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MCCLELLAN SUMMATION INDEX IS A LONG-TERM BREATH MOMENTUM INDICATOR THAT HAS REACHED A TWO-YEAR HIGH -- WHY THE MARKET COULD BE FORMING A BULLISH HEAD AND SHOULDERS BOTTOM

by John Murphy,

Chief Technical Analyst, StockCharts.com

MCCLELLAN OSCILLATOR IS STILL POSITIVE ... The McClellan Oscillator is a short- to intermediate-term momentum breadth indicator. It's calculated each day by taking the difference between the 39-day and 19-day exponential moving averages of the number of net advances on the NYSE (see Chart School for a more in-depth...   READ MORE 

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LONG-TERM INDICATORS SUGGEST THAT A BOTTOM MAY BE FORMING -- OVER THE SHORT-RUN, HOWEVER, A LOT OF MARKET MEASURES AND STOCKS ARE UP AGAINST 200-DAY AVERAGES WHERE THEY MAY RUN INTO RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

A MARKET BOTTOM IS A PROCESS, NOT AN EVENT... Global stock markets have enjoyed a nice rally since mid-March. Most U.S. stock indexes have rallied more than 20%. Some foreign stock indexes (like China) have done even better. Certain commodities (like copper) have also enjoyed a strong runup on...   READ MORE 

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A LOT OF LEADING GROUPS HAVE REACHED OVERHEAD RESISTANCE BARRIERS INCLUDING THE NASDAQ, SEMICONDUCTORS, BASIC MATERIALS, AND CONSUMER DISCRETIONARY -- THAT SUGGESTS THAT SPRING RALLY MAY BE NEAR COMPLETION

by John Murphy,

Chief Technical Analyst, StockCharts.com

NASDAQ AND CHIPS UP AGAINST RESISTANCE ... The rally from March 9 has reached a phase where further advances are going to be more difficult. That's because a number of groups that have led the spring rally have reached overhead resistance barriers. Technology is a good example. I'...   READ MORE 

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AUSTRALIAN DOLLAR, COPPER, AND CHINA ARE RALLYING TOGETHER -- SO IS PLATINUM -- DOLLAR BEAR FUND IS RISING

by John Murphy,

Chief Technical Analyst, StockCharts.com

CHINA ISHARES AND AUSSIE DOLLAR TEST 200-DAY AVERAGES... A week ago Friday I showed China iShares testing important resistance barriers. That's still the case. Chart 1 shows China iShares (FXI) testing not only its 200-day average, but its January high around 32. That's an important test...   READ MORE 

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BANKS LEAD MARKET HIGHER - REIT ETF BREAKS 50-DAY - PUBLIC STORAGE AND DUKE REALTY BREAK MARCH HIGHS - LEADING AND LAGGING SECTORS - BULLISH PERCENT INDEX LEADERS - DIA CHALLENGES BROKEN SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIALS LEAD THE CHARGE... Stocks opened strong this morning with financials leading the way higher. Chart 1 shows 60-minute bars for the Financials SPDR (XLF) over the last 6-7 weeks. Notice that XLF surged above 9.5 in mid March and then consolidated for around three weeks. As the red...   READ MORE 

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SPY HITS RESISTANCE AS MACD RISES IWM AND QQQQ HOLD THEIR GAPS BBBY SURGES ON HUGE VOLUME RETAIL SPDR HITS 200-DAY TECHS AND SMALL-CAPS SHOW LEADERSHIP STOCKS TO WATCH (AGILENT, FLOUR, KING PHARMA AND APPLIED MATERIALS)

by John Murphy,

Chief Technical Analyst, StockCharts.com

RESISTANCE COMING INTO PLAY... While this rally may have further room to run, a breather may be in order as resistance levels come into play on a number of charts. As noted last week, stocks became overbought after big advances in March. There are two ways to alleviate overbought conditions:...   READ MORE 

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MARKET PULLS BACK FROM SHORT-TERM OVERBOUGHT CONDITION -WEEKLY AND MONTHLY INDICATORS, HOWEVER, SUGGEST THERE'S MORE UPSIDE TO COME -- THAT'S ALSO TRUE OF THE NASDAQ AND FINANCIALS

by John Murphy,

Chief Technical Analyst, StockCharts.com

CCI IN OVERBOUGHT TERRITORY ... The stock market is undergoing its second straight day of selling. One of the reasons for the pullback is short-term overbought readings in some of our more sensitive momentum indicators. Chart 1, for example, shows the Commodity Channel Index (CCI) reaching overbought territory above 100 and...   READ MORE 

