Don't Ignore This Chart!

Gold Stocks and ETFs Buck the Selling Pressure


Stocks were hit hard on the open of the first trading day of 2016 with the vast majority falling, and falling sharply. There were a few pockets of strength and chartists can find these using the tables on the home page (midway down). The screenshot, which was taken around 9:49AM ET, shows the NYSE and Nasdaq stocks with the biggest gains today. Notice that I clicked the "% Up" tabs to get this group. We can see that gold stocks are having a good day with Barrick (ABX), Goldcorp (GG) and Newmont (NEM) up over 3%. The second row of tables shows the SCTR "Top Up" for large-cap stocks and ETFs. These are the stocks and ETFs with the biggest gains in the StockCharts Technical Rank (SCTR). The large-cap SCTR leaders include Nokia (NOK), Pepco Holdings (POM) and Humana (HUM). The Gold Explorers ETF (GLDX) and the Comex Gold Trust (IAU) are getting big moves in their SCTRs. Before leaving these tables, notice the PerfChart, CandleGlance and RRG links at the bottom. Click these to see all ten symbols in the corresponding format. It is an easy way to quickly compare the ten symbols. 

Thanks for tuning in and have a good day!
--Arthur Hill CMT

Plan your Trade and Trade your Plan

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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