Art's Charts April 30, 2012 at 02:46 AM
The short-term trend for stocks changed with Wednesday's gap and breakout. The medium-term and long-term trends were already up. This means that all three trends are up again and we could see a challenge to the March highs... Read More
Art's Charts April 27, 2012 at 05:46 AM
A couple of indicators flipped this week, but the net result is the same as the indicator summary remains at +7. The Nasdaq AD Line shows too much weakness to be considered bullish, but it is offset by strength in the NYSE AD Line... Read More
Art's Charts April 27, 2012 at 04:27 AM
The island reversals, up gaps and breakouts are holding. QQQ formed a lower low early this week, but IWM and SPY held above their early April lows. In fact, the recovery after Monday's gap down was so swift that I am going to draw my trendlines right through it... Read More
Art's Charts April 26, 2012 at 05:16 AM
The Fed made another policy statement with little change in its outlook or wording. Apple produced another blow out quarter. Even though neither event produced a surprise, Apple's coattails provided a big lift for the market overall... Read More
Art's Charts April 26, 2012 at 05:12 AM
Careful out there. It is earnings season. AMT Breaks Out to 52-week High. DELL Hits Key Retracement. SLM Forms Small Descending Triangle. Plus AMZN, ATVI, FDX, IGT, TER, UTX. This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts April 25, 2012 at 04:38 AM
Apple is stoking the street with a big move after reporting earnings. While a strong open is expected, what happens after the open, and after the Fed statement, is more important. Actually, I think Thursday's price action will hold the key to the next move in stocks... Read More
Art's Charts April 24, 2012 at 04:59 AM
Stocks are short-term oversold, it is turnaround Tuesday, Apple reports earnings today and the bigger trend (6 months) remains up. On top of all this, traders will also be gearing up for the start of the Fed meeting today and policy statement on Wednesday (12:30PM)... Read More
Art's Charts April 24, 2012 at 04:55 AM
APD Breaks Rising Flag Support. AZO Forms Pennant with Strong Up Volume. LXK Forms Bullish Engulfing on Big Volume. Plus AMX, ANF, APD, COH This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts April 23, 2012 at 05:12 AM
Stocks look heavy as selling pressure hit Friday afternoon and remains early Monday. $SPX futures are down around 10 points in early trading (5AM ET). Bonds and the Dollar are up, while gold and oil are down... Read More
Art's Charts April 20, 2012 at 05:00 AM
The indicator summary dipped to +7 this week after two downgrades. The bulk of the evidence is still bullish, but a few indicators weakened with the April decline. The NYSE AD Line and AD Volume Line briefly broke their March lows... Read More
Art's Charts April 20, 2012 at 03:48 AM
Stocks weakened over the last two days as IWM broke its rising flag trendline and SPY tested its rising flag trendline. QQQ remains in a downtrend as Apple continues to weigh... Read More
Art's Charts April 19, 2012 at 04:37 AM
The moment of truth is drawing near. After a bounce the prior five days, the major index ETFs consolidated on Wednesday. DIA and SPY formed inside days to signal short-term indecision. Also note that rising flag patterns formed in DIA, SPY and IWM... Read More
Art's Charts April 19, 2012 at 04:30 AM
Careful out there. It is earnings season. AMAT Consolidates in Key Retracement Zone. GRMN Forms Flat Flag after Breakdown. STT Breaks Short-term Resistance with Volume. Plus HRB and HUM. This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts April 18, 2012 at 04:28 AM
Stocks surged with the oversold Nasdaq 100 ETF (QQQ) leading the major index ETFs higher on Tuesday. What is it about Tuesdays and turnarounds? All sectors were up with technology, industrials and energy leading the charge... Read More
Art's Charts April 17, 2012 at 05:25 AM
The short-term trends for the major index ETFs may be down, but the medium-term and long-term trends are still up. Keep this in mind before getting too bearish... Read More
Art's Charts April 17, 2012 at 05:17 AM
Careful out there. It is earnings season. AKS Forms Two Inside Days. TRV Forms Falling Flag after Breakout. UAL Surges on Higher Volume. Plus DNR, GGP, LLY, ORCL, WM This commentary and charts-of-interest are designed to stimulate thinking... Read More
Art's Charts April 16, 2012 at 05:00 AM
There were some trend changes over the last two weeks and some trend extensions. Most notably, stocks reversed their uptrends and the Dollar reversed its downtrend... Read More