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REVIEW OF 13-34 EMA COMBINATION -- DAILY COMBO TURNS POSITIVE -- WEEKLIES ALSO IMPROVE -- MONTHLY MACD HISTOGRAM SHOWS IMPROVEMENT -- UPSIDE TARGET IS A TEST OF 2009 HIGH BY MAY -- AUSTRALIAN DOLLAR RALLIES WITH COMMODITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

DAILY EMA COMBO TURNS POSITIVE... I've received a number of requests to review the current position of the 13-34 exponential moving averages (EMAs). As you probably know, I place a lot of importance on that combination because of its strong track record over the years. I apply the...   READ MORE 

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QQQQ HITS NEW HIGH FOR 2009 DOW CHALLENGES 8000 DOW TRANSPORTS SHRUG OFF SURGING OIL REIT ISHARES TESTS CONSOLIDATION RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

QQQQ BREAKS 2009 HIGHS... News from around the globe brought buyers out in force on Thursday. First, the Financial Accounting Standards Board (FASB) announced new flexibility in mark-to-market accounting. Second, the G20 announced plans worth over $1 trillion to finance global trade and assist troubled countries. Chart 1 shows the...   READ MORE 

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DOLLAR FALLS AS STOCKS RISE EURO SURGES AFTER RATE CUT YEN DECLINES AGAINST THE DOLLAR WEAK DOLLAR DOES NOT HELP GOLD OTHER COMMODITIES RISE ON DOLLAR WEAKNESS BASE METALS ETF CHALLENGES JANUARY HIGHS

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR FALLS SHARPLY... The Dollar fell sharply as the appetite for risk surged on Thursday. Chart 1 shows the US Dollar Bullish ETF (UUP) in green with the S&P 500 ETF (SPY) in black. Notice how the Dollar advanced as stocks swooned in the first two months of...   READ MORE 

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NET NEW HIGHS APPROACH POSITIVE TERRITORY DIA BATTLES 50-DAY MOVING AVERAGE XLF AND RKH FORM CONSOLIDATIONS GLD PULLS BACK AFTER BIG SURGE VM WARE CHALLENGES RESISTANCE MEMC TESTS BREAKOUT BRISTOL MEYERS SURGES ON BIG VOLUME

by John Murphy,

Chief Technical Analyst, StockCharts.com

NET NEW HIGHS APPROACHING ZERO... Net New Highs can help distinguish between bear market rallies and sustainable advances. First, let's review the Net New Highs indicator. I apply a 10-day simple moving average to smooth the data series. The market has a bullish bias when there are more...   READ MORE 

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AFTER RISING MORE THAN 20% DURING MARCH, MARKET INDEXES ARE ENTITLED TO A PULLBACK -- FIBONACCI RETRACEMENT LINES SHOW POTENTIAL SUPPORT LEVELS

by John Murphy,

Chief Technical Analyst, StockCharts.com

RETRACEMENT SUPPORT LEVELS... The market has risen more than 20% since March 9 and is certainly entitled to a pullback. And it got one today. The good news is that the day's decline occurred on relatively light volume. While most groups fell, the biggest selling was seen in...   READ MORE 

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FINANCIALS LEAD STOCKS LOWER AS 50-DAY AVERAGES ARE BEING BROKEN -- TREASURY BONDS, THE DOLLAR, AND GOLD ARE BOUNCING -- MOST OTHER COMMODITIES ARE DOWN

by John Murphy,

Chief Technical Analyst, StockCharts.com

SUPPORT LEVELS ON HOURLY CHARTS... Global stocks are having a bad day. The S&P 500 is down -3.5% and is trading below its 50-day moving average. A close below that line would be a setback for the March rally . The Dow and the NYSE Composite Index are...   READ MORE 

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USING PERFORMANCE CHARTS TO SPOT INDUSTRY GROUP LEADERS -- 2009 LEADERS ARE INTERNET, SEMICONDUCTORS, OIL SERVICE, GOLD & SILVER, RETAIL, AND HOUSING -- ROTATION MODEL SHOWS IMPROVEMENT -- DROP IN EURO CAUSES SOME PROFIT-TAKING IN STOCKS AND COMMODITIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

