ChartWatchers

November 2007

ChartWatchers

DON'T GIVE UP, BULLS!

by Chip Anderson

There has been clear technical damage on the major indices as a result of concerted selling. The NASDAQ 100, which has led the market higher for most of 2007, has been treated rather rudely over these past few weeks and that's never good... Read More 

ChartWatchers

IWM FORMS BIG DOUBLE TOP

by Chip Anderson

The Russell 2000 ETF (IWM) shows the beginnings of long-term downtrend. In stark contrast to QQQQ, IWM forged a lower low in August and a lower high in October. The inability to move above the summer highs showed relative weakness on the way up... Read More 

ChartWatchers

MARKET ENTERING OVERSOLD RANGE

by Chip Anderson

Two weeks ago I stated that market strength was mixed, and that I thought that the correction had several more weeks to go before it was over... Read More 

ChartWatchers

BEWARE THE ETF "TRAP"

by Chip Anderson

Hello Fellow ChartWatchers! Last month I had the pleasure of sitting in on several local Technical Analaysis User Groups and seeing how they used many different tools to do group stock analysis... Read More 

ChartWatchers

NET NEW HIGHS ARE DRAGGING

by Chip Anderson

Even though the Nasdaq and the NY Composite hit new closing highs earlier this week, Net New Highs did not keep pace and this could become a problem. Net New Highs equals new 52-week highs less new 52-week lows... Read More 

ChartWatchers

MIXED MARKET

by Chip Anderson

Two weeks ago I stated that a correction had begun, and that the initial selling had resulted in an initiation climax – a technical condition that indicated that the initial down pressure was probably near exhaustion, but that signaled the beginning of a new down trend... Read More 

ChartWatchers

GOLD MARKET SOARING HIGH

by Chip Anderson

The bull market in commodity has extended beyond what many had believed it would in such a short period of time; be it crude oil prices or gold prices or even wheat prices - the bull market has surprised in its violence... Read More 

ChartWatchers

BEAR MARKET IN BANKS

by Chip Anderson

Earlier today I showed the Bank Index on the verge of hitting a new low for the year. By day's end, it had fallen to the lowest level in two years (Chart 1). This puts the BKX on track to challenge its 2005 low... Read More 

ChartWatchers

JUST CHECKING IN

by Chip Anderson

Hello Fellow ChartWatchers! I'm pretty busy this weekend and just have time to mention the following things: We've just released John Murphy's entire 2006 collection of articles in CD-ROM format... Read More