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STOCKS ARE ENDING WEEK AND QUARTER ON A FIRM NOTE -- ALL THREE MAJOR STOCK INDEXES HAVE KEPT THEIR 2019 UPTRENDS INTACT

by John Murphy

MAJOR STOCK INDEXES MAINTAIN THEIR 2019 UPTRENDS Major U.S. stock indexes appear on track to end the week and quarter with their 2019 uptrends intact. Chart 1 shows the Dow Industrials in a sideways trading pattern over the last month. This week's pullback bounced off its (blue) 50-day average. And it appears to be regaining its (green) 20-day line today. It still  Read More

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Weekly Market Review & Outlook - It is What it Is

by Arthur Hill

S&P 500 Stalls within Uptrend. Upswing Dominates Weekly SPX Chart. Index Breadth Table Remains Bullish. IJR: Failure at 200-day or Mere Correction? Sector Table - Staples Get a Lift. XLI Hits Make-or-break Zone. UTX Consolidates around the 200-day. MMM Consolidates above 200-day. Palladium Takes a Tumble. ChartList Updates. About the Art's Charts ChartList.   S&P  Read More

Strong Earnings Lift Clothing Stocks

by Tom Bowley

Market Recap for Thursday, March 28, 2019 Lululemon Athletica (LULU, +14.13%), PVH Corp (PVH, +14.76%), and Movado Group (MOV, +22.77%) all surged after the clothing & accessories retailers all posted much better than expected quarterly earnings.  The Dow Jones U.S. Clothing & Accessories Index ($DJUSCF, +5.10%) stormed higher and closed at its highest level since early November  Read More

Home Construction Is Loving This Treasury Yield Decline

by Tom Bowley

Market Recap for Wednesday, March 27, 2019 Wall Street rebounded from steep intraday losses, but still ended the session in negative territory.  The NASDAQ was the weakest index, falling 0.63%.  The S&P 500, Russell 2000 and Dow Jones dropped 0.46%, 0.39%, and 0.13%, respectively.  Industrials (XLI, +0.11%) was the lone sector to finish with a gain.  Airlines ($DJUSAR  Read More

Triple whammy for UNH suggests more weakness ahead!

by Julius de Kempenaer

The weekly chart for UnitedHealth (UNH) shows a steady uptrend in both price and relative (vs $INDU) since the start of 2016. That three-year move just came to an end. The uptrend in relative strength emerged out of the low that was set in late 2015. Since then, UNH is showing a steady series of higher highs and higher lows in relative strength against the DJ Industrials index. The  Read More

Diversification Can Actually Make Your Portfolio Rise During Crashes

by Brian Livingston

Using multiple types of assets in a portfolio isn't just a theory. It works in the real world to cut your losses and increase your gains. • Only in the past few years have all of the major global asset classes achieved representation by low-cost exchange-traded funds. This presents a way for individual investors to diversify their portfolios for greater profits such as never before  Read More

DP Alert: Short-Term Shake Up on Scoreboards - Bearish Wedge Nearly Executes

by Erin Swenlin

The OEX and Dow lost short-term BUY signals on Monday and the NDX followed today, having switched out of a ST PMO BUY signal. I thought it was time to do a review of the Scoreboard indexes, so their charts are below. Additionally, you'll find my regular mid-week review of the SPX, indicators and "Big Four." The Dow appears to have a double-top forming; it will become official should  Read More

3/27 MWL Recap: Doug Busch of ChartSmarter.com "Four Market Themes" - Turning Point

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

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DROP IN BOND YIELDS HERE AND IN GERMANY WEIGH ON STOCKS -- MAJOR STOCK INDEXES MAY RETEST THEIR 200-DAY AVERAGES

by John Murphy

TREASURY YIELDS FOLLOW BUNDS LOWER German 10-year bunds were sold below zero at today's auction which is keeping downside pressure on Treasury yields. The daily bars in Chart 1 show the 10-Year Treasury yield falling today to the lowest level since the end of 2017. That's pushing bond prices higher and putting downside pressure on stock prices. Fed fund futures are  Read More

