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Canadian Market Surges 2019-02-16 Video

by Greg Schnell

The Canadian market has been slowly underperforming the US markets over the last two weeks. Friday had a nice surge in Technology, Financials, Oils, and metal miners as the chart for the TSX 60 broke above the 200-day moving average. Notice the change in the purple area of the chart. You should always be cautious any time the $TSX starts to underperform.  Here is a long term view of the  Read More

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Techniques to Spot Early Signs of Relative Strength

by Arthur Hill

Chartists can compare two price plots to find early signs of relative strength. This can be done by comparing the corresponding peaks or troughs for two names, such as the Russell 2000 iShares (IWM) and the S&P 500 SPDR (SPY). It is a sign of relative strength when one holds a prior lows as the other breaks below corresponding lows. Such early signs of relative strength can foreshadow  Read More

Oil Takes A Turn Higher - Weekly Market Roundup 2019-02-16

by Greg Schnell

The markets have been working there way through indecision the last two weeks. Most of my indicators broke above the indecision levels this week including Bullish Percent Indexes, Percentage of Stocks above the 200 Day Moving Average, Net New Highs, Advance/Decline lines, and Summation indexes. That's a solid list pushing out of indecision. For Bullish Percent Indexes and 'percentage of stocks  Read More

Energy Is Up To Bat

by Greg Schnell

One of the hurdles to being a great market analyst is understanding the shifting sands of the stock market without an end point. In a baseball game, momentum may swing to and fro, but the game has an ending, based on innings and score, that defines when the game is over. The stock market, by contrast, wakes up renewed every day with new clues and no predefined terminus as to where  Read More

The Secret Combination For Solid Reward To Risk Trades

by John Hopkins

Well, it's really not a secret, but it's  our secret at EarningsBeats.com.  Our mantra is "Better Timing.  Better Trades." and, for us, that means finding the best stocks, identifying key price and moving average support and then adding..an extra helping of patience.  Many of the stocks on our Strong Earnings ChartList never hit key  Read More

Week Ahead: Stable Start To The Week Expected; Cracks Might Appear If These Levels Are Not Defended

by Milan Vaishnav

The past week remained quite dismal for the market, which ended in the negative on all five days. After a failed breakout on the daily charts, the NIFTY returned inside the broad trading range and subsequently drifted even lower. The index has been defending the 50-Week Moving Average for over eight weeks now but, following the previous week's decline, it has ended marginally below this  Read More

Here's How Relative Strength Will Help Your Trading Right Now

by Tom Bowley

Understanding relative strength is extremely important in outperforming the benchmark S&P 500.  As a sector begins to outperform, it tells us that money is rotating towards that particular sector.  One way to visualize this is to look at an RRG chart.  It will only take one glance to quickly identify what's working RIGHT NOW and what is not: I have highlighted consumer  Read More

Checking The NIFTY 50 Universe On RRG Results In A Nice Setup For INFRATEL.IN

by Julius de Kempenaer

With more and more eyeballs looking at the Indian stock market and data for individual stocks and sectors becoming available on Stockcharts.com I started to keep an eye on developments in that market via Relative Rotation Graphs. To make it easier (for you but also myself), the NIFTY 50 Index is added as a group to the drop-down selection box. This universe holds all the members of the NIFTY 50  Read More

Small and Mid Caps Take the Momentum Lead

by Arthur Hill

The Relative Strength Index (RSI) is a momentum indicator that chartists can use to measure the strength behind a price move. Moreover, chartists can also use RSI values to rank momentum and find the leaders. As an indicator that measures the magnitude of gains  Read More

Dow and SPX Log New IT BUY Signals - Consumer Discretionary (XLY) LT BUY Signal

by Erin Swenlin

During today's DecisionPoint show on StockCharts TV (airing Fridays at 4:30p EST), Carl and I discussed how, while we're still bearish, there are signs of improvement. The main problem will be getting too overbought. Three signs of definite improvement are the two new IT Price Momentum Oscillator (PMO) BUY signals on the Dow and SPX Scoreboards, as well as the new LT Trend Model BUY  Read More

