Members Only

MEMBERS ONLY

BROKEN SUPPORT TURNS FIRST RESISTANCE FOR SPY -- QQQ AND IWM BOUNCE AFTER INVERTED HAMMERS -- SEMIS, INTERNET AND RETAIL ETFS SHOW RELATIVE WEAKNESS -- HOME CONSTRUCTION ISHARES HOLDS NOVEMBER LOW -- OIL SERVICE HOLDRS UNDERPERFORMS OIL

by John Murphy,

Chief Technical Analyst, StockCharts.com

BROKEN SUPPORT TURNS FIRST RESISTANCE FOR SPY... Link for todays video. Stocks moved sharply higher in early trading as rumors swirled that EU leaders were poised to deliver another rescue package. Recent history shows us that speculating on prospective deals or rumors is a lesson in futility. We can be...   READ MORE 

MEMBERS ONLY

RISING DOLLAR HAS NEGATIVE IMPACT ON US STOCKS AND COMMODITIES -- IT'S ALSO CAUSING FOREIGN SHARES TO FALL FASTER -- WHILE TREASURIES RALLY, CORPORATE BONDS FALL WITH STOCKS -- DEFENSIVE LEADERSHIP IS ANOTHER BAD SIGN FOR MARKET

by John Murphy,

Chief Technical Analyst, StockCharts.com

RISING DOLLAR PUSHED GLOBAL STOCKS AND COMMODITIES LOWER... Stocks and commodities fell together this week. That isn't surprising since both asset classes have been positively correlated all year. Chart 1 shows the S&P 500 ending the week at a two-month low and well below both moving...   READ MORE 

MEMBERS ONLY

TREASURIES AND DOLLAR LEAD SAFE-HAVEN TRADE -- GOLD FIRMS DESPITE THE PLUNGE IN STOCKS -- LONG-TERM RATES REVISIT 2008 LEVELS -- ELLIOTT WAVE COUNT POINTS TO 3 OF 3 FOR S&P 500 -- HAPPY THANKSGIVING!

by John Murphy,

Chief Technical Analyst, StockCharts.com

TREASURIES AND DOLLAR LEAD SAFE-HAVEN TRADE... Link for todays video. November is turning out to be as risk-off as October was risk-on. Stocks, the Euro and oil surged in October as the financial markets embraced risk. Confidence started to waver at the end of October and turned completely risk-adverse the...   READ MORE 

MEMBERS ONLY

MOVING AVERAGE TRENDS REMAIN BEARISH -- MORE THAN HALF NYSE STOCKS HAVE FALLEN BACK BELOW 50-DAY AVERAGES -- THE FACT THAT CONSUMER STAPLES ARE DOING BETTER THAN DISCRETIONARY STOCKS THIS YEAR IS A NEGATIVE WARNING

by John Murphy,

Chief Technical Analyst, StockCharts.com

50-DAY LINES REMAIN BELOW 200-DAY... One of the advantages of using moving averages is that they simplify the study of market trends. They tell us the current trend of the market and what needs to happen to reverse that trend. A comparison of 50- and 200-day moving averages is a...   READ MORE 

MEMBERS ONLY

S&P 500 ETFS BREAK SUPPORT WITH SHARP DECLINE -- STRONG DOLLAR IS NEGATIVE FOR STOCKS AND POSITIVE FOR TREASURIES -- GOLD REVERSES AT KEY RETRACEMENT -- STRONG DOLLAR WEIGHS ON SILVER

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 ETFS BREAK SUPPORT WITH SHARP DECLINE... Link for todays video. The S&P 500 ETF (SPY) and the Rydex S&P Equal Weight ETF (RSP) both broke support with sharp declines early Monday. SPY is based on the traditional S&P 500, which...   READ MORE 

MEMBERS ONLY

RUSSELL 2000 ETF TURNS BACK AT KEY RETRACEMENT -- S&P 500 ETF HITS RESISTANCE AT AUGUST SUPPORT BREAK -- XLK, XLY AND XLI HOLD OCTOBER BREAKOUTS -- RISING TREASURY PRICES ARE NEGATIVE FOR STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