Crude Oil, Energy Lead Wall Street Higher

by Tom Bowley

Market Recap for Tuesday, March 26, 2019 Strength in global markets seemed to influence the U.S. market at the open as equities surged higher.  But sellers dominated most of the balance of the day as gains evaporated.  A final 30 minute surge just before the close restored some of the earlier gains and all of our major indices finished in positive territory, led by the Russell 2000's  Read More

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Bull, Bear or Neither? - Plus ChartList Update

by Arthur Hill

S&P 500 Holds as Russell Rolls Over. Plenty of New Highs in $SPX. ChartList Updates - 3 Additions. Are we in a bull market, a bear market or neither? At this point, the evidence is still more bullish than bearish, but there are clearly some pockets of weakness within the stock market. As  Read More

3/26 MWL Recap: Reverse Divergences Workshop - Under the Radar

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

Gold Miners Are Shining

by Greg Schnell

Gold miners have really started to shine of late. The SCTR ranking of GDX, which represents the gold miners as an ETF, pushed up a couple of months ago. After surging to new 52-week highs in February, the gold miners quickly pulled back. This week, they look set up to really push to higher highs. The relative strength is breaking a 3-month downtrend after having startied a fresh surge in  Read More

What Asset Can You Add to Stocks for the Greatest Gain?

by Brian Livingston

Diversification works well in sample cases, but how about in actual trading? In this article, we'll combine two assets you can actually buy and sell. • When you add to an all-stock portfolio an asset that has a low or negative correlation to stocks, the result is a more diversified portfolio that can subject you to smaller losses with the possibility of larger returns. Figure  Read More

Derivative Expiry: Options Data Point Towards This Level Being An Inflection Point For The Markets

by Milan Vaishnav

The NIFTY50 ($NIFTY) saw an unexpected surge in trading on Tuesday, ultimately ending the session with decent gains. The expiry of the current derivative series is to come up on Thursday, March 28; the Options data on NIFTY throws up some useful insights. Let's examine the 10 ATM Options for NIFTY, which expires Thursday, March 28, 2019. The picture above shows highest Call OI built  Read More

Seasonality And Price Support Suggest TSLA Is A Buy

by Tom Bowley

Market Recap for Monday, March 25, 2019 U.S. stocks finished in bifurcated fashion on Monday as the S&P 500 and NASDAQ lost 0.08% and 0.07%, respectively, while the Dow Jones tacked on 0.06%.  The small cap Russell 2000 was a relative outperformer, gaining 0.46% on the session.  All of our major indices were struggling and in negative territory with 90 minutes left in the trading  Read More

3/25 MWL Recap: Monday Setups - Earnings Spotlight - Sentiment Update

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

TJX Bucks the Selling Pressure

by Arthur Hill

TJX Companies (TJX) is part of the S&P 500 and the Consumer Discretionary SPDR (XLY). It is also part of two growth ETFs (PWB and PXLG). Even though TJX is part of an economically sensitive sector, I would put them in a different category because they are known as an "off price" retailer for apparel and home furnishings. The stock sports a strong chart and is trading at its high of the year  Read More

The VIX And S&P 500 Positive Correlation Predicted Friday's Drop

by Tom Bowley

Market Recap for Friday, March 22, 2019 Investors were worried on Friday and it was reflected in the Volatility Index ($VIX), which rose more than 20%, and sharply lower U.S. equity prices.  The small cap Russell 2000 was hit hardest, dropping 3.62%.  The weakness, however, was felt just about everywhere.  The NASDAQ, S&P 500 and Dow Jones fell 2.50%, 1.90%, and 1.77%  Read More

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RSI Bear Ranges for S&P 500 and Russell 2000 - ChartList Update

by Arthur Hill

RSI Holds Bear Range for S&P 500 A Classical Reversal Area for Russell 2000 Small-cap Breadth Indicators Flip Selling Pressure in Key Groups ChartList Updates RSI Holds Bear Range for S&P 500 The S&P 500 remains above its slightly rising 40-week SMA, but this key benchmark has gone nowhere since January 2018 (60 weeks). $SPX is trading near its January 2018 high  Read More

Is This The Final High? And Was The Top In 2018?

