Don't Ignore This Chart!

December 2009

Don't Ignore This Chart!

Techs lead the way

by Arthur Hill

The technology sector has led the market higher over the last 10 days. Using the slider at the bottom, the Sector Market Carpet is set to show price performance over the last 10 days. Technology is the greenest of the nine sectors - followed by materials, energy and financials... Read More 

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Sector winners for 2009

by Arthur Hill

All sectors were up for the year, but some were up more than others. In fact, of the nine sectors, only three outperformed the S&P 500 over the last 12 months: consumer discretionary, technology and materials... Read More 

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December is for Dollars

by Arthur Hill

The Perfchart below shows the DB Dollar Bullish ETF (UUP) with nine other currency ETFs. Even though the Dollar is still down for the year, it is up around 4% for December. The Euro and Yen, which represent our two biggest trading partners, are down the most... Read More 

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Shanghai leading at yearend

by Arthur Hill

Even though year has a few days left, the Shanghai Composite ($SSEC) is one of the top performing indices in 2009. The Perfchart below compares the performance of this Chinese index against six other major indices... Read More 

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Glancing at the sectors

by Arthur Hill

The CandleGlance sector page provides an easy means to see all eight Sector SPDRs on one page. One can identify sectors hitting new highs (leading) and sector trading below their prior highs (lagging). CandleGlance groups are also good candlestick spotting... Read More 

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10 Most Active Perfchart

by Arthur Hill

The Free Charting Tools page shows the most active lists on the left side. There is a Perfchart link at the bottom of each list that will show the 10 most actives together. Over the last 200-day days, Ford (F) is the big winner with a gain in excess of 400%... Read More 

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Dynamic yield curve remains steep

by Arthur Hill

As the dynamic yield curve shows, the Treasury yield curve remains inordinately steep. The 3-month T-Bill Rate ($IRX) is around .50% and the 30-year Treasury Yield ($TYX) is currently around 4.6%. Long-term rates are nine times higher than short-term rates... Read More 

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Semis lead Nasdaq higher

by Arthur Hill

The Santa Claus rally got off to a good start with the Semiconductors HOLDRS (SMH) leading the way higher. SMH broke flag resistance with a surge over the last two days. Also notice that semis are outperforming the broader market as the price relative moved higher in December... Read More 

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10-Year Treasury Yield hits resistance

by Arthur Hill

The 10-Year Treasury Yield ($TNX) broke above the August trendline with a surge in December. Because bonds moving opposite of yields, this corresponds to a sharp decline in US Treasury Bonds... Read More 

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GE bucks the market

by Arthur Hill

All of the major stock indices were down Thursday afternoon, but General Electric (GE) was bucking the downdraft with a modest gain. The stock opened weak, but rallied above its prior high in the afternoon... Read More 

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A tough December for energy and gold

by Arthur Hill

The Commodity Groups Perfchart shows the GS Precious Metals Index ($GPX) and the GS Energy Index ($GJX) are both down over 6% so far this month... Read More 

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Euro breaks November low

by Arthur Hill

The Euro ETF (FXE) extended its decline this week and broke below its November low. FXE has been under intense selling pressure since the big plunge below 150 two weeks ago. In fact, selling pressure has been so intense that it looks like a medium-term downtrend has started... Read More 

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Divergences fail to deter the Dow

by Arthur Hill

Despite numerous bearish divergences in MACD since August, the Dow continues pushing to new highs. With today's close above 10500, the Dow hit another 52-week closing high today... Read More 

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NYSE AD Line hits new high

by Arthur Hill

Don't look now, but the NYSE AD Line hit a new 52-week high this week. The AD Line is a cumulative measure of Net Advances (advances less declines). It rises when there are more advances and falls when there are more declines... Read More 

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Citrix finds support

by Arthur Hill

After a gap and sharp decline in October, Citrix (CTXS) found support near its resistance breakout (~37). Bounces in early November and early December confirm support in the 37-38 area... Read More 

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AOL finishes with a bang

by Arthur Hill

AOL Inc (AOL/WI) returned to the big board after a nine year hiatus. The stock was already trading "when issued" (WI) before today... Read More 

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Marriott forms harami at resistance

by Arthur Hill

For the second time in four weeks, Marriott (MAR) formed a bearish harami. The first harami marked a reaction high just below 28. This second harami formed around 27 for a possible lower high... Read More 

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XLU forges a 52-week high

by Arthur Hill

Seven of the nine sector SPDRs recorded new 52-week highs in November or December. Among those, the Utilities SPDR (XLU) broke resistance from its 2009 highs with a surge above 31 this month... Read More 

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Short-term rates fall sharply

by Arthur Hill

The US Treasury Yield Perfchart shows yields falling since early August. In particular, short-term rates (green line) have fallen sharply in the last three months. Treasuries rise when rates fall so these declines suggest money moving into Treasuries... Read More 

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Renko charts filter the noise

by Arthur Hill

The chart below shows a Renko chart for the S&P 500 ETF (SPY). Like Point & Figure, these charts focus on price action, independent of time. Notice that the first half of the chart extends from late October 2008 to early March 2009... Read More 

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Airlines go from lagging to leading

by Arthur Hill

After underperforming the S&P 500 in October, the Amex Airline Index ($XAL) reversed course to become a leader in November. This leadership role picked up steam the last three days as XAL broke above consolidation resistance... Read More 

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Japan lags Europe and China

by Arthur Hill

The US and European markets bottomed in early July and have been moving higher the last five months. These indices are up 18-23% since early July. The Shanghai Composite ($SSEC) is also up, but less than 5% and lagging the US and Europe... Read More