Members Only

MEMBERS ONLY

STOCKS EXTEND STALL - BONDS DECLINE ON BERNANKE REMARKS - HIGH YIELD BOND ETF HIT HARD - CORPORATE BOND ETF FORMS LOWER HIGH - JUNK VERSUS INVESTMENT GRADE - PERCENT OF STOCKS ABOVE 50-DAY PLUMMETS

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS EXTEND STALL... Link for todays video. Stocks stalled again on Wednesday with the major indices finishing mixed. Actually, most indices were down slightly with fractional gains coming from the Russell 2000 ($RUT) and the S&P 600 SmallCap Index ($SML). Small-caps showed a little relative strength today. Eight...   READ MORE 

MEMBERS ONLY

BIG DROP IN GREEK BOND YIELDS ENCOURAGES STOCK AND COMMODITY REBOUND AS DOLLAR DROPS -- MATERIALS ARE DAY'S STOCK LEADERS -- A LOT OF 200-DAY AVERAGES ARE HOLDING FOR NOW -- THAT SUGGESTS A SHORT-TERM BOTTOM

by John Murphy,

Chief Technical Analyst, StockCharts.com

MATERIALS LEAD GLOBAL REBOUND... A 40 basis point plunge in Greek bond yields, which is the biggest drop in more than a decade, has increased hopes for some type of aid to that endangered economy. That has eased downside pressure on the Euro and caused some profit-taking in an overbought...   READ MORE 

MEMBERS ONLY

DOLLAR BECOMES OVERBOUGHT AGAIN - GOLD REMAINS TIED TO THE DOLLAR - AN ABC CORRECTION FOR GLD - OIL FLIRTS WITH SUPPORT - LONG-TERM RATES RISING

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR BECOMES OVERBOUGHT AGAIN... Link for todays video. For the second time in two weeks, the US Dollar Index ($USD) surged and became overbought. Chart 1 shows the index with 14-day RSI moving back above 70. This is also the third overbought reading since December 21st. While overbought readings increase...   READ MORE 

MEMBERS ONLY

FRIDAY UPSIDE REVERSAL MAY GIVE WAY TO OVERSOLD BOUNCE AS NYSE INDEX BOUNCES OFF NOVEMBER LOW -- MATERIAL AND FINANCIAL SPDRS BOUNCE OFF 200-DAY LINES -- SELL SIGNAL IN NYSE BULLISH PERCENT INDEX, HOWEVER, ARGUES AGAINST QUICK RECOVERY

by John Murphy,

Chief Technical Analyst, StockCharts.com

MATERIALS AND FINANCIALS BOUNCE OFF 200-DAY LINES ... The stock market remains in a downside correction as evidenced by the breaking of initial support levels and negative turns in several longer-term technical indicators (more on that later). Friday's heavy-volume upside reversal, however, suggests that a short-term bottom may have...   READ MORE 

MEMBERS ONLY

STOCKS AND DOLLAR CONTINUE INVERSE CORRELATION - CHINA LEADS LOWER WITH BREAKDOWN - GLOBAL INDICES HIT HARD - COMMODITIES AFFECTED BY DOLLAR AND STOCKS - NATURAL GAS FORMS FALLING FLAG

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS AND THE DOLLAR CONTINUE INVERSE CORRELATION... Link for todays video. Maybe this time its different, but the sharp rise in the Dollar could be a big negative for the stock market. The Dollar and the stock market have had an inverse relationship for most of the last two years....   READ MORE 

MEMBERS ONLY

SECTOR AND GLOBAL ROTATION VIEWS ARE PART OF MARKET ANALYSIS -- RECENT ROTATIONS AND MARKET SIGNALS HAVE WARNED OF GLOBAL CORRECTION -- DURING AN INTERMEDIATE DOWNSIDE CORRECTION, SHORT-TERM TRADERS SHOULD BE SELLING BOUNCES NOT BUYING THEM

by John Murphy,

Chief Technical Analyst, StockCharts.com

SECTOR ROTATION STRATEGIES ARE PART OF MARKET ANALYSIS... Given all of the warnings sounded by Arthur Hill and myself since mid-January, I was somewhat surprised at some e-mail messages I received today. One reader accused me of focusing too much on sector rotation strategies and ignoring the broader market. A...   READ MORE 