RUSSELL 2000 ETF TURNS BACK AT KEY RETRACEMENT... Link for todays video. If the stock market were to decline 20% over the next six months, chartists would no doubt be able to look back and identify the bearish signals that led to this decline. This is called hindsight. The key,...   READ MORE 

MEMBERS ONLY

GLOBAL STOCKS AND COMMODITIES FALL HARD -- SILVER LOSES 6% -- A LOT OF SUPPORT LEVELS WERE BROKEN -- AUSTRALIAN DOLLAR IS HARDEST HIT FOREIGN CURRENCY -- TREASURIES RISE WHILE CORPORATES FALL -- S&P 500 BREAKS CHART SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

COMMODITIES FALL HARD AS WELL ... Stocks and commodities both fell pretty hard today all around the world. Chart 1 shows the Commodities Tracking Fund (DBC) falling more than 2% to end back below its 50-day average. All commodity groups fell. The day's worst drop was seen in silver....   READ MORE 

MEMBERS ONLY

LONGER-TERM INDICATORS ARE STILL NEGATIVE -- % NYSE STOCKS ABOVE 200-DAY AVERAGE STILL IN BEAR TERRITORY -- SO ARE WEEKLY AND MONTHLY MACD LINES -- TODAY'S BREAKING OF SUPPORT IS TURNING SHORT-TERM TREND LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

NYSE % ABOVE 200 MA STILL IN BEAR MARKET... I'm going to focus on some longer term indicators today. And, right now, the ones I'm looking at still warrant a lot of caution. Chart 1, for example, shows the % NYSE stocks trading above their 200-day moving average...   READ MORE 

MEMBERS ONLY

IWM CHALLENGES PENNANT TRENDLINE -- FINANCE SECTOR SHOWS RELATIVE WEAKNESS -- FINANCE SPDR TESTS SUPPORT -- LIBOR MOVES SHARPLY HIGHER -- US AND UK STOCKS OUTPERFORMING EUROPEAN STOCKS -- GERMAN DAX HOLDS KEY SUPPORT LEVEL

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM CHALLENGES PENNANT TRENDLINE... Link for todays video. Stocks were mixed most of Wednesday, but small-caps were showing some relative strength with modest gains. Chart 1 shows the Russell 2000 ETF (IWM) breaking resistance in late October and then consolidating the last few weeks. There are reasons to expect resistance...   READ MORE 

MEMBERS ONLY

OIL SERVICE HOLDRS AND TRANSPORT ISHARES FORM PENNANTS -- SEMIS AND REGIONAL BANKS CONTINUE SHOWING RELATIVE STRENGTH -- RETAILERS IN THE SPOTLIGHT ON TUESDAY -- NETWORKING ISHARES BREAKS DOUBLE BOTTOM RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

OIL SERVICE HOLDRS AND TRANSPORT ISHARES FORM PENNANTS... Link for todays video. With flat trading the last few weeks, a number of stocks and ETFs formed pennant or triangle consolidations. John Murphy noted this pattern in the S&P 500 on Friday. Pennants and triangles are usually continuation patterns...   READ MORE 

MEMBERS ONLY

MARKETS END WEEK ON A STRONG NOTE -- S&P 500 STAYS IN TWO-WEEK TRADING RANGE -- TRIANGULAR SHAPE OF THAT RANGE SUGGESTS UPSIDE RESOLUTION -- HIGHER EUROPEAN SHARES ARE ALSO HELPING -- FALLING DOLLAR BOOSTS GOLD AND COMMODITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 STAYS IN SHORT-TERM CONSOLIDATION PATTERN ... The bars in Chart 1 pretty much tell the story of the week's trading. After all is said and done, very little changed from a trending standpoint. That has kept the S&P 500 in a two-week holding...   READ MORE 

MEMBERS ONLY

ITALIAN BOND ETN PLUNGES TO NEW LOW -- ITALIAN INDEX FORMS BEARISH CONTINUATION PATTERN -- EURO 100 INDEX REMAINS HIGHLY CORRELATED TO S&P 500 -- RENKO CHARTS FILTER NOISE AND SHOW SUPPORT -- SPX BULLISH PERCENT REMAINS IN UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

