Art's Charts June 30, 2011 at 05:46 AM
It is family vacation time. This is the pause that refreshes. I will be taking a two week vacation starting Friday, July 1st. The next updates will be on Monday, July 18th... Read More
Art's Charts June 30, 2011 at 05:42 AM
It's a choppy time for the indicator summary as the total flipped from -2 to +2 this week as the AD Volume Lines and Sector Performance were upgraded. The AD Volume Lines broke their March lows two weeks ago, but recovered with a strong breadth surge this week... Read More
Art's Charts June 30, 2011 at 03:53 AM
ANF Stalls at Trendline Support. AKS Gaps up from Support. INTC shows Relative weakness the Last Two Weeks. Plus AKAM, CCI, NTAP. This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 30, 2011 at 02:50 AM
Stocks extended their gains on Wednesday with the S&P 500 ETF taking the lead. The day's gain was relatively modest (+.86%), but it was enough to comfortably clear resistance extending back to June 6th... Read More
Art's Charts June 29, 2011 at 04:36 AM
Small-caps and large-techs continue to lead the rebound off the March lows. The S&P 500 ETF (SPY) got into the action yesterday with a break above its mid June highs and the highest close since June 3rd. SPY is late to the breakout party, but better late than never I guess... Read More
Art's Charts June 28, 2011 at 03:18 AM
AMGN Forms Bullish Engulfing Pattern. EMC Bounces off Support with Good Volume. NYT Outperforms the S&P 500. Plus ALTR, GILD, ISRG This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 28, 2011 at 03:13 AM
The Russell 2000 ETF (IWM) and Nasdaq 100 ETF (QQQ) exceeded their mid June highs over the last few days, but the S&P 500 ETF (SPY) remains a clear laggard as it failed to exceed its corresponding high... Read More
Art's Charts June 27, 2011 at 04:47 AM
Trading was quite volatile last week as the S&P 500 ETF (SPY) failed to hold Tuesday's gap and finished the week with a small loss. SPY gapped up and closed above 129 on Tuesday, stalled on Wednesday and then gapped down on Thursday... Read More
Art's Charts June 24, 2011 at 06:16 AM
The major index ETFs are holding their March lows and there is no change in the indicator summary. The AD Volume Lines are also testing support from the March lows. In fact, both bounced sharply this week and are now back above their March lows... Read More
Art's Charts June 24, 2011 at 04:51 AM
The battle for support from the March lows continues to rage. Stocks opened sharply lower on Thursday, remained weak and then mounted a strong afternoon rally. This rebound pushed QQQ and IWM into positive territory by the close and cut most of the losses in SPY... Read More
Art's Charts June 23, 2011 at 04:38 AM
Stocks extended their gains early Wednesday, but selling pressure hit the market in the afternoon and the major index ETFs closed weak. Some backing and filling can be expected after a sharp surge, such as that seen on Tuesday... Read More
Art's Charts June 23, 2011 at 04:25 AM
CAKE Forms Triangle after Trendline Break. KGV Breaks Bull Flag Trendline. PLCE Forms Bear Flag within Downtrend. Plus BSX, IPG, ITUB. This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 22, 2011 at 02:58 AM
Techs and small-caps led the market higher as the S&P 500 ETF (SPY) broke above short-term resistance with a big surge. Breadth was also big with the Net Advances Ratios and Net Advancing Volume Ratios exceeding .50 ($NYAD:$NYTOT,$NYUD:$NYTV,$NAAD:$NATOT,$NAUD:$NATV)... Read More
Art's Charts June 21, 2011 at 04:59 AM
On the daily chart, the S&P 500 ETF (SPY) is making a stand at support from the March low. After two spinning tops last week, the ETF opened weak and closed pretty strong. Market breadth was not that strong though... Read More
Art's Charts June 21, 2011 at 04:51 AM
A Shows Strong Upside Volume. DELL Shows Relative Strength in June. INTC Returns to the Monster Gap. Plus BA, MMM, ORCL, SYMC. This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 20, 2011 at 04:04 AM
The Greek tragedy continues to drive the markets, and for good reason. EU leaders failed to come up with a definitive plan and the Greek parliament is set for a no confidence vote Tuesday... Read More
Art's Charts June 17, 2011 at 05:44 AM
Believe it or not, there was only one downgrade to the indicator summary this week. The AD Volume Lines for the Nasdaq and NYSE broke below their March lows. Admittedly, these indicators barely broke their March lows with Wednesday's sharp decline... Read More
Art's Charts June 17, 2011 at 04:27 AM
Stocks remain way oversold and ripe for a bounce in the coming days. On the daily charts, the S&P 500 ETF (SPY) and Russell 2000 ETF (IWM) formed spinning top candlesticks as both test support from the March lows. QQQ is also testing support here... Read More
Art's Charts June 16, 2011 at 04:31 AM
