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Dow and Nasdaq Hit New Highs

by Arthur Hill

Even though stocks were all over the place on Wednesday, the Dow recorded an all time high and the Nasdaq recorded a four year high. Not shabby at all. StockCharts users can keep abreast of these milestones on the Predefined Technical Alerts page.   Read More 

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Networking iShares Leads Industry Group ETFs on Market Summary Page

by Arthur Hill

The Market Summary (ETF mode) provides a quick overview of performance for groups of ETFs. These include broad market, sector, industry group, international, bond, commodity and currency ETFs. Within the industry group ETFs, the Networking iShares (IGN) is leading with a 1+ percent gain in early trading on Tuesday.   Click this image for a live version. Read More 

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Bearish Resistance Line Holds on Alcoa P&F Chart

by Arthur Hill

StockCharts gives users the power to chart intraday P&F charts with trend lines. In this example, the 60-minute P&F Chart shows Alcoa (AA) breaking the Bullish Support Line in June (red 6) and moving to new lows. The July bounce carried the stock to the Bearish Resistance Line, but there was no breakout as AA turned back to affirm resistance.   Read More 

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Technology Market Carpet Separates Winners from Losers

by Arthur Hill

It was a rough two weeks for tech stocks as Broadcom (BRCM), AMD (AMD), Microsoft (MSFT) and Seagate (STX) led the way lower with double digit losses.  Micrsoft, Google and Ebay weighed on the sector because they have relatively large market caps. Note that this market carpet is set in market cap mode to show the biggest stocks with the biggest boxes. The tickers symbols were added by hovering over the image and right clicking for options.  You can learn more about Market Carpets in our video.   Read More 

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Rising Treasury Yields may be Affecting the Homebuilders

by Arthur Hill

The 10-year Treasury Yield ($TNX) surged from 1.6% to 2.6% and then consolidated for a few weeks. Yields could be starting another leg up as $TNX bounces off support this week. This is having a negative impact on homebuilders. Notice that the correlation between the 10-year Treasury Yield ($TNX) and the Home Construction iShares (ITB) turned negative in late May. ITB does not like something because the ETF is testing its 2013 low with a sharp decline this week. *LINEBR** Read More 

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QQQ Hits Resistance at Gap Zone

by Arthur Hill

The Nasdaq 100 ETF (QQQ) got a lift from Apple on Wednesday, but could not hold its early gains as sharp losses in Broadcom (BRCM) and Panera Bread (PNRA) weighed. The chart below shows QQQ gapping down last week and holding this gap the last four days. Notice that the ETF gapped down on high volume. This gap is considered short-term bearish as long as it remains unfilled. Read More 

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Home Construction iShares Battles to Hold the Gap

by Arthur Hill

The Home Construction iShares (ITB) broke out with a gap in mid July and this breakout is still holding. The ETF pulled back into the gap zone, but never completely filled the gap to negate the breakout. The indicator window shows RSI moving into the 50-60 zone and stalling. A break above 60 would be bullish for momentum. Wednesday could be the moment-of-truth because RYL and MTH report tomorrow. *LINEBR** Read More 

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Bollinger Bands Narrow as the Retail SPDR Consolidates

by Arthur Hill

The Retail SPDR (XRT) surged from late June to mid July and then embarked on a rather narrow consolidation. Notice that the ETF traded between 80.3 and 81.6 since July 11th. The overall trend is up, and this favors an upside breakout or continuation higher. Adding a little buffer, I would mark key support at 80 and view a break as short-term bearish. Read More 

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HealthCare and Industrials Join the New High Club

by Arthur Hill

The Consumer Discretionary SPDR (XLY) and the Finance SPDR (XLF) were the first two sectors to reach 52-week highs this month. With big moves over the last few days, the Healthcare SPDR (XLV) and the Industrials SPDR (XLI) join the club. Chart-wise, new highs make these four sectors among the strongest in technical terms. Read More 

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Big Banks Power XLF with New Highs in BAC, JPM and MS

by Arthur Hill

The Finance SPDR (XLF) surged to a fresh 52-week high with leadership from Morgan Stanley (MS), Bank of America (BAC) and JP Morgan (JPM). The CandleGlance chart below shows these three hitting 52-week highs. It is hard to argue with upside leadership from the second biggest sector in the S&P 500. *LINEBR** Read More 

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Patterson Energy Perks up with Surge and Bullish Continuation Pattern

by Arthur Hill

Patternson Energy (PTEN) has been lagging the market and the energy sector the last few months, but shows signs of life with a high volume surge and pennant. A pennant breakout would signal a continuation higher and target a move to the next resistance zone. Note that this is an animated gif created using Adobe Elements and five different SharpCharts. *LINEBR** Read More 

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Animated GIF shows Apple at Make-or-Break Level within Trading Range

by Arthur Hill

The animated chart below shows Apple at a key resistance zone right now. A double bottom could be forming, but the stock is in a long-term downtrend and stalling in the middle of the three month range. A move above 435 would open the door for a double bottom resistance test. A move below 415 would set up a support test in the 390 area.  Note: this animated gif was created with Adobe Elements. *LINEBR** Read More 

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A Momentum Breakout for the Uranium-Nuclear ETF

by Arthur Hill

The Uranium-Nuclear ETF (NLR) caught a bid last week and broke resistance to forge a 52-week high. Notice that a series of rising troughs (green line) preceded this breakout. The indicator window shows MACD confirming strength with a 52-week high of its own. *LINEBR** Read More 

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Utilities SPDR Establishes Resistance with Consolidation

by Arthur Hill

The Utilities SPDR (XLU) is consolidating at a potential support level and traders should watch the consolidation high for a breakout. First, notice how broken resistance and the Fibonacci retracements mark support in the 36-36 area. This is a good spot for a bounce, but a breakout is needed to signal an actual upturn because XLU could continue lower. A move above the June high and a bullish Vortex cross would signal an upturn. Read More 

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Technology SPDR Hits Moment of Truth at Fibonacci Cluster Zone

by Arthur Hill

After a plunge from mid May to mid June, the Technology SPDR (XLK) bounced back to the 31 area to reach its first resistance area. First, broken support turns into resistance here. Second, the Fibonacci retracements tools show a cluster in the 31-31.33 area. Notice that these Fibonacci retracements were drawn from the mid May and mid June highs. Read More