ITALIAN BOND ETN PLUNGES TO NEW LOW... Link for todays video. The markets remain fixated on the European sovereign debt issues and, in particularly, Italian bond yields. While I cannot offer deeper insight into Italian politics, I can make a pretty good Bolognese and can analyze key charts pertaining to...   READ MORE 

MEMBERS ONLY

STOCK RALLY IS IN JEOPARDY AS MARKETS FALL BACK BELOW 200-DAY AVERAGES -- TEST OF SUPPORT IS LIKELY -- RISING DOLLAR PUTS DOWNSIDE PRESSURE ON COMMODITIES -- US TREASURY BONDS ARE RALLYING

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 BACK BELOW 200-DAY AVERAGE... This is a bad time for stocks to experience heavy selling. That's because the market has been struggling with its 200-day moving average which is the defining point between bull and bear markets. Evidence still suggests that the October rebound...   READ MORE 

MEMBERS ONLY

SPIKE IN ITALIAN YIELDS CAUSES HEAVY SELLING IN EURO STOCKS -- US STOCKS EXPECTED TO OPEN SHARPLY LOWER -- THAT PUTS THE RECENT RALLY IN JEOPARDY

by John Murphy,

Chief Technical Analyst, StockCharts.com

50-DAY AVERAGES IN JEOPARDY AGAIN... Yesterday's optimism about the turn of events in Italy has proved to be very short-lived. Italian bond yields have spiked over 7% for the first time since the Euro was created. The breaking of that threshold is causing heavy selling of European stocks....   READ MORE 

MEMBERS ONLY

WALMART NEARS TEST OF ALL-TIME HIGH -- CVS NEARS THREE-YEAR HIGH -- ELI LILLY NEARS 52-WEEK HIGH AND MAY BREAK SEVEN-YEAR DOWN TRENDLINE -- EAFE AND ITALY ISHARES BOUNCE OFF 50-DAY AVERAGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

WALMART NEARS TEST OF 2008 HIGH... In my Market Message on October 20, I showed Wal Mart starting to catch fire for the first time in a long time. The big retailer was been showing new upside leadership in the market. That's not necessarily a good sign for...   READ MORE 

MEMBERS ONLY

FOREIGN STOCK ETFS ARE THREATENING 50-DAY MOVING AVERAGES -- WHILE US INDEXES STRUGGLE WITH 200-DAY LINES -- 10 YEAR YIELD FALLS BELOW ITS 50-DAY LINE -- NEWMONT MINING NEARS RECORD HIGH -- PFIZER SHOWS NEW HEALTHCARE LEADERSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGN ETFS THREATEN 50-DAY AVERAGE... Foreign stocks have been acting worse than U.S. stocks over the past couple of weeks. Having recently failed tests of their 200-day averages, a number of foreign stock ETFs are retesting their 50-day lines. Chart 1 shows EAFE iShares (EFA) having gapped lower last...   READ MORE 

MEMBERS ONLY

MARKING KEY SUPPORT LEVELS FOR THE OFFENSIVE SECTORS -- CONSUMER DISCRETIONARY SPDR HOLDS RESISTANCE BREAKOUT -- TECHNOLOGY SECTOR LAGGING THE PAST MONTH -- TREASURY BOND ETFS BREAK FALLING WEDGE RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKING KEY SUPPORT LEVEL FOR THE OFFENSIVE SECTORS... Link for todays video. Earlier this week I noted that the Nasdaq 100 ETF, the Russell 2000 ETF and the S&P 500 ETF were testing broken resistance. The October surges produced breakouts and it was important that these resistance breakouts...   READ MORE 

MEMBERS ONLY

GOLD STOCKS CONTINUE TO STRENGTHEN -- MORE THAN 50% ARE NOW IN UPTRENDS -- GOLD LEADERS ARE RANDGOLD, IAMGOLD, AND ROYAL GOLD -- NEWMONT MINING HAS BEEN SHOWING NEW RELATIVE STRENGTH OF LATE AND MAY PROVIDE GOOD GOLD VALUE