Nasdaq May Be the Third Major Stock Index to Cross Its Red Line

by John Murphy

Editor's Note: This article was originally published in John Murphy's Market Message on Friday, February 15th at 12:40pm ET. Charts 1 and 2 show the Dow Industrials and S&P 500 building on their gains after rising above their 200-day averages (red lines). Both now appear headed for a  Read More

2/15 MWL Recap: What's Hot, What's Not - Under the Radar

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

DP WEEKLY WRAP: Negative Signs Still Haven't Delivered

by Carl Swenlin

There are some indicators that have been warning of a price top for a couple of weeks, but the market just keeps powering upward. (1) There is an OBV reverse divergence, where the OBV has exceeded its December top well ahead of price. This means that heavy volume hasn't been able to bring price along with it. (2) Price has formed a rising wedge, which we normally expect to break down. (3) The  Read More

How To Get The Confidence To Profit From Bullish To Bearish Transitions By Recognizing The Evidence

by Gatis Roze

Life can be cruel if change happens and you miss the signs during the transition. I'll offer up four examples with mild to toxic consequences: Weather, Science, Superstars and finally, the Stock Market. Pretty much everyone is aware of the predictable and abrupt shift in the weather as the temperature nears 32 degrees Fahrenheit. We've mastered the concept of water-to-ice and rain-to-snow when  Read More

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MARKET RALLY CONTINUES AS NASDAQ TESTS ITS 200-DAY AVERAGE -- FINANCIALS LEAD TODAY'S GAINS

by John Murphy

NASDAQ MAY BE THE THIRD MAJOR STOCK INDEX TO CROSS ITS RED LINE Charts 1 and 2 show the Dow Industrials and S&P 500 building on their gains after rising above their 200-day averages (red lines). Both now appear headed for a test of their early December peaks. Chart 3 shows the Nasdaq Composite Index in the process of testing  Read More

This Marathon Stock Has Had Marathon Buying

by Greg Schnell

Marathon Oil (MRO) has had two marathon buying days with massive volume. While Day One didn't see any price movement on large volume, Day Two sure did. The price has just moved out of a short 2-month base and looks set to accelerate from there. The stock is meaningfully off the October highs, but it is showing all the right signs for a break from the downtrend. The SCTR is surging from below 10  Read More

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Weekly Market Review & Outlook (w/Video) - S&P 500 Tilts Bullish

by Arthur Hill

Reviewing the Weight of the Evidence New Highs Expand in XLK Sector Table is Net Bullish (XLK, XLV, XLI Lead) What If December-January Never Happened? Four Consolidations to Watch (XLF, IAI, XRT, IBB) New Additions to the ChartList AMD Keeps Flag Alive Finisar Holds Breakout Intuitive Surgical Breaks Pennant Walgreens-Boots Challenges Bollinger Band Eli Lilly and Microsoft Make the Cut  Read More

Turn Off CNBC And Turn On StockCharts TV

by Tom Bowley

Market Recap for Thursday, February 14, 2019 Real estate (XLRE, +0.38%) and communications services (XLC, +0.37%) were the leaders yesterday as Wall Street staged a rally attempt after dealing with an early blow - a very weak December retail sales report.  There's one thing everyone should keep in mind though - the stock market looks ahead and not in the rear view mirror and that was on  Read More

Gathering Evidence

by David Keller

Humans are emotional beings, generally making decisions based on their emotional state. Consequently, when the market moves against your positions, you will most likely have a visceral reaction to that event. The fear of losing and/or the fear of missing out are often the causes of bad investment decisions. In his book  Mastering the  Read More

JP Morgan deteriorates further on Relative Rotation Graph

by Julius de Kempenaer

One of the choices in the drop-down selection on the Relative Rotation Graphs page is the DJ-industrials (Dow 30 Industrials). This RRG shows the rotation of all 30 Dow stocks against the $INDU. The RRG above shows the daily rotation and highlights the rotation of JP Morgan Chase & Co. (JPM), a heavyweight in the financials sector. This rotation caught my attention as it is moving strongly  Read More

