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MORE HISTORY ON MOVING AVERAGE CROSSOVERS -- WHY EMA LINES ARE MORE RELIABLE -- THE DIRECTION OF THE 200-DAY MA IS ALSO IMPORTANT -- WEEKLY 13-34 EMA COMBO IS ALSO AT CRITICAL POINT -- PREDEFINED STOCK SCANS REFLECT NEGATIVE TREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

THE 50-200 EMA COMBINATION WORKS BETTER... My Tuesday article on the significance of the "death cross" for the S&P 500 (when the 50-day average crosses below the 200-day) evoked a lot of messages and questions about the reliability of its signals. A number of readers correctly...   READ MORE 

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FINANCE SECTOR LEADS MARKET REBOUND -- AXP, FITB AND PNC LEAD BANKS -- SEMICONDUCTOR HOLDRS BOUNCES OFF RANGE SUPPORT -- ALTR, BRCM AND XLNX LEAD SEMIS -- XLU CONTINUES TO SHOW RELATIVE STRENGTH -- AEP, CMS AND DUK LEAD UTILITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SECTOR LEADS MARKET REBOUND... Link for todays video. Stocks rebounded with a broad advance that lifted most boats. Advances led declines 6 to 1 on the NYSE and 3.5 to 1 on the Nasdaq. All major indices were up sharply. All sectors were higher with finance leading the...   READ MORE 

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STOCKS BOUNCE WHILE GOLD AND THE DOLLAR SELLOFF -- DOLLAR SELLING BOOSTS FOREIGN ETFS -- AN IMPORTANT MOVING AVERAGE TEST IS TAKING PLACE

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND DOLLAR DROP TOGETHER... I pointed out last Thursday the simultaneous drop in gold and the dollar, and the fact that both markets had fallen below their 50-day moving averages. I suggested that since both had risen together, it made sense that they should correct together. And they continue...   READ MORE 

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VOLATILITY INDICES HOLD THEIR BREAKOUTS -- MATERIAL SPDRS AND BASE METALS ETF CONFIRM DOUBLE TOPS -- HOMEBUILDER ETFS TEST NOVEMBER LOWS -- XLK BREAKS NECKLINE SUPPORT -- SEMICONDUCTOR HOLDRS SHOWS RELATIVE STRENGTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

VOLATILITY INDICES FORM HIGHER LOWS AFTER BREAKOUTS... Link for todays video. The volatility indices held their breakouts and resumed their uptrends with the stock market slide over the last two weeks. Because the S&P 500 Volatility Index ($VIX) and Nasdaq 100 Volatility Index ($VXN) can be rather, well,...   READ MORE 

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GOLD TAKES A HIT AS DOLLAR DROPS -- GOLD STOCKS BACK OFF FROM OLD HIGHS -- SHORT-TERM TREND HAS WEAKENED FOR PRECIOUS METAL ASSETS

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND SILVER BREAK 50-DAY LINES... Gold and silver prices took a hit today for the first time in awhile. So did precious metal stocks. Chart 1 and 2 show the Gold ETF (GLD) and Silver (SLV) falling an average of 4% today on very heavy volume. Both commodity ETFs...   READ MORE 

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I'VE BEEN USING THE 1930S AS MY DEFLATION MODEL FOR THE LAST DECADE -- KONDRATIEFF WINTER HAS BEEN ON TARGET -- GOLD STOCKS AND DEFLATION

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND DEFLATION... I'm going to be writing about deflation in this message, since that's the only model that seems to have worked over the last decade. But first, I'd like to respond to one of our reader's question about the performance...   READ MORE 

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S&P 500 DECLINES FURTHER WITH A DANGEROUS DIVERGENCE -- BREAKING DOWN THE HEAD-AND-SHOULDERS IN THE S&P 500 -- AN ALTERNATIVE FALLING WEDGE FOR THE S&P 500 -- YEN AND SWISSY RISE IN THE FACE OF UNCERTAINTY

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 DECLINES FURTHER WITH A DANGEROUS DIVERGENCE ... Link for todays video. After a hair-raising decline on Tuesday, the S&P 500 continued lower on Wednesday. Buyers are simply nowhere to be found ahead of Fridays employment report and the three day weekend. Chart 1 shows the...   READ MORE 

