Art's Charts December 29, 2010 at 05:37 AM
Rising interest rates are a plus for the greenback. After a pullback in mid December, interest rates resumed their upward trajectory as the 10-year Treasury Yield ($TNX) surged above 3.45% on Tuesday. Rising interest rates are bullish for both the Dollar and the stock market... Read More
Art's Charts December 28, 2010 at 05:47 AM
There is no real change in the short-term or medium-term situation. Even though some sentiment indicators show excessive bullishness, SPY remains in a clear uptrend on the 60-minute chart and the daily chart... Read More
Art's Charts December 28, 2010 at 05:42 AM
AKAM forms falling wedge. BMY traces out bull flag. CSCO breaks mid-December high. Plus EFTC, ISRG and STX. ----------------------------------------------------------------------------- This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts December 27, 2010 at 04:15 AM
Commentary on Art's Charts will be updated on Tuesday and Wednesday this week... Read More
Art's Charts December 23, 2010 at 04:03 AM
There is no change for the daily or intraday analysis. The uptrend and Santa Claus rally propelled the S&P 500 ETF (SPY) to a new 2010 high again on Wednesday. Once again, the tape rules the roost... Read More
Art's Charts December 23, 2010 at 04:00 AM
$CAKE tests support. $DELL shows strong OBV, $GRMN breaks wedge trendline. Plus $COL, $ERTS, $HRS, $ISRG. ----------------------------------------------------------------------------- This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts December 22, 2010 at 03:26 AM
The uptrend and Santa Claus rally propelled the S&P 500 ETF (SPY) to a new high for 2010. Once again, the tape rules the roost. Broken resistance from the November high turned into first support and held like a champ... Read More
Art's Charts December 21, 2010 at 04:13 AM
The song remains the same. Despite overly bullish sentiment and waning breadth, SPY continues to hold its gains and consolidate above the resistance break. Once again, price action or "the tape" rules the roost here... Read More
Art's Charts December 21, 2010 at 04:11 AM
$COL forms bearish engulfing at key retrace. $FLIR breaks triangle resistance. $MED surges and forms bullish pennant. Plus $AVP, $JAH, $LMT, $SYMC... Read More
Art's Charts December 20, 2010 at 05:07 AM
Sentiment readings show excessive bullishness and breadth has been dragging for two weeks, but the uptrends remain in place and seasonality is bullish. The first chart shows the 5-day EMA for the CBOE Total Put/Call Ratio ($CPC) dipping below ... Read More
Art's Charts December 17, 2010 at 04:29 AM
There is no change in the indicator summary. Stocks stalled this week, but held their gains and remain in uptrends overall. Breadth has started to wane as the NYSE AD Line failed to break above its November high... Read More
Art's Charts December 17, 2010 at 03:38 AM
There is no much change on the daily chart. SPY remains overbought with a few sentiment indicators showing excessive bullishness and breadth waning... Read More
Art's Charts December 16, 2010 at 04:28 AM
The Euro Currency Trust (FXE) broke wedge support as Forex traders returned to focus on Euro negatives (debt). This does not mean the Dollar has solved its problems. Merely, the focus has shifted back to the Euro... Read More
Art's Charts December 16, 2010 at 04:21 AM
$ADBE Shows Relative Weakness. $DELL Breaks Wedge Support. $MYL Breaks Resistance. Plus $FRX, $GILD, $PSA. ----------------------------------------------------------------------------- This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts December 15, 2010 at 05:41 AM
SPY remains overbought with a few sentiment indicators showing excessive bullishness, but there are simply no signs of signficant selling pressure. With yearend approaching and seasonal patterns largely bullish, stocks could simply remain overbought and hold their uptrends... Read More
Art's Charts December 14, 2010 at 04:03 AM
The CBOE Total Put/Call Ratio ($CPC) is nearing an extreme that coincided with the January and April peaks. Before looking at the details, keep in mind that market sentiment is hard to pin down... Read More
