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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 

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MACD TURNS NEGATIVE FOR S&P 500 -- MARKING NEXT SUPPORT FOR THE RUSSELL 2000 AND NASDAQ 100 -- TRUCKING AND RAIL STOCKS WEIGH ON INDUSTRIALS SECTOR -- DJ RAILROAD INDEX BREAKS FLAG SUPPORT -- DIRECTIONAL INDICATORS CROSS FOR DOLLAR INDEX

by John Murphy,

Chief Technical Analyst, StockCharts.com

MACD TURNS NEGATIVE FOR S&P 500... Link for todays video. The Fed came and went without much fanfare on Wednesday. In fact, this was one of the most subdued Fed days that I have seen in a while. Stocks were flat heading into the announcement and flat heading...   READ MORE 

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MARKET INDEXES SELL OFF AS 50-DAY AVERAGES ARE BROKEN -- NEXT SUPPORT LIES AT 200-DAY LINES -- COMMODITIES SELL OFF WITH STOCKS AS CRUDE FALLS TO A THREE-MONTH LOW -- TREASURY BONDS BOUNCE AS STOCKS SELL OFF

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW BREAKS 50-DAY AVERAGE... The Dow Industrials fell more than 200 points today to turn the market's short-term trend lower. Chart 1 shows the Dow falling well below its 50-day average. The next level of support to watch is the line drawn over its July peak and its...   READ MORE 

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UTILITIES SECTOR PERKS UP IN OCTOBER -- CLOTHING AND ACCESSORIES INDEX WEIGHS ON XLY -- RETAIL APPAREL INDEX UNDERPERFORMS BROADER MARKET -- CRUDE FAILS AT BROKEN SUPPORT -- OIL SERVICE ETF HITS RESISTANCE AT KEY RETRACEMENT

by John Murphy,

Chief Technical Analyst, StockCharts.com

UTILITIES SECTOR PERKS UP IN OCTOBER... Link for todays video. October has been a rough month for the market so far, but the Utilities SPDR (XLU) is holding its own and starting to outperform again. PerfChart 1 shows three offensive sectors (XLF, XLI, XLY) and three defensive sectors (XLU, XLP,...   READ MORE 

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DOW HOLDS RESISTANCE BREAK WITH CONSOLIDATION -- NASDAQ 100 FORMS ANOTHER LOWER HIGH -- CONSUMER DISCRETIONARY AND INDUSTRIALS HOLD THE KEY -- NETWORKING ISHARES TESTS SUPPORT WITH THROWBACK -- REGIONAL BANK SPDR BREAKS DOWN AND UNDERPERFORMS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW HOLDS RESISTANCE BREAK WITH CONSOLIDATION... Link for todays video. The bears have yet to fully arrive as Chart 1 shows the Dow Industrials holding its resistance break with a consolidation the last five weeks. The senior Average broke resistance with the early September surge and broken resistance turned into...   READ MORE 

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TRAVELERS LEADS PROPERTY & CASUALTY INSURANCE STOCKS HIGHER -- LIFE INSURANCE STOCKS ARE ALSO STRENGTHENING -- LEADERS INCLUDE LINCOLN, METLIFE, AND AFLAC -- COAL STOCKS MAY BE BOTTOMING -- LEADERS INCLUDE JAMES RIVER, CONSOLIDATED ENERGY AND PEABODY

by John Murphy,

Chief Technical Analyst, StockCharts.com

TRAVELERS LEADS PROPERTY & CASUALITY INSURANCE GROUP HIGHER... Insurance stocks are attracting a lot of new money into a reviving financial sector. Chart 1 shows the Dow Jones US Property & Casualty Insurance Index surging to the highest level in five years. Its relative strength line (below chart) is starting...   READ MORE 

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SPY CONSOLIDATES AT HIGH LEVEL -- MIXED SECTOR PERFORMANCE TURNS SPY FLAT -- XLF CHALLENGES PRIOR HIGHS AS XLK REMAINS IN CORRECTION -- HOME CONSTRUCTION ETF HITS 52-WEEK HIGH -- SURGE IN EURO PUSHES MONEY INTO RISK-ON MODE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY CONSOLIDATES AT HIGH LEVEL... Link for todays video. The S&P 500 ETF (SPY) remains in an uptrend since early June, but the short-term trend has turned flat with a consolidation the last six weeks. Chart 1 shows SPY hitting a 52-week high in early September. Trading turned...   READ MORE 

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GLOBAL STOCKS RALLY WITH A LOT OF HELP FROM EUROPE -- NASDAQ AND S&P 500 BOUNCE OFF SUPPORT LINES -- FREEPORT MCMORAN COPPER & GOLD LEADS STRONG MATERIAL SECTOR HIGHER

by John Murphy,

Chief Technical Analyst, StockCharts.com

EUROPE LEADS GLOBAL STOCKS HIGHER... A strong performance in Europe is helping propel global stocks higher today. Chart 1 shows Europe 350 iShares (IEV) gaining 1.7% after recently bouncing off its 50-day average. That also puts the IEV in position to exceed its spring high for the second time...   READ MORE 

