Members Only

MEMBERS ONLY

SMALL-CAPS AND TECHS LEAD BROAD RALLY - MATERIALS, INDUSTRIALS AND TECHNOLOGY LEAD SECTORS - INTEL, APPLIED MATERIALS AND MICRON LEAD SEMIS - TOPS USUALLY EVOLVE AS A DISTRIBUTION PROCESS - DEALING WITH THURSDAY'S DATA SPIKES

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS AND TECHS LEAD BROAD RALLY... Link for today's video. Stocks moved higher for the third day running with solid gains in all of the major indices. Small-caps led the way higher as the Russell 2000 ETF (IWM) gained around 3% on the day. Chart 1 shows IWM...   READ MORE 

MEMBERS ONLY

WHY GOLD AND THE DOLLAR CAN RALLY TOGETHER -- NEWMONT LEADS GOLD MINERS ETF TO STRONG GAIN -- INTERMARKET RELATIONSHIPS MAKE SENSE -- WHY INVERSE ETFS AREN'T GOOD LONG-TERM HOLDINGS

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD IS COMPETING WITH THE DOLLAR... Some readers have asked why gold can continue to rise in the face of a rising dollar. As I've explained several times recently, gold is both a commodity and a currency. At the moment, it's acting more like a currency...   READ MORE 

MEMBERS ONLY

DOW AND NASDAQ BOUNCE OFF KEY RETRACEMENTS - INDUSTRIALS, FINANCIALS AND CONSUMER DISCRETIONARY LEAD - EURO FALLS BACK AFTER GAP AS GOLD CLOSES MIXED - TREASURIES MOVE SHARPLY LOWER IN FLIGHT FROM SAFETY - BIG ANNOUNCEMENTS CAN MEAN BIG VOLATILITY

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW BOUNCES OFF KEY RETRACEMENT... Link for todays video. News of a $956 billion European bailout plan sparked a huge rally on Wall Street. Stocks fell sharply last week as Greece teetered and fears of contagion gripped Wall Street. A weekend bailout package alleviated these fears and put risk back...   READ MORE 

MEMBERS ONLY

FLIGHT TO SAFETY CONTINUES AS STOCKS REMAIN WEAK - YEN, DOLLAR, BONDS AND GOLD ATTRACT BUYING INTEREST - WEEKLY UPTREND IS WOUNDED, BUT NOT YET BROKEN - SPY HITS POTENTIAL RETRACEMENT SUPPORT - DISSECTING AND DEFINING TIMEFRAMES

by John Murphy,

Chief Technical Analyst, StockCharts.com

FLIGHT TO SAFETY CONTINUES AS STOCKS REMAIN WEAK... Link for todays video. Stocks were down sharply in early trading on Friday as money continued its move to relative safety. Despite German approval for the Greek bailout and a much better-than-expected employment report, stocks moved lower and remained under pressure. The...   READ MORE 

MEMBERS ONLY

MARKET ATTEMPTS TO STABILIZE AFTER AFTERNOON PLUNGE -- TREASURIES SURGE AS CORPORATE BONDS TUMBLE

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW RECOVERS SOME GROUND... A selling panic hit stocks earlier this afternoon which pushed the Dow Industrials down 1000 points and put it close to its February low where some chart support is likely (see Chart 1). The Dow has since regained about half of its earlier losses. I'...   READ MORE 

MEMBERS ONLY

GLOBAL DECOUPLING IS A MYTH -- THAT'S WHY PROBLEMS IN EUROPE AND ELSEWHERE IN THE GLOBE WILL HURT US STOCKS -- MARKET APPEARS HEADED TOWARD FEBRUARY LOWS IN BIGGEST CORRECTION SINCE LAST SPRING -- GOLD RALLIES AS COPPER TUMBLES -- VIX BREAKS JANUARY HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

