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Small Caps and Technology Lead as Broad Market Builds Support

by Tushar Chande

The market's internals have improved since the double bottom and small cap and technology stocks are comfortably ahead of the large stock indexes on a YTD basis (see Figure 1).  This is bullish for the market as a whole, even as indexes pause to build support (see Figure 2).  The underlying trend picture has improved on an index basis (see Figure 3) and capitalization basis (see  Read More

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STOCKS TRADE SIDEWAYS BUT END WEEK SLIGHTLY HIGHER -- FALLING CRUDE OIL MADE ENERGY THE WEAKEST SECTOR

by John Murphy

UTILITIES WERE WEEK'S STRONGEST SECTOR WHILE ENERGY WAS THE WEAKEST Stocks ended the week with small gains while continuing to trade in a sideways consolidation pattern. Technology stocks showed relative strength thanks to a strong semiconductor group. So did consumer cyclicals which were led higher by apparel retailers. Transportation stocks gave the industrial sector a boost for the  Read More

Career Education (CECO) Looks Ready For Advancement

by Greg Schnell

Career Education (CECO) is breaking out above an up trending consolidation. The stock continues to push higher. The SCTR continues to hover around 75, suggesting the stock is a continuous top performer. This is a typical top performing stock configuration. Higher highs, higher lows. Ascending relative strength shown in purple is textbook for a strong performer. The daily MACD continues to be  Read More

DP Weekly Wrap: From Flag to Churn

by Carl Swenlin

Last week I thought we had a good outlook based upon a bullish flag formation, but this week the market just added more sideways movement. We could still make a case for a flag being in place, but a good flag should slant down off the flagpole as a sign that some compression is building that could launch the next leg up. This sideways churning dampens my enthusiasm. Volume continues to be light  Read More

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Two Markets Close To Basket Case Status

by Martin Pring

Commodities looking short-term toppy Copper close to a bear market signal that it may escape Oil trend is still positive but vulnerable Two markets close to a major breakdown In a global stock market of predominantly long-term bullish charts, two country funds stand out as being on the verge of completing major tops. Being on the verge and going over are of course, two different things. However  Read More

5/25 MWL Recap - Everything StockCharts - Anatomy of a Trade - Sentiment Update

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

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Weekly Market Review & Outlook - As Divided as Ever

by Arthur Hill

SPX New Highs Continue to Drag. Triangle Breakout Holds. Bulls and Bears Fight to Go Nowhere. Watching the Swing within the Wedge. IJR Holds above Breakout Zone. QQQ and XLK Form Tight Consolidations. XLF Stalls Near April High. XLI Stays Strong as XLV Hits Make-or-Break Level. Semis are Leading and Biotechs Stall after Surge. Notes from the Art's Charts ChartList. As Divided  Read More

Retail Says We're Going Higher.....Much Higher

by Tom Bowley

Market Recap for Thursday, May 24, 2018 The U.S. stock market will be closed on Monday in observance of Memorial Day.  Thanks to all of the veterans, current and past, for their service to our country.  :-) Wall Street traded much lower in the opening 90 minutes, then spent the remainder of the day trying to lessen the bearish blow.  The Dow Jones was down close to 300 points  Read More

5/24 MWL Recap - Sector Rotation - Chart Breakouts! - Turning Point

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

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APPAREL RETAILERS ARE HAVING A STRONG DAY -- TODAY'S RETAIL LEADERS ARE GAP, FOOT LOCKER, AND KOHLS

by John Murphy

APPAREL RETAILERS ARE GETTING MORE EXPENSIVE My message on Wednesday of last week showed the S&P Retail SPDR (XRT) hitting a four-month high and becoming a new market leader. Yesterday's message showed the XRT rebounding enough to stay above its recent breakout point. Retailers are continuing to show leadership today, with most of it coming from apparel retailers  Read More