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S&P 500 TESTS BROKEN RESISTANCE AS MACD WEAKENS -- FEWER S&P 500 STOCKS EXCEEDED THEIR 200-DAY SMAS -- MACD TURNS DOWN FOR THE EUROPEAN TOP 100 INDEX -- STOCHRSI REMAINS BULLISH FOR THE EURO

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 TESTS BROKEN RESISTANCE AS MACD WEAKENS... Link for todays video. The S&P 500 is at its moment-of-truth of truth as it tests broken resistance and MACD rolls over. Chart 1 shows this benchmark index breaking above 1425 and this level turning into support over...   READ MORE 

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CROSSOVER INDICATORS TURNING BEARISH FOR XLY -- INDUSTRIALS SPDR TESTS SUPPORT AND UNDERPERFORMS -- 20+ YEAR T-BOND ETF CHALLENGES RESISTANCE -- GOLD HITS LONG-TERM RESISTANCE -- GOLD SPDR CONSOLIDATES AS DOLLAR FIRMS

by John Murphy,

Chief Technical Analyst, StockCharts.com

CROSSOVER INDICATORS TURNING BEARISH FOR XLY... Link for todays video. The Consumer Discretionary SPDR (XLY) is starting to show relative weakness with a test of the late September low. XLY broke this low with Thursdays close, but rebounded somewhat early Friday. Note that the S&P 500 ETF (SPY)...   READ MORE 

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EAFE ISHARES STILL TESTING MARCH HIGH -- RISING EURO IS GIVING A BOOST TO FOREIGN STOCKS -- EMERGING MARKETS ISHARES CONSOLIDATE IN UPTREND -- CHINESE ISHARES ACHIEVE UPSIDE BREAKOUT -- APPLE CORRECTION IS TESTING SUPPORT LINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

EAFE ISHARES STILL TESTING MARCH HIGH... There's good and bad news in Chart 1 which plots the trend of EAFE iShares (EFA). [EAFE stands for Europe Australasia and Far East]. The bad news is that it has yet to clear its March high (blue line). It did so...   READ MORE 

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NEW TREND EMERGING SIGNAL FROM CCI -- S&P 500 EQUAL-WEIGHT ETF BREAKS FLAG SUPPORT -- NETWORKING AND INTERNET ETFS LEAD TECHS LOWER -- FINANCE SECTOR SHOWS RELATIVE STRENGTH -- US DOLLAR INDEX HOLDS ABOVE FEBRUARY LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

NEW TREND EMERGING SIGNAL FROM CCI... Link for todays video. Before getting too bearish on the stock market, keep in mind that the S&P 500 ETF (SPY) has yet to break its late September low and is just 2% below its 52-week high. In other words, this decline...   READ MORE 

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TECHNICAL RANK FOR QQQ BREAKS BELOW 50 -- IWM BATTLES TO HOLD BREAKOUT -- SEMICONDUCTOR SPDR FORMS TWO HEAD-AND-SHOULDERS PATTERNS -- OIL FALLS BACK BELOW $90 -- ENERGY SPDR FORMS BEARISH PENNANT

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHNICAL RANK FOR QQQ BREAKS BELOW 50... Link for todays video. The Nasdaq 100 ETF (QQQ) and the Russell 2000 ETF (IWM) broke their spring highs in August-September and these are the first levels to watch for signs of a trend reversal. Chart 1 shows QQQ breaking resistance around 68...   READ MORE 

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DEFENSIVE LEADERSHIP SHOWS INVESTORS ARE STILL IN DEFENSIVE MOOD -- RELATIVE WEAKNESS IN SMALL CAPS AND TECHNOLOGY IS A SHORT-TERM WARNING SIGN -- SO IS THE DOWNTURN IN APPLE SHARES

by John Murphy,

Chief Technical Analyst, StockCharts.com

DEFENSIVE LEADERSHIP ... Despite the ability of the U.S. stock market to reach the highest level since 2007, investors still appear to be in a defensive mood. Over the last week, for example, two of the market's strongest groups were healthcare and consumer staples. Charts 1 and 2...   READ MORE 

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TREASURIES DROP AND YIELDS SURGE AFTER EMPLOYMENT DATA -- IWM AND MDY BREAK CONSOLIDATION RESISTANCE -- METALS & MINING SPDR BATTLES BREAKOUT -- COPPER ETF BREAKS FLAG RESISTANCE -- DOLLAR PLUNGES AFTER JOBS REPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