MEMBERS ONLY

SPAIN LEADS GLOBAL SELLOFF AS DEFAULT FEARS GROW IN EUROPE -- COMMODITIES ARE SELLING OFF HARD AS DOLLAR RALLIES -- SO ARE COMMODITY-RELATED STOCKS -- THE ONLY OTHER SAFE HAVENS ARE TREASURIES AND THE YEN

by John Murphy,

Chief Technical Analyst, StockCharts.com

SPAIN SHARES LEAD GLOBAL RETREAT IN STOCKS AND COMMODITIES... Growing fears that some European countries may have trouble financing their deficits is rattling global stock and commodity markets. Those fears started in Greece and have now spread to Spain and Portugal. Chart 1 shows Spain iShares (EWP) tumbling 7% to...   READ MORE 

MEMBERS ONLY

BOND ETF HITS RESISTANCE - DOLLAR CONTINUES ITS RISE - LESSONS FROM PRIOR BEAR MARKET - A QUICK TOP ON 2001 - A DRAWN OUT TOP IN 2002 - TECHNICAL ANALYSIS IS FRACTAL - S&P 500 HITS IMPORTANT RESISTANCE ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOND ETF HITS RESISTANCE... Link for todays video. After a pretty good rally in January, the 20+ Year Treasury ETF (TLT) hit resistance last week and fell back over the last three days. Chart 1 shows TLT breaking support the 91.5-93 support zone with a sharp decline in December....   READ MORE 

MEMBERS ONLY

DOLLAR PULLS BACK FROM 200-DAY AVERAGE AS COMMODITIES BOUNCE OFF CHART SUPPORT -- SURGING LUMBER PRICES MAY CARRY GOOD NEWS FOR HOMEBUILDERS AS DR HORTON LEADS A STRONG HOUSING RALLY -- MARKET REBOUNDS AGAIN ON LIGHT VOLUME

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR PULLBACK BOOSTS COMMODITIES... Chart 1 shows the DB Bullish Dollar Fund (UUP) meeting some resistance near it 200-day moving average. That's giving a nice boost to commodity markets which is coming at a good time since several commodities are testing support levels. Chart 2, for example, shows...   READ MORE 

MEMBERS ONLY

BIOTECHS SHOW NEW HEALTHCARE LEADERSHIP -- BIOTECH HOLDERS NEAR RECORD HIGH -- BIOGEN NEARS BULLISH BREAKOUT AS AMGEN TURNS UP -- GILEAD HITS SIX-MONTH HIGH WHILE GENZYME EXCEEDS 200-DAY LINE -- FIDELITY BIOTECH FUND IS WEEK'S TOP GAINER

by John Murphy,

Chief Technical Analyst, StockCharts.com

BIOTECH HOLDERS TEST OLD HIGHS ... We've been writing for several months about the new upside leadership in the healthcare sector, and have taken that as a sign that investors were turning a bit more defensive. [The same is true of consumer staple stocks]. Chart 1 shows the Health...   READ MORE 

MEMBERS ONLY

DOLLAR INDEX HITS FIVE MONTH HIGH ($USD,$XEU) - GOLD FINDS SUPPORT ($GOLD,GLD) - OIL HITS POTENTIAL SUPPORT ($WTIC) - BONDS HIT RESISTANCE ZONE ($USB)

by John Murphy,

Chief Technical Analyst, StockCharts.com

US DOLLAR INDEX HITS FIVE MONTH HIGH... Link for todays video. The US Dollar Index ($USD) reversed course in December and continued strong in January. Weakness in the Euro is the main catalyst for this move. Currencies, and other securities for that matter, can decline simply from a lack of...   READ MORE 

