Don't Ignore This Chart

Building Materials, Industrial Suppliers and Construction Lead after Sandy

by Arthur Hill

A look at the Dow Jones industry groups shows strength coming from the DJ US Building and Fixtures Index ($DJUSBD), the DJ US Industrial Suppliers Index ($DJUSDS) and the DJ US Heavy Construction Index ($DJUSHV). These three groups, which are in the industrials sector, are likely benefitting from the rebuilding required after Hurricane Sandy. Users can click on the names to see the individual stocks within these groups.   Read More 

Don't Ignore This Chart

Bombardier Triangulates with Expanding Volume

by Arthur Hill

Bombardier (BBD/B.TO) got a big surge in early September and then formed an extended triangle the last six weeks. Upside volume within the triangle is picking up as OBV moves higher in the indicator window. A triangle breakout would signal a continuation of the September surge.   Read More 

Don't Ignore This Chart

TELUS Corp Makes a Breakout Bid

by Arthur Hill

TELUS Corp (T.TO) is showing signs of price strength with a channel breakout in late September and a surge over the last four days. This four day surge reinforces support in the 61-62 area. TELUS is on the verge of a breakout, but volume has been weak and has yet to confirm strength on the price chart. Read More 

Don't Ignore This Chart

Three Bearish Engulfings Mark Resistance for ITB

by Arthur Hill

The uptrend in the Home Construction iShares (ITB) is stalling as three bearish engulfing patterns formed in the 26 area. ITB was poised to break resistance with a surge on Thursday, but failed to hold its gains and continued lower on Friday. The Sep-Oct lows mark key support. Read More 

Don't Ignore This Chart

Nordstrom Tests Support as CCI Plunges

by Arthur Hill

Nordstrom (JWN) surged last week, but gave back these gains with a sharp decline the last six days. JWN is now testing support from the late September low. Momentum abruptly shifted as well. Notice that CCI plunged below -100 and this may signal that a new downtrend is emerging for JWN. Read More 

Don't Ignore This Chart

Nasdaq Tests 200-day Moving Average

by Arthur Hill

With a sharp decline the last five weeks, the Nasdaq is poised to test its rising 200-day moving average. The red line is the 200-day and this key average was last tested in early June. Note that the index is underperforming the S&P 500 as the price relative moved below its early August low. Read More 

Don't Ignore This Chart

Transports Buck the Selling Pressure with Gain

by Arthur Hill

The image below comes from a Major Indices Market Carpet. The Dow Industrials is getting hit hard, but the Dow Transports is holding up rather well thanks for strength in UPS. The Nasdaq 100 ($NDX) is also holding up rather well with gains coming from Yahoo and Virgin Media. Read More 

Don't Ignore This Chart

A Bearish MACD Crossover for OpenTable

by Arthur Hill

OpenTable (OPEN) shows signs of rolling over as a lower high takes shape and MACD moves below its signal line. Notice that OPEN hit resistance near the 61.80% retracement just above 46. MACD is barely in positive territory and this downturn puts it on the trajectory to turn negative. Read More 

Don't Ignore This Chart

The License Number of the Google Truck

by Chip Anderson

Here's a huge PRO-level chart of the 1-minute price action for Google today: (Be sure to click it once or twice in order to see it at its full size.  PRO members can click here to see a live version.) Check out the two tiny test trades that got recorded between 1:30 and 1:45.  Not sure what those were about.  Also, a moment of silence please for the brave traders that bought GOOG during the 12:32 minute - probably before learning what had happened. Read More 

Don't Ignore This Chart

Big Red Boxes Fill the Market-Cap Sector Carpet

by Arthur Hill

Now wonder the Technology SPDR (XLK) is getting slammed. The image below shows the technology sector in market capitalization mode on the Sector Carpet. Three of the biggest boxes are red. Google (1) is down the most, Apple (2) is down almost 2% and IBM (3) is down almost 3%. Weakness in these mega-caps is weighing on market-cap-weighted indices like the S&P 500 and Nasdaq 100. Read More 

Don't Ignore This Chart

SCTR Surges for First Solar and Dean Foods

by Arthur Hill

Chartists can use the StockCharts Technical Rank (SCTR) table on an intraday basis to find stocks making big moves. A sort of the “change” column shows First Solar and Dean Foods improving the most in early trading. Also notice that four financial stocks and three technology stocks are in the top ten.   Click this image for see a live table Read More 

