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Latest Posts

Healthcare Sector Feeling Better

by Erin Heim

Tom Bowley and I have been talking on MarketWatchers LIVE about sector rotation and how the healthcare sector is getting more "healthy". Today I got confirmation that this sector is back in favor. A PMO BUY signal was generated on both the Healthcare SPDR (XLV) and on the equal-weight Healthcare ETF (RYH).   After enjoying  Read More

U.S. Equities Power Forward Amid Very Overbought Conditions

by Tom Bowley

Market Recap for Wednesday, October 18, 2017 The Dow Jones sliced through 23000 like a hot knife through butter.  Many times, these round numbers represent a psychological challenge for traders, but that was not an issue for this bull market.  Instead, the Dow Jones soared 160 points to yet another all-time closing high.  The S&P 500 and NASDAQ followed...  Read More

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Flag Failure in Oil & Gas Equipment & Services ETF Could Bode Ill for Oil and XLE - Small-caps Correct - Oracle Bounces

by Arthur Hill

.... Small-cap ETFs Form Falling Flags .... XLE Stalls as XES Breaks Down .... Watching Two Timeframes for Oil .... Shipping ETF Turns Up .... Oracle Bounces off Support ....  There are lots of small consolidations on the charts as the market digests the gains from mid August to early October. The S&P 500 SPDR (SPY) and Nasdaq 100 ETF (QQQ) continued to new highs on Wednesday, but the...  Read More

New PMO SELL Signal on Small-Cap ETFs, IJR and IWM

by Erin Heim

The short-term rally in large-cap indexes like the SPX, OEX and INDU was not contagious for the S&P 600 or Russell 2000. Below I've annotated their associated ETFs, IJR and IWM to show you the new PMO SELL signals. Although these SELL signals arrived today, a look at the charts suggests that these signals will whipsaw back to BUY signals. You'll note on both IJR and IWM that the PMOs are...  Read More

10/18 MarketWatchers LIVE Recap - Guest: Julius de Kempenaer on RRGs

by Erin Heim

  Welcome to the recap of Wednesday'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. You'll find the latest episode here. ** SPECIAL ANNOUNCEMENT ** Martin Pring will be  Read More

Commodities Countdown October 2017 Scanning Part 2

by Greg Schnell

Here is the second part of the scanning presentation. Commodities Countdown Scanning Part 2 October 2017 from StockCharts.com on Vimeo. Good trading, Greg Schnell, CMT, MFTA  Read More

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BOND YIELDS ARE JUMPING AGAIN -- THAT'S GIVING A BOOST TO FINANCIAL STOCKS

by John Murphy

TEN-YEAR TREASURY YIELDS IS RISING AGAIN... After a modest setback last week, global bond yields are rising again. Chart 1 shows the 10-Year Treasury Yield ($TNX) climbing four basis points today. The TNX appears headed for another test of its July/early October peaks formed near 2.40%. An eventual upside breakout appears likely. Bond yields are also rising around the...  Read More

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Green Shoots Are Starting To Appear For The Dollar

by Martin Pring

Special K offers a trend reversal signal Euro looks toppy Gold could be vulnerable Watch those commodities Special K offers a trend reversal signal The Dollar Index ETF, the UUP, remains below its long-term moving averages and most long-term smoothed momentum, such as the KST also continues to drop. That suggests that the bear market is alive and well.  Read More

Healthcare ETF Breaks Out Of Bullish Ascending Triangle Pattern, Leads U.S. Equities Higher

by Tom Bowley

Market Recap for Tuesday, October 17, 2017 Healthcare stocks (XLV, +1.34%) led the Dow Jones to yet another all-time high close as the Dow traded above 23000 on an intraday basis for the first time in its history, closing just beneath that psychological level at 22997.  It was really about the Dow Jones on Tuesday as the S&P 500 and NASDAQ both finished close to their...  Read More

Three Pullbacks for Three Healthcare Stocks

by Arthur Hill

Chartists should watch Gilead (GILD), Amgen (AMGN) and Merck ($MRK) because all three are forming bullish continuation patterns. First and foremost, all three hit new highs in September so it is safe to assume that the long-term trends are up. AMGN and MRK have been trending higher the last 12 months, while GILD broke out in June to reverse its downtrend.  If we assume that the long-term...  Read More