MEMBERS ONLY

SUPPORT COMING INTO PLAY FOR IWM AND SPY - AD VOLUME LINES DECLINE FROM 52-WEEK HIGHS - NET NEW HIGHS HIT MOMENT-OF-TRUTH - BULLISH PERCENT INDICES REMAIN ABOVE 50% - TECHNOLOGY MATTERS

by John Murphy,

Chief Technical Analyst, StockCharts.com

SUPPORT COMING INTO PLAY FOR IWM AND SPY... Link for todays video. With the January decline, the Russell 2000 ETF (IWM) has retraced around 50% of the November-January advance and returned to its triangle breakout. Chart 1 shows IWM breaking triangle resistance way back in early December. This broken resistance...   READ MORE 

MEMBERS ONLY

THE US DOLLAR ISN'T THE ONLY SAFE HAVEN CURRENCY -- THE JAPANESE YEN HAS BEEN EVEN STRONGER DURING JANUARY -- THE YEN IS ALSO TURNING UP RELATIVE TO OTHER GLOBAL CURRENCIES IN UNWINDING OF CARRY TRADE AND MOVE TO SAFETY

by John Murphy,

Chief Technical Analyst, StockCharts.com

YEN IS ALSO A SAFE HAVEN CURRENCY ... Most currency focus has been on the rise in the U.S. Dollar since December. That has not only undermined the commodity rally, but is also siphoning money out of global stocks that had been trending in the opposite direction of the greenback....   READ MORE 

MEMBERS ONLY

JANUARY ROTATION OUT OF EMERGING MARKETS AND BASIC MATERIALS INTO CONSUMER STAPLES AND HEALTCHARE SHOWS MOVE AWAY FROM RISK AND TOWARD SAFETY -- TECHNOLOGY IS FALLING HARD TODAY AND IS PULLING REST OF MARKET LOWER

by John Murphy,

Chief Technical Analyst, StockCharts.com

MARKETS TURN RISK AVERSE... Arthur Hill has been showing the recent rotation out of former market leaders and into defensive market sectors that are considered to be risk averse. It's an important point that bears repeating. While it's important to look at the technical condition of...   READ MORE 

MEMBERS ONLY

DOW ETF FIRMS NEAR SUPPORT (DIA) - PULLBACK HITS FIRST TEST ($COMPQ,$NYA) - LESS THAN 50% OF STOCKS ABOVE THEIR 50-DAY SMAS - COMMODITIES REMAIN UNDER PRESSURE (DBC,DBA,DBB) - AMGEN AND GILEAD LIFT BIOTECHS (BBH,AMGN,GILD)

by John Murphy,

Chief Technical Analyst, StockCharts.com

DIA FIRMS NEAR SUPPORT ... Link for todays video. After becoming oversold with last weeks decline, stocks firmed over the last three days. Important support levels are coming into play for a number of key indices and ETFs. Chart 1 shows the Dow Diamonds (DIA) hitting support around 101-102. This support...   READ MORE 

MEMBERS ONLY

CHINA LEADS GLOBAL RETREAT -- INTERMARKET REVERSALS RAISE WARNING FLAGS -- MARKET IS OVERSOLD SHORT-TERM -- BUT WEEKLY MACD LINES HAVE TURNED NEGATIVE -- THAT INCREASES ODDS FOR A 10% CORRECTION

by John Murphy,

Chief Technical Analyst, StockCharts.com

CHINA ISHARES LEAD GLOBAL RETREAT... I wrote a message on January 12 about Chinese central bankers starting to tighten credit, and the fact that Chinese stocks were no longer showing relative strength. In fact, China had lagged the global rally for several months. The biggest negative divergence took place in...   READ MORE 

MEMBERS ONLY

ELLIOTT WAVE COUNT FOR THE S&P 500 - RELATIVE STRENGTH IN DEFENSIVE SECTORS - MEDIUM-TERM UPTRENDS REMAIN IN FORCE - LONG-TERM WEAKNESS IN FINANCE - COMMODITIES LIKELY TO FOLLOW STOCKS - XLE HITS LONG-TERM RESISTANCE ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