NOTE: THIS MESSAGE WAS WRITTEN BEFORE THIS AFTERNOON'S STOCK PLUNGE...PLEASE SEE FOLLOW-UP MESSAGE... Toward the end of 2007, the media started talking a lot about "global decoupling". At the time, U.S. stocks were being pulled lower by subprime mortgage concerns and a collapsing housing...   READ MORE 

MEMBERS ONLY

SPY AND QQQQ FIRM WITH SPINNING TOPS - HEALTHCARE SPDR HITS SUPPORT ZONE - PFIZER AND MERCK SURGE ON GOOD VOLUME - MARKET TURNS DEFENSIVE - CONSUMER STAPLES SPDR FIRMS AFTER SUPPORT BREAK - WAL-MART AND PROCTER & GAMBLE LEAD

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY AND QQQQ FIRM WITH SPINNING TOP CANDLESTICKS... Link for todays video. After support breaks and sharp declines on Tuesday, the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQQ) formed spinning top candlesticks on Wednesday (Charts 1 and 2). These candlesticks feature a small real body (open-close)...   READ MORE 

MEMBERS ONLY

FALLING MATERIAL STOCKS HELP PULL NYSE COMPOSITE INDEX BELOW 50-DAY AVERAGE -- EAFE ISHARES VIOLATE 200-DAY LINE -- WEAKNESS IN CHINA STOCKS ARE ALSO WEIGHING ON COPPER -- TREASURY BOND PRICES ACHIEVE BULLISH BREAKOUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

NYSE INDEX BREAKS 50-DAY LINE -- MATERIALS TUMBLE... Last Tuesday, I showed the NYSE Composite Index testing its January high and its 50-day average, and suggested that it needed to stay above both lines to maintain its spring uptrend. Chart 1 shows the NYA falling below both support lines today....   READ MORE 

MEMBERS ONLY

GLOBAL STOCKS AND COMMODITIES DROP AS BONDS RALLY -- NYSE INDEX BREAKS 50-DAY AVERAGE -- EFA ISHARES FALL BELOW 200-DAY LINE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SERIOUS PROFIT-TAKING ... Global stocks and commodities are experiencing heavy profit-taking today. Major stock indexes in the U.S. are down more than 2%. Biggest losses are being seen in economically-sensitive groups like energy, materials. transports, and technology. Semiconductors are down more than 4% and are helping lead the Nasdaq lower....   READ MORE 

MEMBERS ONLY

STOCKS SURGE AS MAJOR INDICES HOLD SUPPORT - TRANSPORTS HIT 52-WEEK HIGH - RAILS AND TRUCKERS LEAD TRANSPORTS - EURO SLIDES DESPITE LATEST BAILOUT - OIL MAINTAINS STRENGTH DESPITE STRONG GREENBACK - OIL CHALLENGES RESISTANCE AGAIN

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS SURGE AS MAJOR INDEX ETFS HOLD SUPPORT ... Link for todays video. With stocks short-term oversold and many key indices near support zones, positive economic news spurred the bulls into action and stocks move sharply higher on Monday. The major index ETFs gained around 1.5% on the day with...   READ MORE 

MEMBERS ONLY

FINANCE SECTOR FEELS THE HEAT - TECH ETF BOUNCES OFF SUPPORT - SEMIS TEST SUPPORT- NEW HIGH IN AD LINE AFFIRMS BULL-RUN - AD LINE BEARISH DIVERGENCE PRECEDED 2007 PEAK - CORPORATE BONDS OUTPERFORMING TREASURIES - JUNK BOND ETF HITS NEW HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SECTOR FEELS THE HEAT... Link for todays video. With Goldman Sachs under the congressional microscope, the finance sector has been under pressure the last two weeks. The S&P 500 ETF (SPY) hit a new 52-week high (closing) last Friday, but the Financials SPDR (XLF) peaked over a...   READ MORE 

