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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 

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DROP IN GOLD MINERS DOESN'T BODE WELL FOR GOLD -- NASDAQ COMPOSITE APPEARS HEADED FOR TEST OF SUMMER LOW -- APPLE IS NEARING A TEST OF ITS MAY LOW -- PROSPECT FOR JUMP IN DIVIDEND TAX MAY EXPLAIN SELLING IN DIVIDEND PAYING STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND SILVER MINERS FALL BELOW CHART SUPPORT... Stocks tied to gold and silver had a bad week. Chart 1 shows the Market Vectors Gold Miners ETF (GDX) falling below its 200-day average and the support line drawn over its June high. That's bad chart action. Gold prices...   READ MORE 

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FINANCE AND INDUSTRIALS SPDRS BREAK SUPPORT -- QUALCOMM, CISCO AND JUNIPER LEAD NETWORKING STOCKS -- RSI MOVES INTO BEAR ZONE FOR THE S&P 500 -- PERCENT OF SPX STOCKS ABOVE 50-DAY SMA HAS YET TO REACH OVERSOLD LEVELS

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE AND INDUSTRIALS SPDRS BREAK SUPPORT... Link for todays video. The Finance SPDR (XLF) and the Industrials SPDR (XLI) were holding up the best of the four offensive sectors, but these two broke support over the last few days. This indicates that selling pressure is spreading, not narrowing. Note that...   READ MORE 

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S&P 500 BECOMES OVERSOLD AND HITS 200-DAY -- APPLE FORMS HARAMI AFTER SELLING CLIMAX -- MARKING LONG-TERM SUPPORT FOR THE S&P 500 -- DOW BREAKS MEDIUM-TERM TREND LINE -- GOLD HITS RESISTANCE AS SILVER CONSOLIDATES

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 BECOMES OVERSOLD AND HITS 200-DAY... Link for todays video. Stocks are oversold and the S&P 500 is trading near its 200-day moving average. This is a recipe for an oversold bounce or a consolidation. Chart 1 shows the S&P 500 with support...   READ MORE 

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IWM AND SPY BREAKDOWN ON P&F CHARTS -- BIOTECH AND MEDICAL DEVICE ETFS HIT SUPPORT ZONES -- TREASURIES IGNORE QE WITH AN UPSIDE BREAKOUT -- KEY BREADTH INDICATORS BREAKING DOWN -- BOLLINGER BANDS NARROW FOR CORN AND WHEAT ETFS

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM AND SPY BREAKDOWN ON P&F CHARTS... Link for todays video. P&F charts provide unbiased trend information with three features: the pattern at work, the price objective and the trend lines. First, the pattern at work, if any, is listed at the top of each chart....   READ MORE 

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COAL STOCKS TAKE A POST-ELECTION HIT -- SILVER MINERS ETF HOLDS UP, BUT COEUR D ALENE TUMBLES-- GOLD MINERS ETF HOLDS ABOVE CHART SUPPORT -- DOW AND NASDAQ FALL BELOW 200-DAY LINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

CONSOLIDATED ENERGY AND PEABODY TUMBLE AFTER ELECTION... A couple of recent market messages showed new buying taking place in coal stocks. Two of the stronger stocks in that group were Consolidated Energy (CNX) and Peabody Energy (BTU). Unfortunately, those two coal leaders tumbled on Wednesday along with the entire group....   READ MORE 

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NET ADVANCES REFLECT BROAD SELLING PRESSURE -- IWM AND QQQ FAIL AGAIN AT CHANNEL RESISTANCE -- FINANCE SECTOR AND REGIONAL BANKS LEAD LOWER -- OIL AND COPPER PLUNGE -- OIL SERVICES AND METALS-MINING ETFS GET STUNG

by John Murphy,

Chief Technical Analyst, StockCharts.com

NET ADVANCES REFLECT BROAD SELLING PRESSURE... Link for todays video. Selling pressure hit the stock market on Wednesday with broad-based declines affecting most areas. All sectors moved lower. Of the 105 Dow Jones industry groups in the sector summary, only two were up at midday. The DJ US Mortgage Finance...   READ MORE 

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IWM AND QQQ HOLD SHORT-TERM KEY FOR BULLS -- MACD TURNS DOWN FOR DOW INDUSTRIALS SPDR -- XLY AND XLF MAY HOLD SHORT-TERM KEY FOR BEARS -- FLAGS CONTINUE TO FALL FOR XRT AND KRE -- NETWORKING ETF PERKS UP WITH FLAG BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

