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IWM and SPY Go Separate Ways

by Arthur Hill

The Russell 2000 ETF (IWM) and the S&P 500 ETF (SPY) parted ways over the last few weeks. IWM peaked in early July and zigzagged lower. SPY, in contrast, zigzagged higher with a move above the mid July high. This divergence means small-caps are showing relative weakness... Read More 

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Technology Stocks Lead Market Lower on Sector Carpet

by Arthur Hill

Stocks were weak on Monday with the Technology Sector (XLK) leading the market down. The average loss for a technology stock was .70 percent. Citrix (CTXS) was the big loser with a decline of 6.09%. The Consumer Discretionary SPDR (XLY) was also showing weakness... Read More 

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S&P 500 Bounces off Bullish Support Line on P&F Chart

by Arthur Hill

With a big surge above 1350 today, the S&P 500 reversed its falling O-Column and started a rising X-Column on the P&F chart. This reversal creates support from the prior two O-Columns and the rising Bullish Support Line (blue)... Read More 

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Hindenburg Omen Almost Triggers as New Lows Surge

by Arthur Hill

This blog entry has been updated to reflect new information. The Hindenburg omen almost triggered on July 23rd. First, notice that new highs and news lows as a percentage of total issues surged above 2.8%. Second, notice that new highs were less twice the number of new lows... Read More 

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New Lows Expand on the Technical Indicator Scan

by Arthur Hill

The image below comes from the predefined scans page. New highs were outpacking new lows earlier this month, but the tide is shifting as new lows expand on the NYSE and Nasdaq... Read More 

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Rising Yen Weighs on Japanese Stocks

by Arthur Hill

With the market shifting to risk-off mode the last few days, the Yen ETF (FXY) broke above trend line resistance. The Yen has been moving higher since early July and the Nikkei 225 ($NIKK) has been moving lower... Read More 

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Dow Industrials SPDR Forms a Doji near Resistance

by Arthur Hill

After a four day surge that carried the Dow Industrials SPDR (DIA) above 129, the ETF formed a doji to signal indecision on Thursday. Also notice that DIA formed indecisive candlesticks at the prior two peaks... Read More 

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Finance SPDR Looks A Little Sick as the Price Relative Breaks Support

by Arthur Hill

The Finance SPDR (XLF) led the market higher from early June to mid July, but stalled the last four days and started showing relative weakness. The indicator window shows the price relative (XLF:SPY ratio)... Read More 

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Technology Sector Lights up the Sector Carpet

by Arthur Hill

Stocks moved higher with the technology sector leading the charge on Wednesday. The Sector Carpet shows lots of green in this key sector. Also notice that four of the top five performers come from technology... Read More 

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An Inverse Head-and-Shoulders Develops for Halliburton

by Arthur Hill

With oil bouncing over the last few weeks, Halliburton is tracing out a little head-and-shoulders bottom. Despite a potentially bullish pattern, the stock remains short of the breakout needed to confirm a reversal... Read More 

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QQQ Lags the other Major index ETFs - IWM Leads

by Arthur Hill

The stock market bottomed on June 4th and moved higher the last 5-6 weeks. All major index ETFs are up since June 4th, but the Nasdaq 100 ETF (QQQ) sports the smallest gain. The PerfChart below shows QQQ up 2.8% and the rest up 4% or more. Note that IWM is up a whopping 7... Read More 

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Defensive Sectors Keeping the S&P 500 Positive

by Arthur Hill

The Sector PerfChart shows the percentage change for the S&P 500 and the nine sector SPDRs over the past month (22 trading days). Note that the S&P 500 is up, but the Consumer Discretionary SPDR (XLY), Technology SPDR (XLK) and Industrials SPDR (XLI) are down... Read More 

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Sector Summary Shows the Clothing & Accessories Index Leading the Consumer Discretionary Sector Lower

by Arthur Hill

The Consumer Discretionary SPDR (XLY) is one of the weakest sectors on Wednesday. Drilling down into the sector reveals weakness in apparel stocks. True Religion (TRLG) is down over 5%, while Polo Ralph Lauren (RL) and Warnaco (WRC) are down around 4%... Read More 

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DIA Fails in Gap Zone as Long Black Candlestick Forms

by Arthur Hill

The Dow Industrials SPDR (DIA) formed a harami last week and then gapped down on Friday. This gap below 128 held as the ETF opened near 128 and then closed below 127 on Tuesday. Short-term, the bulls need to fill this gap... Read More 

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Watch the Yen ETF for Clues on the S&P 500

by Arthur Hill

The Yen ETF (FXY) and the S&P 500 have been moving opposite each other for the last 6-7 months. This is because the Yen represents a safe-haven (risk-off) and the S&P 500 represents a risky asset (risk on). Accordingly, FXY broke down in June and $SPX moved higher... Read More 

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KLA-Tencor Holds the Gap $KLAC

by Arthur Hill

KLA-Tencor (KLA) has an island reversal of sorts working the last three weeks. Notice how the stock gapped down in mid June and then back up in late June. Since gapping higher last week, the stock consolidated the last four days... Read More 

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TSX Composite Surges off Long-term Support

by Arthur Hill

The big trend is down since early 2011 and a big head-and-shoulders could be forming, but, for now, the TSX Composite is showing life with a surge off support that extends all the way back to early 2010... Read More 

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NYSE AD Line Shows Strength with New High

by Arthur Hill

Even though the NY Composite ($NYA) remains below its prior highs, the NYSE AD Line hit a new high this week and shows underlying strength. Advance-decline numbers measure the internal strength or weakness within an index... Read More