Software, Internet Stocks Bounce Off 20 Day EMAs, Lead Technology Rally

by Tom Bowley

Market Recap for Wednesday, May 23, 2018 Technology (XLK, +0.74%) rallied on Wednesday to move back near two month highs and creep closer to its all-time high close.  Both software ($DJUSSW) and internet stocks ($DJUSNS) performed well to lead the rally: The green arrows highlight the rising 20 day EMAs that are currently holding as key support.  That's bullish action during uptrends  Read More

5/23 MWL Recap - Guest, David Keller on "Herding" - "Inside The Lines: Fundamentals v. TA"

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

DP Alert: Intermediate-Term Indicators Remain Bullish - Worst Could Be Over

by Erin Swenlin

It looks like I may actually have a week without a signal change on the DecisionPoint Scoreboards. Currently all trends are bullish, although momentum isn't positive in the intermediate term. The IT PMO signals are derived from the weekly PMO. The weekly PMOs are mostly flat and directionless with quite a bit of margin to cover before triggering any crossover BUY signals. Despite that, IT  Read More

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STOCK INDEXES END HIGHER AFTER HOLDING CHART SUPPORT -- DOW LEADERS ARE BOEING, INTEL, AND MICROSOFT

by John Murphy

DOW BOUNCES OFF SHORT-TERM CHART SUPPORT An early morning pullback for the Dow found support along the lows of last week before ending the day higher. That was the same story for the other major stock indexes. The black line in Chart 1 shows the Dow Industrials staying above that initial line of support. And that helped keep the May uptrend intact. Three of its  Read More

Here's A Seasonal Winner For June And July

by Tom Bowley

Market Recap for Tuesday, May 22, 2018 After early morning strength, Wall Street sellers returned and took their toll on many areas of the market, but most notably energy (XLE, -1.33%) and industrials (XLI, -1.23%).  Heavy construction ($DJUSHV) was a key casualty in the industrials after trying to reverse its recent bearish technical picture: Trendline resistance has been difficult to  Read More

Bull Flags in JP Morgan and Morgan Stanley

by Arthur Hill

I highlighted a number of bull flags in Tuesday's show (On Trend), and there were some breakouts. These breakouts, however, were not very convincing because stocks closed weak and gave back their early gains.  Today I will highlight the flags in JP Morgan (JPM) and Morgan Stanley (MS). Note that JPM is the largest holding in XLF and accounts for 11.36% of the SPDR. MS weighs in at  Read More

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Preparing for that Doh! Moment - The Triangle versus another Wedge

by Arthur Hill

The Last Thing You Expect . Another Ominous Wedge Takes Shape. $SPX-$SML Correlation is High. QQQ Shows Short-term Weakness. Regional Banks Outperform Big Banks. Highlights from On Trend. The Last Thing You Expect . is probably what will happen. Even though I cannot quantify this expression, we have all experienced such a trade. The bullish setup  Read More

5/22 MWL Recap - RRG 101 with Julius de Kempenaer - "What Would You Do?"

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

Aerospace, Transports Lead Surge In Industrials

by Tom Bowley

Market Recap for Monday, May 21, 2018 Until recently, the industrials (XLI, +1.51%) had been lagging its aggressive sector counterparts rather badly.  That has definitely changed in May and we now have all key sectors with buy signals.  Relative weakness remains in the defensive healthcare (XLV, +0.10%), consumer staples (XLP, +0.42%) and utilities (XLU, +0.51%) sectors, but that's  Read More

Can Advance Auto Parts (AAP) Put The Chart In Drive?

by Greg Schnell

Advance Auto Parts has been significantly beaten up over the last year. The last six months shows the stock building a nice base. The stocks sets up nicely here, but lets review the technicals. First of all, the SCTR shows it becoming one of the top stocks for price movement. That is a big plus as momentum investors find this stock showing up in the scans.  The Relative strength is  Read More

5/21 MWL Recap - Guest Co-Host Julius de Kempenaer - Monday Set-Ups - Earnings Spotlight