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STOCKS AND COMMODITIES CONTINUE TO FALL AS BONDS RALLY -- ONCE AGAIN, FOREIGN STOCKS LEAD GLOBAL DECLINE -- MORE 200-DAY AVERAGES ARE BEING BROKEN -- REVIEW OF POTENTIAL DOWNSIDE TARGETS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOWNGRADE OF CHINA GROWTH CONTRIBUTES TO SELLING ... As has been the case since the market top in May, foreign stocks are leading the global retreat in stocks. Today's main headline was a downgrade in Chinese economic growth. That's not too much of a surprise to those...   READ MORE 

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MOMENTUM TURNS BEARISH FOR MATERIALS SPDR -- A KEY TEST FOR THE STEEL ETF -- CONSUMER STAPLES LEAD MIXED MARKET -- TOBACCO STOCKS LEAD CONSUMER STAPLES HIGHER -- EURO ETF CONSOLIDATES AT RESISTANCE -- INTEREST RATES CONTINUE TO FALL

by John Murphy,

Chief Technical Analyst, StockCharts.com

MOMENTUM TURNS BEARISH FOR THE MATERIALS SECTOR... Link for todays video. The Materials SPDR (XLB) showed some relative weakness on Monday as the sector with the second largest loss (behind energy). Chart 1 shows XLB with a rather volatile range since late May. XLB tested the February low with two...   READ MORE 

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SPY FORMS LOWER HIGH WITH WEEKLY REVERSAL -- NASDAQ AD VOLUME LINE FAILS TO BREAK RESISTANCE -- NYSE AD LINE FORMS LOWER HIGH AS SMALL-CAPS WEAKEN -- NET NEW HIGHS TURN NEGATIVE -- CONSUMER DISCRETIONARY AND FINANCE WEIGH ON MARKET

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY FORMS LOWER HIGH WITH WEEKLY OUTSIDE REVERSAL... Link for todays video. The long-term uptrend is in jeopardy after the major index ETFs reversed near key retracements and formed lower highs. Stocks peaked in April with the major index ETFs declining sharply in April-May. After battling support from the February...   READ MORE 

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LINK BETWEEN BONDS AND STOCKS CHANGED IN 1998 -- FALLING BOND YIELDS ARE NOW BAD FOR STOCKS -- FALLING RETAIL STOCKS ARE ANOTHER SIGN OF WEAKNESS -- SO ARE DROPS IN HOME DEPOT AND LOWES -- 13 AND 34 DAY EMA LINES ARE STILL NEGATIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

WHY I WROTE SECOND INTERMARKET BOOK ... In my 1991 intermarket book, I wrote that bond and stock prices generally trended in the same direction. That meant that bond yields and stocks trended in opposite directions. In the three decades between the 1970s and 1990s, falling bond yields were good for...   READ MORE 

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DIA TESTS BROKEN RESISTANCE -- SPY FAILS TO HOLD BREAKOUT -- BOND ETF BREAKS RESISTANCE -- DOLLAR DIPS AS EURO BOUNCES -- GERMANY AND THE NETHERLANDS LEAD EUROPEAN STOCKS -- FRANCE HITS RESISTANCE AS ENGLAND LAGS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DIA TESTS BROKEN RESISTANCE... Link for todays video. The Fed left rates unchanged and indicated that it would continue to do so for an extended period of time. Nothing new here. The Fed also noted that the European debt crisis could have an adverse affect on US growth. Stocks finished...   READ MORE 

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STOCKS FAIL TEST OF 50-DAY LINES -- DOW AND S&P 500 FALL BELOW 200-DAY LINES -- TRANSPORTS, RETAILERS AND HOMEBUILDERS ARE ESPECIALLY WEAK -- INVESTMENT GRADE CORPORATES LEAD BOND PRICES HIGHER AS MOST COMMODITIES AND STOCKS DROP

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW AND S&P 500 FALLS BELOW 200-DAY LINE... I wrote last Thursday that the next upside target for the market would be a test of 50-day averages. That test has taken place and, so far at least, appears to have failed. Yesterday's early enthusiasm about the...   READ MORE 

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RECENT WEAKNESS IN HOMEBUILDING STOCKS IS A SIGN OF ECONOMIC WEAKNESS -- SO IS THE DROP IN THE PRICE OF LUMBER -- BOTH OF WHICH HELP EXPLAIN FALLING BOND YIELDS AND RISING BOND PRICES

by John Murphy,

Chief Technical Analyst, StockCharts.com

HOMEBUILDING ETF BREAKS 200-DAY LINE... One of the more negative market signs of late has been the breakdown in homebuilding stocks -- both in absolute and relative terms. Chart 1 shows the DJ US Home Contruction iShares (ITB) well below its 200-day moving average and trading near the lowest level...   READ MORE 