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD STOCKS START TO SHINE AGAIN... My Market Message from Tuesday of last week (October 25) wrote about new signs of strength emerging from an oversold gold-mining group. It showed the Market Vectors Gold Miners ETF (GDX) bouncing off chart support along its 2011 reaction lows (see circles in Figure...   READ MORE 

MEMBERS ONLY

NASDAQ 100 ETF TESTS IMPORTANT SUPPORT LEVEL -- INTERNET ETF STALLS AT KEY RETRACEMENT -- ELLIOTT WAVE COUNTS SUGGESTS ABC CORRECTION UNDERWAY IN $SPX -- SETTING HEIKIN-ASHI SUPPORT FOR SPY -- GOLD HOLDS RESISTANCE BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ 100 ETF TESTS IMPORTANT SUPPORT LEVEL... Link for todays video. Chart 1 shows the Nasdaq 100 ETF (QQQ) testing support from the mid October lows. Support there stems from two spike lows in October and Tuesdays low. This is an important test because a support break here would reverse...   READ MORE 

MEMBERS ONLY

GREEK DEBT REFERENDUM SENDS GLOBAL STOCKS AND COMMODITIES TUMBLING -- BONDS ARE ONLY WINNERS -- GERMAN AND FRENCH SHARES NEGATE LAST THURSDAY'S UPSIDE ACTION -- U.S. STOCK INDEXES FALL BACK BELOW THEIR 200-DAY AVERAGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

EUROPEAN STOCKS TUMBLE ... The surprise announcement that Greece will hold a voter referendum on the European bailout plan has thrown the entire rescue plan into doubt and has unsettled global markets. European shares tumbled on the news and everyone else with them. Charts 1 and 2 show French and German...   READ MORE 

MEMBERS ONLY

STOCKS GIVE UP MOST OF THURSDAYS SURGE WITH SHARP DECLINE -- UTILITIES SECTOR HAS THE STRONGEST CHART -- EURO PLUNGES AS RUMOR BECOMES NEWS -- STRONG DOLLAR WEIGHS ON MATERIALS AND ENERGY SECTORS -- FRENCH AND GERMAN INDICES FOLLOW EURO LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS GIVE UP MOST OF THURSDAYS SURGE WITH SHARP DECLINE... Link for todays video. Stocks took it on the chin Monday with a broad decline that affected all sectors. The Euro kicked things off with a sharp decline. This move put the market in risk-off mode, which means money moves...   READ MORE 

MEMBERS ONLY

NETWORKING ISHARES BREAKS DOUBLE BOTTOM RESISTANCE -- HIGH YIELD BOND ETFS CHALLENGE SUMMER HIGHS -- BREADTH IMPROVES AS NEW 52-WEEK HIGHS EXPAND -- NASDAQ AND NYSE AD VOLUME LINES BREAK RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

NETWORKING ISHARES BREAKS DOUBLE BOTTOM RESISTANCE... Link for todays video. Chart 1 shows the Networking iShares (IGN) gapping up and breaking Double Bottom resistance with a surge above 29. I showed this chart on August 5th as the ETF had just formed a big bullish engulfing at support. IGN extended...   READ MORE 

MEMBERS ONLY

EURO DEBT DEAL AND STRONG GDP REPORT GIVE BIG BOOST TO GLOBAL STOCKS -- EUROPE LEADS RALLY -- DOLLAR DROP BOOSTS COMMODITIES AS BONDS DROP -- S&P 500 IS TESTING 200-DAY AVERAGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO DEAL GIVE GIVE BOOST TO EUROPEAN MARKETS ... The overnight announcement of a Euro debt deal is giving a huge boost to global stocks this morning. The biggest gains are in Europe. Chart 1 shows the Euro surging 1.6% to move back above its 200-day average. Chart 2 shows...   READ MORE 

