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XSD Tests Breakout with Bullish Continuation Pattern

by Arthur Hill

The Semiconductor SPDR (XSD) is consolidating within an uptrend as broken resistance turns first support in the 51 area. A small wedge or pennant formed the last five weeks and a break above 54 would signal a continuation higher. The indicator window shows XSD relative to SPY. Notice how XSD underperformed from January to October 2012 and then outperformed from October to June. Read More 

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MidCap SPDR Bounces off Support Zone, but Still Lags

by Arthur Hill

After hitting a new high in mid May, the S&P MidCap 400 SPDR (MDY) fell back towards its April lows in June. Combined with the 38.2% retracement, these lows mark support in the 200-202 area. MDY has yet to fully recover from last week’s plunge and needs to break the May trend line before we can take an oversold bounce seriously. Also notice that the ETF shows relative weakness as the price relative moved to its lowest level of the year. Read More 

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Wal-mart Comes Across Bullish Momentum Scan

by Arthur Hill

Wal-mart corrected with the rest of the market over the last two months and retraced 50-61.80% of its prior advance with a falling channel. The correction stopped just short of broken resistance in the 72 area as prices surged back above 75 the last few days. Also notice that MACD moved above its signal line, which qualified WMT for the bullish MACD cross scan. Read More 

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S&P 500 Breaks Bullish Support Line On P&F Chart

by Arthur Hill

With a move below 1570, the S&P 500 broke the blue Bullish Support Line and a new Bearish Resistance Line has been drawn (red). Looking at price action, there is a lot of support in the 1535-1540 area and this is the next target. Notice the three O-Columns that mark lows here in March and April. Read More 

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Brent Oil ETF Confirms Bearish Continuation Pattern

by Arthur Hill

Weakness in stocks and strength in the Dollar weighed on oil as Spot Light Crude ($WTIC) and Brent futures fell sharply. The chart below shows Brent Crude ETF (BNO) breaking wedge support with a plunge below 77. The indicator window shows August Brent (^BQ13) falling and testing the wedge trend line. Read More 

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Defensive Sectors Offer no Safety and Lead the Way Lower

by Arthur Hill

The stock market peaked on May 22 and all sectors are down since then. The S&P 500 is down 4.09%, but the Consumer Staples SPDR (XLP), Healthcare SPDR (XLV) and Utilities SPDR (XLU) are down more and showing relative weakness. XLU is down a whopping 7.79% as rising interest rates hurt this debt-laden sector. Note: chartists can double click the slider to enter a number and set an exact date range. Read More 

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Where’s the Green? Juniper and JDS Uniphase Buck the Selling.

by Arthur Hill

The stock market is down sharply on Thursday, but there are a few green shoots on the sector Market Carpet. In the technology sector, notice that Redhat (RHT), Citrix (CTXS), JDS Uniphase and Juniper (JNPR) are up so far today. In fact, the technology sector is holding up relatively well with the average stock down only 1.36% at midday. Hint: Hover over the Market Carpet and right click see box options. Read More 

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Corn ETN Leads Surge in Softs

by Arthur Hill

The Corn ETN (CORN) is leading a surge in soft commodities. The chart below shows the ETN breaking out in late May and then falling back in June with a wedge. The wedge low held above the prior lows and the ETN broke wedge resistance with a strong move the last few days. The indicator window shows July Corn (^CN13) challenging ascending triangle resistance. Note that futures prices are EOD (end of day) and today's action will be added after the market close. *LINEBR** Read More 

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Agribusiness ETF Attempts to Firm within Wedge

by Arthur Hill

The Agribusiness ETF (MOO) broke channel resistance with a surge above 55, but fell back rather sharply over the last four weeks. The five week trend is down as a falling wedge takes shape. Even though the ETF firmed the last five days, it remains short of a trend reversing breakout. Look for a move above last week’s high and a CCI move above the zero line to get a breakout signal. Watch MON, IPI and POT for clues. Read More 