Here's A Medical Equipment Company With A Near Perfect Seasonal Track Record In October And November

by Tom Bowley

Over the past twenty years, Mettler Toledo Intl (MTD) has averaged gaining 23% per year, but that's not the most impressive performance stat for the company.  During the months of October and November, MTD has risen 85% and 95% of the time, gaining an average of 3.3% and 9.1%, respectively, during each of these calendar months.  Those aren't annualized returns, they're...  Read More

DP Alert: Is the Rally Exhausted? - PMO BUY Signal on Bonds

by Erin Heim

Teflon rally, perma-rally, overbought rally, irrational exuberance...whatever you call it, our indicators are suggesting at a least pause in the action, if not a pullback. Looking at the DP Scoreboards, we see all green arrows (buy signals) except for the IT PMO signal on the NDX. Although the NDX's weekly PMO is rising, the margin remains somewhat wide between it and its signal line as  Read More

10/16 MarketWatchers LIVE Recap - Monday Set-Ups - Trading Gaps Workshop

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. Watch the latest episode here! Information abounds...  Read More

Banks, Insurance And Apple Lift Dow Jones Near 23K

by Tom Bowley

Market Recap for Monday, October 16, 2017 In true bull market fashion, U.S. stocks rose once again in rather boring action.  The Dow Jones, S&P 500 and NASDAQ gained 0.37%, 0.18% and 0.28%, respectively, to each finish at all-time closing highs.  The record levels just keep printing amid extremely low volatity ($VIX) as stocks don't seem to have a care in the  Read More

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Finance Sector Ignores Flattening Yield Curve - A Deeper Dive into Correlation

by Arthur Hill

.... Finance Sector Ignores Flattening Yield Curve .... 2-yr Yield Hits New High .... Yield Curve is not a Problem Until .... Correlation between KRE and the 10-yr Yield .... Correlation is Not Everything  .... Back to Chart Basics  .... Play the Pullback ....  Finance Sector Ignores Flattening Yield Curve What would happen to the EW Finance ETF (RYF) and the Regional Bank SPDR...  Read More

The Wisdom of Montier

by Greg Morris

I honestly do not know when or where I first heard of James Montier but believe it was a turning point in my investing and money management.  Behavioral Finance / Investing is a relative newcomer to the world of investing, or at least the identification and writing about it.  The human frailties have always been here, we just didn't have a word to describe them.  Plus, I have  Read More

Bank of America Holds above Breakout Zone $BAC

by Arthur Hill

Bank of America (BAC) broke out of a large bullish continuation pattern three weeks' ago and this breakout is holding. Overall, BAC surged from June 2016 to February 2017 and then consolidated with a large triangle pattern. A consolidation within an uptrend is a bullish continuation pattern and the breakout around 25 signaled a continuation of this uptrend. The breakout zone around 25 turns  Read More

There's No Spooking The Bulls As Friday The 13th Results In New Record Highs

by Tom Bowley

Market Recap for Friday, October 13, 2017 There are plenty of superstitious folks out there, but apparently the majority of stock traders don't fall under that umbrella.  U.S. equities again rose on Friday with the Dow Jones, S&P 500 and NASDAQ all climbing to all-time intraday highs.  Only the NASDAQ, however, was able to finish with a record high close.   Read More

Dear Point and Figure Diary

by Bruce Fraser

Dear Point and Figure Diary, As you know, I made an entry into your pages on July 15th of this year ( click for a link). At the time, it appeared that two Reaccumulation Point and Figure Counts (PnF) were stacking up. This suggested another rally phase ahead in the Dow Jones Industrial Average ($INDU). I  Read More

10/13 MarketWatchers LIVE Recap - Upgrades/Downgrades - Earnings Spotlight - Sentiment

by Erin Heim

  Welcome to the recap of Friday'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. You can now watch the latest  episode under the "Webinars" tab! Information...  Read More

Will Seasonal Tailwinds Stem The Tide Of Selling In This Technology Company?

by Tom Bowley

Juniper Networks (JNPR) was under heavy selling pressure last week to open October, a seasonally bullish month for JNPR as the stock has averaged gaining more than 13% each October over the past two decades.  The irony here is that we've seen JNPR twice in recent years open October in the same bearish manner (black circles below) only to bounce off trendline support.  Check this...  Read More

