Don't Ignore This Chart

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About this blog: The blog contains daily articles with intriguing or unusual charts selected by one of our Senior Technical Analysts, along with a short explanation of what exactly caught their attention and why they believe the chart is worth noting.

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Don't Ignore This Chart

Four Days From A Buy Signal In Gold?

by Greg Schnell

The Gold chart gapped below the 200 DMA again today. This is the fourth time in the last year. However, look at the trend after the gap down below the green moving average line. Approximately one week later, Gold reversed and started a long up trend in the three previous cases. If that is going to work again, we should see a bottom formation early next week. Below is the Bullish Percent Index for the gold miners. It was starting to look very bullish by rising above 50%. We'll see if we get a pullback. I am watching closely to see if this transpires because Read More 

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Pfizer Surges within Consolidation

by Arthur Hill

The healthcare sector is coming alive on Monday and leading the broader market. As with the S&P 500, this sector struggled in 2018 and the Health Care SPDR (XLV) is up around 1.5% year-to-date. SPY, for reference, is up almost 3% this year.  The chart below shows Pfizer (PFE) with a steady uptrend until January and an erratic range since late January. The range started with a sharp decline into early February and traced out a triangle of sorts the last three months.  Despite an erratic 2018, I still think the long-term trend is up Read More 

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Lowes (LOW) Constructs A Small Base

by Greg Schnell

Lowes (LOW) perked up today. The chart shape is nice with multiple technical signals. The Relative Strength is making a minor signal with a break of the downtrend on the purple area panel. The SCTR is moving above 50 in the top panel which is ok but not great. I like it when it pushes above 75. I think what is particularly encouraging about the chart is the price was outperforming the $SPX before the big correction in the indexes. It looks poised to resume the run after moving above major horizontal support today.  The MACD is also giving us a Read More 

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BHP Billiton Mines A New High

by Greg Schnell

BHP Billiton is a global mining stock. It continues to perform well and has consolidated recently. The commodity related stocks are trying to break out here. BHP, RIO and VALE succeeded this afternoon. Below is the chart of BHP. The SCTR has moved above 75, The full stochastics are surging  and can stay above 80 for a while. Price broke out to a new high. Volume looks quiet. But the quiet volume in November to December 2017 shows the stock climbing straight up.  The PPO has just given a positive cross. This looks very bullish indeed. If I have Read More 

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Ringing the Bell for Hilton

by Arthur Hill

Hilton (HLT) led the market in the second half of 2017 and then took a breather in 2018. This is looking like the pause that refreshes as the stock challenges resistance.  First and foremost - you know the drill - the long-term trend is up and this means I am only interested in bullish setups. HLT hit a new high in January and is above the rising 200-day EMA.  The stock fell back into April as it retraced 50% of its August-January run with a falling channel. Both the retracement amount and the channel are typical for corrections within a bigger uptrend.  Read More 

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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 3-month highs which is usually a good scan to run on stocks. It will take a while to work the SCTR higher and it is a long way to the 200 DMA at $18.58. One of the main components of the SCTR is the Read More 

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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 the strongest because they have the freshest new highs. Schwab is close behind as it nears its March high. TD Ameritrade is the laggard, but the chart looks strong because a triangle is a Read More 

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Mosaic (MOS) Seems To Be Completing The Picture

by Greg Schnell

Mosaic's chart looks like an endless river of pain. So much so, why would anyone look at the stock for investment? Well, a couple of signals have kicked up that make it worthy of a second look now. First of all, the SCTR recently gave us a signal by moving above 75. Then the SCTR scaled back to 45 and moved back above the 75 level. This is a common occurrence on stocks when they start to outperform. So that is a real positive that I like to see. Full stochastics have pushed back above 50. The stock price has bounced off the 40 week moving average which is bullish. It has also formed Read More 

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Alphabet: Is it time to Bounce?

by Arthur Hill

It has been a rough year for Alphabet, also known as Google, but the stock is still in a long-term uptrend and firming near a solid support zone. This could give way to a bounce.  First, the stock advanced some 30% and hit a 52-week high in January. Second, the PPO(50,200,0) is positive and this means the 50-day EMA is above the 200-day EMA. Even though the stock is some 13% below its January high, I still think the long-term trend is up.  This year's decline occurred with three legs: down into early February, up into mid March and down Read More 

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Stryker Strikes A Fresh New High

by Greg Schnell

Stryker (SYK) pushed to new highs this week. The medical equipment maker has consolidated for the first four months. The surge to new highs comes after a strong run over the last three weeks. While the stock will probably pull back a little her, this looks like one for the watch list. The SCTR is moving above 75. The relative strength is soaring which will attract more investors. The volume has been surging lately so the interest is strong.  If it gets a little time to pull back, this looks set to continue its strong run. Good Read More 

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