MEMBERS ONLY

GOLD MINERS INDEX SHOWS NEW LEADERSHIP -- NEWMONT AND SILVER WHEATON NEAR MAJOR UPSIDE BREAKOUTS -- MINERS BULLISH PERCENT INDEX ON BUY SIGNAL -- ENERGY BPI IS CLOSE TO ONE -- MOVING AVERAGE SUPPORT HAS HELD SO FAR FOR THE EFA AND NYSE INDEXES

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD MINERS INDEX HITS THREE-MONTH HIGH ... Three Thursdays ago (April 8), I wrote about the upturn in the price of gold and gold stocks. At the time, gold was breaking through a bullish "neckine" in a head and shoulders bottom while the Gold Miners Index was breaking through...   READ MORE 

MEMBERS ONLY

STOCKS FIRM AS FED STANDS PAT - S&P 500 AND NASDAQ FIND SUPPORT NEAR LAST WEEKS LOW - GOLD MINERS ETF SURGES TO THREE MONTH HIGH - PERFCHART REFLECTS WEAKNESS IN EUROPEAN PERIPHERY - SPAIN, ITALY AND PORTUGUESE INDICES BREAK DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS FIRM AS FED STANDS PAT... Link for todays video. There were no surprises from the Fed today. After a two day meeting, the FOMC issued its policy statement at 2:15 today. Fed officials voted to keep the Fed Funds target rate in its current range (0 to 0....   READ MORE 

MEMBERS ONLY

S&P DOWNGRADES GREEK DEBT TO JUNK AND CAUSES PROFIT-TAKING IN STOCKS AND BUYING OF US BONDS -- GOLD BOUNCES AGAINST DOLLAR AND REACHES RECORD AGAINST THE EURO -- 20% JUMP IN THE VIX SHOWS THAT OPTION TRADERS ARE TURNING MORE CAUTIOUS ON STOCKS

by John Murphy,

Chief Technical Analyst, StockCharts.com

TREASURIES RALLY ... I wrote a message on April 17 to the effect that Treasury bond prices were starting to bounce from chart support (as yields were backing off from resistance at 4%), and suggested that a bounce in bond prices might cause a pullback in stocks. That's because...   READ MORE 

MEMBERS ONLY

INDUSTRIALS AND CONSUMER DISCRETIONARY SECTORS POWER LATEST LEG - HIGH VOLUME MOVES FOR WHIRLPOOL AND CATERPILLAR - DOW ENTERS POSSIBLE FIFTH WAVE - PUT/CALL RATIO REACHES AN EXTREME

by John Murphy,

Chief Technical Analyst, StockCharts.com

INDUSTRIALS AND CONSUMER DISCRETIONARY SECTORS POWER LATEST LEG ... Link for todays video. Perfchart 1 shows the performance of the nine sector SPDRs since the last upswing began in early February. All nine sectors are up with five up double digits. The S&P 500 is up double digits with...   READ MORE 

MEMBERS ONLY

EURO BOUNCES OFF PRIOR LOWS AS GREECE ACCEPTS AID - FALLING DOLLAR SPURS BUYING IN SILVER AND GOLD - OIL AND OIL-RELATED SHARES SURGE - BONDS TEST RESISTANCE AS FED CONSIDERS ASSET SALES - PERCENT OF STOCKS ABOVE 50-DAY LINES SURGES TO PRIOR HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO BOUNCES OFF PRIOR LOWS AS GREECE ACCEPTS AID... Link for todays video. Debt-laden Greece formally requested assistance from the EU and IMF. News of possible bailout to help Greece get through the year lifted the Euro. Chart 1 shows the Euro ETF (FXE) finding support near the prior low...   READ MORE 

MEMBERS ONLY

QQQQ AND SPY EXCEED CHANNEL TRENDLINES - SMH GIVES UP EARLY GAINS - GOLD HOLDS BREAKOUT ON WEEKLY CHART AND HITS RESISTANCE ON DAILY CHART - GOLD-DOLLAR RELATIONSHIP TURNS POSITIVE - SHANGHAI COMPOSITE LAGS OTHER BRIC COUNTRIES AND THE US