ELLIOTT WAVE COUNT FOR THE S&P 500 ... Link for todays video. At the risk of opening Pandoras box, I am going to offer some long-term Elliott Wave analysis for the S&P 500. Like much of technical analysis, Elliott Wave is subjective and open to interpretation. Chart...   READ MORE 

MEMBERS ONLY

TECHS LEAD THE MARKET LOWER - A ROUGH MONTH FOR TECHNOLOGY - FROM BIG BANKS TO BIG TECHS - VOLATILITY SPIKES - MAJORITY OF STOCKS STILL ABOVE THEIR 200-DAY SMA - PERCENT ABOVE THEIR 50-DAY SMA PLUMMETS

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHS LEAD THE MARKET LOWER ... Link for todays video. John Murphy is away this week and will return next week. Stocks came under pressure again on Friday with the technology sector leading the way lower. Chart 1 shows the Nasdaq 100 ETF (QQQQ) breaking below consolidation support on Thursday and...   READ MORE 

MEMBERS ONLY

DOW DROPS OVER 200 ($INDU,$TRAN) - MATERIALS SECTOR LEADS MARKET LOWER (XLB) - STEEL, METALS AND MINING PACE MATERIALS LOWER (SLX,XME) - BIG BANKS HIT HARD (XLF) - KEY INVESTMENT BANKS GIVE UP JANUARY GAINS (JPM,GS,MS)

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW DROPS OVER 200... Link for todays video. Stocks moved broadly lower on Thursday with the Dow loosing over 200 points. All major indices and sectors finished lower on the day. Chart 1 shows the Dow Industrials closing above 10700 on Tuesday and 10400 today. This two day decline was...   READ MORE 

MEMBERS ONLY

STOCKS GIVE UP TUESDAYS GAINS (QQQQ, IWM) - FINANCE SECTOR HOLDS UP RELATIVELY WELL (XLF, BAC, STT) -DOLLAR SURGES AS EURO PLUNGES (UUP) - EURO BREAKS 200-DAY SMA (FXE) - GLD ETF BREAKS BELOW 110 (GLD) - CHINESE STOCKS FALL SHARPLY ($SSEC)

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS GIVE UP TUESDAYS GAINS... Link for todays video. Stocks came under pressure in early trading and closed lower. All major indices were down with small-caps and large techs leading the way lower. These two groups led the major indices higher on Tuesday, but the tables were turned on Wednesday....   READ MORE 

MEMBERS ONLY

TECHS AND SMALL-CAPS LEAD MARKET (AAPL, QCOM) - HEALTHCARE SPDR SURGES TO NEW HIGH (AMGN, LLY) - IGN EXCEEDS 2009 HIGHS (CIEN, CSCO) - DOLLAR ETF BOUNCES OFF KEY RETRACEMENT - EURO BREAKS FLAG SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

TECHS AND SMALL-CAPS LEAD MARKET HIGHER... Link for todays video.After a broad-based decline on Friday, buyers returned and pushed stocks higher on Tuesday. All of the major indices were up strong with large-cap techs and small-caps leading the way higher. Chart 1 shows the Nasdaq 100 ETF (QQQQ) in...   READ MORE 

MEMBERS ONLY

NASDAQ AND NY COMP FALL SHARPLY - BREADTH REMAINS BULLISH OVERALL - INTEL LEADS SEMIS LOWER - SMH PULLS BACK TO BROKEN RESIST - BONDS BOUNCE ON LOW CPI NUMBERS - INFLATION-INDEXED BONDS FOLLOW GOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS FALL SHARPLY ... Link for todays video. Stocks came under pressure for the second time this week. All of the major indices were down on Friday with the small-caps leading the way lower. All nine sectors were down with the finance sector leading lower. Healthcare, consumer staples and utilities, the...   READ MORE 

MEMBERS ONLY

IWM HOLDS DECEMBER BREAKOUT - QQQQ FORGES PRICE RELATIVE BREAKOUT - FINANCIALS START THE YEAR STRONG - REGIONAL ENTERS RETRACEMENT SUPPORT ZONE - EURO FORMS RISING FLAG - GOLD ETF ENTERS RETRACEMENT RESISTANCE ZONE