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TECHS LEAD MARKET LOWER WITH OUTSIDE REVERSALS -- CONSUMER DISCRETIONARY SPDR BATTLES RESISTANCE -- RETAILERS WEIGH ON CONSUMER DISCRETIONARY SECTOR -- MACYS, TARGET AND BEST BUY MOVE SHARPLY LOWER -- GOLD MOVES BACK BELOW RESISTANCE BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHS LEAD MARKET LOWER WITH BIG OUTSIDE REVERSALS... Link for todays video. Stocks started the day strong, but gave up early gains and moved into negative territory in the afternoon. Techs were especially weak with the Nasdaq and Nasdaq 100 leading the market lower. Chart 1 shows the Nasdaq 100...   READ MORE 

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HISTORICAL BULL AND BEAR ZONES FOR RSI -- S&P 500 RSI BOUNCES OFF LONG-TERM SUPPORT ZONE -- A BREADTH THRUST FOR THE MCCLELLAN OSCILLATOR -- FINANCE, RETAIL AND HOUSING ETFS LAG BROADER MARKET -- OIL HITS RETRACEMENT RESISTANCE ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

HISTORICAL BULL AND BEAR ZONES FOR RSI... Link for todays video. As noted in prior commentaries, there are bull market zones and bear market zones for RSI. In general, RSI ranges from 40 to 80 in an uptrend and 20 to 60 in a downtrend. These are forty point ranges....   READ MORE 

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STOCK INDEXES STAY ABOVE 200-DAY LINES -- RAILS LEAD TRANSPORTS HIGHER -- BOND FUNDS HAVE STRONG DAY -- NEWMONT MINING HITS FOUR-YEAR HIGH IN STRONG GOLD GROUP

by John Murphy,

Chief Technical Analyst, StockCharts.com

FIXED INCOME ETFS GAIN GROUND... While some money is starting to creep back into stocks, investors are still showing enthusiasm for bonds. And I'm not talking just about Treasuries. More impressive gains were seen in other bond categories like corporate bonds and TIPS. Chart 1 shows the High...   READ MORE 

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COMBINING SUMMER RALLY AND FOUR-YEAR CYCLE SUGGESTS ANY JULY BOUNCE WILL BE FOLLOWED BY A WEAKER AUTUMN -- LIGHT TRADING VOLUME ON RECENT RALLY SHOWS LACK OF BULLISH ENTHUSIASM -- DAILY EMA LINES ARE STILL NEGATIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

MOST OF SUMMER RALLY TAKES PLACE DURING JULY... My Tuesday message suggested that the "summer rally" may have started. I warned, however, that I thought that short-term bounce into July could be followed by a selloff into the autumn months. First, a brief description of the summer rally....   READ MORE 

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APPLE AND GOOGLE LEAD QQQQ HIGHER -- GOLD AND BONDS HOLD SUPPORT AS S&P 500 BREAKS RESISTANCE -- BOND ETF CONSOLIDATES ABOVE RESISTANCE -- TREASURY YIELDS TRACK COMMODITY ETF -- GOLD AND SILVER ETFS CONSOLIDATE NEAR RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

APPLE AND GOOGLE LEAD QQQQ HIGHER... Link for todays video. Trading was mixed much of Wednesday, but big techs and the Nasdaq 100 ETF (QQQQ) showed some leadership. Chart 1 shows QQQQ breaking above its early June high with a surge today. QQQQ is up four of the last five...   READ MORE 

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MARKET BOUNCE CONTINUES OFF FEBRUARY LOW -- SHORT-TERM OUTLOOK IMPROVES FOR RISK ASSETS -- SECTOR LEADERS INCLUDE AIRLINES AND CHIPS -- MARKET MAY BE STARTING SUMMER RALLY

by John Murphy,

Chief Technical Analyst, StockCharts.com

VIX TURNS BACK DOWN... A couple of months ago, we warned that an upturn in the CBOE Volatility (VIX) Index signalled a market correction that could take the major stock indexes back to their February lows. The good news is that the February lows have held and the market'...   READ MORE 