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China Goes for a Breakout

by Arthur Hill

Chinese stocks came to life after their New Year's holiday with the Shanghai Composite ($SSEC) and some ETFs breaking double bottom resistance. Before looking at these charts, let's review the double bottom, which is a bullish reversal pattern. First and foremost, there must be a downtrend to actually reverse. Second, there are two lows in the same area. Third, the pattern is confirmed with a  Read More

For Now, Small Is Better

by Tom Bowley

Market Recap for Wednesday, February 13, 2019 The stock market is beginning to exhibit a bit of the borishness that accompanies bull market advances.  The Volatility Index ($VIX) remaining below 16 is confirming the reduced level of fear.  There were certainly swings intraday yesterday, but the panicked, impulsive-type selling appears to have dissipated, which is bad news for the  Read More

Tracking Error is the Challenge All Investors Must Meet - part 4

by Brian Livingston

Beating the market in every up AND down month is a 'yeti portfolio' - a myth, a dream. Today's computerized traders would overgraze any such system. • Every strategy that outperforms the S&P 500 over complete bear-bull market cycles MUST have years of underperformance. Impatient investors think these formulas 'don't work,' which keeps the strategies from becoming overused and worn out. •  Read More

2/13 MWL Recap: In the Know Trader, Rick Bensignor - Spotlight Stocks

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

DP Alert: Bearish Rising Wedge is Back on SPX

by Erin Swenlin

No changes to the DecisionPoint Scoreboards today. My concern now rests on the new bearish rising wedge that has appeared on the SPX chart. Not all of the indicators are confirming the recent rally. The newest change to the DecisionPoint Sector Scoreboard was an IT Trend Model BUY on the Energy SPDR (XLE). This now has all of the sectors on IT BUY signals. LT BUY signals are only among the  Read More

DR Horton Builds A Base To Stair Out Of (DHI)

by Greg Schnell

D.R. Horton (DHI) has been in a year-long down trend. Yesterday, on the back of a broad move by the indexes higher, DHI broke above a long downtrend line. It's early in the week, but this would be the first close above the trend line in a year if we can stay at these levels through Friday. A couple of promising signs are starting to show up on the chart. Starting at the bottom,  Read More

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THE S&P 500 JOINS THE DOW ABOVE ITS 200-DAY AVERAGE -- CONSUMER DISCRETIONARY AND INDUSTRIAL SPDRS HAVE CROSSED THEIR THEIR RED LINES

by John Murphy

S&P 500 CROSSES ABOVE ITS 200-DAY AVERAGE Up to last night, the Dow Industrials were the only major stock index to trade above their 200-day average. The S&P 500 closed marginally above its 200-day line yesterday. Chart 2 shows the SPX extending that gain over its red line today. That leaves their early December highs as the next resistance  Read More

Finding Stocks To Achieve Your Goals

by Tom Bowley

Market Recap for Tuesday, February 12, 2019 Another government shutdown was averted and the U.S. stock market reacted quite favorably, as you might expect, with all of our major indices surging higher.  Our major indices had quite a day: Dow Jones:  +1.49% S&P 500:  +1.29% NASDAQ:  +1.46% Russell 2000:  +1.27% Materials (XLB, +2.24%) led all sectors, buoyed at least  Read More

CBOE Holdings Fails to Bounce

by Arthur Hill

We are 29 trading days into 2019 and the S&P 500 is up a very respectable 9.49%. Furthermore, some 465 stocks in the S&P 500 are up year-to-date, which means 35 are down year-to-date. CBOE Holdings (CBOE) is one of these stocks (-3.91% year-to-date) and a bearish continuation pattern is taking shape on the price chart. The chart shows CBOE breaking out with a surge in late October and  Read More

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New Highs Expand - Plus Four Stocks

by Arthur Hill

SPX High-Low Percent Nears Signal Flip. Intuitive Surgical Breaks Out. Walgreens-Boots Bounces off 200-day. Careful with AMD. RSI Improvements in Intel. Five of the nine breadth indicators are on bearish signals right now, but S&P 500 High-Low% ($SPXHLP) reached 9.8% on Tuesday and is close to triggering bullish. A move above +10% would flip this indicator signal and turn the majority  Read More