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Netflix Holds Gap with Another Gap

by Arthur Hill

Netflix, which is no stranger to gaps, gapped up in April held this gap throughout May. A falling wedge pushed the stock back toward the gap zone in June, but this wedge ended with a gap on good volume. The breakout-gap is bullish as long as it holds. Read More 

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Emerging Market Bond ETF Confirms Bearish Reversal Pattern

by Arthur Hill

The iShares Emerging Market Bond ETF (EMB) formed a double top from December to May and confirmed this pattern with a support break in late May. Notice that the ETF fell over 8% as rumors of Fed tapering hit the market. This decline reflects some serious chaos and surely rattled some big portfolios. Click this image for a live table. Read More 

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Two Technical Features Suggest Support for the Homebuilders SPDR

by Arthur Hill

The Homebuilders SPDR (XHB) is finding support with a bounce last week and small gain in early trading on Thursday. Notice that the ETF is trading near the November trend line and the 61.80% retracement. These two items suggest support is at hand. A break above last week’s high would reverse the four week down swing. Read More 

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Treasury Bond ETFs Forge Intraday Reversals

by Arthur Hill

The 7-10 year T-Bond ETF (IEF) opened weak and closed strong on Tuesday to forge an outside reversal day or bullish engulfing pattern. This is potentially positive, but we have yet to see follow through with a break above first resistance at 105. Also notice that the Commodity Channel Index (CCI) remains below momentum resistance at zero. Watch these levels for a short-term breakout that would be bullish for Treasuries and possibly bearish for equities. Read More 

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Regional Bank SPDR Challenges Flag Resistance

by Arthur Hill

With a bounce after the open on Tuesday, the Regional Bank SPDR (KRE) is showing resilience as it challenges flag resistance. Notice how the ETF surged from mid April to mid May and then corrected with the falling zigzag (flag). A breakout at 33.25 would signal a continuation higher. Read More 

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Cbeyond Shows Relative Strength on Small-cap SCTR Table

by Arthur Hill

StockCharts Technical Rank (SCTR) for the S&P SmallCap 600 ($SML) ranks 600 small-cap stocks according to their technical strength. Chartists can also sort this table by change to find the bigger (relative) movers. Cbeyond (CBEY), B&G Foods (BGS) and Tangoe Inc (TNGO) are leading today with the biggest gains in their SCTR. Click this image for a live table. Read More 

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QQQ Follows Thru on High Volume Hammer

by Arthur Hill

The Nasdaq 100 ETF (QQQ) fell below 72 on Thursday, but rallied to forge a strong close and form a hammer. Also notice that volume surged to its highest in over three months. QQQ followed through with a gap and move above 73, but has yet to break flag resistance just above 73.50. Read More 

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Finisar Makes the Gap Scan with a Surge Higher

by Arthur Hill

Finisar (FNSR) has had a tough year so far, but the stock is showing signs of life after a bear trap in late May (failed support break) and gap breakout in early June. Also notice that RSI is challenging range resistance and a breakout at 60 would be bullish for momentum. FNSR was spoted in the gap up group on the intraday predefined scan page. Read More 

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Target Fills Gap after Shooting Star

by Arthur Hill

Target (TGT) surged to a new high above 72, but failed to hold above 72 as a shooting star candlestick formed on Tuesday. The stock went on to fill Tuesday’s gap with a long filled candlestick on Wednesday. This confirms the shooting star and resistance in the 71-72 area. Read More 

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Facebook Lags, but Support Could be Near

by Arthur Hill

Facebook (FB) led the market from late October until early January, but stumbled in January and has lagged the S&P 500 since. Despite relative weakness and a 4-5 month downtrend, support could be near as the stock trades near the 61.80% retracement and broken resistance. Read More 

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All Ords Index Breaks Key Support

by Arthur Hill

Weakness is spreading in Asia as the Australian All Ords Index ($AORD) breaks support from the April lows. The chart below shows the index testing support last week. $AORD closed at 4873 on Monday, which is just below the April lows. Also notice that the index has been underperforming the S&P 500 since late February. Read More