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SPY AND DIA GET COLD FEET AT RESISTANCE -- QQQQ FORMS TRIANGLE AS IWM FALLS SHORT -- FINANCE SECTOR LAGS BROADER MARKET -- UTILITY SPDR BREAKS RESISTANCE TO SHOW LEADERSHIP -- EURO GETS AN OVERSOLD BOUNCE WITHIN DOWNTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND DIA GET COLD FEET AT RESISTANCE... Link for todays video. Trading remains tricky as the major index ETFs get cold feet at or below important resistance levels. Stocks opened strong on Monday and continued higher in the morning, but selling pressure took over in the afternoon and the...   READ MORE 

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A POSSIBLE BROADENING FORMATION FOR THE NY COMPOSITE -- NASDAQ HOLDS ABOVE FEBRUARY LOWS WITH VOLATILE RANGE -- NY COMPOSITE UNDERPERFORMS NASDAQ -- NYSE AD VOLUME LINE IS WEAKER THAN THE AD LINE -- VIX AND VXN REACH MEDIUM-TERM EXTREMES

by John Murphy,

Chief Technical Analyst, StockCharts.com

A POSSIBLE BROADENING FORMATION FOR THE NY COMPOSITE... Link for todays video. With a big bounce on Thursday, the market is making another concerted effort at holding the February lows. Chart 1 shows the NY Composite ($NYA) piercing its February lows, but moving back above by the end of the...   READ MORE 

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STOCKS SURGE AROUND THE WORLD -- A POSSIBLE SMALL HEAD AND SHOULDERS IN THE S&P 500 -- EURO AND EURO STOXX BOUNCE -- GOLD AND BONDS FALL AS STOCKS RISE -- VOLATILITY INDICES HOLD THEIR MAY BREAKOUTS

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS SURGE AROUND THE WORLD... John Murphy is off today and will return next week. Stock markets around the world moved higher on Thursday. Indices in Japan, Taiwan and Australia got it started with 1+ percent gains. This carried over to Europe where French, German, and Dutch indices also gained...   READ MORE 

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MAY SUPPORT LEVELS IN PLAY FOR STOCKS -- MAY RESISTANCE LEVELS IN PLAY FOR BONDS AND GOLD -- EURO STOX50 HOLDS ABOVE MAY LOW AS EURO BREAKS IT -- S&P 500 REMAINS WITHIN HUGE TRADING RANGE -- ABC CORRECTION DEPENDS ON FEBRUARY LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

MAY LEVELS IN PLAY FOR STOCKS, BONDS AND GOLD... Link for todays video. The major stock index ETFs are getting a bounce off their May lows as bonds and gold hit resistance from their May highs. It is no secret that the Dow and S&P 500 are testing...   READ MORE 

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SPY CONTINUES TO BATTLE ITS FEBRUARY LOW -- FINANCE SECTOR FIRMS WITH HARAMI NEAR FEBRUARY LOW -- CONSUMER STAPLES OUTPERFORMING CONSUMER DISCRETIONARY -- XLY HOLDS ABOVE FEBRUARY LOW AS XLP TESTS IT

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY CONTINUES TO BATTLE ITS FEBRUARY LOW... John Murphy is off Tuesday-Thursday and will return next week. After two sharp declines, stocks managed to firm on Tuesday with the Dow and S&P 500 gaining over 1%. Chart 1 shows the S&P 500 ETF (SPY) firming with...   READ MORE 

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GOLD AND BONDS SURGE TOWARDS MAY HIGHS -- SMALL CAPS LEAD THE MARKET LOWER -- HEALTHCARE AND UTILITIES HOLD UP IN WEAK MARKET -- LONG-TERM MOMENTUM INDICATOR BREAKS BULL RANGE -- PERCENT OF STOCKS ABOVE 50-DAY SMA BREAKS DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD AND BONDS SURGE TOWARDS MAY HIGHS... Link for todays video. Stocks were weak in Asia, Europe and the US today. Oil and copper followed suit with losses as well. Chart 1 shows Copper Futures ($COPPER) breaking below their February (closing) low on Friday. This is an end of day...   READ MORE 

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EMPLOYMENT REPORT WEIGHS ON STOCKS AND LIFTS BONDS -- EURO AND EUROPEAN STOCKS FALL SHARPLY -- MACD FORMS DIVERGENCE ON WEEKLY GOLD CHART -- INVERSE GOLD EURO CORRELATION UNDER THREAT -- GOLD MINERS ETF HITS RESISTANCE AT GAP

by John Murphy,

Chief Technical Analyst, StockCharts.com

EMPLOYMENT REPORT WEIGHS ON STOCKS AND LIFTS BONDS... Link for todays video. A negative reaction to todays employment report sent stocks sharply lower on the open. In early trading, the major indices were down around 2% and all sectors were down. Elsewhere, the Dollar was up because of weakness in...   READ MORE 