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQQ AND SPY EXCEED CHANNEL TRENDLINES... Link for todays video. The Nasdaq 100 ETF (QQQQ) and S&P 500 ETF (SPY) were featured with rising price channels in the March 29th Market Message. These channels are still there, but charts 1 and 2 shows these ETFs exceeding their upper...   READ MORE 

MEMBERS ONLY

OIL SERVICE HOLDERS LEAD ENERGY SECTOR INTO ANOTHER TEST OF OLD HIGHS -- CONOCOPHILLIPS AND HALLIBURTON ARE ENERGY LEADERS -- STRONG CANADIAN DOLLAR IS GOOD FOR OIL PRICES -- SURGING LUMBER MARKET MAY HOLD GOOD NEWS FOR HOUSING SECTOR

by John Murphy,

Chief Technical Analyst, StockCharts.com

ENERGY SPDR TESTS JANUARY HIGH... One of the themes I've repeated over the past few weeks is that commodity-related stocks should start playing catchup to the rest of the market. I mentioned energy stocks in particular. After a modest dip last week, the energy sector is today'...   READ MORE 

MEMBERS ONLY

MATERIALS SPDR BACKS OFF RESISTANCE - RISK-AVERSION TRADE RETURNS AS DOLLAR BOUNCES - EURO ETF RETURNS TO BROKEN TRENDLINE - ENERGY SPDR ALSO HITS RESISTANCE - OIL SERVICE HOLDRS FORMS LARGE DIAMOND

by John Murphy,

Chief Technical Analyst, StockCharts.com

MATERIALS SPDR BACKS OFF RESISTANCE ZONE... The Materials SPDR (XLB) is running into resistance on both the daily and weekly charts. First, chart 1 shows a long-term resistance zone from broken supports and the 62% retracement mark. Also note that XLB is up around 100% from its March 2009 low....   READ MORE 

MEMBERS ONLY

FINANCIAL DROP PULLS MARKET LOWER -- THE FACT THAT OVERSOLD TREASURY BOND PRICES ARE STARTING TO BOUNCE OFF CHART SUPPORT MAY ALSO SUGGEST THAT STOCKS ARE DUE FOR A PULLBACK

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLDMAN SACHS PLUNGES NEARLY 13%... The SEC sued Goldman Sachs on Friday for fraud in the mortage market. That shocking news caused the stock to plunge nearly 13% on huge trading volume. Chart 1 shows the chart damage. GS hasn't exactly been a market leader over the has...   READ MORE 

MEMBERS ONLY

SECTOR RANKINGS SHOW BULLISH CONFIDENCE -- TOP 2010 PERFORMERS ARE FINANCIALS, DISCRETIONARY, SMALL CAPS, TRANSPORTS, AND THE NASDAQ -- DEFENSIVE GROUPS LAG BEHIND -- MARKET BREADTH REMAINS POSITIVE AS NYSE ADVANCE-DECLINE HITS RECORD HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

GROUP LEADERSHIP SHOWS CONFIDENCE... The fact that major market indexes are hitting new recovery highs is a vote of confidence for the market and the economy. That's because the stock market is a leading indicator of the economy. What's also impressive is where market leadership is...   READ MORE 

MEMBERS ONLY

SEMICONDUCTOR SURGE GIVES MARKET A BIG BOOST -- THAT'S MAY ALSO BE HELPING BULLISH BREAKOUT IN ASIA -- A WEAKER DOLLAR SHOULD ALLOW COMMODITIES (AND STOCKS TIED TO THEM) TO PLAY CATCHUP TO THE STOCK MARKET -- NATIONAL SEMICONDUCTOR BREAKS OUT

by John Murphy,

Chief Technical Analyst, StockCharts.com

SOX INDEX SOARS... Nearly two weeks ago (April 1) I showed the Semiconductor (SOX) Index breaking through its January high at 370 and noted that was giving a nice boost to technology shares and the market as whole. That positive effect is even more obvious today. Chart 1 shows the...   READ MORE 