Citrix Ends Correction with Five Week Surge

by Arthur Hill

Citrix (CTXS), which is part of the Internet ETF (FDN) and Software iShares (IGV), appears to have ended its correction and resumed its long-term uptrend. The stock hit a 52-week high in early 2017 and then declined from May to August. CTXS underperformed the market and its peers during this timeframe, but the decline was a correction within a bigger uptrend. Notice that the move retraced  Read More

DP Weekly Wrap: Parabolic Neutralized

by Carl Swenlin

Last week I identified a short-term parabolic advance, a pattern in which price advances in an ever-steepening upward curve. Typically parabolics become too steep and they collapse. In this case price moved sideways through the curve, effectively neutralizing the bearish implications of the formation. We currently have a small rising flag formed by this week's price bars, which is bullish, but  Read More

3 Investors, 3 Blind Spots, 3 Solutions

by Gatis Roze

Picture this:  I am at a cocktail party chatting with three people about investing.  The first person says, "I could be a really successful investor if only I could emotionally tolerate a bit more risk."  The second person claims, "I could be a world-class investor too if I had access to the same information as big institutional investors."  The third person believes that  Read More

Trend Analysis of the US Dollar and Guggenheim CurrencyShares ETFs

by Tushar Chande

As currency markets respond to political developments in the US and Europe, and as central banks adjust their posture, the dollar is searching for a firmer bottom.  I take a closer look at the US Dollar and currency ETFs, i.e. ETFs long a foreign currency and short the US dollar.   Chart 1: A trend-analysis of Bonds, Gold, S&P 500 and the US Dollar summarizes the current trend...  Read More

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PULLBACK IN BOND YIELDS CAUSES PROFIT-TAKING IN BANKS -- BUT KBE CHART PATTERN REMAINS POSITIVE

by John Murphy

BOND YIELDS WEAKEN... Chart 1 shows the 10-Year Treasury Yield ($TNX) pulling back today to the lowest level for the month. The TNX is backing off from a test of its July peak near 2.4% which isn't too surprising. Its 14-day RSI line (top of chart) had also reached overbought territory at 70. During September, the TNX rose above a falling trendline drawn over its...  Read More

Sectors Mixed, But That Doesn't Slow Down U.S. Equities

by Tom Bowley

Market Recap for Thursday, October 12, 2017 It was certainly a bifurcated day among sectors.  Four sectors advanced, including industrials (XLI, +0.53%) and utilities (XLU, +0.52%), while five declined.  Financials (XLF, -0.76%) were hardest hit as the 10 year treasury yield ($TNX) has struggled to gain any ground since testing 2.40% yield resistance one week ago...  Read More

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Weekly Market Review & Outlook (with Video) - Consumer Discretionary Weighs on Market

by Arthur Hill

.... Consumer Discretionary Weighs on Market  .... SPY and QQQ Hit Fresh New Highs .... IJR Edges Lower after Big Run .... A Hat Trick in the Technology Sector .... Industrials Pick up the Slack .... Materials Sector Leads with More New Highs .... Finance Sector Stalls Near New High .... Bullish Continuation Patterns Form in Energy  .... XLU and RYU Break Flag Lines .... Consumer...  Read More

Put/Call Ratios At Simultaneous Lows - Bearish for the Market

by Erin Heim

A MarketWatchers LIVE viewer emailed me today and suggested I revisit the Put/Call Ratio chart. Upon recommendation, I did just that and was glad that he pointed it out to me so that I could point it out to you. I'll be talking about it in more detail during tomorrow's MarketWatchers LIVE show, so be sure to join Tom and I at 12:00p - 1:30p EST or...  Read More

Commodities Countdown Recording - Scanning Part 1 October 2017

by Greg Schnell

Here is the Commodities Countdown article on scanning, Part 1. In this two part posting, I detail a lot of the tips and tricks to make scanning and alerts better. Commodities Countdown 2017 October Scanning Part 1 from StockCharts.com on Vimeo. Good trading, Greg Schnell,  Read More