by Greg Schnell

Much has been made of the 10-year yield dropping below the 3-month yield. In this week's case, it was particularly acute. The equity market (stocks) plummeted as the yields fell hard. US banks dropped significantly. When the scale of interest rates loses its normal "sort order" of longer term (10-year or 30-year) rates having higher yields than shorter term  Read More

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US Stocks Looking Vulnerable Again

by Martin Pring

Long-Term Picture Remains Finely Balanced Short-Term Indicators Still Showing Weakness Confidence is Starting to Erode Again Financials Break Down from a Broadening Wedge Earlier in the month, I wrote about the Ides of March and the fact that the market looked overstretched, apparently in need of some mean reversal corrective activity. The market immediately thumbed its nose at my  Read More

Europe vs The USA... And The Winner Is ....

by Julius de Kempenaer

I like to keep an eye on what's going on in the world around us. That means also monitoring what's happening in markets that are maybe not directly of interest when it comes to trading or investing. For stock markets around the world I like to use the pre-defined group "International Stockmarket Indexes" on the RRG page. The resulting Relative Rotation Graph populated with this group is shown  Read More

Has A Big Bear Market Rally Just Finished ? 2019-03-23 Weekly Market Roundup

by Greg Schnell

World Charts Look Risky Outside Bars Suggest Reversal Commodities Under Fire Timing on the Copper and Steel charts is Unnerving Energy-related ETFs and Stocks have Huge Caution Signs Watching to see if Gold is the Next Bullish Move (expecting a huge move) Continuing with my theme of trouble out there, banks, industrials, brokers and energy all had another tough week. The video this week  Read More

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PLUNGE IN GLOBAL BOND YIELDS AND INVERTED YIELD CURVE PUSHES BOND PRICES HIGHER AND STOCKS LOWER -- FALLING BOND YIELDS REWARD UTILITIES WHILE HURTING BANKS

by John Murphy

PLUNGE IN BOND YIELDS CAUSES YIELD CURVE TO INVERT Weak economic numbers from the eurozone and the U.S. on Friday pushed bond yields here and in Europe sharply lower and caused heavy profit-taking in global stocks. The 1 0-Year German bond yield fell into negative territory (below zero) for the first time since 2016, while the 10-Year Treasury  Read More

DP WEEKLY WRAP: Fakeout Breakout; Bond Blastoff

by Carl Swenlin

Last week certain indicators had me looking for a short-term market top, and on Wednesday it looked as if it had arrived. But no. On Thursday the market moved to new rally highs on volume that wasn't too little or too much, so I thought that looked like a pretty solid breakout. But no -- it was a fakeout. Friday saw a level of selling that we haven't seen for some time, and price retested  Read More

Week Ahead: Upsides May Remain Limited; Corrective Moves Likely From Higher Levels

by Milan Vaishnav

Following an unabated up move over the last several days, the markets finally took a breather on the last trading day of the week. After the session on Friday, the NIFTY has displayed visible signs of consolidation creeping in to the markets, which had become steeply overbought on the daily charts. As the week ended, it also highlighted the major resistance area for the markets on the weekly  Read More

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Weekly Market Review & Outlook - Crosscurrents, Undercurrents and Weight of the Evidence

by Arthur Hill

Bigger Downtrends or Simply Resting? Bank ETFs Fail at 200-day SMAs. Small-cap Indexes Fail near Retracements. Oil Nears Potential Reversal Zone. Focus on the True Leaders. S&P 500 Maintains Uptrend. Index Breadth Table Remains Bullish. Sector Breadth Table is More Mixed. Staples, Utilities, REITs and Tech. Bonds Extend on Breakout. Disney Removed from ChartList. Short Russell 2000 ETF  Read More

Apple Leads Big Technology Rally

by Tom Bowley

Market Recap for Thursday, March 21, 2019 Technology stocks (XLK, +2.51%) carried Wall Street higher on Thursday as computer hardware ($DJUSCR, +3.56%), semiconductors ($DJUSSC, +3.13%), and software ($DJUSSW, +2.20%) all surged to fresh 2019 highs.  Apple, Inc. (AAPL, +3.68%), which has regained its title of largest market cap company in the world, was a major contributor to the computer  Read More

