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Latest Posts

BLUE Looking At Blue Skies Ahead?

by Tom Bowley

Biotechnology stocks ($DJUSBT) were the second best performing industry group last week, trailing on renewable energy ($DWCREE).  Both groups appear poised to continue their rally based on their longer-term weekly technical outlook.  Therefore, it's probably not a bad idea to look at stocks in these groups that pull back to find critical price support levels from where they're likely  Read More

DecisionPoint Weekly Wrap -- Troubling Negative Divergences

by Carl Swenlin

SPY began the week with a breakout on very high volume that subsequently looks like a minor blowoff, as price retreated back into the June trading range. The expansion of New Highs on Monday failed to match the climactic level of New Highs on June 2, and a PMO top implies that we could be in for more churning, and maybe a bit of a decline. The DecisionPoint Weekly Wrap presents  Read More

6/23 MarketWatchers Recap - Industries on Fire - ETF Spotlight - Sentiment

by Erin Heim

  Welcome to the recap of Friday's MarketWatchers LIVE show, your antidote for the CNBC lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but we will give you a quick recap. Be sure and check out the  Read More

Charts I'm Stalking: Action Practice #17

by Gatis Roze

This is all about your fiscal fitness and future financial fate.  Pay attention! I've written before about the indisputable number of academic studies proving asset allocation is the highest leverage activity that individual investors can focus on.  Although this blog will touch upon this, it will be focused instead on the principles of CORE & EXPLORE investing.  Though...  Read More

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Weekly Market Review & Outlook (w/ Video) - Two of Nine Sector SPDRs Hit New Highs

by Arthur Hill

.... SPY Breaks out of Flag Pattern .... QQQ Holds the Gap as IJR Forms Bull Flag .... Industrials and Healthcare Lead with New Highs .... Tech, Discretionary and Finance Lag a Bit .... First Supports for Materials, Staples and Utilities  .... Energy - Enough Said .... Tech ETF Bounce from Oversold Levels .... Insurance and Regional Banks Fall Back .... Not all Commodities are Down This  Read More

Find the Gap: What Are Jumbo Gaps? Can You Profit From Jumbo Gaps?

by Tushar Chande

Are jumbo gaps an oxymoron like "jumbo shrimp"?  I found some similarity between shrimp sizes and normalized up-side gaps (see Chart 1).   Do such jumbo gaps offer trading opportunities? I tried to quantify just that, and here is what I found. By the way, just as the number of shrimp per pound drops rapidly once the size goes above "Jumbo", similarly the frequency of occurrence  Read More

Commodities Countdown Video Recording 2017-06-22

by Greg Schnell

This weeks edition of Commodities Countdown suggests renewed weakness in Agriculture as well as the energy space. There are two interesting commodity areas to watch over the next week. First Solar and the TAN ETF are interesting as well as the precious metals.  Commodities Countdown With Greg Schnell 2017-06-22 from  Read More

DP Alert: NEW PMO SELL Signals on $OEX and $SPX - TLT Closing the Gap

by Erin Heim

The S&P 500 triggered a new PMO SELL signal yesterday at the close. Today, the S&P 100 joined in with its own PMO SELL signal. At this point, the Dow is the only one holding onto a PMO BUY signal, but a quick peek at the chart and we can see the PMO has topped and is heading down. The purpose of the DecisionPoint Alert Daily Update is to quickly review the day's action...  Read More

BioMarin Next In Line For Breakout Among Biotechs?

by Tom Bowley

BioMarin Pharmaceutical (BMRN), like the overall biotech industry ($DJUSBT), has struggled for the past 18 months to clear overhead price resistance.  But over the past couple trading sessions, we have seen one biotech company after another clear resistance on strong volume and accelerate.  It appears that BMRN is awaiting its turn.  While its gains this week have been strong,  Read More

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FALLING ENERGY PRICES ARE AFFECTING BOND RELATIONSHIPS -- LONGER MATURITIES ARE RISING FASTER

by John Murphy

LONGER MATURITY BONDS ARE RISING FASTER ... We can often get clues about market sentiment by comparing different parts of the fixed income universe. A lot has been written about the falling yield curve, which plots the difference between 10-Year and 2-Year Treasury yields. That usually signals expectations for lower inflation. Here's another variation on that theme. The green line in  Read More

