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Archived News

Some Good News On The Canadian Front

by Greg Schnell

The Canadian market has been underperforming for a while. This week some clues of change started to show up. First of all, for the first time since 2016 the Canadian market broke a downtrend compared to the $SPX. Obviously, it is just barely breaking a downtrend, not turning higher yet. However, you can see on the left side of the chart, that when Canada outperformed for the first decade this  Read More

General Electric (GE) Tries To Change The Trend

by Greg Schnell

General Electric (GE) is base building as we roll into May. The plummeting stock has stopped its free-fall and has now built a small head shoulders setup. Head and shoulders refers to a changing trend. The momentum is improving on each low and the stock starts to make higher lows which shows up as two shoulders around the low. The SCTR still is very low. The Relative Strength is very close to  Read More

Gains Moderate, But Relative Strength Felt In Key Areas

by Tom Bowley

Market Recap for Monday, May 7, 2018 There was plenty of green on Monday, adding to the gains we saw late last week.  The only areas of the market that struggled were the defensive consumer staples (XLP, -0.62%) and utilities (XLU, -0.52%).  On the flip side, money rotated once again to the more aggressive sectors - technology (+0.70%), financials (XLF, +0.66%), industrials (XLI  Read More

DP Bulletin #1: Short-Term PMO BUY Signal Logged on Dow Industrials

by Erin Swenlin

All four Scoreboard indexes have PMO BUY signals as of today. The Dow was the laggard, but between Friday's and today's rallies, momentum has shifted enough to push the PMO over its signal line. While we do have a PMO BUY signal, I'm not impressed with the daily chart for the Dow. The declining tops trendline was not broken today so the bearish descending triangle remains intact.    Read More

Commodity Countries Surge 2018-05-04 Video

by Greg Schnell

Commodity Countries Canada and Australia charts both start to surge this week with Canada making a new three month high. Australia. When compared to the $SPX, we can see that commodity countries are starting to take the lead on the very short term. It's been a long time since they have outperformed. Below is the $SPX. It would need to rally 100 points to get back to three month highs. However  Read More

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Buy In May And Say Hooray?

by Martin Pring

Sell in May does not have a great track record Technology continues to outpace staples, and that's bullish Technology, consumer cyclicals and REITS are well positioned for a rally Sell in May does not have a great track record If there is a seasonal saying that seems ubiquitous at this time of the year it's "Sell in May and Go Away". If you don't believe me, try doing a search  Read More

5/7 MWL Recap - Monday Set-Ups - Earnings Spotlight - DecisionPoint Report

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

Discount Brokers Lead the Market

by Arthur Hill

The discount brokers are showing strength in the broader market with E-Trade Financial (ETFC) and Interactive Brokers (IBKR) hitting new highs in May. Schwab (SCHW) is breaking out of a small triangle, while TD Ameritrade is bouncing within a bigger triangle. A picture is worth a thousand words and the chart below shows all four with some annotations.  E-Trade and Interactive Brokers are  Read More

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Breadth Thrust Shows Expanding Participation - SOXX Surges off Support - A Bunch of Stock Setups

by Arthur Hill

One-Day Breadth Thrust. SOXX Surges off Support. Four Semiconductor Stocks to Watch. A Bollinger Band Squeeze for Akamai. Five Stocks to Watch: ABT, ACN, ANTM, HCA, SLB. One-Day Breadth Thrust As noted last Thursday, I was not impressed with the breadth indicators because they showed narrow upside participation. This changed on Friday with one-day breadth thrusts in the  Read More

Jobs Come Up Short, But Technology And Consumer Stocks Surge

by Tom Bowley

Market Recap for Friday, May 4, 2018 For many weeks, we've seen the stock market seemingly ignore great earnings news and retreat.  Highly visible companies like Boeing (BA), Caterpillar (CAT), Intel (INTC) and Microsoft (MSFT) gained initially after blowout earnings, then stumbled after traders attempted to figure out where the after-earnings, "sell on the news" psyche might end.  Read More

5/4 MWL Recap - Everything StockCharts - Chart Breakouts - 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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MESSAGE FROM FEBRUARY PUT CURRENT TRIANGULAR FORMATION IN ELLIOTT WAVE CONTEXT -- TRIANGLES NORMALLY HAVE FIVE WAVES WITH THREE PULLBACKS

by John Murphy

FEBRUARY MESSAGE SUGGESTED THAT TRIANGULAR FORMATION WAS LIKELY Everyone is talking about the triangular formation that the stock market has been forming over the last three months. It's important that the situation leading up to that formation be understood, as well as its meaning. My February 21 Market Message put the current consolidation in an "Elliott Wave"  Read More

Rising Dollar Should Change Your Investment Strategy

by Tom Bowley

Throughout 2017 the U.S. Dollar Index ($USD) was falling and aiding profits on multinational companies found on the S&P 500.  But it was time for the dollar to rise, as evidenced by a surging U.S. 10 year treasury yield ($UST10Y) vs. Germany's 10 year treasury yield ($DET10Y).  Check out this chart: I anticipated the dollar strength back in my February 28, 2018 Trading Places  Read More

Climactic Breadth Readings: Buying Exhaustion or Initiation? - Whipsaw BUY Signal for SPX

by Erin Swenlin

The SPX whipsawed into a Price Momentum Oscillator (PMO) BUY signal, suggesting a short-term rally is up next. Climactic breadth indicators popped on Friday and the VIX penetrated the upper Bollinger Band. When I see these types of readings, I classify them as a buying exhaustion or buying initiation.  Below you can see in the thumbnail that the PMO triggered a SELL signal on Thursday, but  Read More

Toys Are Starting To Surge Again

by Greg Schnell

The toy business has been in a massive uptrend if you are in the right stocks. It is a fickle business group as they seem to treat the shares aggressively. Buy the good ones quickly, sell the weak ones even faster.  This week, Activision (ATVI) closed above 5-week highs on the strongest positive volume in a year. This stock seems to give one full stochastic signal a year, and it just  Read More

The Bird's Eye View: Big Advances Deserve Big Corrections

by Arthur Hill

2018 has been a tough year for stocks with the S&P 500 SPDR (SPY) basically unchanged (+.08%) for the year. During this journey to unchanged, SPY was up around 7% at its late January high and down around 5% at its February low. The index has since gyrated within the range set from this high and low.  The chart below shows this year's price action with a large triangle taking shape as  Read More

Stocks Are Ending The Week On a Strong Note

by John Murphy

Editor's Note: This article was originally published in John Murphy's Market Message on Friday, May 4th at 3:50pm EST STOCKS REBOUND OFF 200-DAY LINES Chart 1 shows the Dow surging more than 300 points after surviving another test of its 200-day average yesterday. Chart 2 shows the S&P 500 doing just as well. Both indexes still need to exceed their 50-day average  Read More

Profiting from Weak Earnings

by John Hopkins

Analysts will tell you that this earnings season has been a great success. In fact, many companies exceeded earnings expectations and were handsomely rewarded by the market. However, there were also plenty of companies that missed earnings expectations and/or provided worse than expected guidance, taking those stocks lower, and some very substantially. For example, take a look at the chart  Read More

Does This Market Have Bad Breadth?

by Bruce Fraser

The percentage of stocks above their 200 day moving average (200dma) is a breadth indicator that I have depended on for many years. It theoretically oscillates from zero to 100 percent. During bull markets this oscillator spends most of its time between 40% and 85%. During bear markets between 60% and 5%.  We chartists pay close attention to the position of our stocks to the 200dma. I seek  Read More