TREASURIES DROP AND YIELDS SURGE AFTER EMPLOYMENT DATA... Link for todays video. The Labor Department reported that the US economy added 114,000 non-farm payrolls (jobs) in September. Also note that non-farm payrolls for July and August were both revised higher, by around 40,000 jobs each. The unemployment rate...   READ MORE 

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IWM, MDY AND QQQ CONSOLIDATE WITH TIGHT RANGES -- MARKETS TURNED RISK AVERSE IN MID SEPTEMBER -- TREASURY YIELDS, EURO AND STOCKS RISE AND FALL TOGETHER -- 10-YEAR TREASURY YIELD CONSOLIDATES BELOW SUPPORT BREAK -- EURO ETF STALLS JUST ABOVE SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM, MDY AND QQQ CONSOLIDATE WITH TIGHT RANGES... Link for todays video. After a sharp decline last week, several of the major index ETFs consolidated with trading ranges the last six days. I am going to look at the Russell 2000 ETF (IWM), S&P MidCap 400 SPDR (MDY)...   READ MORE 

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INVESTORS FAVOR BONDS OVER STOCKS DURING 2012 -- CORPORATE BONDS AND TIPS ARE DOING BETTER THAN TREASURIES -- INVESTORS FAVOR CORPORATE BONDS WHEN STOCKS ARE RISING -- QUANTITATIVE EASING HAS ALTERED BOND-STOCK RELATIONSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

INVESTORS STILL PREFER BONDS OVER STOCKS... Despite the fact that U.S. stocks have done much better than bonds during 2012, investors still prefer bonds. Mutual fund money flows show that investors have pulled money out of stocks funds and put money into bond funds. That may seem strange considering...   READ MORE 

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CORN SURGES OFF SHALLOW RETRACEMENT -- WHEAT SURGES WITHIN CONSOLIDATION -- COFFEE PERKS UP AND CHALLENGES TREND LINE -- SUGAR BOUNCES OFF SUPPORT -- THE BEST EUROPEAN INDICATOR EVER -- FXE HITS RESISTANCE NEAR BROKEN SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

CORN SURGES OFF SHALLOW RETRACEMENT... Link for todays video. Corn dominated the summer news as the drought of the century grabbed lots of headlines. These headlines have largely faded, but the results of the drought may still linger. Chart 1 shows the Corn Fund (CORN) surging from mid June to...   READ MORE 

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FIVE BIG STOCKS THAT ARE UNDERPERFORMING THIS MONTH -- BROKEN RESISTANCE MARKS FIRST SUPPORT FOR SPY -- QQQ UNDERPERFORMS IN SEPTEMBER -- RETAIL SPDRS STARTS TO UNDERPERFORM -- NASDAQ AD VOLUME LINE FORMS BEARISH DIVERGENCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

FIVE BIG STOCKS THAT ARE UNDERPERFORMING THIS MONTH... Link for todays video. While there is no denying the long-term uptrend, chartists should keep in mind that stocks are up substantially since early June and ripe for some sort of corrective period. A correction can involve a pullback or a consolidation....   READ MORE 

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GOLD NEARS TEST OF ITS FEBRUARY HIGH -- AND CONTINUES TO DRAW SUPPORT FROM A FALLING DOLLAR -- GOLD HAS ALREADY REACHED A RECORD HIGH VERSUS THE EURO AND SWISS FRANC -- AN UPTURN IN THE INDIAN RUPEE IS ALSO HELPING GOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD ISHARES NEAR TEST OF FEBRUARY HIGH... The upturn in gold that started a month ago remains intact. Today's upside gap puts the yellow metal in position to challenge its February high. Odds for an upside breakout look good. Gold has a lot going for it at the...   READ MORE 

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SMALL-CAPS AND MID-CAPS LEAD MARKET LOWER -- NDX PERCENT ABOVE 50-DAY FORMS BEARISH DIVERGENCE -- SURGE IN TREASURY BONDS IS NEGATIVE FOR STOCKS -- WHAT ABOUT THE QE3 EFFECT? -- OIL PLUNGES AS NATURAL GAS SURGES

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS AND MID-CAPS LEAD MARKET LOWER... Link for todays video. Even though the major index ETFs remain in uptrends overall, relative weakness in small-caps and mid-caps over the last eight days is a concern. Chart 1 shows the S&P MidCap 400 SPDR (MDY) surging in the first part...   READ MORE 

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HEALTHCARE SHOWS STRENGTH AS INDUSTRIALS SHOW WEAKNESS -- XLI HITS RESISTANCE FROM SPRING HIGHS -- ENERGY BULLISH PERCENT INDEX NEARS ITS MAX -- INDUSTRIALS BULLISH PERCENT INDEX REMAINS IN UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

