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Technology sector sees red

by Arthur Hill

Within the S&P Sector Carpet, the technology sector showed a lot of red on Thursday. From the Sector Carpet, click on the technology heading to focus on this sector. Even though most stocks were down, there were still a few gainers with Citrix and BMC Software gaining more than 1%. Click this chart for details Read More 

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Most actives reflect bounce in finance sector

by Arthur Hill

From the Free Charts page, users can access a quick list of the 10 most active stocks for the Nasdaq and NYSE. As Wednesday’s lists show, the finance sector was strong on Wednesday. Four of the ten most active were from the finance sector and these four were up over 1%. Click the CandleGlance links at the bottom to see short-term charts for all ten stocks. Click this image for details Read More 

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JP Morgan breaks support

by Arthur Hill

JP Morgan is leading the market and the finance sector lower with a break below its September-December lows. The stock first established support in the 40-41 zone in mid August and held this zone in September, October, November and December. January is proving different with a clear break on expanding volume. Click this chart for details Read More 

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CHRW forms big triangle

by Arthur Hill

CH Robinson (CHRW), a trucking company, formed a big triangle consolidation over the last nine months. The stock has recently been consolidating near triangle support and a break below 56 would be bearish. Click this chart for details Read More 

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XHB hits resistance

by Arthur Hill

The Homebuilders SPDR (XHB) finished 2009 strong, but ran into resistance from its summer highs in 2010. The ETF first hit resistance around 16 in late July and traded in the 14-16 are the last 6-7 months. The stock has long-term support at 13.5 and a break below this level would be negative. Click this chart for details Read More 

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Steel stocks hit hard

by Arthur Hill

The s ector carpet over the last four days shows lots of red. Within the S&P 500, three of the five biggest losses came from steel stocks (US Steel, Cleveland Cliffs and AK Steel). There were, however, a few gainer that can be spotted with the green squares. Intuitive Surgical gained over 8%, Comerica gained over 6% and Key Corp advanced over 6%. Click this chart for details Read More 

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All 30 Dow Stocks Down

by Arthur Hill

The CandleGlance page for the Dow shows all 30 stocks trading in negative territory early Thursday. These mini-candlestick charts provide an quick means to see current action and candlestick setups. From the four charts below, we can see sharp declines in Alcoa, American Express, Bank of America and Caterpillar. Click here for the current CandleGlance charts. Click this chart for details Read More 

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UNH becomes overbought

by Arthur Hill

United Health (UNH) remains in a clear, and strong, uptrend, but the advance could be getting frothy as RSI becomes overbought and red candlestick takes shape on Wednesday. Notice that RSI moved above 70 for the second time in two months (blue arrows). Tuesday’s gap is holding for now. A move below the gap would make this an exhaustion gap. Click this chart for details Read More 

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LEAP forms bullish engulfing

by Arthur Hill

Direct from the StockScans candlestick page, Leap Wireless (LEAP) formed a bullish engulfing on big volume Friday. A bullish engulfing forms with a filled black or red candlestick and longer white candlestick. The white candlestick's open is below the prior close, but the stock rallies to close above the prior open. High volume reinforces the pattern. Click this chart for details Read More 

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GLD and TIP move step-for-step

by Arthur Hill

The Gold ETF (GLD) and the Inflation-Protected Bond ETF (TIP) show a positive correlation over the last few months. Both advanced from August to November, fell in December and bounced in January. Looks like gold is following the inflation outlook. Click this chart for details Read More 

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XLV hits another new high

by Arthur Hill

Money continues to flow into the healthcare sector as the Healthcare SPDR (XLV) recorded another 52-week high this week. XLV bounced off support in early November and surged over 12% in the last 12 weeks. Even though the advance is getting overextended, there are currently no signs of weakness in this market leader. Click this chart for details Read More 

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XLK gets off to rough start

by Arthur Hill

2010 has not been nice to the technology sector. The PerfChart below extends from January 4th until January 12th. Of the nine sectors SPDRs, and the S&P 500, the Technology SPDR (XLK) is down the most (over 2%). The Industrials SPDR (XLI) and Financials SPDR (XLF) are off to the best starts. Click this chart for details Read More 

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Dow Transports hit new 52-week high

by Arthur Hill

After breaking resistance in December, the Dow Transports consolidated a few weeks and then broke to a new 52-week high this week. Volume has also been strong since early December as many up days occurred with above average volume. And finally, broken resistance turned into support around 4090-4000. Click this chart for details Read More 

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XLB hits 62% retracement

by Arthur Hill

With a huge advance since March 2009, the Materials SPDR (XLB) has retraced 62% of the prior decline, which extended from May 2008 to March 2009. There is also potential resistance from broken supports around 34-36. Click this chart for details Read More 

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QQQQ holds Ichimoku support

by Arthur Hill

The strength of the current rally can be seen with QQQQ and the Ichimoku cloud indicator, which marks a support zone. Notice how QQQQ bounced near the top of the cloud in July and in the middle of the cloud in early November. Cloud support is currently in the 42.5-43 area.    Click this chart for details Read More 

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DELL enters gap zone

by Arthur Hill

With a pretty nice advance the last 4-5 weeks, DELL returned to the gap zone and retraced 62% of its prior decline. Resistance in this area is becoming apparent with four red candlesticks over the last eight days. Click this chart for details Read More 

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BOOM breaks resistance with volume

by Arthur Hill

Dynamic Materials (BOOM) broke through resistance with a high volume surge over the last three days. In addition, the pattern from October to December looks like an inverse head-and-shoulders with neckline resistance around 21. Read More 

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Semis lead industry groups

by Arthur Hill

The Perfchart below shows eight industry groups over the last five weeks (25 trading days). Semis ($SOX) are by far the strongest group. Gold & Silver ($XAU) represent the weakest group. It is also notable that Banks ($BKS) are lagging the other advancing groups. Click this chart for details Read More 

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Cold weather lifts Gaz

by Arthur Hill

The iPath Natural Gas ETF ($GAZ) surged over 4% after a cold front slammed the Northeast. On the chart below, notice that GAZ broke resistance in mid December and broken resistance then turned into support. Read More