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

Hasbro Hits Stiff Resistance Zone

by Arthur Hill

I do not often highlight stocks with bearish setups during a bull market, but Hasbro shows some serious weakness over the past year and looks poised to peak again.  First and foremost, the chart shows Hasbro (HAS) hitting a 52-week low in early April and this means the long-term trend is down. Also notice that the 50-day EMA is below the 200-day EMA and price is below the falling 200-day  Read More

Commodity Volatility 2018-05-18 Video

by Greg Schnell

I posted an additional article regarding this weeks video. This is a link specific to the video. The US Dollar is working real hard against the commodity up trend, but some of the commodities cannot be suppressed. Oil, Natural Gas, Heating Oil, Gasoline, and KOL are all soaring.  I mentioned a few weeks ago that the marijuana stocks were starting to soar. Jim Cramer interviewed the Canopy  Read More

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BOEING AND CATERPILLAR LEAD INDUSTRIAL SPDR HIGHER -- THE DOW INDUSTRIALS ARE BREAKING OUT TO THE UPSIDE

by John Murphy

INDUSTRIAL SPDR IS BREAKING OUT Good news on the tariff dispute with China is giving a big lift to stocks today. While all sectors are gaining ground, the day's leader is the industrial sector. Chart 1 shows the Industrial SPDR (XLI) rising pretty decisively above a falling four-month trendline. The XLI is also trading above its mid-April peak. One of its biggest  Read More

Building a Rules-Based Trend Following Model - 10

by Greg Morris

I'm going to change the focus for a while; for my own sanity and probably for yours.  We have talked about a weight of the evidence approach and some of the indicators used in that approach.  This approach tells us when to invest in the market and how much; it also tells us what stop loss percentages to use.  We will cover the weight of the evidence levels and how the stops  Read More

Monday Trade Setup - Garmin Fills Gap, Looks To Head Higher

by Tom Bowley

Market Recap for Friday, May 18, 2018 Last week ended with plenty of bifurcation.  Strength was once again seen across the small cap universe as the S&P 600 SmallCap Index and Russell 2000 both finished the week at all-time high closing levels.  The larger cap Dow Jones and S&P 500, meanwhile, languished all week and closed well off of their respective all-time highs set  Read More

The Commodity Market Pressures Heat Up

by Greg Schnell

Well, another challenging week for Commodities investors. A sudden surge in the $USD early in the week sent gold traders reeling and industrial metals trading pondering the recent breakouts. I have shown the UUP where you can see the large gap early in the week. As the Dollar approaches resistance, this week will be filled with some volatility. On a bigger scale, the level the dollar is  Read More

Two Way Markets

by Bruce Fraser

Since 2016 the broad stock market has been in a robust uptrend. Corporations have enjoyed an environment of stable and low interest rates with moderate rates of inflation. Such a backdrop of business conditions allows companies to efficiently manage their costs and grow earnings. Investors are willing to pay higher prices for stable and steadily rising earnings and sales.  One of the  Read More

When the Market is Choppy Search for the Best of the Best

by John Hopkins

The S&P hit its all time high of 2872 on January 26, less than 4 months. ago. Two weeks later, on February 9, it touched 2532, having fallen almost 12% before recovering some. But since then the bulls have struggled to make progress with the S&P pretty much at the same level it was in early February. Though the VIX, which hit 50 on February 6, has since pulled back into the 13's  Read More

Rising Mortgage Rates Are Weighing On Homebuilders

by John Murphy

Editors Note: This article was originally published in John Murphy's Market Message on Saturday, May 18th at 9:17am EST. The first page of today's Wall Street Journal carries the headline: "Era of Ultracheap Mortgages Ends as Rates Hit 7-Year High". The article goes on to point out that rising mortgage rates might make it harder for prospective home buyers to get mortgages or be able to  Read More