2/12 MWL Recap: "Monday" Setups - Break It Down - Sentiment Update

by Erin Swenlin

Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on  StockCharts TV; you can also find the latest episodes on the YouTube StockCharts  Read More

Pair Analysis - 2

by Greg Morris

To prove that I read all comments, here are some pair charts and data that is  updated to 12/31/2018. First a review of what pair analysis is. My pair analysis is accomplished on weekly data.   Think of the ratio line like this: when it is moving upward it means the numerator (IJR) is outperforming the denominator (IEF).  When the Rate of Change (ROC) goes below the -4% line  Read More

Time To Place Your Spring Hotel Reservation?

by Tom Bowley

Market Recap for Monday, February 11, 2019 Industrials (XLI, +0.53%), energy (XLE, +0.48%) and financials (XLF, +0.31%) were Monday's leaders as bifurcated action was once again present.  The clear index leader was the small cap Russell 2000 index (+0.84%) and that's become a theme in 2019 as discussed more in the Current Outlook section below.  The other major indices hugged the flat  Read More

Tracking Error is the Challenge All Investors Must Meet - part 3

by Brian Livingston

The Dow Jones Industrial Average has beaten the S&P 500 for decades. But people love the S&P. Why? Because they don't know how to use tracking error. • Over the past 21 years, the DJIA has delivered 32% more gain than SPY. But traders shun the Dow. (SPY has 22 times the trading volume of DIA, the ETF that mirrors the Dow.) Mastering tracking error enables you to put more money in your  Read More

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Dollar Index On The Verge Of A Breakout?

by Martin Pring

Dollar About to Break New Ground? Euro Starting to Break Down Swiss Franc at a Major Juncture Point The Fortunes of the Canadian, Australian and EM Currencies are Tied to Commodities Dollar About to Break New Ground? I last wrote about the dollar at the end of January, pointing out that it had just broken above the green down trend line (flagged as "A" in Chart 1). That situation looked to  Read More

WDAY Works Out

by Bruce Fraser

In a September 2017 blog, we studied Workday, Inc. (WDAY). We looked at WDAY as an emerging 'Campaign Stock'. These stocks have characteristics that could propel their uptrends for years to come. The Wyckoff Method offers the tools to identify these candidates. Chief among them is structural chart analysis and Point and Figure studies. Take some time now to study the prior WDAY post and then we  Read More

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DOLLAR INDEX MAY BE NEARING AN UPSIDE BREAKOUT -- SEVERAL FOREIGN CURRENCIES HAVE FAILED TESTS OF 200-DAY AVERAGES

by John Murphy

DOLLAR INDEX NEARS NEW HIGH The recent upturn in the dollar is continuing today. The daily bars in Chart 1 show the Invesco U.S. Dollar Index Fund (UUP) jumping to the highest level in two months and nearing a challenge of its December high. A close above that chart barrier would put the UUP at the highest level in nearly two years. That's most likely due to the fact  Read More

MINDTREE.IN: Good Up-Move In The Offing If This Level Is Crossed

by Milan Vaishnav

While the markets have been suffering from fractured breadth and the NIFTY moved below 10950 (its breakout level) following a strong throwback, the CNXIT index has crawled back into the leading quadrant of the Relative Rotation Graph (RRG). This means that the IT pack is likely to relatively out-perform the broader markets.  With that in mind, the IT pack stock MINDTREE.IN  Read More

Bank Of America Looks Like A Winner

by Tom Bowley

Market Recap for Friday, February 8, 2019 Friday was a solid day for the bulls.  It wasn't because we saw large gains, because we didn't.  In fact, it was bifurcated action where the S&P 500, NASDAQ and Russell 2000 barely closed higher with gains of 0.07%, 0.14% and 0.05%, respectively.  The Dow Jones failed to break into positive territory, instead dropping 0.25%.  But  Read More

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Pennant Breakouts Remain in Play for SPY and QQQ - Six Stocks Consolidating above their 200-day SMAs

by Arthur Hill

The stock market took a rest last week as the S&P 500 stalled in the 2708 area, which is just below the 200-day SMA. Note that the S&P 500 rose 24 of the last 31 days and gained around 15% in six weeks. It still looks like a precarious  Read More