MACD TURNS DOWN FOR DOW INDUSTRIALS SPDR ... Link for todays video. A lot can happen between now and Wednesday so I am going to focus on the weekly charts for some perspective that will be relatively immune to whatever happens after the election. Stocks have been weak for seven weeks...   READ MORE 

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RUSSELL 2000 ETF TURNS BACK AT CHANNEL RESISTANCE -- TREASURY BOND ETF FORMS CHANNEL WITHIN A CHANNEL -- US DOLLAR INDEX BREAKS OCTOBER HIGHS -- GOLD BREAKS FLAG SUPPORT WITH SHARP DECLINE -- STRENGTH IN DOLLAR WEIGHS ON OIL

by John Murphy,

Chief Technical Analyst, StockCharts.com

RUSSELL 2000 ETF TURNS BACK AT CHANNEL RESISTANCE... Link for todays video. Stocks surged on Thursday and even followed through on Friday morning, but this strength did not last long as selling pressure kicked in after the initial pop. Perhaps the stock market has election jitters. Whatever the case, the...   READ MORE 

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LUMBER NEARS MAJOR BULLISH BREAKOUT -- THAT SHOULD BENEFIT GUGGENHEIM TIMBER ETF -- TIMBER STOCK LEADERS ARE WEYERHAEUSER, INTERNATIONAL PAPER, AND MEAD/WESTVACO -- RISING CHINESE STOCKS INCREASE DEMAND FOR COAL STOCKS WHICH ARE ALSO RALLYING

by John Murphy,

Chief Technical Analyst, StockCharts.com

LUMBER NEARS MAJOR UPSIDE BREAKOUT... Lumber prices surged yesterday after the devastation on the east coast. [I live in New Jersey which was hit especially hard]. There's a lot of rebuilding that's going to be needed as a result And that's going to require...   READ MORE 

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QQQ TAGS THE 200-DAY MOVING AVERAGE -- S&P MIDCAP 400 SPDR FORMS FALLING WEDGE -- DEFENSIVE SECTORS OUTPERFORMING -- UTILITIES SPDR BOUNCES OFF SUPPORT -- BROKEN SUPPORT TURNS RESISTANCE FOR XLY -- TREASURY YIELDS BACK OFF RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ TAGS THE 200-DAY MOVING AVERAGE... Link for todays video. Chart 1 shows the Nasdaq 100 ETF (QQQ) hitting the rising 200-day moving average and the Percent Price Oscillator (PPO) moving into oversold territory. This combination may set the stage for an oversold bounce. Also notice that the 50-61.80%...   READ MORE 

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AUTO STOCKS MAINTAIN UPTREND AHEAD OF KEY REPORT -- GM BECOMES SHORT-TERM OVERSOLD WITHIN UPTREND -- WEEKLY MOMENTUM WANES FOR S&P 500 -- RUSSELL 2000 BACKS OFF LONG-TERM RESISTANCE -- OIL CONTINUES TO UNDERPERFORM STOCK MARKET

by John Murphy,

Chief Technical Analyst, StockCharts.com

AUTO STOCKS MAINTAIN UPTREND AHEAD OF KEY REPORT... Link for todays video. The US equity markets are closed on Monday due to Hurricane Sandy. Even though we are looking at a shortened week, we can expect plenty of fireworks because there are several big economic reports due. Chicago PMI, oil...   READ MORE 

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THREE FALLING PRICE CHANNELS TO WATCH CLOSELY -- COAL ETF CONSOLIDATES AT NECKLINE RESISTANCE -- METALS & MINING SPDR TESTS FIRST SUPPORT -- COPPER FAILS AT RESISTANCE AND BREAKS SUPPORT -- NASDAQ NET NEW HIGHS TURN NEGATIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

THREE FALLING PRICE CHANNELS TO WATCH CLOSELY... Link for todays video. With the major indices weakening since mid September, a number of stocks and ETFs formed falling price channels the last 5-6 weeks. These are usually viewed as corrective patterns that form after a sharp advance. We did indeed see...   READ MORE 

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GOLD AND SILVER MINING ETFS CONSOLIDATE IN UPTRENDS -- BOTH ARE ACTING BETTER THAN THEIR RESPECTIVE COMMODITIES -- SILVER STOCKS ARE DOING MUCH BETTER THAN GOLD MINERS -- SILVER LEADERS ARE COEUR D ALENE MINES, SILVER WHEATON, AND HECLA MINING

by John Murphy,

Chief Technical Analyst, StockCharts.com

MINER ETFS LOOK POISED TO RESUME UPTRENDS ... One of the ways to determine the technical condition of precious metals is to look at how their stocks are performing. Chart 1 shows the Market Vectors Gold Miners ETF (GDX) in a "wedge-like" correction within two declining trendlines and testing...   READ MORE