Canadian Market In Correction

by Greg Schnell

After months of watching the oil stocks underperform crude, the broader Canadian $TSX was able to withstand some of the selling. Now the breadth of the market has shrunk considerably. All market breadth measures are weak. The chart below shows the Bullish Percent Index ($BPTSE). This measures the number of stocks on a buy signal. The blue vertical lines on the chart show when the $BPTSE...  Read More

Biotechs Explode, Send Healthcare To Leadership Role; Energy Runs Out Of Fuel

by Tom Bowley

Market Recap for Wednesday, June 21, 2017 Biotechs ($DJUSBT) are the "semiconductors of healthcare".  When they move,  they move!  Healthcare (XLV, +1.27%) was easily the best performing sector on Wednesday as the DJUSBT soared 3.43%.  Unless we see a major reversal between today and tomorrow, we'll have a very significant breakout on...  Read More

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ADRs, ETFs and Currency - Analysis for EEM, Poland, China, Italy and Spain

by Arthur Hill

.... Vodafone in Dollars vs Pounds .... Index versus ETF versus Currency .... Emerging Markets ETF Hits Top of Channel .... Poland ETF Stalls within Uptrend .... China A-Shares ETF Breaks Out .... Italy and Spain Consolidate Gains .... Vodafone in Dollars vs Pounds Today I will take a look at some international ETFs. Before looking at some individual chart patterns, I would like to cover the...  Read More

What's Up With Techs? Price

by Erin Heim

Today on MarketWatchers LIVE (airs M/W/F Noon - 1:30p EST) during the regular market updates, I noticed technology was rallying strongly. If you recall, the Nasdaq has been taking it on the chin more than the other major indexes on declines which is why the NDX is the only index Scoreboard carrying a PMO SELL signal. The question is whether we will see more rally. Below is the intraday Market...  Read More

6/21 MarketWatchers Show Recap - Biotechs Breakout - Chart Patterns

by Erin Heim

  Welcome to the recap of Wednesday's MarketWatchers LIVE show, your antidote for the CNBC lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but here's a quick recap. Be sure and check out the  Read More

MACD Histogram Teeters as AT&T Breaks Wedge Line

by Arthur Hill

Despite a strong stock market in 2017, AT&T ($T) is having a tough time with a breakdown in early May and a sharp decline below the 200-day SMA. The stock rebounded after a double-digit decline with a bounce back to the 200-day SMA, which is now falling. Thus, we can clearly say the long-term trend is down for this stock. Short-term, the rebound ended as the stock broke the wedge line and...  Read More

Biotechs Breakout, Lead Healthcare Stocks Higher

by Tom Bowley

Market Recap for Tuesday, June 20, 2017 Healthcare (XLV, +0.33%) was one of just two sectors - utilities (XLU, +0.06%) was the other - to rise on Tuesday as much of Monday's gains was relinquished.  The good news, however, is that biotechs ($DJUSBT) made a significant breakout on Tuesday and that bodes well for the group over the next couple months.  History...  Read More

Clorox (CLX) Polishes A New High

by Greg Schnell

Clorox (CLX) is a big Consumer Staples company showing off a new 52-week high this week. The breakout jumps above a 2016 top and a high touched in March 2017. The volume has been tepid the last 4 or 5 weeks so that is a little concerning, but everything else on the chart looks polished! Good trading, Greg Schnell, CMT, MFTA    Read More

DP Alert: Dollar (UUP) ST Trend Model BUY Signal - Oil Hits Last Chance Support

by Erin Heim

No new signals yet on the DecisionPoint Scoreboards, but with index PMOs in decline, I suspect we will see some more if the bulls can't get a rally to stick. Last Friday, the OEX weekly PMO had a negative crossover SELL signal. The purpose of the DecisionPoint Alert Daily Update is to quickly review the day's action, internal condition, and Trend Model status of the broad market  Read More

$COPPER And The Miners - The Problem Continues

by Greg Schnell

$COPPER has been migrating sideways to down recently. The recent bounce off the 10 Week Moving Average is supportive. Back in May, I posted this chart suggesting that if $COPPER could get going, the global mining stocks should also reflect that bullish enthusiasm. While $COPPER has been able to hold above its 40-Week Moving Average (40 WMA), none of the major miners are able to follow...  Read More

