

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ 100 EQUAL-WEIGHT ETF BREAKS BIG TRIANGLE... Link for todays video. The Nasdaq 100 ETF (QQQ) has been under pressure because its biggest component (Apple) fell over 20% from its late September high. Apple accounted for over 20% of the ETF in September, but now accounts for a mere 16....   READ MORE 

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DISCRETIONARY, FINANCIALS, AND INDUSTRIALS ARE HITTING NEW HIGHS WHICH SHOWS INVESTORS TURNING MORE OPTIMISTIC -- INDUSTRIAL LEADERS INCLUDE AIRLINES AND BUILDING MATERIALS -- AIRLINE LEADERS INCLUDE JETBLUE AND SOUTHWEST

by John Murphy,

Chief Technical Analyst, StockCharts.com

THREE SECTOR BREAKOUTS ... Sector performance over the last month has turned more positive for the stock market. The fact that stock sectors sensitive to the economy are leading it higher is a sign of more confidence. In fact, the top three sectors are hitting new 52-week highs today and achieving...   READ MORE 

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HAMMERS, HANGING MEN, SHOOTING STARS AND INVERTED HAMMERS -- SPY FORMS BEARISH CANDLESTICK PAIR -- NASDAQ BATTLES RESISTANCE IN THE 3000 AREA -- BANKING STOCKS CONTINUE TO LEAD MARKET HIGHER -- OIL BOUNCES OFF RANGE SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

HAMMERS, HANGING MEN, SHOOTING STARS AND INVERTED HAMMERS... Link for todays video. The S&P 500 ETF (SPY) got a big bounce in the second half of November and then stalled with opposing candlesticks the first two weeks of December. Before looking at the SPY chart, lets review a...   READ MORE 

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S&P 1500 AD LINE BREAKS OCTOBER HIGHS -- CUMULATIVE NET NEW HIGHS LINE HITS NEW HIGH -- CHARTING RETAIL SALES AND THE S&P 500 -- JOBLESS CLAIMS SPIKE, BUT OVERALL TREND REMAINS DOWN -- SHANGHAI COMPOSITE BREAKS RESISTANCE WITH BIG SURGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 1500 AD LINE BREAKS OCTOBER HIGHS... Link for todays video. StockCharts Pro gives chartists the ability to upload their own data series and chart them as ordinary symbols. I have taken advantage of this feature to create some custom breadth charts. In particular, I uploaded Net Advances,...   READ MORE 

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JAPANESE STOCKS ARE GETTING A BOOST FROM A FALLING YEN -- JAPANESE STOCKS AND THE YEN ARE NEGATIVELY CORRELATED -- EMERGING MARKET ISHARES ARE RISING ALONG WITH EMERGING CURRENCIES AND ARE OUTPERFORMING THE U.S.

by John Murphy,

Chief Technical Analyst, StockCharts.com

FALLING YEN BOOSTS JAPANESE STOCKS ... Foreign markets generally do better when their currencies are rising. That's been the case with Europe over the past few months. It's also been true in emerging markets which have been rising along with their currencies. One major exception to that...   READ MORE 

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S&P 500 CHALLENGES EARLY NOVEMBER HIGHS -- REGIONAL BANK SPDR BREAKS PENNANT RESISTANCE -- TREASURY YIELDS SURGE AS BONDS FALL -- DOLLAR WEAKENS AS FED EXTENDS QE -- GOLD AND OIL REMAIN SUBDUED

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 CHALLENGES EARLY NOVEMBER HIGHS... Link for todays video. The Fed left rates unchanged, but announced intentions to expand quantitative easing in January. In particular, the Fed will start buying $45 billion worth of Treasury securities per month. In its policy statement, the Fed also noted that...   READ MORE 

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TECHS LEAD STOCKS HIGHER -- NASDAQ 100 CLEARS BOTH MOVING AVERAGE LINES -- SEMICONDUCTORS ARE STRONGEST TECH GROUP -- TEXAS INSTRUMENTS ACHIEVES BULLISH BREAKOUT -- FOREIGN STOCK INDEX EXCEEDS SPRING HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ 100 CLEARS MOVING AVERAGE LINES... Stocks are having another strong day. Chart 1 and 2 show the Dow and S&P 500 SPDRs moving above their early November highs. Both indexes cleared their 50-day lines last Friday. Chart 3 shows the Power Shares QQQ Trust moving above its...   READ MORE 