MEMBERS ONLY

DOW 11000 DOESN'T HAVE MUCH TECHNICAL SIGNIFICANCE AND PROBABLY WON'T STOP THE DOW'S ADVANCE -- BUT CHART RESISTANCE IS VISIBLE BETWEEN 11200 AND 11600 -- KEEP AN EYE ON UPPER MONTHLY BOLLINGER BAND AS A POTENTIAL UPSIDE TARGET

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW REACHES 11000... A lot is being made in the media about the ability of the Dow Industrials to reach the 11,000 level which has led to a discussion as to whether or not that number means anything. That's what we'll try to determine here....   READ MORE 

MEMBERS ONLY

EMERGING CURRENCIES HAVE BEEN RISING AGAINST THE DOLLAR -- EVEN THE CHINESE YUAN IS CLIMBING -- WHY RISING BOND YIELDS ARE GOOD FOR STOCKS AND BAD FOR TREASURIES -- OTHER BOND CATEGORIES ARE LESS RATE SENSITIVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

EMERGING MARKET CURRENCIES ARE RISING... My Tuesday message repeated the view that the 2010 increase in the U.S. Dollar Index has masked gains in a lot of foreign currencies (mainly because of its heavy weighting in Europe and Japan). I showed February upturns in commodity-based currencies like the Aussie...   READ MORE 

MEMBERS ONLY

GOLD AND GOLD MINERS INDEX TURN UP -- NEWMONT AND SILVER WHEATEN ARE GDX LEADERS -- BARRICK GOLD IS BREAKING OUT -- GOLD MINERS BULLISH PERCENT INDEX SHOWS MOST GDX STOCKS HAVE TURNED UP

by John Murphy,

Chief Technical Analyst, StockCharts.com

GLD COMPLETES H&S BOTTOM ... In last Thursday's message, I wrote a positive piece on commodity prices in general, and precious metals in particular (PRECIOUS METALS ARE TURNING UP). Part of my renewed optimism on the group was caused by the fact that silver had already turned...   READ MORE 

MEMBERS ONLY

WHY COMMODITIES ARE STRONGER THAN THEY APPEAR WHILE THE DOLLAR IS WEAKER -- TOO MUCH FOCUS IS BEING PLACED ON THE WEAK EURO AND NOT ENOUGH ON RISING COMMODITY CURRENCIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR STRENGTH COMES FROM EUROPE AND JAPAN ... In a message dated March 2, I expressed the view that the dollar wasn't as strong as it appeared to be. I also wrote that an upturn in commodity-based currencies would lend support to commodity prices. I'd like to...   READ MORE 

MEMBERS ONLY

STRONG JOBS REPORT BOOSTS STOCKS AND COMMODITIES -- BUT TREASURY BONDS TUMBLE AS YIELDS SURGE --COMMODITY ETF TURNS UP -- GOLD AND ENERGY SHARES ARE BREAKING OUT -- PLATINUM LEADS PRECIOUS METALS HIGHER -- EMERGING MARKET ETF HITS NEW 2010 HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOND YIELDS SURGE ON STRONG JOBS REPORT... There's good and bad news in Friday's strong jobs report. The bad news is that bond yields are surging. Chart 1 shows the 10-Year Treasury Note Yield (TNX surging to the highest level since last June and heading for...   READ MORE 

MEMBERS ONLY

GROWTH IN CHINA -- AND HIGHER CHINESE STOCKS -- BOOSTS STOCKS AND COMMODITIES -- ENERGY AND PRECIOUS METALS ARE TURNING UP ALONG WITH THEIR SHARES -- SILVER IS LEADING GOLD HIGHER -- NYSE COMPOSITE AND SOX HIT NEW 2010 HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

JUMP IN CHINESE SHARES BOOSTS COMMODITIES ... Stocks and commodity markets are rallying today on news of an expansion in manufacturing in China, which is the world's biggest user of commodities. A few weeks back I wrote that weakness in Chinese shares was one of the factors weighing on...   READ MORE 