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS EDGE HIGHER IN MIXED TRADING... Link for todays video. All major indices finished slightly higher on Thursday, but trading was mixed within the sectors. Four sectors were up, three were down and two were unchanged. Healthcare led the way higher with the Healthcare SPDR (XLV) recording a new 52-week...   READ MORE 

MEMBERS ONLY

REIT ISHARES BOUNCE OFF CHART SUPPORT -- KIMCO ACHIEVES BULLISH BREAKOUT -- OTHER REIT LEADERS

by John Murphy,

Chief Technical Analyst, StockCharts.com

REIT ISHARES ARE BOUNCING OFF CHART SUPPORT... Last Thursday, I wrote about the improving chart picture in financials and homebuilders, and showed some individual stock leaders in each group. At the end of that message, I showed REIT iShares bouncing off chart support and showing good relative strength. I'...   READ MORE 

MEMBERS ONLY

CHINESE BANK TIGHTENING WORRIES GLOBAL STOCKS AND COMMODITIES -- ANOTHER WORRY IS THAT CHINESE STOCKS ARE NO LONGER LEADING THE REST OF THE WORLD HIGHER

by John Murphy,

Chief Technical Analyst, StockCharts.com

KEEPING AN EYE ON CHINA ... The announcement that China is tightening monetary policy by raising bank reserve requirements has caused nervous profit-taking in global stock and commodity markets. Since China has been the engine driving the global economic recovery (not to mention rising stock and commodity prices), any hint that...   READ MORE 

MEMBERS ONLY

DOW THEORY UPTREND CONTINUES -- CATERPILLAR AND CHEVRON ARE DOW LEADERS -- OVERSEAS SHIPBUILDING AND UPS CATAPULT TRANSPORTS TO NEW HIGH -- UTILITIES ARE LAGGING BEHIND BUT REMAIN IN UPTREND

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW THEORY UPDATE CONFIRMED ... Dow Theorists will be happy to see today's first two charts which show the Dow Industrials and Dow Transports hitting new recovery highs. Dow Theory holds that a healthy uptrend should see new highs in one index confirmed by the other, which is what...   READ MORE 

MEMBERS ONLY

FIBONACCI RETRACEMENTS REVISITED - SPY ADVANCES WITHIN CHANNEL - VOLUME FAILS TO IMPRESS, BUT PRICE DOES - AD VOLUME LINES HIT NEW HIGHS - NEW HIGHS EXPAND IN DECEMBER-JANUARY

by John Murphy,

Chief Technical Analyst, StockCharts.com

FIBONACCI RETRACEMENTS REVISITED... Link for todays video. Wednesdays Market Message triggered a number question regarding my decision to base retracements on the decline from May 2008 to March 2009. Chart 1 shows the S&P 500 ETF (SPY) with the Fibonacci Retracements Tool based on this decline. Representing the...   READ MORE 

MEMBERS ONLY

FINANCIALS CONTINUE TO SURGE -- REGIONAL BANK HOLDERS TURN UP AS WELL -- BANK RALLY IS HELPED BY JUMP IN HOMEBUILDERS -- REITS BOUNCE OFF SEPTEMBER PEAK AND CONTINUE TO SHOW RELATIVE STRENGTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIAL RALLY CONTINUES... On Tuesday, I showed the financial sector in the process of turning from a market laggard into a market leader. Chart 1 shows that new financial leadership continuing today. The Financials SPDR (XLF) has now exceeded its mid-November peak at 15.07 to turn its short-term trend...   READ MORE 