Don't Ignore This Chart

Sector Carpet Shows All Materials Stocks Gaining

by Arthur Hill

The Sector Market Carpet is a great way to find market leaders. Today, the Basic Materials SPDR (XLB) is the strongest sector with the average stock up around 1.9%. Drilling down into the sector shows all 30 components moving higher. Alcoa (AA) has the smallest gain (.91%) and Cliffs (CLF) has the largest gain (5.44%). Read More 

Don't Ignore This Chart

Spanish IBEX Hits Resistance in the Middle of Triangle

by Arthur Hill

The Spain Bolsa de Madrid IBEX 35 Index ($IBEX) surged from mid July to mid September and turned back the last three weeks. Despite a 30% bounce off the lows, the index is still in a bigger downtrend and resistance is nigh. The center of the prior triangle marks a big congestion level that should signal resistance.   Read More 

Don't Ignore This Chart

December Corn Makes a Break For It

by Arthur Hill

Corn surged during the summer drought news and then corrected as summer drew to a close. This correction appears to be ending as December Corn ($CZ12) broke channel resistance and the Percent Price Oscillator (PPO) turned up. This week’s low now marks key support at 725. Read More 

Don't Ignore This Chart

Sector PerfChart Shows Why the S&P 500 is so Mixed Up

by Arthur Hill

The Sector PerfChart shows the Finance SPDR (XLF) leading the S&P 500 since September and the Technology SPDR (XLK) lagging the S&P 500. These two sectors are by far the biggest sectors in the index. Moreover, this performance split explains the trading range in the S&P 500 since over the last four weeks.   Read More 

Don't Ignore This Chart

Finance Sector Shows Some Green on the Market Carpet

by Arthur Hill

The Sector Market Carpet is mostly red on Wednesday, but there are some pockets of strength. Overall, the finance is holding up the best and the energy sector is faring the worst. The consumer discretionary and materials sectors also show red and relative weakness on Wednesday. Read More 

Don't Ignore This Chart

Russell 2000 Tests 50-day SMA

by Arthur Hill

The Russell 2000 ($RUT) is leading the market lower and closing in on its rising 50-day simple moving average. Broken resistance from the May-August highs also marks potential support in the 820-830 area. Small-caps ($RUT) are leading the market lower since mid September. Read More 

Don't Ignore This Chart

FirstTrust Internet ETF Hits Resistance from Shooting Star

by Arthur Hill

The FirstTrust Internet ETF (FDN) peaked in mid September with a shooting star candlestick. After dipping below 37.50, the ETF bounced back to this peak and formed a bearish engulfing last week. These two affirm resistance at 39. A break below 38 would confirm the bearish engulfing pattern.   Read More 

Don't Ignore This Chart

QQQ Turns Into Underperformer

by Arthur Hill

The Nasdaq 100 ETF (QQQ) is up since late August, but the price relative is down. The price relative is the QQQ:SPY ratio, which measures relative performance. This ratio peaked in late August and moved sharply lower the last 5-6 weeks. This means QQQ is underperforming the broader market. Read More 

Don't Ignore This Chart

Finance and Energy Sectors See Green on Market Carpet

by Arthur Hill

The Sector Market Carpet shows the Energy SPDR (XLE) and the Finance SPDR (XLF) with the most green. The average energy stock is up 1.6% and the average finance stock is up 1.1%. XLE is getting an oversold bounce after Wednesday’s decline. XLF is poised for its fourth straight gain. Read More 

Don't Ignore This Chart

Apple Forms Doji at 50-day SMA

by Arthur Hill

After hitting a new high above 700 in mid September, Apple (AAPL) gapped down and declined to around 660. Three items mark support in this area. The early September low, the 38.2% retracement and the rising 50-day moving average. With a doji signaling indecision and the Stochastic Oscillator turning oversold, Apple could be ripe for a bounce.   Read More 

Don't Ignore This Chart

Agribusiness ETF Surges and Breaks Flag Resistance

by Arthur Hill

The Agribusiness ETF (MOO) surged over the last three days and broke falling flag resistance. The flag breakout is bullish as long as it holds. Broken resistance and the June trend line mark support at 50.50. The corn and wheat funds are shown in the indicator window for reference. Read More