RRG suggests sector rotation out of Real Estate (XLRE) into Industrials (XLI)

by Julius de Kempenaer

The Relative Rotation Graph for US sectors shows seven sectors clustered around the benchmark in the middle of the graph (SPY) and three of them further away. XLE is more or less detached from the rest of the universe while XLP and XLY are breaking away together and heading deeper into the lagging quadrant. Within the cluster of sectors closer to the center of the chart, Real...  Read More

Bullish Momentum Building Again On AMD

by Tom Bowley

Advanced Micro Devices (AMD) spent over a year with its SCTR among the highest of all individual stocks.  It was an impressive rally for sure as its stock price rose from below $2 to above $15 in 13 months.  But even the hottest stocks need to evenually consolidate to unwind perpetually overbought conditions.  AMD has been doing that, frustrating thousands of traders.  I  Read More

Broadline Retailers Move To Two Month High To Lead Major Indices

by Tom Bowley

Market Recap for Wednesday, October 11, 2017 A strange pair - utilities (XLU, +0.43%) and technology (XLK, +0.33%) - combined to lead our major indices higher on Wednesday with the NASDAQ rising 0.25% to close at another all-time high.  Seven of the nine sectors ended the day in positive territory as only financials (XLF, -0.19%) and industrials (XLI, -0.06%) were down...  Read More

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Microsoft and Alphabet Lead the Fab Five - Four Stock Setups - Bitcoin Index Hits New High

by Arthur Hill

.... Microsoft Leads Fab Five with New High .... Alphabet Breaks Triangle Line .... Apple Reverses after Oversold Reading  .... Amazon Breaks Wedge Line .... Avago Pattern Evolves into Ascending Triangle .... Cornerstone OnDemand Forms Double Bottom .... Universal Display Firms at Support and Zoetis Turns Up .... Understanding Cryptos and Blockchain  .... Bitcoin Index Hits New High...  Read More

Gold Narrowly Avoids IT Trend Model Neutral but Not Out of the Woods

by Erin Heim

Carl and I have been watching the Gold chart carefully for a likely Intermediate-Term Trend Model (ITTM) Neutral Signal. However, with the rally of the last two days, both the 20-EMA and 50-EMA have slowed their descent. A negative 20/50-EMA crossover will trigger that ITTM Neutral signal. Why not a SELL signal? If the 50-EMA is still above the 200-EMA, we're looking at a LT bullish trend and  Read More

10/11 MarketWatchers LIVE Recap - Guest Arthur Hill - Ten in Ten to One

by Erin Heim

  Welcome to the recap of Wednesday'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. You'll find the latest episode here. Information abounds in our Monday/Wednesday/Friday 12:00p -  Read More

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GOLD LOSES SAFE HAVEN APPEAL AS STOCKS HIT NEW RECORDS -- GOLD MINERS ARE LEADING BULLION LOWER

by John Murphy

GOLD SPDR FAILS TEST OF RESISTANCE LINE... A month ago it looked like gold might be on the verge of a bullish breakout. It didn't happen. My September 7 message showed gold nearing a test of a major "neckline" extending back three years. The weekly bars in Chart 1 show the Gold SPDR (GLD) having failed a test of that major resistance line (see arrow). North Korean...  Read More

Comcast Fails at a Key Moving Average

by Arthur Hill

A recent double top and failure at the 200-day SMA point to lower prices for Comcast (CMCSA). The double top formed from May to early September with two highs around 42 and a low around 38. Comcast broke this low with a sharp decline and then became oversold. The stock bounced back to the break zone and the 200-day SMA in in the second half of September, but turned lower the last four days and...  Read More

Late Day Buying Sends Dow Jones Into The Record Books Again

by Tom Bowley

Market Recap for Tuesday, October 10, 2017 The Dow Jones finished 69 points higher on Tuesday to close at yet another all-time high.  It's an illustration of how equities can remain overbought for an extended period of time.  The Dow Jones moved into overbought territory (RSI 70+) 7-8 days ago, yet we've seen the Dow push higher nearly every day, rising 400 additional...  Read More

DP Alert: Market Rally Pop, No Follow-Through

by Erin Heim

No changes to the DP Scoreboards today, but you can see that every signal is a BUY signal except the IT PMO signal on the NDX. Check out my ChartWatchers article to learn more about why that is the case. Ultra-short-term indicators had pointed to a possible  Read More