The S&P 500 ETF (SPY) attempted to reverse course twice, but both surges quickly failed at 130 and the ETF moved sharply lower. Tuesday's surge was followed by a gap down on Wednesday and close below Monday's low. Blame is on Bad news (on the door step)... Read More
Art's Charts June 16, 2011 at 04:25 AM
AMZN Firms after Support Break. CHK Forms Harami with Two Inside Days. KGC Forms Bull Flag after Surge. Plus DAL, RL, UAL, UTX This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 15, 2011 at 04:37 AM
Stocks surged with a broad advance that lifted most boats. Net Advances and Net Advancing Volume on both the Nasdaq and NYSE surged as well. These breadth surges were comparable to the breadth surges seen at the mid March and mid April lows... Read More
Art's Charts June 14, 2011 at 05:05 AM
The S&P 500 ETF (SPY) remains oversold, but unable to sustain a bounce. Last week's bounce attempts failed as the ETF moved to new lows on Friday. SPY did manage to firm on Monday with a spinning top... Read More
Art's Charts June 14, 2011 at 05:00 AM
AAPL Returns to Support Zone. GMO Firms at Key Retracement. STEC Finds Support Near Large Gap. Plus DOW, LLL, WINN This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 13, 2011 at 03:00 AM
There is no change in the stock market analysis as stocks became even more oversold on Friday. The S&P 500 ETF (SPY) opened weak with a gap down and closed weak. The ETF is now down around 5.5% in the last eight days, which compares to the decline seen in March... Read More
Art's Charts June 10, 2011 at 04:20 AM
With a few more downgrades this week, the indicator summary moved to zero. The March decline was enough to turn the indicator summary negative, but this decline was a mere correction within the bigger uptrend... Read More
Art's Charts June 10, 2011 at 03:17 AM
There is no change in the analysis of the S&P 500 ETF (SPY). The ETF broke its April low and is now trying to firm around 129-130. After a 4.8% decline in six days, the ETF bounced with a feeble move above 129 on Thursday... Read More
Art's Charts June 09, 2011 at 04:41 AM
Stocks tried to firm again on Wednesday, but buying pressure remains weak or non-existent. Most of this firmness stems from less selling pressure. SPY is down around 4.8% the last six days as it moved below its April low. This makes it short-term oversold... Read More
Art's Charts June 09, 2011 at 04:36 AM
Downside Volume Increases for CB. MMM Firms at Key Retracement. TEVA Forms Bull Flag. Plus BRCM,CHK,DELL,ISRG,MMC,NBR This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 08, 2011 at 03:16 AM
When it rains, it pours. Stocks were hovering in positive territory on Tuesday afternoon, but got hit with selling pressure in the final hour. Blame is on the economic outlook from Bernanke... Read More
Art's Charts June 07, 2011 at 05:10 AM
The April lows are starting to break. The Russell 2000 ETF (IWM), S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) broke their April lows. The Dow Industrials SPDR (DIA) and the Nasdaq 100 ETF (QQQ) remain just above their April lows... Read More
Art's Charts June 07, 2011 at 05:06 AM
ATMI Firms at Key Retracement. CHRW Breaks Support. SBUX Forms Extended Triangle. Plus BIDU, PNRA, PMCS This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 06, 2011 at 04:41 AM
Stocks remain in corrective mode, but the bigger trends are still up. With a move below 131 on Friday, the S&P 500 ETF (SPY) has retraced around 62% of the March-May advance. Keep in mind that this advance forged a 52-week high, which affirms the larger uptrend... Read More
Art's Charts June 03, 2011 at 06:31 AM
When does a short-term decline extend far enough to have medium-term or long-term consequences? That is the big question right now. As far as I can tell, the May decline has yet to do enough technical damage to change the medium-term outlook (2-6 months)... Read More
Art's Charts June 03, 2011 at 04:09 AM
And now for the employment report... There is not much to do but wait for the market's reaction to the jobs number. On the daily chart, SPY is trading within a falling channel. The last reaction high formed with a hanging man and long black candlestick... Read More
Art's Charts June 02, 2011 at 05:04 AM
CVX Forms Bearish Wedge. ILMN Bucks the Selling Pressure. NVSL Forms Shooting Star. Plus ADSK, INTU, STX, XOM *********************************************** This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts June 02, 2011 at 04:33 AM
The S&P 500 ETF (SPY) surged above the wedge trendline with a four day advance and then gave it all back in one day. Wednesday's decline was broad-based with the most negative breadth since March... Read More
Art's Charts June 01, 2011 at 03:15 AM
The S&P 500 ETF (SPY) made it four in a row with a surge and trendline breakout on Tuesday. SPY opened strong, dipped intraday and surged at the close. A hanging man candlestick formed with a small body and long lower shadow... Read More