MEMBERS ONLY

DOLLAR PULLS BACK WITHIN RISING CHANNEL - OIL AND GASOLINE CHALLENGE RESISTANCE - GOLD CHALLENGES FLAG/CHANNEL RESISTANCE - GOLD HOLDING UP BETTER THAN THE EURO - PLATINUM, SILVER AND COPPER MAINTAIN UPTRENDS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR PULLS BACK WITHIN RISING CHANNEL... Link for todays video. Wednesday is turning into a redux of Monday. The Euro advanced, the Dollar fell, oil bounced and commodities moved higher. Lets start with the Euro and the Dollar. Chart 1 shows the Euro ETF (FXE) within a clear downtrend defined...   READ MORE 

MEMBERS ONLY

APPLYING PERCENTAGE BOX SIZES TO POINT & FIGURE CHARTS ON THE DOLLAR, COMMMODITIES, AND BOND ETFS

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING PERCENT P&F BOX SIZE ... My recent point & figure articles have been limited to stock indexes and traditional box sizes. Some readers have asked about the use of "percentage" box sizes. I find percentage box sizes very helpful, especially when looking at financial markets other...   READ MORE 

MEMBERS ONLY

SPY STALLS AT CHANNEL TRENDLINE - EURO GETS OVERSOLD BOUNCE - STRENGTH IN CHINA LIFTS CRUDE - ENERGY SECTOR RECOVERS AFTER SUPPORT BREAK - GOLD STALLS AFTER BIG SURGE

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPY STALLS AT CHANNEL TRENDLINE ... Link for todays video. The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQQ) are trading near the upper trendline of a rising price channel that extends back to August. I drew the lower trendline first, created a second parallel trendline and then...   READ MORE 

MEMBERS ONLY

MARKET ADVANCE EXCEEDS 52 WEEKS - NET NEW HIGHS EXPAND IN MARCH - EARLY SIGNS OF RELATIVE WEAKNESS IN SMALLCAPS - IWM STALLS AS MACD ROLLS OVER - NASDAQ NET ADVANCES HIT HARD THIS WEEK - NYSE AD VOLUME LINE FORMS SMALL NEGATIVE DIVERGENCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKET ADVANCE EXCEEDS 52 WEEKS ... Link for todays video. Net New Highs on the NYSE and Nasdaq were exceptionally strong this month. This is hardly surprising considering that the current advance turned 1 year old in March. Perfchart 1 shows performance for the major indices since early March 2009. These...   READ MORE 

MEMBERS ONLY

USE 45 DEGREE TRENDLINES TO FILTER P&F SIGNALS -- USING FIVE-BOX REVERSALS AS ADDITIONAL FILTER -- THE S&P 500 CONTINUES FIFTH WAVE ADVANCE WITH NO SIGN OF TOP -- NEXT POTENTIAL TARGET IS 1250 TO 1300 ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

USING TRENDLINES AS FILTERS... I received so much feedback on my Tuesday point & figure message that I'd like to use this article to answer some of the questions and elaborate on the technique even further. My Tuesday message showed two versions of the Consumer Discretionary SPDR (using...   READ MORE 

MEMBERS ONLY

DIA FORMS INSIDE DAY AT CHANNEL RESISTANCE - BONDS FALL SHARPLY ON RECORD TREASURY AUCTION - EURO EXTENDS DOWNTREND WITH SHARP DECLINE - DOLLAR ETF SURGES TO EIGHT MONTH HIGH - SURGING DOLLAR PUSHES GOLD BELOW 1100

by John Murphy,

Chief Technical Analyst, StockCharts.com

A STRANGE DAY INDEED... Link for todays video. Before getting to todays gap, I would like to start with an overview and observation. Stocks started the day weak and remained weak throughout the day. Eight of the nine sectors were down with healthcare and utilities leading the way lower. These...   READ MORE 

