Art's Charts September 30, 2014 at 05:42 AM
Stocks opened with selling pressure, but buyers stepped in after the first ten minutes and pushed stocks off their lows. Trading was then choppy the rest of the day. The major index ETFs finished with fractional losses... Read More
Art's Charts September 29, 2014 at 05:40 AM
Stocks remain bifurcated with performance deteriorating as we move down the market-cap scale. The S&P 500 is down 1% this month, the Nasdaq 100 is down .71% and the Dow Industrials is up a fraction. A 1% decline hardly qualifies as a correction... Read More
Art's Charts September 26, 2014 at 03:50 AM
Stocks were hit with broad selling pressure with the Nasdaq 100 ETF. leading the major index ETFs lower. The Technology SPDR led the sectors lower with a 2+ percent loss. Almost all industry group ETFs were down. The Gold Miners ETF managed a modest gain and gold got a bounce... Read More
Art's Charts September 25, 2014 at 07:02 AM
Stocks got an oversold bounce on Wednesday with QQQ leading the way (+1.07%). The bounces were relatively modest, but QQQ and SPY managed to hold some important short-term support levels. Materials, healthcare and consumer discretionary led the sector SPDRs higher... Read More
Art's Charts September 24, 2014 at 05:40 AM
Stocks remained under selling pressure on Tuesday with the major index ETFs recording modest losses. All sectors were down with the consumer staples, consumer discretionary and industrials sectors leading lower... Read More
Art's Charts September 23, 2014 at 06:23 AM
Stocks were hit with selling pressure on Monday with small-caps leading the way lower. Small-caps have been weak all month and simply continued this trend on Monday. All sector SPDRs were down with the consumer staples holding up the best... Read More
Art's Charts September 19, 2014 at 03:46 AM
Stocks keep chugging higher as the major index ETFs closed with modest gains. The Nasdaq 100 ETF (QQQ) led the way with a .75% gain. Among the sectors, the Finance SPDR (XLF) surged 1% and the HealthCare SPDR (XLV) advanced .74%. Both recorded new highs... Read More
Art's Charts September 18, 2014 at 06:22 AM
The Fed has come and gone, and the major index ETFs managed to hold on to small gains. Finance, industrials and materials led the sector SPDRs higher, but their gains were modest (.39% to .60%). Energy was weak as oil fell again... Read More
Art's Charts September 17, 2014 at 05:43 AM
Fed day is here and the markets will hang on every word from the Fed. Sometimes the markets even hang are words that don't appear in the Fed statement. Truth be told, I do not know what the Fed will say or do, and I do not know how the market will react... Read More
Art's Charts September 16, 2014 at 06:19 AM
Stocks started the day weak and finished weak, except for some large-caps. The Russell 2000 iShares and Nasdaq 100 ETF led the market lower with 1% declines. The Dow Diamonds and S&P 100 ETF bucked the selling pressure to finish with fractional gains... Read More
Art's Charts September 15, 2014 at 04:53 AM
It is Fed week and stocks are in corrective mode. IWM and SPY edged lower this month, while QQQ has traded flat since late August. The patterns for SPY and IWM look like falling flags, which are bullish continuation patterns... Read More
Art's Charts September 12, 2014 at 03:47 AM
Stocks were mixed on Thursday with the Russell 2000 iShares (IWM) moving higher and the Dow Diamonds (DIA) edging lower. Strength in financial services helped the Russell 2000 gain. The Regional Bank SPDR (KRE) gained .81% as the 10-YR Treasury Yield ($TNX) continued higher... Read More
Art's Charts September 11, 2014 at 06:56 AM
Stocks were slightly higher on Tuesday with the Nasdaq 100 ETF (QQQ) leading the way (+.83%). The sectors were mixed with weakness coming from energy and utilities. Energy stocks were lower as oil hit another new low for the move... Read More
Art's Charts September 10, 2014 at 06:00 AM
Stocks started the day weak and remained under selling pressure most of the day. Even though the overall declines were modest, price action was not positive and we could see more weakness... Read More
Art's Charts September 09, 2014 at 05:06 AM
It was a mixed day on Wall Street. The Nasdaq 100 ETF (QQQ) edged higher, while the S&P 500 SPDR (SPY) and Russell 2000 iShares (IWM) edged lower. The gains and losses were fractional. The Energy SPDR (XLE) was high hard as Spot Light Crude ($WTIC) fell to $92 in early trading... Read More
Art's Charts September 08, 2014 at 05:11 AM
Stocks finished the week on a strong note with modest gains on Friday. Despite this strong finish, the major index ETFs have been in trading ranges the last two weeks. A trading range or consolidation within an uptrend is typically bullish and favors a continuation higher... Read More
Art's Charts September 05, 2014 at 04:49 AM
And now for the employment report... There is nothing to do but wait for the market's reaction to non-farm payrolls on Friday morning. Given recent data, I would expect non-farm payrolls to meet or exceed expectations. On Thursday, the ISM Services Index hit 59... Read More
Art's Charts September 04, 2014 at 05:33 AM
Stocks started the month overbought and traded flat the last few days. The major index ETFs were again mixed on Wednesday with the Equal-Weight S&P 500 ETF (RSP) edging higher and the S&P 500 SPDR (SPY) edging lower. The sectors were mixed with five up and four down... Read More
Art's Charts September 03, 2014 at 05:36 AM
It was a mixed day overall, but small-caps and regional banks showed some strength. DIA and SPY edged lower, while IWM and QQQ closely slightly higher. Five of the nine sectors were up with the Finance SPDR (XLF) leading the gainers... Read More
Art's Charts September 02, 2014 at 06:29 AM
Stocks remain strong. Period. Even though IWM is underperforming SPY, it is trending higher the last four weeks and participating in the broad market advance. Note that QQQ continues to lead with a new high last week... Read More
