Stocks finished mixed on Monday with the Russell 2000 ETF (IWM) falling .05% and the S&P 500 ETF (SPY) rising .16%. The sectors were also mixed with relatively small moves, excluding the Consumer Staples SPDR (XLP), which surged 1.31% and hit a new high. Semis rebounded with the MarketVectors Semiconductor ETF (SMH) rising .47% on the heels of a three day high-volume advance from Intel. Big money appears to be gravitating back to Intel. The Regional Bank SPDR (KRE) also stood out a bit with a modest gain and 52-week high. Apple reported a strong quarter after the close and sold off a bit after hours (buy-the-rumor and sell-the-news). Earnings season remains in full swing and the economic reporting week will be heavy. Retail Sales, one of the most important reports, will be released today before the open.
**This chart analysis is for educational purposes only, and should not
be construed as a recommendation to buy, sell or sell-short said securities**
**This chart analysis is for educational purposes only, and should not
be construed as a recommendation to buy, sell or sell-short said securities**
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Key Reports and Events (all times Eastern):
Tue - Oct 29 - 08:30 - Retail Sales
Tue - Oct 29 - 08:30 - Producer Price Index (PPI)
Tue - Oct 29 - 09:00 - Case-Shiller 20-city Index
Tue - Oct 29 - 10:00 - Consumer Confidence
Wed - Oct 30 - 07:00 - MBA Mortgage Index
Wed - Oct 30 - 08:15 - ADP Employment Report
Wed - Oct 30 - 08:30 - Consumer Price Index (CPI)
Wed - Oct 30 - 10:30 - Crude Oil Inventories
Wed - Oct 30 - 14:15 - FOMC Policy Statement
Thu - Oct 31 - 07:30 - Challenger Job Report
Thu - Oct 31 - 08:30 - Initial Jobless Claims
Thu - Oct 31 - 09:45 - Chicago PMI
Thu - Oct 31 - 10:30 - Natural Gas Inventories
Fri - Nov 01 - 10:00 - ISM Manufacturing Index
Fri - Nov 01 - 14:00 - Auto Sales/Truck Sales
Charts of Interest: Tuesday and Thursday
This commentary and charts-of-interest are designed to stimulate thinking. This analysis is
not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise).
We all need to think for ourselves when it comes to trading our own accounts. First, it is
the only way to really learn. Second, we are the only ones responsible for our decisions.
Think of these charts as food for further analysis. Before making a trade, it is important
to have a plan. Plan the trade and trade the plan. Among other things, this includes setting
a trigger level, a target area and a stop-loss level. It is also important to plan for three
possible price movements: advance, decline or sideways. Have a plan for all three scenarios
BEFORE making the trade. Consider possible holding times. And finally, look at overall market
conditions and sector/industry performance.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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