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Tables Turn as Techs Lead and Defensive Sectors Lag

by Arthur Hill

After months of leadership from the three defensive sectors, the tables turned over the last seven days as the Technology SPDR (XLK) started leading the market. Notice that the Healthcare SPDR (XLV) and Consumer Staples SPDR (XLP) are actually down since 22-April, while the Utilities SPDR (XLU) is up less than the S&P 500.   Read More 

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Apple Forms Inside Week on High Volume

by Arthur Hill

Apple (AAPL) remains in a downtrend overall, but signs of firmness emerged as the stock forged an inside week. This occurs when the week’s high-low range is inside the prior week’s high-low range. Also notice that the stock advanced on the highest upside volume since April 2012. *LINEBR** Read More 

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Facebook Springs to Life with Gap and MACD Cross

by Arthur Hill

Facebook (FB) has underperformed the market this year, but momentum is improving as MACD moved above its signal line this week. Notice how the stock held support in the 25 area and gapped up on Friday. This gap is bullish as long as it holds. A move below 25.9 would negate the gap. *LINEBR** Read More 

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Nasdaq 100 Breaks Out on 15 minute P&F Chart

by Arthur Hill

The Nasdaq 100 ($NDX) swings have been quite wild this month, but the 15 minute P&F chart captured these pretty well. In particular, the Triple Top Breakout and Triple Bottom Breakdown identified the early April upswing, the mid April downswing and the upswing over the past week. There was, however, a bad signal just before today’s breakout. The black arrows point to these signals. Read More 

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Consumer Discretionary and Finance Sectors Lead the Rebound

by Arthur Hill

After a sharp decline last week, stocks recovered with bounce the last three days. The Sector PerfChart shows the Consumer Discretionary SPDR (XLY), Finance SPDR (XLF) and Basic Materials SPDR (XLB) leading this bounce. Also note that the Consumer Staples SPDR (XLP) and Healthcare SPDR (XLV) are also outperforming because they are up more than the S&P 500 ETF (SPY). The other four sectors are lagging.  *LINEBR** Read More 

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Silver:Gold Ratio Plunges to 52-week Low

by Arthur Hill

The Silver:Gold Ratio broke down in February and exceeded its summer low in April with a sharp decline. The 52-week low shows that silver is much weaker than gold. This fits with weakness in copper because silver is more of an industrial metal than gold.   *LINEBR** Read More 

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Charts for Six Stocks Reporting Earnings on Monday

by Arthur Hill

It is a big week for earnings so here are CandleGlance charts for six stocks reporting today. Of interest, ACE is hitting support from broken resistance, CAT is nearing the November low, HAL remains in a falling channel and Texas Instruments is testing support. Read More 

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Copper ETF Hits Long Term Support Zone

by Arthur Hill

With a sharp decline this month, the Copper ETF (JJC) entered a support zone that extends back to the 2010 lows. The ETF also become oversold as RSI dipped below 30 for the first time since September 2011. The knife, however, is still falling as long as RSI remains below 30. Read More 

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Hindenburg Omen Triggers As New Lows Surge

by Arthur Hill

The Hindenburg Omen triggered on Monday as the percentage of new lows and new highs on the NYSE moved above 2.8%. There is some debate on this threshold because I have seen 2.2% and 2.4% used by other analysts. Using these lower thresholds, the omen triggered again on Wednesday. Even though this is a bearish signal, don’t forget that the August 2010 signal did not pan out. *LINEBR** Read More 

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Finding the Winners in a Sea of Red

by Arthur Hill

Stocks were hit with across the board selling on Wednesday. All sectors were down, but there were a few stocks that bucked the selling pressure. As the Market Carpet shows, there are at least ten advancing stocks, which are represented by the green or greenish squares. A list can be seen on the left of the Market Carpet.  *LINEBR** Read More 

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Coca-Cola leads Consumer Staples SPDR with 5% Surge

by Arthur Hill

After falling 2.5% on Monday, Coca-Cola (KO) recovered with a 5+ percent surge to lead the Consumer Staples SPDR (XLP) higher on Tuesday. KO Has been one of the top performing stocks in 2013 and XLP has been one of the top performing sectors. *LINEBR** Read More 