Rising Treasury Yields And Dollar Completely Change Investment Themes

by Tom Bowley

There's a raging bull market going on right now, but you might not realize it if you're stuck in the S&P 500.  Take a look at the chart below of the large cap benchmark S&P 500 and its small cap counterpart, the S&P Small Cap 600: The resumption of the bull market has taken shape in the form of small caps.  I fully expect that the rest of the market will follow suit  Read More

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MORTGAGE RATES HIT A SEVEN-YEAR HIGH ALONG WITH TEN-YEAR TREASURY YIELD -- RISING MORTGAGE RATES MAY BE CONTRIBUTING TO SELLING OF HOMEBUILDING STOCKS

by John Murphy

RISING MORTGAGE RATES ARE WEIGHING ON HOMEBUILDERS The first page of today's Wall Street Journal carries the headline: "Era of Ultracheap Mortgages Ends as Rates Hit 7-Year HIgh". The article goes on to point out that rising mortgage rates might make it harder for prospective home buyers to get mortgages or be able to afford them. And that could discourage homebuying, or at least  Read More

Lumber Is Soaring - Timber?

by Greg Schnell

The continuous contract chart of $LUMBER has been on a tear recently. This week the price was almost $200 above the 40-week moving average. With a futures price of $650, that is 30% above the 40-week moving average!  While new highs are typically followed by new highs, this chart is clearly in blue-moon territory or rarified air.  StockCharts has $LUMBER data going back to  Read More

Beat the Energy sector by avoiding XOM & CVX

by Julius de Kempenaer

In the previous RRG blog, I introduced the availability of pre-populated groups holding individual equities for each of the ten S&P sectors. This addition makes it much easier for users of the Relative Rotation Graph tool on Stockcharts.com to drill down to the individual equity level from asset class and/or sector level. In this article, I want to grab the bull by the horns and zoom in on  Read More

Small-caps Lead, but Mid-caps and Large-caps Lack Leadership

by Arthur Hill

Stocks recording new 52-week highs are the leaders and a key component to broad market strength. Small-caps are doing their part with plenty of new highs, but large-caps and mid-caps are lagging in this category. The S&P Small-Cap 600 moved to a new 52-week high this week and is leading the major stock indexes. In contrast, the S&P 500 is 5.7% below its January high and the  Read More

DP Weekly Wrap: Bullish Flag Forming

by Carl Swenlin

Back in the day, options expiration days were characterized by high volatility and exceptionally high volume; however, in recent years the market stays relatively calm, and the high volume only appears at the end of each quarter. These expectations were not disappointed in today's trading. In fact, the entire week was calm, as price worked sideways into a flag formation. Volume for the last two  Read More

5/18 MWL Recap: How to Customize ChartStyles and Your Homepage - Sentiment Update (Bearish)

by Erin Swenlin

  Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. The show runs throughout the day on StockCharts TV or you can find the latest episode on the  Read More

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Steady As She Goes: Several Indicators Say The Market Is Headed Higher

by Martin Pring

Volume is offering a mixed picture Last week I pointed out that several short-term indicators, including breadth and net new high indicators, were still pointing north. One area that was not showing any strength of note was volume, in the form of the PVO for the NYSE. Chart 1 shows that this indicator, had broken to the upside, but is struggling to maintain  Read More

Small-Caps Leading the Way - Indicators for $SML Bullish

by Erin Swenlin

Small-cap stocks and indexes are quite healthy, far more than the large-cap indexes which are lagging behind. During today's MarketWatchers LIVE show and in my Wednesday "DP Alert" blog  Read More

Las Vegas Sands (LVS) Checks At Prior Highs

by Greg Schnell

The Gambling industry group has been performing well as of late. This week the chart of Las Vegas Sands (LVS) is attempting to break to new highs. Technically, the stock is performing well. The SCTR is above 75, and the Relative Strength in purple shows LVS outperforming the $SPX. The recent consolidation since the beginning of the year looks like it is just setting up for the next leg  Read More