PERFORMANCE CHARTS... One of our readers asked what tools we use to spot sector and industry group leaders. One of the easiest ways is to use the Performance Charts on our main menu. By clicking on that choice, you can chart group performance for U.S. stock indexes, commodity groups,...   READ MORE 

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CONSUMER DISCRETIONARY LEADS MARKET HIGHER RETAIL SPDR CLOSES IN ON 200-DAY SOFTWARE HOLDRS AND NETWORKING ISHARES TRACE OUT DOUBLE BOTTOMS SEMICONDUCTOR HOLDRS AND INTERNET ETF BREAK TO NEW HIGHS QQQQ TURNS POSITIVE FOR 2009

by John Murphy,

Chief Technical Analyst, StockCharts.com

CONSUMER DISCRETIONARY SPDR SURGES OVER 4% ... Led by strength in retail and transports, the Consumer Discretionary SPDR (XLY) surged 4.61% on Thursday. Chart 1 shows XLY up almost 29% in the last 13 days. This surge compares to the advance from late November until early December - when XLY...   READ MORE 

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FED PUSHES YIELDS LOWER TREASURY NOTE ETF BREAKS RESISTANCE TREASURY BOND ETF REMAINS RANGE BOUND INFLATION-PROTECTED BONDS CONTINUE TO OUTPERFORM - YEN GIVES UP LAST WEEK'S GAINS

by John Murphy,

Chief Technical Analyst, StockCharts.com

QE AND BONDS YIELDS... Bonds surged after the Fed announced its plan to purchase some $300 billion of long-term Treasuries last Wednesday. This quantitative easing (QE) is designed to push Treasuries higher and yields lower. Remember, yields move down as Treasuries move up. Chart 1 shows the relationship between the...   READ MORE 

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STOCKS RIDE THE ROLLERCOASTER SPY STALLS IN RESISTANCE ZONE QQQQ FORMS SPINNING TOP CANDLESTICK FINANCIAL ETFS REMAIN OVERBOUGHT REITS LAG THE MARKET DOLLAR TAKES A PUNCH GOLD BOUNCES ON DOLLAR WEAKNESS

by John Murphy,

Chief Technical Analyst, StockCharts.com

WILD DAY FOR STOCKS... Stocks went on a wild ride Wednesday. The S&P 500 started strong with a 2% surge in the first hour, but weakened and declined sharply into the afternoon. A final-hour surge pushed the index back into positive territory to end with a modest gain...   READ MORE 

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POSITIVE CHART DIVERGENCES SHOW MARKET IMPROVEMENT -- SECTOR ROTATIONS SHOW CONSUMER DISCRETIONARY STOCKS OUTPLACING STAPLES -- STOCKS SEE MINOR PROFIT-TAKING ON LOWER VOLUME

by John Murphy,

Chief Technical Analyst, StockCharts.com

POSITIVE DIVERGENCES... I made mention yesterday of the fact that several of our technical indicators were looking more positive. I'm referring primarily to "positive divergences" that have shown up during the most recent first quarter price drop. Here are two that I've shown before....   READ MORE 

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TREASURY PLAN TO BUY TOXIC ASSETS SPARKS STRONG STOCK DAY LED BY FINANCIALS AND HOMEBUILDERS -- COPPER AND OIL LEAD COMMODITY RALLY EASING DEFLATION FEARS -- CHINA AND EMERGING MARKETS SHOW UPSIDE LEADERSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 CLEARS 800 RESISTANCE AND 50-DAY AVERAGE... The Treasury's trillion dollar plan for buying bank toxic assets, combined with a strong February housing figure, sparked a strong day in both stocks and commodity markets. Financials and energy were the two strongest groups. Homebuilders and REITS...   READ MORE 

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TREASURY PLAN TO BUY BANK TOXIC ASSETS SENDS STOCKS HIGHER -- FINANCIALS AND HOMEBUILDERS LEAD RALLY -- ENERGY HAS STRONG DAY ON RISING COMMODITIES-- CHINA CONTINUES TO SHOW LEADERSHIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIALS LEAD MARKET HIGHER... In a repeat of how we started last week, financials are the leading a strong market rally today. The main catalyst is the Treasury's announcement of a one trillion public-private plan to buy banks' toxic assets. A jump in February existing home sales...   READ MORE 