MEMBERS ONLY

QQQ SHOWS RELATIVE WEAKNESS -- RSI STALLS IN RESISTANCE ZONE FOR QQQ -- SPY TESTS DOUBLE BOTTOM BREAKOUT -- GOLD SURGES OFF LONG-TERM SUPPORT -- GLD NEGATES BEAR FLAG WITH UPSIDE BREAKOUT -- SILVER ETF MOVES ABOVE RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQ STARTS SHOWING RELATIVE WEAKNESS ... Link for todays video. The Nasdaq 100 ETF (QQQ) was a market leader from June to September, but is turning into a market laggard here in October. Chart 1 shows QQQ surging off support in early October with a move above 58. The ETF was...   READ MORE 

MEMBERS ONLY

DOW AND NASDAQ STRUGGLE WITH RESISTANCE AT THEIR 200-DAY AVERAGES -- TODAY'S GOLD BUYING MAY BE TIED TO STOCK SELLING -- GOLD MINER ETF IS BOUNCING OFF CHART SUPPORT AT ITS SUMMER LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

IMPORTANT TEST OF RESISTANCE... Charts 1 and 2 show the Dow Industrials and Nasdaq Composite Index struggllng with important resistance at their 200-day averages. The fact that those resistance lines are declining makes them even more formidable resistance (a declining 200-day line is more negative than a rising 200-day line)...   READ MORE 

MEMBERS ONLY

IWM AND MDY BREAK CONSOLIDATION RESISTANCE -- INDUSTRIALS SPDR EXCEEDS PRIOR HIGHS -- INTERNET ETF SURGES THROUGH FLAG RESISTANCE -- OIL FOLLOWS STOCKS HIGHER AS WTI MOVES ABOVE $90 -- TREASURY ETFS FIRM DESPITE RISK-ON ENVIRONMENT

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM AND MDY BREAK CONSOLIDATION RESISTANCE... Link for todays video. The S&P 500 ETF and Dow Industrials SPDR broke consolidation resistance last week. Not to be left behind, the Russell 2000 ETF (IWM) and S&P MidCap 400 SPDR (MDY) followed suit with breakouts on Monday. With...   READ MORE 

MEMBERS ONLY

SPY AND DIA MAKE BREAKOUT BIDS -- CONSUMER DISCRETIONARY SECTOR LEADS HIGHER -- STEEL ETF AND AIRLINE ETF FORM FLAG CONSOLIDATIONS -- HOMEBUILDING ETFS GO FROM LAGGARDS TO LEADERS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND DIA MAKE BREAKOUT BIDS... Link for todays video. Stocks came charging out of the gates on Friday with the Dow Industrials SPDR (DIA) and the S&P 500 ETF (SPY) making breakout bids. Chart 1 shows DIA gapping above 116 on the open in a bid to...   READ MORE 

MEMBERS ONLY

EMERGING MARKET ISHARES FAIL TEST OF 50-DAY LINE WHILE S&P 500 AND NASDAQ BACK OFF FROM RESISTANCE BARRIERS -- CONSUMER DISCRETIONARY SPDR STALLS AT 200-DAY LINE -- WAL MART NEARS 52-WEEK HIGH AND IS CONSUMER STAPLE LEADER

by John Murphy,

Chief Technical Analyst, StockCharts.com

EMERGING MARKET RALLY DISAPPOINTS... Two Thursdays ago (October 6) I showed Emerging Market iShares (EEM) scoring an upside weekly reversal from important support at its mid-2010 low. I took that as one of the signs that the global selloff was putting in a fourth quarter bottom. Since then, however, the...   READ MORE 

MEMBERS ONLY

SMALL-CAPS SHOW RELATIVE WEAKNESS -- BROKEN RESISTANCE TURNS FIRST SUPPORT FOR XLY -- TECH SPDR FORMS EXHAUSTION GAP -- BASE METALS ETF TURNS DOWN AFTER SHORT BOUNCE -- BASIC MATERIALS SPDR IS HIGHLY CORRELATED TO BASE METALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL AND MID-CAPS CONTINUE TO SHOW RELATIVE WEAKNESS... Link for todays video. With the August-September trading range, the peaks in late August and mid September established resistance levels for the major index ETFs. The S&P 500 ETF (SPY) edged above these highs with a close above 122 on...   READ MORE 

