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Triple Top Breakout for QQQQ

by Arthur Hill

A run through the PnF scans reveals a triple top breakout for QQQQ on Wednesday. This means prices pushed the current "x" above the prior two highs (green arrow). Despite this breakout, QQQQ is trading right at potential resistance from the bearish resistance line. Read More 

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Biotech Holders (BBH) Trying to Breakout Again

by Chip Anderson

Click here for a live version of this chart. The Biotech ETF has had a devil of a time getting above 92 this year.  Right now it is trying again.  The low volume numbers don't bode well but remember that ETF volume data can be tricky to interpret.  A close above 92 would do wonders for this chart.  Time will tell - as always. Read More 

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Defensive Sectors Turn Green

by Arthur Hill

The healthcare, utilities and consumer staples sectors are traditionally the defensive sectors that underperform during a broad market advance. This was the case in March and most of April. With Monday's weakness, the defensive sectors held up and all three finished with small gains. It is just one day, but worth watching in the near future. Read More 

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New High for AD Line

by Arthur Hill

The NYSE AD Line moved above its January high to record a new high for 2009. In contrast, the NY Composite Index remains below its January high. This show of relative strength in the AD Line reflects broad participation in the current advance and bodes well for the current uptrend. Read More 

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Super Surge for Super Valu

by Arthur Hill

Super Value (SVU) surged above its 50-day moving average and wedge resistance with a big move on big volume. The 200-day moving average is just ahead for the next challenge. Read More 

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Air Products Surges on Big Volume

by Arthur Hill

Air Products (APD) is part of the chemicals group and the basic materials sectors. After surging to resistance in March, the stock consolidated around the 60 the last few weeks. The bulls came out in force as the stock surged to its highest level of the year with big volume on Wednesday. Could that consolidation be giving way to another leg higher? Read More 

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AETNA Breaks Wedge Trendline

by Arthur Hill

Aetna (AET) retraced 62% of the Feb-Mar decline with a rising wedge that peaked in mid April. Both the wedge and the retracement are typical for corrective rallies within bigger downtrends. Also notice that the 200-day moving average is falling and the 50-day moving average is below the 200-day moving average. Tuesday's trendline break looks quite ominous. Read More 

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RTH Hits Resistance

by Arthur Hill

The Retail HOLDRs (RTH) hit massive resistance around 78-80 for the third time since October. Resistance in this area stems from the October, January and April highs. In addition, the falling 200-day moving average is coming into play. After a run from 60 to 80, RTH is ripe for a correction that could retrace 50% of the prior advance. This would target a decline to around 70. Read More 

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Wal-Mart Shows Relative Weakness

by Arthur Hill

Wal-Mart (WMT), which is the biggest component in RTH, is leading the way lower with a break below its 50-day moving average on Monday. Notice that WMT peaked at the 200-day moving average on 2-April and did not follow the broader market higher over the last two weeks. The king of retail is showing relative weakness. Read More 

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PPD Finally Breaks Out

by Chip Anderson

Click here for a live version of this chart. We discussed PPD and its long struggle with the 50-day MA in a previous post.  Looks like things have finally changed!  Should be fun to watch during the next couple of days. Read More 

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Quadrupal Top Breakout Now Faltering (CPSI)

by Chip Anderson

Click here for a live version of this chart CPSI has had a pretty impressive P&F chart for a while now.  On March 16th, it completed a Quadrupal Top Breakout pattern that is, technically, still in place today.  The problem is that CPSI is dangerously close to reversing right now with the potential to fall back below that huge support/resistance level at 29-30. The key for this chart is to see if CPSI can remain above 33.0 (see the red number of the _left_ side of the Read More 

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Ticker Cloud leads to SDS Head and Shoulders

by Chip Anderson

Click here for a live version of this chart SDS is the ProShares Ultra Short S&P 500 ETF.  It's a way to invest (gamble really) that the market is going to fall.  It showed up today on our Ticker Cloud page as one of today's most popular charts.  A close look at the chart shows why. Prior to September of last year, SDS was in a pretty nice uptrend (something that's bad for the overall market obviously).  Then, as we know, the markets went nuts and so did SDS.  Since January however, the markets have gotten better organized with fewer huge jumps - Read More 

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Getting Beat Down Legally (PPD)

by Chip Anderson

Click here for a live version of this chart Help!  Police!  Pre-Paid Legal Services (PPD) is getting beat down by its 50-day Moving Average! Again! This is the third time this year that PPD has failed to penetrate the 50-day MA (blue line).  Things were looking promising too - this stock showed up on a Bullish MACD scan yesterday (see the MACD Histogram going positive?) after a strong up day with good volume.  Still, this chart deserves to be watched closely as increased volume may lead (eventually) to a strong upside breakout. Read More 

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Intraday Up/Down Volume Sentiment Chart

by Chip Anderson

Click here for a live version of this chart. "Wow.  That doesn't look like any financial chart I've ever seen before." I agree, that is one strange looking chart.  What the green area shows is the total amount of "Up" volume - i.e. the total volume of all stock that are currently higher than their previous close - the "Advancers' volume."  Similarly, the red area shows the "Decliners' volume."  Both numbers reset to zero at the start of each day which is why they usually make the kind of triangular shape you see Read More