Back to Basics: Changing Your CandleGlance ChartStyle

by Tushar Chande

A user asked me how I added the Chande Trend Meter to my CandleGlance view configuration.  So this blog post goes back to basics and shows step-by-step how easy it is to change the default Candle Glance configuration in StockCharts.  It will make you appreciate how simple yet powerful StockCharts is.   First, set up a chart with the indicators of your choice displayed as you wish...  Read More

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Is The Dollar Really In A Bear Market?

by Martin Pring

The long-term setting Short-term considerations Some individual currencies are vulnerable over the short-term Conclusion The long-term setting A few weeks ago I pointed out that the Dollar Index ($USD) had violated its bull market trendline, as well as the 65-week EMA and 12-month MA, two key long-term smoothings. That type of evidence, in conjunction with a...  Read More

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HEALTHCARE IS YEAR'S SECOND STRONGEST SECTOR -- IT ALSO OFFERS GREAT VALUE

by John Murphy

HEALTHCARE IS GETTING A LOT STRONGER ... I continue to believe that healthcare is one of the best values in the stock market. And it's attracting a lot of investor attention. Chart 1 shows the Health Care SPDR (XLV) trading at a new record high after clearing its mid-2015 peak. Its relative strength line (top of chart) is trading at the highest level since last November...  Read More

Technology Stocks Rebound Sharply, Lift S&P 500 To Next Record

by Tom Bowley

Market Recap for Monday, June 19, 2017 Technology (XLK, +1.48%), healthcare (XLV, +1.04%) and financials (XLF, +1.03%) led a broad-based rally on Monday that included seven of the nine sectors.  Only energy (XLE, -0.63%) and the defensive utilities (XLU, -0.33%) failed to participate in the rally.  While it was nice to see computer hardware ($DJUSCR) bounce off its...  Read More

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Market Shows Broad Strength, Techs Get Mojo Back, Bank ETFs Stall and 12 Stock Setups

by Arthur Hill

.... Big Techs Regain their Mojo .... Finance, Healthcare, Industrials and Materials Lead .... Short-term Yields Diverge from Long-term Yields .... Bank ETFs Stall after Breakouts  .... Two Big Pharma Stocks: BMY and MRK .... 3 Hospital Stocks: HCA, LPNT, THC .... Four Networking Stocks: ARRS, CIEN, CSCO, FNSR .... XRX Breaks Out, FEYE Forms Flag and RLGY Breaks Wedge Line ....  Big...  Read More

6/19 MarketWatchers LIVE Recap - Monday Set-ups - EarningsBeats - Agree or Disagree

by Erin Heim

  Welcome to the recap of Monday's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but in the MWL Blog will give you a quick recap. Be sure and check out  Read More

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WHILE TECHNOLOGY HAS SLIPPED, FINANCIALS AND HEALTHCARE HAVE BECOME MARKET LEADERS -- HEALTHCARE SPDR HITS RECORD HIGH

by John Murphy

TECHNOLOGY IS NOT THE STRONGEST SECTOR ... Although a rebound in technology is getting the most attention, it's not the main reason that stock indexes are hitting new highs. Most of that credit goes to financials and healthcare. The daily bars in Chart 1 show the Technology SPDR (XLK) rebounding today after finding support at its 50-day average. The XLK remains well  Read More

Breakout in Biotech SPDR Signals Trend Continuation

by Arthur Hill

The Biotech SPDR (XBI) is starting to lead the market again with a consolidation breakout and 52-week high. The chart shows the ETF hitting an initial 52-week high in February and then consolidating for four months. It looks like this consolidation is ending and the bigger uptrend is resuming with this week's breakout. Using a parallel channel for a target, the upper trend line extends to the...  Read More

Amazon Buys Whole Market.....Literally

by Tom Bowley

Special Announcement At 4:30pm EST this afternoon, just after the U.S. stock market closes, I'll be joining John Hopkins, President of EarningsBeats.com, for a special 90 minute presentation.  John will discuss the benefits of trading companies that have reported strong quarterly revenues and earnings (ahead of Wall Street estimates) and I'll demonstrate how to create...  Read More

Top 5 Investing Mistakes You Make When Young

by Greg Morris

I am not young anymore, so am going to reveal mistakes I made in the first half of my investing lifetime; about 1972 – 1990.  Sadly, I did not learn lessons quickly so repeated some of them.  These are not in any particular order.  A better title might be True Confessions.   1. Believing that I was right and the market was wrong.  I don't know whether this is ignorance...  Read More