MEMBERS ONLY

S&P 500 HAS REACHED FIRST UPSIDE TARGET BUT SHOULD REACH HIGHER LEVELS DURING FOURTH QUARTER -- DISCRETIONARY AND TECHNOLOGY LEADERSHIP IS POSITIVE SIGN -- REGIONAL BANKS LOOK BETTER -- % OF NYSE ABOVE 50-DAY AVERAGES IS CLIMBING

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 HAS REACHED TOP OF WAVE FOUR ... Two Thursdays ago (October 6) I suggested that the S&P 500 had completed a five-wave decline which should lead to a fourth quarter rebound. I also suggested that the rebound would reach the top of wave 4 which...   READ MORE 

MEMBERS ONLY

DOW INDUSTRIALS AND TRANSPORTS TURN BACK AT RESISTANCE -- WELLS FARGO WEIGHS ON THE FINANCE SPDR -- DOLLAR ETF BOUNCES NEAR BROKEN RESISTANCE -- GOLD FOLLOWS DOLLAR LOWER -- SILVER ETF STALLS AT RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW INDUSTRIALS AND TRANSPORTS TURN BACK AT RESISTANCE... Link for todays video. Stocks moved lower on Monday with a broad decline hitting all sectors. Financial media blamed the decline on comments from German Chancellor Merkel, who poured cold water on the prospects for a comprehensive solution to European debt issues....   READ MORE 

MEMBERS ONLY

SPY CHALLENGES RESISTANCE AGAIN -- S&P 500 EQUAL WEIGHT ETF STILL SHOWS RELATIVE WEAKNESS -- ELLIOTT WAVE SUGGESTS AN ABC CORRECTION IN PROGRESS -- TECHNOLOGY, CONSUMER DISCRETIONARY AND UTILITIES LEAD -- TREASURIES EXTEND DECLINE AFTER RETAIL SALES JUMP

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY CHALLENGES RESISTANCE AGAIN... Link for todays video. Chart 1 shows the S&P 500 ETF (SPY) moving back above 121 in early trading on Friday and once again challenging resistance. Resistance here stems from broken support and the prior peaks in late August and mid September. So far,...   READ MORE 

MEMBERS ONLY

1000 POINT SURGE PUTS DOW AT RESISTANCE ZONE -- EURO RETRACES 50% OF SEPTEMBER DECLINE -- LEARNING FROM PRIOR REVERSALS AND FAILURES -- 2010 INVERSE HEAD-AND-SHOULDERS BOTTOM -- 2008 DOUBLE BOTTOM AND RISING WEDGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

1000 POINT SURGE PUTS DOW AT RESISTANCE ZONE... Link for todays video. The risk-on trade continued its run as stocks moved higher again on Wednesday. Traders move into riskier assets with the risk-on trade and shun riskier assets with the risk-off trade. Risk-on favors stocks, the Euro and commodities. Risk-off...   READ MORE 

MEMBERS ONLY

FALLING DOLLAR BOOSTS STOCKS AND COMMODITIES -- BOND PRICES DROP AS YIELDS JUMP -- IT'S ALWAYS BETTER WHEN INTERMARKET INFLUENCES CONFIRM INDIVIDUAL CHART ANALYSIS

by John Murphy,

Chief Technical Analyst, StockCharts.com

INTERMARKET TRENDS CONFIRM CHART SIGNALS... Last Thursday I showed some traditional charts that suggested stocks and commodities were due for a rally. In the case of stocks, a lot of global stock and U.S. stock indexes had reached important support at their mid-2010 lows and were in oversold territory....   READ MORE 

MEMBERS ONLY

IWM VOLATILITY REMAINS HIGH AS RESISTANCE ZONE NEARS -- SEMICONDUCTOR HOLDRS CHALLENGES SEPTEMBER HIGH -- BROKEN RESISTANCE MARKS NEXT SUPPORT ZONE FOR DOLLAR -- EURO SURGES AS LATEST PLEDGE IS ANNOUNCED -- GOLD ETF CHALLENGES CONSOLIDATION RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