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QQQ AFFIRMS RESISTANCE WITH DARK CLOUD -- RSI HITS RESISTANCE ZONE FOR SPY IWM EXTENDS TIGHT CONSOLIDATION - RETAIL SPDR FORM PENNANT AT RESISTANCE -- CHARTS FOR APPLE, MICROSOFT, GOOGLE, ORACLE AND AMAZON

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ AFFIRMS RESISTANCE WITH DARK CLOUD... Link for todays video. The Nasdaq 100 ETF (QQQ) further affirmed resistance just above 66 with a dark cloud pattern last week. Based on the three weekly highs in October, I first set resistance here in the 28-Nov Market Message Resistance. Dark clouds form...   READ MORE 

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INDUSTRIALS SPDR CHALLENGES RESISTANCE -- DOLLAR SURGES ON BETTER-THAN-EXPECTED EMPLOYMENT REPORT -- GASOLINE BREAKS DOWN AS XLE FORMS BEARISH WEDGE -- MARKING NEXT SUPPORT ZONE FOR GOLD -- GERMAN AND FRENCH INDICES HIT NEW HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

INDUSTRIALS SPDR CHALLENGES RESISTANCE ... Link for todays video. The Industrials SPDR (XLI) is showing some relative strength with a surge all the way to its early November high. Also notice that this high corresponds with the September-October high and a breakout here would forge a 52-week high. Yes, XLI is...   READ MORE 

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FOREIGN STOCKS TEST SPRING HIGH AND MAY BE ON VERGE OF BULLISH BREAKOUT -- SINCE GLOBAL STOCKS ARE HIGHLY CORRELATED, THAT WOULD GIVE A BOOST TO U.S. SHARES AS WELL -- DOW AND S&P 500 ARE TRYING TO CLIMB OVER THEIR 50-DAY LINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGN STOCKS NEAR UPSIDE BREAKOUT... Foreign stocks look technically stronger than the U.S. at the moment. Tuesday's message showed EAFE iShares testing their spring high. Emerging markets are rising as well. A more comprehensive measure of foreign stocks that includes developed and emerging markets is shown below....   READ MORE 

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SMALL AND MID-CAPS START LEADING THE STOCK MARKET -- CITIGROUP AND BANK OF AMERICA LEAD FINANCE SPDR HIGHER -- BASIC MATERIALS SPDR TESTS SHORT-TERM SUPPORT AFTER FCX DEAL -- HOUSING STOCKS LEAD CONSUMER DISCRETIONARY SECTOR LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL AND MID-CAPS START LEADING THE STOCK MARKET... Link for todays video. Even though the stock market looks quite mixed overall, small-caps and mid-caps are starting to outperform and this could be positive. Chart 1 shows the S&P MidCap 400 SPDR (MDY) moving all the way back to...   READ MORE 

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FALLING DOLLAR AND RISING EURO SINCE SUMMER ARE CAUSING FOREIGN SHARES TO OUTPERFORM THE U.S. -- EAFE ISHARES ARE TESTING SPRING HIGH -- APPLE IS FAILING A TEST OF ITS 200-DAY AVERAGE -- THE NASDAQ IS IN DANGER OF FALLING BACK BELOW ITS 200-DAY LINE

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGN STOCKS OUTPERFORM USA SINCE THE SUMMER... Chart 1 compares the S&P 500 to EAFE iShares (EFA) over the last two years. Although both lines have risen and fallen together (as they usually do), their rates of ascent have differed. Both bottomed during the fourth quarter of last...   READ MORE 

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STOCKS PULLBACK AND TREASURIES BOUNCE AFTER ISM -- HOUSING ETFS FORM BROADENING PATTERNS -- TIMBER ETF AND LUMBER FUTURES HIT NEW HIGHS -- OIL & GAS EQUIPMENT/SERVICES SPDR CHALLENGES RESISTANCE -- OIL ETF CHALLENGES NOVEMBER HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS PULLBACK AND TREASURIES BOUNCE AFTER ISM... Link for todays video. Its could be a big week for the treasury market - and possibly the stock market too. No, I do not think we will see a resolution to the fiscal cliff this week. Instead, it is a big week...   READ MORE 