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WEEK'S BIG WINNERS WERE GOLD AND TIPS AS INVESTORS BUY INFLATION HEDGES -- OIL SERVICE AND SEMICONDUCTOR INDEXES BACK OFF FROM 2009 HIGHS -- S&P 500 PULLS BACK FROM 800 LEAVING ROOM FOR ONE MORE DIP

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD STOCKS TOP 200-DAY AVERAGE... The Fed's midweek surprise announcement that it was buying Treasury bonds had a fairly predictable ripple effect through the various financial markets. Naturally, Treasury bond prices jumped and yields collapsed. The big drop in bond yields pushed the dollar sharply lower and commodities...   READ MORE 

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FINANCIALS TAKE A BREATHER BEARISH CANDLESTICKS FOR GOLDMAN, MORGAN STANLEY AND JP MORGAN CHASE MATERIALS AND ENERGY FOLLOW COMMODITIES HIGHER ALCAO SURGES ON BIG VOLUME

by John Murphy,

Chief Technical Analyst, StockCharts.com

FINANCIALS PULLBACK FROM OVERBOUGHT LEVELS... A day after the big Fed announcement, financial stocks declined from overbought levels. As noted yesterday, the Financials SPDR (XLF) and Regional Bank HOLDRS (RKH) were up substantially over the last two weeks. Charts 1 and 2 show both exceeding their 50-day moving averages and...   READ MORE 

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DOLLAR BEARISH ETF SURGES ON BIG VOLUME OIL BREAKS TRIANGLE RESISTANCE AGRICULTURE ETF BREAKS CHANNEL RESISTANCE NATURAL GAS ETF GETS OVERSOLD BOUNCE SILVER ETF BREAKS WEDGE RESISTANCE BASE METALS ETF CHALLENGES RESISTANCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOLLAR CONTINUES TO FALL... In a continuation from yesterday's breakdown, the US Dollar Bullish ETF (UUP) extended its fall in early trading on Thursday. Chart 1 shows the ETF down over 1% with move below 25. The bottom indicator window shows UUP with the S&P 500...   READ MORE 

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STOCKS RALLY AFTER FED STATEMENT FINANCIALS LEAD HIGHER HHH AND SMH HIT RESISTANCE BONDS SURGE AS RATES PLUNGE DOLLAR PLUNGES IN RESPONSE TO FED GOLD REVERSES TO CLOSE STRONG BONDS SURGE ON BOND PURCHASE PLAN

by John Murphy,

Chief Technical Analyst, StockCharts.com

FED STATEMENT STOKES THE BULLS... Stocks surged after the Fed announced plans to buy long-term Treasury bonds and increase its purchases of mortgage-backed securities. With today's announcement, the Fed is set to expand its balance sheet by over $1 trillion. With the money spigot open, the S&...   READ MORE 

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CONSUMER DISCRETIONARY STOCKS SHOW LEADERSHIP --HOME DEPOT AND RETAILERS HAVE STRONG DAY -- HOMEBUILDERS SHOW FIRST OF STABILIZATION IN NEARLY FOUR YEARS -- SEMIS AND OIL SERVICE STOCKS ALSO LEAD RALLY -- S&P 500 NEARS TEST OF 800 BARRIER

by John Murphy,

Chief Technical Analyst, StockCharts.com

ANOTHER GLIMMER OF HOPE... Over the last week, we've been writing about a stronger tone in financial stocks and the positive impact that's having on the rest of the market. Today, we're seeing another glimmer of hope in a rebounding consumer discretionary sector which...   READ MORE 

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FINANCIALS LEAD OVERSOLD MARKET HIGHER -- OTHER POSITIVES INCLUDE A PULLBACK IN THE DOLLAR, BONDS, AND GOLD AND BOUNCE IN COPPER AND OIL -- CHINA SHOWS RELATIVE STRENGTH

by John Murphy,

Chief Technical Analyst, StockCharts.com

AIG IS TODAY'S FINANCIAL LEADER... Most of today's headline is a repeat of the one I posted at midday last Tuesday just as the current market bounce was starting. I'm posting it again today to show that all of those positive forces are still...   READ MORE 

