Top Advisors Corner March 31, 2020 at 05:10 PM
In our last submission, I said that it was likely to take at least a couple more weeks to get enough data to get some clarity on the coronavirus and that, at that point, the market would likely have either begun bottoming or have overshot the mark and begun a sharp rally... Read More
Top Advisors Corner March 30, 2020 at 05:09 PM
After inside days in three of the four indices, Monday traded in an even tighter range. This made for some choppy trading conditions in the indices and many stocks. Again, we have a good technical setup as the DIA, and the Russell 2000 had inside days from Friday's trading range... Read More
Top Advisors Corner March 29, 2020 at 08:49 PM
After the past six weeks of bearishness, this market needs a pause. But, as we've seen over the last few weeks, by Monday morning anything is possible, especially after the NIH infectious disease chief, Dr... Read More
Top Advisors Corner March 27, 2020 at 07:06 PM
The market loves the stimulus from both the Banks and the Government. Or, at least, we can thank both as to why the market stopped the bleed and rallied, in some cases over 20%, off the lows... Read More
Top Advisors Corner March 26, 2020 at 05:28 PM
The Federal Reserve invented "quantitative easing," or QE, back in 2009 as a way to try to stimulate the economy out of the damage of the 2008 financial crisis. It worked! Or, perhaps I should say, it worked at lifting up the stock market... Read More
Top Advisors Corner March 26, 2020 at 02:31 PM
Hello fellow StockCharts users. China is returning to work and the economy slowly getting back to normal... Read More
Top Advisors Corner March 25, 2020 at 06:04 PM
We came into today with Transportation (IYT), Retail (XRT), Biotechnology (IBB) and the Russell 2000 (IWM) all having inside weeks. I do not mean any insult calling a Family of my creation gnomes, but, since the rally today was mythical and perhaps not real, I thought it apt... Read More
Top Advisors Corner March 25, 2020 at 02:38 PM
In my March 11th article for StockCharts, entitled "Identifying Opportunity From Fear", I pointed out that the benchmark S&P 500 (SPX) was testing formidable underlying support at 2856 to 2822 and said that, should this area be broken, it would clear the way for an additional 5% ... Read More
Top Advisors Corner March 25, 2020 at 02:26 PM
Hello fellow StockCharts users. We seem to be finally gaining some steam here in the markets, but where do we go from here? I thought I would give you a few interesting charts that I'm watching on the S&P 500... Read More
Top Advisors Corner March 25, 2020 at 01:13 PM
SPX Monitoring purposes: Long SPX on 3/23/20 at 2237.40 Monitoring purposes GOLD: Flat Long Term Trend SPX monitor purposes: Flat Today's rally produced a "Sign of Strength" both in the Advance/Decline line and the Up/Total volume indicators... Read More
Top Advisors Corner March 24, 2020 at 04:48 PM
I expected a 5-10% rally off the lows. What I did not expect was for it to happen in one day. However, the bigger question now is, is there more? Fundamentally, the problems are still very much problems. Italy's death rate continues to spiral. India shut down... Read More
Top Advisors Corner March 24, 2020 at 01:03 PM
Hello fellow StockCharts Users. Who doesn't love pizza? I know I'm a big of anything pizza-related, except the whole trend with putting pineapples on pizzas. There are few setups that are interesting to me such as Domino's (DPZ) & Papa Johns (PZZA)... Read More
Top Advisors Corner March 24, 2020 at 11:05 AM
On February 19, 2020, I was a guest on David Keller's show The Final Bar on StockCharts TV. The two charts I presented were of the SP 500 Emini which combined intraday and longer term analysis. (Please feel free to view that episode, available on the StockCharts YouTube channel... Read More
Top Advisors Corner March 23, 2020 at 05:02 PM
Rather than comment on commodities, which I hope you read in my blog about over the weekend and saw today how well they performed relative to the overall market, I want to dedicate the Modern Family to those singing, "To All the Bulls I've Loved Before... Read More
Top Advisors Corner March 23, 2020 at 11:59 AM
Hello fellow StockCharts Users. As you all know, in recent weeks, with the Coronavirus getting more severe, we have seen companies mandating their employees to work from home... Read More
Top Advisors Corner March 23, 2020 at 12:16 AM
I am hopeful. I am also ready, willing and able to buy stocks as soon as the all-clear signal is given by the markets... Read More
Top Advisors Corner March 20, 2020 at 06:49 PM
"Come up and see me sometime," are six words nobody is saying these days. The film She Done Him Wrong, was made in 1933, although it takes place in 1890 NYC. Mae West's character Lady Lou, an entertainer, receives a lot of expensive diamonds from her boss and benefactor... Read More
Top Advisors Corner March 19, 2020 at 05:17 PM
Today I asked this question on Twitter: "Can I ask a simple question-why do I see so few thinking sell opp as opposed to the hopeful mentality of this must be a bottom? Why do you think this is like Dec 2018 and not more like October 2008 or worse?" I got a lot of answers, which ... Read More