MEMBERS ONLY

HOW TO SENSITIVE P&F CHARTS TO SUIT DIFFERENT TIME DIMENSIONS -- USER BIGGER BOX SIZES FOR MAJOR TRENDS AND SMALLER BOXES FOR SHORT-TERM TRADING SIGNALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

CHANGE BOX SIZE TO VARY SENSITIVITY ... One of the things I like most about point & figure charts is the clarity and simplicity of their buy and sell signals. And you can adjust the charts to suit the time frame you're trading. Less sensitive charts lend themselves to...   READ MORE 

MEMBERS ONLY

QQQQ SHRUGS OFF BEARISH ENGULFING - SEMIS LEAD TECHS - AMAT BREAKS TRIANGLE RESISTANCE - LRCX SURGES ON GOOD VOLUME - XLY HITS CHANNEL RESISTANCE - RETAIL ETF CONTINUES TO LEAD - VIX HITS COMPLACENCY LOW FROM MAY 2008

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQQ SHRUGS OFF BEARISH ENGULFING PATTERN ... Link for todays video. Many of the major index ETFs formed bearish engulfing patterns on Friday, but these were not confirmed with further weakness on Monday. A bearish engulfing pattern forms when the open is above the prior close and the close is below...   READ MORE 

MEMBERS ONLY

EURO FAILS AT RESISTANCE - STRONG DOLLAR WEIGHS ON OIL - WEAKNESS IN OIL HITS ENERGY ETFS - GOLD FALLS ALONG WITH OIL - BOND ETFS CHALLENGE RESISTANCE - 10 CURRENCY PERFCHART - PESO HITS NEW HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO FAILS AT RESISTANCE... Link for todays video. Continued concerns with Greece weighed on the Euro as it failed at first resistance. Fundamentally, France and Germany do not agree (surprise, surprise) on the details of a rescue package. France favors a European solution, while Germany favors IMF involvement. Whatever the...   READ MORE 

MEMBERS ONLY

NEW 2010 HIGH BY DOW INDUSTRIALS KEEPS DOW THEORY UPTREND INTACT -- UPS AND FDX LEAD TRANPORTS HIGHER -- RECENT DOW LEADERS INCLUDE CISCO, DUPONT, GE, INTEL, AND WALMART

by John Murphy,

Chief Technical Analyst, StockCharts.com

TRANSPORTS BROKE OUT LAST WEEK ... I pointed out over a week ago (on Tuesday March 9) that the Dow Transports had broken through their 2010 which was a good sign for the stock market and the economy. That's because transportation stocks are cyclical in nature and do better...   READ MORE 

MEMBERS ONLY

MCCLELLAN SUMMATION INDICES EXCEED JANUARY HIGHS - NET ADVANCES VERSUS NET ADVANCING VOLUME - NYSE AD LINE CONTINUES ITS RUN - NYSE AD VOLUME LINE HITS NEW HIGH - NASDAQ AD VOLUME LINE EXCEEDS 2007 HIGH - SHORT-TERM BREADTH WEAKENS

by John Murphy,

Chief Technical Analyst, StockCharts.com

MCCLELLAN SUMMATION INDICES EXCEED JANUARY HIGHS... Link for todays video. There are many ways to measure breadth. AD Lines and AD Volume Lines are two of the purest breadth indicators. The raw data goes through relatively little manipulation and the formula is simple. While the McClellan Oscillator and Summation Index...   READ MORE 

MEMBERS ONLY

WEAKER DOLLAR BOOSTS GOLD -- NEWMONT LEADS MINERS HIGHER -- CANADIAN DOLLAR HITS 52-WEEK HIGH AND IS STRONGEST CURRENCY

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOUNCE IN EURO WEAKENS DOLLAR ... Chart 1 shows the U.S. Dollar Index continuing the pullback that started nearly a month ago. A lot of the recent selling is the result of a bounce in Euro as shown in Chart 2. Although no major trend reversals have taken place, the...   READ MORE