MEMBERS ONLY

COMMODITY ETF SCORES BIG - WHEAT LIFTS AGRICULTURE ETF - METALS ETF HITS NEW HIGH - MATERIALS LEAD THE MARKET - INVESTOR SENTIMENT SURVEYS HIT EXTREMES - SPY AND DIA EDGE ABOVE KEY RETRACEMENTS - QQQQ AND IWM EXCEED KEY RETRACEMENTS

by John Murphy,

Chief Technical Analyst, StockCharts.com

COMMODITY ETF SCORES BIG GAINS... Link for todays video. An array of positive factors boosted commodity related ETFs on Wednesday. Commodities benefited from weakness in the Dollar over the last two weeks and energy-related commodities benefited from the cold weather. In particular, oil surged over 10% in the last two...   READ MORE 

MEMBERS ONLY

FINANCIAL ETF EXCEEDS 50-DAY AVERAGE -- SO DO SEVERAL BIG BANKS AND BROKERS -- HARTFOLD FINANCIAL IS DAY'S FINANCIAL LEADER

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIAL LAGGARDS TURN UP ... We normally focus on market groups that have been market leaders. Today, however, I'm going to focus on the sector that has been the market's weakest throughout the fourth quarter. That would be the financials. The reason I'm turning to...   READ MORE 

MEMBERS ONLY

BULLS RING IN THE NEW YEAR - DOLLAR HITS RESISTANCE - RISING RATES BOOST THE DOLLAR - GOLD HITS SUPPORT ZONE - OIL SURGES - XLE AND OIH BREAK WEDGE TRENDLINES

by John Murphy,

Chief Technical Analyst, StockCharts.com

BULLS RING IN THE NEW YEAR... Link for todays video. The New Year started the same way the old year ended: bullish. The bulls were out in force early on the first trading day of the year. In early afternoon trading, the broad market indices were all up over 1%...   READ MORE 

MEMBERS ONLY

3 ITEMS TO WATCH IN 2010 - EMERGING MARKETS AND REITS LEAD 2009 - COMMODITIES DEPENDENT ON THE DOLLAR AND EMERGING MARKETS - RATES SET TO RISE IN 2010 - SHANGHAI COMPOSITE COULD BE LEADING THE S&P 500 - HAPPY NEW YEAR

by John Murphy,

Chief Technical Analyst, StockCharts.com

ITEMS TO WATCH IN 2010... Link for todays video. Todays commentary will feature a few items to watch in 2010. First, I am showing a PerfChart with seven different ETFs representing five different asset classes. This is a good way to watch the intermarket picture unfold as well as the...   READ MORE 

MEMBERS ONLY

DEFINING SANTA CLAUS RALLY -- BEST THREE MONTH SPAN ENDS IN JANUARY -- SECTOR SEASONALITY FAVORS ENERGY -- SEVERAL SECTORS END SEASONAL RUNS DURING JANUARY

by John Murphy,

Chief Technical Analyst, StockCharts.com

WE'RE IN SANTA TIME ... We're right in the middle of the Santa Claus rally and two-thirds of the way through the strongest period of the year for stocks. According to the Stock Traders Almanac, the Santa Claus rally encompasses the last five trading days of the...   READ MORE 

MEMBERS ONLY

BREADTH LINES HIT NEW HIGHS - BULLISH% STILL FAVORS THE BULLS - NASDAQ OUTPERFORMS NY COMPOSITE - QQQQ FORGES P&F BREAKOUT - SPY ESTABLISHES SUPPORT ON P&F CHART - HAPPY HOLIDAYS!

by John Murphy,

Chief Technical Analyst, StockCharts.com

BREADTH LINES HIT NEW HIGHS... Link for todays video.The Nasdaq AD Volume Line and the NYSE AD Line hit new 52-week highs on Tuesday. New 52-week highs in these breadth stats are bullish for the market overall. Chart 1 shows the Nasdaq AD Volume Line exceeding its Sep-Oct highs...   READ MORE 

MEMBERS ONLY

HOUSING STOCKS JUMP ON STRONG HOME SALES -- HOME DEPOT TESTS 2008 HIGH -- EARLY JANUARY EFFECT PUSHES SMALL CAPS TO NEW HIGHS -- ENERGY, BIOTECH, AND REIT ETFS TURN UP -- SEASONAL FACTORS FAVOR STOCKS THROUGH JANUARY -- VIX HITS NEW 2009 LOW

by John Murphy,

Chief Technical Analyst, StockCharts.com

HOMEBUILDER ETF TURNS BACK UP ... Today's report that November existing home sales exceeded expectations is having a bullish on housing stocks. Chart 1 shows the Homebuilders SPDR (XHB) breaking through a three-month down trendline. The ability of the XHB to stay above its 2009 up trendline is another...   READ MORE 