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WHICH ELLIOTT FIFTH WAVE IS BEING COMPLETED? -- DOW THEORY OVERLAPS WITH ELLIOTT WAVE -- THE DOW HAS COMPLETED A MAJOR DOWNSIDE TARGET -- WEEKLY RSI SHOWS BULLISH DIVERGENCE -- STOCKS MAY NEED ONE MORE DIP TO COMPLETE BOTTOM

by John Murphy,

Chief Technical Analyst, StockCharts.com

WHICH FIFTH WAVE IS THE MARKET COMPLETING?... On Tuesday, I offered my view of the current Elliott Wave structure. I suggested that the last leg down starting in January appeared close to completing the entire Wave 3 that started last May. That would pave the way for a Wave 4...   READ MORE 

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MARCH MADNESS HITS WALL STREET - KEY SECTORS LEAD ADVANCE SPX VOLUME REMAINS HIGH VIX BREAKS FEBRUARY LOW OIL BECOMES OVERBOUGHT FOR FIRST TIME SINCE JULY

by John Murphy,

Chief Technical Analyst, StockCharts.com

SMALL-CAPS AND MID-CAPS LEAD ... For the second time in three days, stocks surged with a broad advance on good volume. All sectors were up and almost all industry groups were higher. Small-caps led the way as the Russell 2000 ETF (IWM) gained over 6%. Mid-caps were a distant second with...   READ MORE 

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GOLD BOUNCES OFF SUPPORT SWISS FRANC WEIGHS ON EURO WEAK EURO BOOSTS GOLD

by John Murphy,

Chief Technical Analyst, StockCharts.com

GOLD GETS ANOTHER OVERSOLD BOUNCE... For the second time in as many weeks, the Gold SPDR (GLD) is bouncing off support after becoming oversold. Last week I showed GLD as 3-period RSI became oversold. This bounce did not hold as gold returned to support early this week. Once again, GLD...   READ MORE 

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EURO BOUNCES OFF SUPPORT BOND ETF REMAINS RANGE BOUND

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO EXTENDS ITS BOUNCE... Continued strength in stocks pushed the euro higher again on Wednesday. As John Murphy suggested on Tuesday, the dollar was part of the flight-to-safety trade. Conversely, the euro suffered in a risk-averse environment. With a big surge in stocks on Tuesday, risk-aversion took a back seat...   READ MORE 

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BREADTH SURGES ON BIG MOVE - SPX VOLUME VALIDATES SURGE - NDX VOLUME IS UNIMPRESSIVE - BEAR MARKET RALLIES CAN BE SHARP

by John Murphy,

Chief Technical Analyst, StockCharts.com

BREADTH SURGES ON NASDAQ AND NYSE ... Market breadth provides a means to measure the degree of participation in a market move. After big moves, breadth and volume are my first ports of call to judge the robustness of a move especially an advance. Advances with strong breadth and high volume...   READ MORE 

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S&P 500 COMES CLOSE TO 62% FIBONACCI TARGET NEAR 660 -- ELLIOTT WAVE ANALYSIS SUGGESTS BEAR MARKET IS CLOSE TO COMPLETING WAVE 3 WHICH STARTED LAST MAY -- THAT SHOULD LEAD TO A WAVE FOUR BOUNCE AND ONE MORE DOWNWAVE

by John Murphy,

Chief Technical Analyst, StockCharts.com

S&P 500 COMES VERY CLOSE TO 62% RETRACEMENT ... Some of our readers have asked me to revisit potential downside targets for the market. Chart 1 is an updated version of a chart I showed on February 27. That earlier chart showed that a 62% retracement of the secular...   READ MORE 

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CITIGROUP AND FINANCIALS LEAD OVERSOLD MARKET HIGHER -- OTHER POSITIVES INCLUDE A PULLBACK IN THE DOLLAR, BONDS, AND GOLD AND A BOUNCE IN COPPER AND OIL

by John Murphy,

Chief Technical Analyst, StockCharts.com

CITIGROUP LEADS FINANCIALS HIGHER... News that Citigroup is having a good quarter has pushed that stock sharply higher today and helped spark a global stock rebound. The daily bars in Chart 1 show Citigroup gapping 34% higher (and on rising volume). The 14-day RSI (solid line) is rebounding from an...   READ MORE 