IWM VOLATILITY REMAINS HIGH AS RESISTANCE ZONE NEARS... Link for todays video. The Russell 2000 ETF (IWM) is up over 10% in the last five trading days. While this is certainly a strong move, it is still within the realm of the new normal in volatility. Chart 1 shows IWM...   READ MORE 

MEMBERS ONLY

DOW SPDR HEADS FOR BIG TEST -- RETAIL SPDR SURGES TOWARDS RESISTANCE -- TREASURIES GET HAMMERED AFTER EMPLOYMENT REPORT -- OIL BOUNCES AS BONDS RETREAT -- OIL SERVICES HOLDRS CONTINUES TO UNDERPERFORM OIL

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW SPDR HEADS FOR BIG RESISTANCE TEST... Link for todays video. Point & Figure charts are good for defining key support and resistance levels. In addition, P&F charts at StockCharts.com come with automatic trendlines that can be used to define the trend. Chart 1 shows a 1/...   READ MORE 

MEMBERS ONLY

A LOT OF MARKETS ARE TESTING IMPORTANT SUPPORT LEVELS AT THEIR 2010 LOWS -- THAT WOULD BE A LOGICAL SPOT FOR OVERSOLD MARKETS TO ATTEMPT A RALLY -- THE MARKET ALSO APPEARS TO HAVE COMPLETED A FIVE-WAVE DECLINE WHICH COULD LEAD TO A FOURTH QUARTER REBOUND

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGN ETFS TESTING 2010 LOWS ... What started off as a potentially bearish week may be turning into something more positive. A large part of the reason for that is the ability of so many global markets to find support at their mid-2010 lows. Given the steepness of the recent declines...   READ MORE 

MEMBERS ONLY

RISING FLAG BREAKDOWN REMAINS FOR SPY -- A POSSIBLE FALLING WEDGE AND A DEFINITIVE DOWNTREND -- NASDAQ RECOVERS AFTER BREAK BELOW AUGUST LOWS -- DELL, INTEL AND MICROSOFT LIFT NASDAQ -- NETWORKING ETF HOLDS AUGUST LOW WITH BULLISH ENGULFING

by John Murphy,

Chief Technical Analyst, StockCharts.com

RISING FLAG BREAKDOWN REMAINS FOR SPY... Link for todays video. Stocks staged one heck of a come back in the final hour of trading on Tuesday. Actually, the rally was even shorter than that as the surge started around 3:10PM and carried on to the 4PM close. Despite this...   READ MORE 

MEMBERS ONLY

LATE BOUNCE PREVENTS BREAKDOWNS NEAR 2010 LOWS -- SMALL CAPS AND TRANSPORTS LEAD AFTERNOON RALLY ON STRONG VOLUME -- UPSIDE REVERSAL DAY KEEPS QQQ OVER AUGUST LOW -- FIVE-WAVE DECLINES OFTEN LEAD TO RALLY ATTEMPTS

by John Murphy,

Chief Technical Analyst, StockCharts.com

UPSIDE REVERSAL ON RISING VOLUME... This morning's message showed a number of foreign and U.S. stock indexes testing important support at their mid-2010 lows. Some foreign ETFS (like the EEM and EWG) were actually trading below those levels. By late afternoon, however, upside reversals prevented those breakdowns...   READ MORE 

MEMBERS ONLY

SMALL-CAPS LEAD STOCKS LOWER AGAIN -- DOWNSIDE TARGET FOR SPY IS AROUND 100 -- WEAKNESS IN RETAILERS PUSHES XLY BELOW SEPTEMBER LOWS -- JUNK BONDS PLUNGE AS TREASURIES SURGE -- DOLLAR EXTENDS SURGE AS EURO PLUNGES

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS LEAD STOCKS LOWER AGAIN... Link for todays video. Stocks moved broadly lower on Monday with small-caps leading the way. All major index ETFs were down 2% or more. Eight of the nine sector SPDRs were down 2% or more. Only the Consumer Staples SPDR (XLP) was down less. Chart...   READ MORE