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S&P 500 SURGES TO HOLD FEBRUARY LOW -- RUSSELL 2000 BOUNCES OFF KEY RETRACEMENT -- SMALL CAP PERFORMANCE FLATTENS -- AIRLINES LEAD THE MARKET HIGHER -- AMR AND CAL SURGE -- HOMEBUILDERS FIRM AT SUPPORT -- PHM AND TOL HIT KEY RETRACEMENT

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 SURGES TO HOLD FEBRUARY LOW... Link for todays video. The February low represents the last big reaction low and an important support zone for the S&P 500. A break below this support zone would forge a lower low and signal the start of a...   READ MORE 

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DOW AND S&P 500 REMAIN BELOW 200-DAY LINE -- COPPER AND OIL LEAD COMMODITY GROUP LOWER -- CHINESE WEAKNESS WEIGHS ON ENERGY AND MATERIAL STOCKS -- GOLD RALLIES -- INVESTMENT GRADE BONDS DROP

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKET BOUNCE REMAINS CONTAINED ... The inability of major market indexes to reclaim (or stay above) their 200-day moving average is some cause for concern. Charts 1 and 2 show the recent bounce in the Dow Industrials and S&P 500 meeting with resistance at their 200-day line. The Nasdaq...   READ MORE 

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SMALL CAPS HOLDING UP BETTER THAN LARGE CAPS -- INTERMARKET DYNAMICS SHOW INVERSE STOCK BOND RELATIONSHIP -- GOLD FORMS WEEKLY BEARISH ENGULFING -- OIL FINDS SUPPORT AROUND 70 AGAIN -- BONDS HIT LONG TERM RESISTANCE ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS HOLDING UP BETTER THAN LARGE-CAPS ... Link for todays video. While the S&P 500 ETF (SPY) tested its February low this month, the Russell 2000 ETF (IWM) held well above its February low. Chart 1 shows SPY dipping below 106 three times this month and recovering each time....   READ MORE 

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MARKET BOUNCES SHARPLY OFF FEBRUARY LOW -- S&P MAY REGAIN A THIRD TO A HALF OF THE MAY LOSS -- TAKE SOME PROFITS IN BEAR FUNDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SHORT-TERM OVERSOLD CONDITION LEADS TO MARKET BOUNCE... The combination of a short-term oversold condition and the presence of chart support at the February low has produced gains of more than 2% in most major stock indexes, including the S&P 500. The short-term oversold condition in Chart 1 is...   READ MORE 

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STOCKS GIVE UP EARLY GAINS -- DISCRETIONARY AND INDUSTRIALS SECTORS BATTLE KEY RETRACEMENTS -- FINANCE AND TECHNOLOGY SECTORS BATTLE FEBRUARY LOWS -- TRANSPORT GETS A LIFT -- AIRLINE INDEX SHOWS RELATIVE STRENGTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS GIVE UP EARLY GAINS... Link for todays video. Stocks opened strong and remained in positive territory most of the day, but afternoon selling pressure erased early gains. The S&P 500 and S&P 100 (large-caps) finished in negative territory, but the Russell 2000 and S&...   READ MORE 

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KOREAN MARKET LEADS GLOBAL STOCKS LOWER -- MOST FOREIGN MARKETS HAVE ALREADY BROKEN THEIR FEBRUARY LOWS -- TECHNICAL ODDS SUGGEST THE US MARKET WILL PROBABLY DO THE SAME

by John Murphy,

Chief Technical Analyst, StockCharts.com

NOW IT'S ASIA FALLING... First it was China that started falling a few months ago which gave an early warning of global weakness. Then it was Europe pulling the rest of the world lower, which is where most of the attention has been focused over the last month....   READ MORE 

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BANKS, REITS AND BROKERS WEIGH ON THE MARKET -- LATE SELLING PRESSURE PUSHES TECHS IN THE RED -- INDUSTRIALS AND ENERGY SPDRS FORM PIERCING LINES -- FINANCE AND CONSUMER DISCRETIONARY SPDRS FORM ENGULFING LINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