MEMBERS ONLY

BOND YIELDS SURGE ON GROWTH AND INFLATION FEARS AS INVESTORS FLEE TREASURIES -- BOUNCING DOLLAR KEEPS GOLD AND OIL ON THE DEFENSIVE -- INDUSTRIAL METAL SHARES, HOWEVER, HAVE A STRONG DAY -- SEMICONDUCTORS LEAD NASDAQ MARKET TO NEW HIGH

by John Murphy,

Chief Technical Analyst, StockCharts.com

RECORD YIELD CURVE ... Today's stock buying is coming at the expense of Treasury bonds. Chart 1 shows the T-Bond ETF (TLT) tumbling to the lowest level since August. Chart 2 shows the 10-Year T-Note Yield closing at the highest level since August. [The two charts are a mirror...   READ MORE 

MEMBERS ONLY

STOCKS REMAIN IN SHORT-TERM TRADING RANGE -- EURO BOUNCE HELPS STABILIZE GOLD AND OIL -- SEASONAL TRENDS MAY SUPPORT STOCKS THROUGH YEAREND -- TREASURIES LOSE GROUND ON FEARS OF HIGHER RATES IN NEW YEAR

by John Murphy,

Chief Technical Analyst, StockCharts.com

UPTREND IS STILL INTACT ... A Friday stock bounce kept major stock indexes stuck in a two-month trading range. Prices also remain above their 50-day averages which keeps the intermediate uptrend intact. Prices, however, remain below long-term resistance barriers near 10,500 in the Dow, 1120 in the S&P...   READ MORE 

MEMBERS ONLY

FINANCE SECTOR TESTS SUPPORT - REGIONAL BANK SPDR HITS RESISTANCE - BROKER - DEALER ISHARES CONSOLIDATES - DOWNGRADES WEIGH ON BIG BANKS - EURO PLUNGES AFTER GREECE DOWNGRADE - DOLLAR SURGES IN FLIGHT TO SAFETY - GREECE AND IRELAND UNDERPERFORM

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCE SECTOR TESTS SUPPORT... Link for todays video. The Financials SPDR (XLF) remains relatively weak over the last few months and the ETF is testing range support with a move lower today. Chart 1 shows XLF breaking below the triangle trendline and then stalling around 14.25 the previous seven...   READ MORE 

MEMBERS ONLY

BOLLINGER BANDS CONTRACT ON THE DOW - CUP-WITH-HANDLE FOR NY COMPOSITE - SMH CONSOLIDATES AFTER SURGE - INTEL DRAGS SMH DOWN - NVIDIA AND AMD COUNTER INTEL - BROADCOM AND XILINX HIT NEW HIGHS - AGRICULTURE ETF BOUNCES TO RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

BOLLINGER BANDS CONTRACT ON THE DOW... Link for todays video. The Fed met expectations by leaving rates and policy unchanged on Wednesday. In its policy statement, the FOMC made note of the usual suspects. While the Fed was positive on parts of the economy, continued weakness in the labor market...   READ MORE 

MEMBERS ONLY

DOLLAR REBOUND CONTINUES AS EURO BREAKS CHART SUPPORT -- US BOND YIELDS JUMP -- RISING DOLLAR THREATENS EMERGING MARKET LEADERSHIP -- S&P 500 MEETS LONG-TERM RESISTANCE NEAR 1120

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR INDEX BOUNCES OFF 2008 LOW ... The rebound in the dollar that started a couple of weeks ago is continuing. And the rally is coming off a prominent support level. Chart 1 shows the PowerShares Dollar Bullish ETF (UUP) bouncing off its early 2008 low near 22. Bounces off support...   READ MORE