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Consumer Discretionary Sector Joins the Defense

by Arthur Hill

Friday was a rather strange day for the sector SPDRs. Notice that the consumer discretionary, consumer staples, healthcare and utilities SPDRs moved higher. It is unusual to see the consumer discretionary sector rise along with the three defensive sectors, especially when the S&P 500 is down for the day. $SPX closed lower because the other five sectors moved lower. Even though $SPX closed off its morning low, it was still a weak day for the sectors overall. *LINEBR** Read More 

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Nvidia Bucks the Market with a Triangle Breakout

by Arthur Hill

Stocks were down in early trading on Friday, but Nvidia (NVDA) got off to a strong start with a surge above 13 and a three month high. NVDA formed a triangle from January to April and broke the upper trend line with this advance. MACD also turned up and crossed into positive territory. Read More 

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Palladium ETF Bounces off Support Zone

by Arthur Hill

The Palladium ETF (PALL) fell along with gold last week, but managed to firm near the early March low and bounce off support today. Notice that broken resistance turned into support in the 70 area. The indicator window shows PALL relative to the Gold SPDR (GLD). PALL outperformed from November to early March and relative performance turned flat the last six weeks. *LINEBR** Read More 

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Tech Stocks See the Most Green on the Market Carpet

by Arthur Hill

The Sector Market carpet is full of green on Wednesday with the average tech stock up 1.8%. JDS Uniphase, Micron and Juniper are leading the way. There are, however, some big losers today with First Solar, Tenet and Fastenal down over 3%. These can be seen with the red boxes.   Read More 

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Intel Surges to Resistance on High Volume

by Arthur Hill

Intel gave a lift to the MarketVectors Semiconductor ETF (SMH) and Semiconductor SPDR (XSD) with a 3.13% advance on the highest volume since late February. Notice how the stock formed a higher low with the late February surge and then consolidated the last five weeks.  A consolidation breakout would signal a continuation higher. Read More 

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Silver Tests Long-term Support $SILVER

by Arthur Hill

After falling sharply in April and September 2011, Spot Silver ($SILVER) moved into a trading range with resistance at 36 and support at 26. Silver has touched support at least three times and is poised to test this area again. This marks an important test because a break would signal a continuation of the 2011 plunge.  Read More 

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Treasury Bond ETF Outperforms SPY and USO

by Arthur Hill

The PerfChart below shows five ETFs representing the inter-market picture. Even though the S&P 500 ETF (SPY) and the US Oil Fund (USO) are up over the past month. notice that the 20+ Year T-Bond ETF (TLT) is up a lot more. Treasuries are showing relative strength and this is a potential negative for the stock market. Read More 

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Materials and Energy SPDRs are the First Sectors to Turn Negative

by Arthur Hill

With a hard hit this week, the Energy SPDR (XLE) and the Materials SPDR (XLB) are now down month-to-date. In contrast, the S&P 500 and other seven sectors are still up since March 1st. The technology, industrials and finance sectors are, however, underperforming because they are up less than the S&P 500. XLE and XLB clealry show the most relative weakness.   Read More 

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Utilities Show Least Red on Market Carpet

by Arthur Hill

The market carpet was mostly red on Wednesday with pockets of deep red in the finance and energy sectors. The utilities sector held up the best as the average stock fell 30 cents. There were some isolated pockets of strength in the consumer discretionary as ANF and KSS bucked the market.    *LINEBR** Read More 

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Nasdaq Summation Index Tests 50-day Moving Average

by Arthur Hill

The Nasdaq Summation Index ($NASI) remains in an uptrend overall, but the indicator hit resistance near the February high and turned lower the last few weeks. A break below the 50-day moving average would be negative and a break below the support low would turn this Nasdaq breadth indicator bearish. *LINEBR** Read More 

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Telecom iShares Gets Caught in a Moving Average Sandwich

by Arthur Hill

The Telecom iShares (IYZ) is finding support from the rising 200-day moving average and hitting resistance at the 50-day moving average. A move above the March highs would break the 50-day and keep the longer term uptrend alive. Notice that MACD is improving as it inches into positive territory. Read More