BANKS, REITS AND BROKERS WEIGH ON THE MARKET... Link for todays video. Weakness in finance related stocks weighed on the overall market on Monday. The European debt crisis and financial reform in the US are the clouds of uncertainty overhanging the banking stocks. Gains one day are met by selling...   READ MORE 

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S&P 500 ETF NEARS TEST OF FEBRUARY LOW -- RUSSELL 2000 ETF REMAINS ABOVE FEBRUARY LOW -- VIX SURGES TO FEAR LEVELS OF MARCH 2009 -- PUT-CALL RATIO SHOWS EXCESSIVE BEARISHNESS -- POTENTIAL DOUBLE TOPS IN MATERIALS SPDR AND METALS ETF

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY NEARS FEBRUARY LOW FOR KEY TESTS... Link for todays video. At the risk of a lynching :~) , I will remain on a limb with my assessment of an uptrend on the weekly. This is important because an uptrend on the weekly chart implies that the April-May decline is a correction...   READ MORE 

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MARKET INDEXES SLIP BELOW 200-DAY AVERAGES -- FEBRUARY LOW IS NEXT POTENTIAL SUPPORT LEVEL -- MORE FOREIGN CURRENCIES TUMBLE AGAINST DOLLAR AS THE YEN ATTRACTS SAFE HAVEN MONEY -- TREASURIES RISE WHILE HIGH YIELD BONDS FALL

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 IS TRADING BELOW 200-DAY AVERAGE ... Today's market slide has put the S&P 500 in danger of closing below its 200-day moving average (red line) for the first time in a year. The S&P has also lost 10% from its April...   READ MORE 

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STOCKS STAGE ANOTHER RECOVERY WITHIN A DOWNTREND -- SEMICONDUCTORS SHOW SOME RELATIVE STRENGTH -- TEXAS INSTRUMENTS AND INTEL FIRM -- EURO BOUNCES DESPITE BAD NEWS -- LONG TERM BREADTH INDICATOR NEARS MAKE OR BREAK POINT

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS STAGE ANOTHER RECOVERY WITHIN A DOWNTREND... Link for todays video. Wednesdays trading day looks a lot like Monday. Stocks declined until noon and then advanced in the afternoon. Neither the morning decline nor the afternoon rebound were convincing. All in all, Wednesdays trading action looks like a stalemate. Chart...   READ MORE 

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RISING DOLLAR MAY HOLD SILVER LINING FOR US STOCKS WHICH ARE HOLDING UP BETTER THAN FOREIGN STOCKS -- BUT IT'S HURTING COMMODITIES AND COMMODITY PRODUCERS -- IT MAY BE A GOOD TIME TO BUY SOME PROTECTION WITH AN INVERSE ETF

by John Murphy,

Chief Technical Analyst, StockCharts.com

FOREIGN SHARES MUCH WEAKER THAN THE US... We've noted before that foreign stocks are acting much weaker than those in the U.S. The first two charts demonstrate that very clearly. Chart 1 shows the S&P 500 having fallen 7% from its mid-April high and trading...   READ MORE 

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SMALL-CAPS AND TECHS LEAD AFTERNOON REBOUND - SEMICONDUCTOR, NETWORKING AND INTERNET ETFS LEAD TECH SECTOR - INTEL, CISCO AND GOOGLE LEAD TECHS - GLOBAL EQUITIES WEIGH ON OIL - OIL HITS SUPPORT ZONE AND BECOMES OVERSOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS AND TECHS LEAD AFTERNOON REBOUND ... Link for todays video. After a weak open and down morning, stocks began moving higher in the afternoon and finished in the green for the first time in three days. The gains were rather small though. Sectors were mixed with six up and three...   READ MORE 

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MAJOR INDEX ETFS FAIL NEAR BROKEN SUPPORT -- KEY SECTORS ALSO FAIL NEAR BROKEN SUPPORT -- A CASE FOR EURO DOLLAR PARITY -- EUROSTOXX ETF BACKS OFF BROKEN SUPPORT -- GERMAN DAX HOLDS EUROPE AFLOAT AS FRENCH CAC BREAKS SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

MAJOR INDEX ETFS FAIL NEAR BROKEN SUPPORT... Link for todays video. Stocks were down sharply in early trading on Friday. The Nasdaq 100 ETF (QQQQ), S&P 500 ETF (SPY), Dow SPDR (DIA), Russell 2000 ETF (IWM) and S&P 400 MidCap ETF (MDY) were all down over...   READ MORE