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DOW THEORY STILL IN DOWNTREND -- RAILS ARE TIED TO TREND OF COMMODITIES WHICH IS DOWN -- WE CAN'T REFLATE WITH A RISING DOLLAR

by John Murphy,

Chief Technical Analyst, StockCharts.com

DOW THEORY STILL IN DOWNTREND... At the start of the 20th century, Charles Dow invented the Dow Theory. It was a simple idea. He created two stock indexes -- one for industrial stocks and one for the transports (which were exclusively rails). His reasoning was that both indexes should rise...   READ MORE 

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STOCKS FALL SHARPLY - FLIGHT TO SAFETY TRADE RESUMES -- BONDS GAP HIGHER - VOLUME SURGES ON NYSE AS PRICE DECLINE ACCELLERATES

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS FALL IN BROAD DECLINE... Today's Market Message was written by Arthur Hill. - Editor It was a sea of red on Wall Street. All nine sectors were lower with financials leading the way. Just when you thought they could not go any lower, chart 1 shows the...   READ MORE 

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EURO FALLS AFTER RATE CUT -- GOLD HITS SUPPORT ZONE -- TOP 10 DOW COMPONENTS - BIG BLUE BREAKS WEDGE SUPPORT

by John Murphy,

Chief Technical Analyst, StockCharts.com

EURO FALLS AFTER ECB DECISION... Today's Market Message was written by Arthur Hill. - Editor On Thursday, the European Central Bank (ECB) cuts its key rate by 50 basis points (bps) to 1.5%. Even though their key rate is at its lowest level ever, analysts expect further...   READ MORE 

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STOCKS GET OVERSOLD BOUNCE -- ENERGY AND MATERIALS LEAD THE WAY -- OIL AND BASE METALS JUMP OVER 8%

by John Murphy,

Chief Technical Analyst, StockCharts.com

STOCKS STAGE BROAD ADVANCE... Today's Market Message was written by Arthur Hill. - Editor The stock market staged a broad advance on Wednesday with eight of nine sectors moving higher. While this advance looks impressive by itself, it needs to be considered in the context of the prior...   READ MORE 

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STRANGE BEHAVIOR IN THE VIX -- VOLATILITY REMAINS RELATIVELY HIGH -- PUT/CALL RATIO STAYS SUBDUED -- SMOOTHING A PRICE SERIES

by John Murphy,

Chief Technical Analyst, StockCharts.com

VIX LAGS THE S&P 500 ... Today's Market Message was written by Arthur Hill. - Editor The S&P 500 Volatility Index ($VIX) measures the implied volatility for a basket of S&P 500 options, both puts and calls. John Murphy pointed out a rising...   READ MORE 

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FOREIGN STOCK CASH INDEXES (EXCEPT JAPAN) ARE STILL ABOVE THEIR 2002 LOWS -- THAT'S BECAUSE THEY HAD FURTHER TO FALL THAN THE U.S. -- THE U.S. DOLLAR IS RISING BECAUSE FOREIGN CURRENCIES ARE FALLING

by John Murphy,

Chief Technical Analyst, StockCharts.com

GLOBAL BENCHMARKS... A couple of readers ask where foreign stock markets were in relation to their 2002 lows. And they wanted to see the charts of the actual cash markets instead of Exchange Traded Funds. Charts 1 through 5 show five major foreign stock benchmarks through yesterday's close....   READ MORE 

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THE ONLY STOCK FUNDS GOING UP ARE BEAR FUNDS -- THE VIX IS ALSO RISING -- THE DOLLAR CONTINUES TO RISE ON SAFE HAVEN BUYING -- RUSSELL 2000 SMALL CAP INDEX BREAKS NOVEMBER LOW -- THE NASDAQ MAY BE NEXT -- TREASURY BONDS BOUNCE

by John Murphy,

Chief Technical Analyst, StockCharts.com

INVERSE ETFS ARE RISING ... Rather than showing you pictures of falling stock indexes, I'm going to show you charts of stock indexes that are rising. That would of course be inverse (or bear) ETFs. These inverse funds are designed to trade in the opposite direction of their respective...   READ MORE