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SETTING SUPPORT FOR THE CURRENT UPSWING -- QQQ FORMS SPINNING TOP AT RESISTANCE -- GOLD MINERS ETF BOUNCES OFF FIBONACCI RETRACEMENT -- SEMICONDUCTOR SPDR STARTS OUTPERFORMING -- MV SEMICONDUCTOR ETF SURGES TO RESISTANCE -- TAIWAN SEMI LEADS AS INTEL LAGS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SETTING SUPPORT FOR THE CURRENT UPSWING... Link for todays video. The current two-week stock market advance is the biggest since September. The Russell 2000 ETF (IWM) is up around 7%, the Nasdaq 100 ETF (QQQ) is up around 6% and the S&P 500 ETF (SPY) is up around...   READ MORE 

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STOCKS TRY TO EXTEND REBOUND -- RISING EURO BOOSTS EUROPEAN STOCKS -- FISCAL CLIFF MAY BE DRIVING SOME MONEY TO EUROPE

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCK INDEXES CLIMB BACK OVER 200-DAY LINES... Chart 1 shows the Dow Industrials climbing back over its 200-day moving average. It still needs to clear its 50-day line and initial chart resistance near 13300 to turn its short-term trend higher. The Dow bounced off chart support along its July lows...   READ MORE 

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QQQ REMAINS SHORT OF BREAKOUT -- MID-CAPS SHOWING RELATIVE STRENGTH -- FINANCE AND BANKING ETFS TURN BACK AT BROKEN SUPPORT -- MATERIALS STALLS AT RESISTANCE -- METALS/MINERS, SILVER MINERS AND STEEL ETFS HIT RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ REMAINS SHORT OF BREAKOUT... Link for todays video. The Nasdaq 100 ETF (QQQ) surged with the rest of the market last week, but has yet to follow through and produce a meaningful breakout. Chart 1 shows QQQ falling over 10% with a move below 62 and then rebounding with...   READ MORE 

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S&P 500 AND DOW SURGE INTO RESISTANCE ZONES -- CONSUMER DISCRETIONARY SECTOR SHOWS RELATIVE STRENGTH -- XLY BREAKS CHANNEL TREND LINE -- OIL CONSOLIDATES WITHIN DOWNTREND -- ENERGY ETFS TIED TO PRICE OF CRUDE -- GOLD ETF STALLS AT KEY RETRACEMENT

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 AND DOW SURGE INTO RESISTANCE ZONES... Link for todays video. Stocks caught a strong bid Thanksgiving week as the S&P 500 and the Dow Industrials surged back towards broken support. Despite some impressive gains since November 19th, resistance is at hand and the going...   READ MORE 

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HOMEBUILDING STOCKS GAVE EARLY SIGNAL OF HOUSING TOP AND HOUSING BOTTOM -- THAT'S JUST ANOTHER EXAMPLE OF CHART SIGNALS ACTING AS A LEADING INDICATOR OF MARKET FUNDAMENTALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

THIS IS WHY WE FOLLOW CHARTS ... We've been treated to a lot of bullish news on the housing sector over the last month. Builders broke ground on more homes during October. Residential construction rose last month at the highest rate in more than four years. Permits for new...   READ MORE 

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QQQ FOLLOWS THROUGH ON HAMMER -- IWM TRACES OUT A FLEXIBLE MORNING STAR REVERSAL -- BROKEN SUPPORT TURNS FIRST RESISTANCE FOR FINANCE SPDR -- 200-DAY SMA COMES IN PLAY FOR STOCKS, TREASURIES AND THE DOLLAR -- OIL CHALLENGES FIRST RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ FOLLOWS THROUGH ON HAMMER... Link for todays video. Programming note: I will be taking some time off for Thanksgiving and be back on November 27th. Stocks surged on Monday with the Nasdaq 100 ETF (QQQ) and the Russell 2000 ETF (IWM) leading the charge. These two led the way...   READ MORE 

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HIGH-BETA STOCKS STILL SHOW RELATIVE WEAKNESS -- RUSSELL 2000 HEADS TOWARD RETRACEMENT ZONE -- NASDAQ RATE-OF-CHANGE HITS OVERSOLD ZONE -- KEY SECTOR BULLISH PERCENT INDICES BREAK 50% -- RSI FOR TECHNOLOGY BPI TURNS BEARISH

by John Murphy,

Chief Technical Analyst, StockCharts.com

HIGH-BETA STOCKS STILL SHOW RELATIVE WEAKNESS... Link for todays video. The Russell 2000 ($RUT) and Nasdaq remain laggards and continue to undermine the broader market. In general, the Russell 2000 represents small-cap stocks and the Nasdaq represents technology stocks. Smaller companies are more dependent on the domestic economy and tend...   READ MORE