Top Advisors Corner March 19, 2020 at 04:53 PM
The term "rogue wave" applies to strangely massive waves which occur in the ocean. And the same physics appears to show up in the movements of stock prices... Read More
Top Advisors Corner March 18, 2020 at 04:50 PM
Literally, just as the circuit breakers halted the market action midday, as they have four times already this week, the "experts" were talking their..... Read More
Top Advisors Corner March 18, 2020 at 12:53 PM
SPX Monitoring purposes: Flat Monitoring purposes GOLD: Long GDX on 1/29/19 at 21.96. Long Term Trend SPX monitor purposes: Flat The above chart goes back over five years and shows the times when the 10-day TRIN reached above 1.30 (panic level) and the 5-day above 1... Read More
Top Advisors Corner March 17, 2020 at 05:23 PM
Since I did a comprehensive interview with Dale Pinkert of Forex Analytics early today, I thought you might enjoy a listen... Read More
Top Advisors Corner March 16, 2020 at 05:02 PM
The Russell 2000 (IWM)'s worst selloff ever. I was on the floor of the NY Commodities Exchanges on October 19th, 1987. At the time, high rates were partly to blame for the crash. The stock market took a year to recover... Read More
Top Advisors Corner March 16, 2020 at 02:16 PM
This post was originally written on Sunday, March 15th, 2020. No matter what, you can't go wrong with lots of cash at the moment. If the rally we saw on Friday afternoon 3/13/2020 fades, investors will be in a lot of pain in a hurry... Read More
Top Advisors Corner March 13, 2020 at 06:43 PM
Metaphor for the week: In bullfighting, there is a term called querencia, which is the spot in the ring to which the bull returns... Read More
Top Advisors Corner March 12, 2020 at 07:43 PM
Gold futures fell $52/oz on Thursday, March 12, the same day that stock prices fell 10% and everyone became worried about catching COVID-19... Read More
Top Advisors Corner March 12, 2020 at 07:22 PM
Trump said this at the White House early Thursday. Yet that is not the topic for today; rather, this post is about the FED and their attempt to calm the markets. Less talky and more action-y than Trump, in essence, the FED believes the same thing... Read More
Top Advisors Corner March 12, 2020 at 01:26 PM
Hello fellow StockCharts users. The Canadian banks are a staple in investment portfolios across Canada; could they possibly be setting up for a potential move lower? Over the weekend, we learned about the new developments that will cause disruptions in the oil markets... Read More
Top Advisors Corner March 11, 2020 at 05:32 PM
The most disturbing part of this whole market debacle is that I am getting calls from friends who have lost well more than 6 figures from their retirement accounts... Read More
Top Advisors Corner March 11, 2020 at 05:13 PM
On February 19th, the benchmark S&P 500 (SPX) had just set a new all-time high before collapsing by 538 points, or 16%, by February 28th into formidable underlying support at 2856 to 2822. This support level is highlighted in green in Chart 1 below... Read More
Top Advisors Corner March 11, 2020 at 12:45 PM
Hello fellow StockCharts users. As many of you know, there are a handful of intermarket charts and tools you can deploy to help you with uncertain times. I prefer this simple and easy chart of the SPY going back 20 years... Read More
Top Advisors Corner March 10, 2020 at 06:10 PM
Following up on the Biotechnology IBB sector, it failed the low price from two weeks ago (109.70) until headlines (below) hit the tape. Furthermore, four of the Modern Family members have broken a monthly moving average that has held since 2011... Read More
Top Advisors Corner March 09, 2020 at 12:50 PM
I last wrote about the Gold COT in January and thought it was time to take another look. As you can see from the chart below, not much has changed: Source: Software North, 3/6/20 The large specs (blue bars above) are still close to their record net long position... Read More
Top Advisors Corner March 05, 2020 at 01:10 PM
The market has put on a big VIX Index spike in early 2020, thanks to worries about the novel coronavirus and the 2020 election. While the immediate spike is overdone in the short term, it is also part of a larger uptrend in the VIX which is due to last until March 2021... Read More
Top Advisors Corner March 04, 2020 at 12:57 PM
Hello fellow StockCharts users; is your portfolio in pain? Do you need rehab from these markets? Well, this big base breakout may be interesting to you... Read More
Top Advisors Corner March 02, 2020 at 12:38 PM
Hello fellow StockCharts users! With markets free-falling and stocks pulling back to their 200-day moving averages, it may be hard to find a stock that's actually breaking out. Well here's a name that you can consider..... Read More
Top Advisors Corner March 02, 2020 at 12:31 PM
Wall Street, through various academics and theorists, has brought forth various ways to give the appearance that the future action of the market is somehow rational or predictable... Read More