Art's Charts December 14, 2010 at 03:55 AM
AEO Forms Pennant at Key Support. HPQ Shows Relative Weakness. RTN Leads Weak Defense Group Lower. Plus CL, LLL, QLGC, WFR ----------------------------------------------------------------------------- This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts December 13, 2010 at 06:27 AM
Even though the Euro declined last week, stocks remained strong and closed near their highs for the week. The first chart shows the Euro Currency Trust (FXE) peaking around 133.5 and falling below 132 last week. The decline is slow and the pattern looks like a falling flag... Read More
Art's Charts December 10, 2010 at 04:04 AM
There is no change in the indicator summary. Stocks held their gains this week and there was not much movement. Led by strength in the finance sector, the NYSE AD Volume Line moved above its November high. The November lows mark key support for the AD Lines and AD Volume Lines... Read More
Art's Charts December 10, 2010 at 03:21 AM
I am still watching the falling flag in the Euro. A falling Euro is potentially negative for stocks and the short-term trend is clearly down as long as the flag falls. On the Euro Currency Trust (FXE) chart, a move above 132... Read More
Art's Charts December 09, 2010 at 05:24 AM
A surge in interest rates should be bullish for the Dollar, but the Dollar barely moved on Wednesday and Forex vigilantes could turn their sites on the Dollar... Read More
Art's Charts December 09, 2010 at 05:14 AM
EK bounces on uptick in volume. GILD bounces off broken resistance. MOT breaks wedge resistance. Plus BSX, KFT, MOT, PEP. See the About Page for details on the commentaries in Art's Charts... Read More
Art's Charts December 08, 2010 at 03:37 AM
While the relationship is not perfect, stocks and the Euro still have a pretty good positive correlation. This means both rise and fall together. The clear discrepancy is from 23-Nov to 30-Nov when the Euro fell sharply and SPY held support from its mid November lows... Read More
Art's Charts December 07, 2010 at 04:09 AM
On the daily chart, SPY formed a very small candlestick with the narrowest range in over a week. The most popular narrow range indicators are NR-4 and NR-7, which refer to the narrowest high-low range in four or seven days... Read More
Art's Charts December 07, 2010 at 04:05 AM
Natural Gas surges as cold hits $NATGAS. CHK bounces off support. NXY challenges resistance. Plus DLTR, EBAY, SUSS. ----------------------------------------------------------------------------- This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts December 06, 2010 at 04:15 AM
The positive correlation between stocks and the Euro remains in place. The Euro got an oversold bounce last week and this helped propel stocks higher. Strong economic numbers on Wednesday also helped the bullish cause... Read More
Art's Charts December 03, 2010 at 04:39 AM
Today marks three full months that the indicator summary has been positive. After some whipsaws in the summer, this table turned positive on September 3rd and remains positive. Some signs of weakness appeared in November, but these were erased with this week's surge and breakout... Read More
Art's Charts December 03, 2010 at 03:38 AM
There is no change on the daily or 60-minute charts. SPY built on its breakout with a 1.28% gains. Perhaps more importantly, the finance sector led the way with a huge move. Megabanks, regional banks and brokers led the way... Read More
Art's Charts December 02, 2010 at 05:26 AM
A little bounce in the Euro, some positive economic news and bullish seasonal patterns pushed stocks sharply higher on Wednesday. Historically, December is the second strongest month of the year for stocks... Read More
Art's Charts December 02, 2010 at 05:22 AM
$EFTC forms cup-with-handle. $GE bounces of key retracement zone. $PMCS surges off support with good volume. Plus $MCK, $PEP, $SYK, $V, $WY... Read More
Art's Charts December 01, 2010 at 01:44 AM
It is as if the under-invested fund managers can smell the yearend. SPY gapped down and moved below 118 yet again on Tuesday, but the bulls pushed the ETF back above 119 in the afternoon... Read More