The Bond Market Is Sending Us The Most Bearish Signal

by Tom Bowley

Market Recap for Wednesday, March 20, 2019 Yesterday was all about the Fed and what it might say.  It was essentially a foregone conclusion that there'd be no rate hike, so traders were on edge anticipating what might change in the Fed's policy statement.  Stock traders seem to have a love affair with the notion of cheap money.  The Fed has definitely become much more dovish  Read More

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March Turns Rough for Small and Mid Caps

by Arthur Hill

The Russell 2000 iShares (IWM) is not only lagging the S&P 500 SPDR (SPY) and the Nasdaq 100 ETF (QQQ) in March, but it is also under selling pressure and down month-to-date. Typically, I am not concerned with relative weakness in small-caps when they are simple up less than large-caps. However, we are seeing absolute weakness in small and mid caps, and a large performance discrepancy the  Read More

Energy Stands Out on Relative Rotation Graph For Indian Sectors

by Julius de Kempenaer

The list of pre-defined groups in the RRG-menu has been expanded with the universe covering Indian sectors against the Nifty 500 index as the benchmark. Very recently also the universe of individual stocks making up the Sensex 30 index was added. With the Nifty 50 group already on the list, we now have three universes covering the Indian market. The Relative Rotation Graph above shows the  Read More

Given Two Lemons, You Can Make a Profitable Lemonade Stand

by Brian Livingston

Diversification works in mysterious ways. But does that mean diversifying a portfolio is a hard thing to do? No! It's actually quite simple. • The problem is that it's not obvious exactly HOW diversification improves a portfolio's return. It's not rocket science. It's simple math. But many people have never learned the ways diversification can turn a pig's ear into a profitable silk purse. •  Read More

DP Alert: SPX Momentum Failure - Negative Divergence on ST Indicators - Broken Dollar

by Erin Swenlin

The Price Momentum Oscillator (PMO) has topped underneath the signal line, something I consider especially bearish in the short term. Our short-term indicators have presented another "attention flag" divergence, which could be pointing to a more lasting decline. Today, the Dollar broke down dramatically on the heels of a PMO SELL signal. The DecisionPoint Scoreboards below show us  Read More

3/20 MWL Recap: Guest David Keller's Morning Coffee Routine - Momentum Sleepers

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

Trucks. Trains. Airplanes.

by Bruce Fraser

The Dow Jones Transportation Average, since its creation, has been considered a sensitive leading indicator of business conditions. The legendary 'Dow Theory' was created as a trend confirmation indicator of the Industrial Average to the Transportation Average. When they are both in-gear, upward or downward, the major trend is confirmed. To read more about the Dow Theory  Read More

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Trading the Pattern within the Pattern

by Arthur Hill

There are often smaller patterns within larger patterns and traders can get a jump on a bigger breakout by acting on the smaller pattern first. For example, a cup-with-handle is a bullish continuation pattern that typically forms over a few months. A falling flag is also a bullish continuation pattern, but it typically forms over a few weeks (short-term). I picked these two patterns for a  Read More

U.S. Dollar Index Drops For 8th Straight Day, Awaiting Fed

by Tom Bowley

Market Recap for Tuesday, March 19, 2019 The U.S. stock market finished the day in bifurcated fashion as the NASDAQ (+0.12%) clung to a relatively minor gain, while the aggressive small cap Russell 2000 index lost 0.57%.  The Dow Jones and S&P 500 barely finished in negative territory, dropping 0.10% and 0.01%, respectively.  Four of our eleven sectors finished above the flat line  Read More

Third Time Lucky for Advance Auto Parts?

by Arthur Hill

Advance Auto Parts (AAP) hit a new high in November and then moved into a corrective phase. Keep in mind that a correction can involve a decline or a consolidation, or even a combination of the two. AAP fell back towards the rising 200-day SMA in December and then stalled the last few months. Overall, this looks like a big correction with an even bigger uptrend. There are signs that this  Read More

3/19 MWL Recap: Analyzing Average True Range - Sector Rotation

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More