Cerner Corp Tests Key Price Support

by Tom Bowley

It's always nice to go back to the basics of technical analysis.  Broken resistance becomes support.  That's currently the case with Cerner Corp (CERN) where the stock recently cleared price resistance just above 65.00 and, with recent profit taking, we've seen a return to that price support level.  There's also a nice 2017 uptrend in play that shows multiple touches and CERN is...  Read More

DecisionPoint Weekly Wrap -- Market Indicators Look Bad

by Carl Swenlin

About three weeks ago I began looking for the market to consolidate or correct because of price being very overbought based upon its extreme departure from the 200EMA. So far we have two weeks of price churning sideways, and that has gotten the technical indicators in a condition that promises more of the same, if not an outright correction. Let's take a closer look. The  Read More

Why Breadth Matters Today

by Greg Schnell

The US markets and Canadian markets are totally different beasts right now, but it makes a great learning moment to look at both of them to understand how markets break down. The chart below is the Bullish Percent Index for the Nasdaq Composite ($BPCOMPQ). I have two other plots on the chart. On top is the plot of the Nasdaq Composite ($COMPQ) and the...  Read More

A Deep Dive Into the Industrials Sector

by Tushar Chande

The Industrials Sector via the Industrials Select Sector SPDRs XLI ETF has risen to the top of my Chande Trend Meter rankings, as the mighty Technology Sector (XLK) consolidates.  I will take a deeper look at the the constituents of the XLI and identify some of the strongest stocks in this sector, which accounts for some 10.4% of the S&P 500 index. I will also examine the performance  Read More

Summer Generally Means Trading Quality, Not Quantity

by Tom Bowley

History tells us many things.  One of the lessons is that making money on the long side is much more difficult during the summer months.  Why?  It's rather simple.  On the S&P 500 since 1950, here are the annualized returns by calendar months over the summer: June:  -0.02% July:  +12.21% August:  -1.07% September:  -6.01% Including the current...  Read More

More Pie. Bigger Sky!

by Bruce Fraser

In 2011 Dr. Hank Pruden published a remarkable Point and Figure chart study, which called for a new bull market in stocks. The horizontal PnF counting method, as applied by Dr. Pruden, revealed a price objective of 17,600 / 19,200. That count produced a whopping 11,100 Dow Jones Industrial Average (INDU) points and was added to the countline of 8,100 and the low of 6,500. A big and bold...  Read More

Charles Dow and Leonardo Fibonacci Walk into a Bar

by Arthur Hill

The bar was 61.8 inches off the floor, but Leondardo still did not see it. All (bad) joking aside, I would like to look at corrections through the eyes of Charles Dow and Leonardo Fibonacci. These two may seem miles apart at first glance, but the numbers suggest otherwise. In fact, Dow and Fibonacci are pretty much on the same page when it comes to retracement amounts. Charles orders a...  Read More

S&P 100 Flips Back to IT PMO SELL Signal - DP Scoreboard Weekly Charts

by Erin Heim

On the last trading day of the week, the DecisionPoint IT Price Momentum Oscillator (PMO) signals go "final". Today saw a new weekly PMO SELL signal on the OEX. Some may recall that just last Friday the OEX triggered a weekly PMO BUY signal. Don't let the very "green" Scoreboards fool you, there is deterioration in momentum on nearly all daily and weekly charts for these four indexes. To see  Read More

Falling Commodity Prices Are a Big Reason Why Inflation Is So Low

by John Murphy

Ever since Wednesday's Fed rate hike, and the press conference by Janet Yellen, I've been thinking a lot about inflation. I believe the Fed is underestimating how weak inflation really is. I also believe that's because it's looking in the wrong places. Or, more to the point, it's ignoring the weak signals hiding in plain sight. Namely, falling commodity prices. Chart 1 shows the...  Read More

Managing Risk - Identifying Strong Reward to Risk Trading Candidates

by John Hopkins

If you are looking for ways to manage risk in an increasingly volatile environment then you should start by searching for the "best of the best"; those companies that beat earnings expectations and have solid charts. This makes an awful lot of sense if you think about it; riding the coattails of those stocks that are both fundamentally and technically sound. For example, take a look at the  Read More