HEALTHCARE SHOWS RELATIVE STRENGTH AS INDUSTRIALS SHOW RELATIVE WEAKNESS... Link for todays video. Todays market message will focus on sectors and show different ways to measure performance and internal strength for these sectors. First, I will show how to use the Sector PerfChart to compare all nine. Second, I will...   READ MORE 

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UTILITIES SPDR FALLS AS TREASURY YIELDS RISE -- A THROWBACK AND BIG TEST FOR THE STEEL ETF -- OIL FAILS AT KEY RETRACEMENT -- GASOLINE BREAKS RAFF REGRESSION CHANNEL -- VIX SHOWS COMPLACENCY, BUT REMAINS BULLISH OVERALL

by John Murphy,

Chief Technical Analyst, StockCharts.com

UTILITIES SPDR FALLS AS TREASURY YIELDS RISE... Link for today's video. While the Consumer Staples SPDR (XLP) and Healthcare SPDR (XLV) trade near 52-week highs, the Utilities SPDR (XLU) trades near its summer lows and remains the weakest of the three defensive sectors. In fact, XLU is the...   READ MORE 

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REGIONAL BANK ETF BREAKS OUT TO THE UPSIDE -- LEADERS ARE WEBSTER FINANCIAL, FIFTH THIRD BANCORP, AND M&T BANK -- BANK SPDR LAGS BEHIND -- BANK LAGGARDS ARE BANK OF AMERICA AND CITIGROUP -- BANKS AND HOMEBUILDERS REMAIN LINKED

by John Murphy,

Chief Technical Analyst, StockCharts.com

REGIONAL BANK SPDR HITS FOUR YEAR HIGH... Two Thursdays ago I showed the Regional Bank SPDR (KRE) testing major overhead resistance along its 2010 high. Chart 1 shows the KRE breaking through that 2010 barrier to reach the highest level in four years (with help from last week's...   READ MORE 

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POINT & FIGURE EDITION -- USING P&F CHARTS ACROSS TIMEFRAMES -- S&P 500 HAS MAJOR SUPPORT AT 1400 -- S&P 500 BREAKS WEDGE TREND LINE ON SHORT-TERM P&F CHART -- OFFENSIVE SECTORS REMAIN IN UPTRENDS AFTER CLEAR BREAKOUTS

by John Murphy,

Chief Technical Analyst, StockCharts.com

POINT & FIGURE EDITION - USING P&F CHARTS ACROSS TIMEFRAMES... Link for todays video. Todays Market Message will focus on P&F charts. First, we will look at using different timeframes and box sizes to capture different trends. Second, we will show how to use the percentage...   READ MORE 

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A FIFTH WAVE FOR THE S&P 500 -- BUYING PRESSURE WEAKENS AS LONG UPPER SHADOWS FORM -- BEARISH ENGULFINGS FORM IN RETAIL AND HOMEBUILDING SPDRS -- SHANGHAI COMPOSITE FAILS TO FOLLOW WALL STREET -- CHINA IS THE ASIAN ANOMALY

by John Murphy,

Chief Technical Analyst, StockCharts.com

A FIFTH WAVE FOR THE S&P 500 ... Link for todays video. Even though some Elliott rules and guidelines dont fit, the advance from the October low to the September high shows a clear five-wave structure. There are three rules for Elliott Wave. First, wave 2 cannot retrace more...   READ MORE 

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QUANTITATIVE EASING AND THE S&P 500 SINCE 2008 -- XME AND SLX SURGE OFF KEY RETRACEMENTS -- SEMICONDUCTOR ETF SURGES ABOVE EARLY SEPTEMBER HIGH -- AMAT AND TXN BREAK CONSOLIDATION RESISTANCE -- QE3 POINTS TO HIGHER INTEREST RATES AND LOWER T-BOND PRICES

by John Murphy,

Chief Technical Analyst, StockCharts.com

QUANTITATIVE EASING AND THE S&P 500 SINCE 2008... Link for todays video. Stocks surged on Thursday after the Fed announced another round of quantitative easing. Obviously, the stock market is pleased with the announcement. Chart 1 shows the S&P 500 since September 2008 and the yellow...   READ MORE 

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FED COMES THROUGH WITH QE3 -- TREASURY BOND PRICES DROP WITH THE DOLLAR -- STOCKS AND COMMODITIES SOAR -- PRECIOUS METALS LEAD COMMODITY CHARGE -- TREASURY PRICES DROP AS HIGH YIELD BONDS AND TIPS RALLY -- STOCK INDEXES BREAKOUT TO UPSIDE ON RISING VOLUME

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR PLUNGE GIVES BIG BOOST TO COMMODITIES... The Fed announced that it will purchase $40 billion a month in mortgage backed securities which adds to its holdings of long-term securities and ushers in another round of quantitative easing (QE3). The markets have all reacted in predictable fashion. The dollar and...   READ MORE