Don't Ignore This Chart!

September 2013

Don't Ignore This Chart!

Top Up and Top Down SCTRs Highlight the Big Movers

by Arthur Hill

Looking for the relative movers and shakers in the market? Look no further than the StockCharts Technical Rank (SCTR) on the StockCharts home page. These tables can be found mid way down the home page... Read More 

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A September Surprise in Inter-market Correlations

by Arthur Hill

The PerfChart below shows six inter-market related ETFs. Notice that stocks are up with the Russell 2000 ETF (IWM) leading the way (blue). Bonds are also up for the month and this is strange because stocks and bonds are usually negatively correlated... Read More 

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A September Surprise in Inter-market Correlations (video)

by Arthur Hill

The PerfChart below shows six inter-market related ETFs. Notice that stocks are up with the Russell 2000 ETF (IWM) leading the way (blue). Bonds are also up for the month and this is strange because stocks and bonds are usually negatively correlated... Read More 

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Autozone Breaks Out of Bollinger Band Contraction (video)

by Arthur Hill

Autozone (AZO) surged off support and broke above the upper Bollinger Band with big volume on Wednesday. I found this stock because it made the predefined scans list (intraday). This move affirms support and opens the door for a continuation of the bigger uptrend... Read More 

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Netflix Hits New High, but Forms Bearish Reversal Pattern (video)

by Arthur Hill

Netflix opened at a new on Monday, but selling pressure quickly took hold and drove prices below 203 by the close. This intraday reversal forged a bearish engulfing pattern just above first support... Read More 

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JP Morgan Traces out Bearish Reversal Pattern (video)

by Arthur Hill

JP Morgan (JPM) broke short term support with a sharp decline on Monday. With a lower high taking shape, the stock is forming a larger head-and-shoulders reversal over the last few months... Read More 

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Two Year Yield Gets Hit Hard on Fed Taper Change

by Arthur Hill

The Treasury market was thrown for a loop this week as the Fed unexpectedly decided not the taper. The chart below shows the 2-Year Treasury Yield ($UST2Y) bearing the brunt of this "adjustment". Notice how the yield advanced as tapering talk took hold from April to August... Read More 

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Regional Bank SPDR Breaks Flag Trend Line (video)

by Arthur Hill

The Regional Bank SPDR (KRE) perked up with a bounce above 36 on Tuesday, but gave it back with a sharp decline on Wednesday-Thursday. Broken support and the late August gap ultimately held as resistance. The flag break signals a continuation lower... Read More 

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Falling Dollar Boosts Commodities

by Arthur Hill

The Dollar fell sharply on Wednesday and this provided a big boost to precious metals, copper and oil. The screen shot below comes from the Intraday Market Summary Page. The Silver Trust (SLV) led precious metals with a 6.44% surge... Read More 

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Most Active Stocks Power the Nasdaq Higher

by Arthur Hill

The Nasdaq is moving higher with eight of the ten most active stocks advancing. DELL and QQQ are also up, but I am leaving them out of the top ten. Facebook (FB) is leading the charge with a 5+ percent gain, and Intel is up over 1.5% on the day... Read More 

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Six Sector SPDRs Record Multi-year Highs

by Arthur Hill

The screenshot below comes from the Predefined Technical Alerts Summary. There is a lot of strength in the stock market with the Russell 2000 and Nasdaq hitting multi-year highs... Read More 

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Intel Breaks Out with Second Gap in Two Weeks

by Arthur Hill

Intel is on the move with its second gap of the month. Intel started September strong with a small gap and surge above 22.50. After a small three day pullback this week, the stock continued higher again with a gap above 23... Read More 

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XLY, XLF and XLI Lead the Sectors in September

by Arthur Hill

It has been a good month for eight of the nine sectors. Eight of the nine are up month-to-date with the Consumer Discretionary SPDR (XLY), Industrials SPDR (XLI) and Finance SPDR (XLF) among the leaders... Read More 

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S&P 1500 AD Line Breaks Short-Term Resistance

by Arthur Hill

The video and chart below shows the AD Line for the S&P 1500 breaking above its mid August highs with a surge the last few days. This move appears to have ended the short-term downtrend that began in early August... Read More 

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Finance SPDR Breaks Key Trend Line

by Arthur Hill

The Finance SPDR (XLF) is starting to perform with a nice surge over the last two weeks. Notice how the ETF broke the August trend line and filled the late August gap to signal an end to the current correction. The Vortex Indicators confirmed as +VI moved above –VI... Read More 

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In Honor of Joe Granville; Volume May Lead Price for BAC

by Arthur Hill

Bank of America (BAC) hit a 52-week high in late July and then corrected with a falling flag or channel the last five weeks. Despite this correction, the indicator window shows On Balance Volume (OBV) remaining strong and hitting a new high last week... Read More 

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Walgreen Forms Inverse Head-and-shoulders Pattern

by Arthur Hill

After a big surge from November to May, Walgreen (WAG) consolidated with an inverse head-and-shoulders pattern. This version of the head-and-shoulders is a bullish continuation pattern. Also notice that the pattern from mid June to September looks like a cup-with-handle... Read More 

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Steel ETF Challenges 200-day Moving Average

by Arthur Hill

The Steel ETF (SLX) is making some noise with a break above the flag trend line and challenge to the 200-day SMA. This moving average flattened just below resistance, which extends back to the May highs... Read More 

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Altera Leads Semis with Rim Breakout

by Arthur Hill

Altera (ALTR) is showing upside leadership with a breakout and 52-week high on good volume. Overall, the pattern at work looks like a cup-with-handle, which is a bullish pattern. The rim breakout completes the pattern and argues for higher prices... Read More 

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Utilities SPDR Breaks Pennant Support

by Arthur Hill

The Utilities SPDR (XLU) broke down as the 10-year Treasury Yield ($TNX) moved back above 2.8% on Monday. XLU was already in a downtrend after the lower high in July and mid August breakdown... Read More