AT&T, Disney, Pfizer, Wal-mart and Verizon Show Relative Strength within the Dow
A review of the CandleGlance charts for the thirty Dow stocks shows only five components trading above their 20-day and 50-day moving averages: AT&T, Disney, Pfizer, Wal-mart and Verizon. Four of these five can be considered defensive stocks that hold up well during times of uncertainty. Click this image to see all 30 Dow stocks....
Apple Forms Spinning Top on High Volume
Apple suffered its biggest six week decline since 2008, but signs of firmness emerged as the stock formed a spinning top at the end of last week. Spinning tops represent indecision that can sometimes foreshadow a reversal. Also note that this candlestick formed with high volume. A move above Thursday's high would complete a short-term...
SEATTLE CHARTCON 2012 – TWO DAYS IN AUGUST – 8 GREAT SPEAKERS
CHARTCON 2012 - TWO DAYS - EIGHT GREAT SPEAKERS - Don't miss out on ChartCon 2012, THE conference for all StockCharts.com users that's being held in Seattle this coming August. All of our market analysts will be presenting including John Murphy, Arthur Hill, Chip Anderson, Tom Bowley and Greg Schnell. If you want to learn...
PUBLIC CHARTLIST OF THE WEEK, PINTEREST.COM CHARTING CONTEST
BE SURE TO CHECK OUT THE PUBLIC CHARTLIST OF THE WEEK - Each week, Chip is singling out one of the Public ChartLists for recognition as the "Public ChartList of the Week." Two weeks ago it was Gary Berkley's "Simple Systems" list. This week it is Dirk Hettrich's "Broad Look to Various Markets." A new...
FOREIGN HEAD AND SHOULDER TOPS?
What really worries me about the direction of stocks is the possibility that foreign stock indexes could be tracing out two-year "head and shoulder" tops. That's true of both developed and emerging markets. Chart 1 shows EAFE iShares tracing out a textbook "H&S" top. [A head and shoulders top is identified by three peaks with...
TREMENDOUS AMOUNT OF RISK IN $INDU
An important tops looks to be in place in the Dow Industrials ($INDU) by month's end if the current pattern holds true to form. Quite simply, the $INDU is forming a bearish wedge pattern, of which rising trendline support looks to be violated in the months ahead. This probability is higher given the current bearish...
MOMENTUM IS CREATING OPPORTUNITIES – ON THE BEARISH SIDE
The long-term negative divergences that printed in February and March provided us clues that we'd at least see some near-term trepidation and possibly something much worse. Well, the "much worse" has arrived. There is no technical sign - bullish or bearish - that ever provides us a guarantee so a bit of cautious skepticism can...
BULLISH PERCENT INDEX LED MARKETS LOWER
Hello Fellow ChartWatchers! Did you follow the Facebook mania yesterday? Even if you didn't have a stake in the stock, it was still fascinating to watch the chart over the course of the day as the underwriters had to step in to prop it up. I've added a snapshot chart of the first day's action...
DOW THEORY SELL SIGNAL NOW IN FORCE
With big declines this past week, the Dow Industrials and Dow Transports both broke support levels and forged lower lows. Confirmed lower lows amount to a Dow Theory sell signal. The first chart shows the Dow Industrials forming a double top and breaking double top support with a decline below 12700 this week. Broken resistance...
CORRECTION LOW MAY BE WEEKS AWAY
The current correction is creating very oversold conditions on intermediate-term indicators, like the ITBM (breadth) and ITVM (volume). While oversold indicators often signal final price lows for a correction, extremely oversold readings are a sign that the price low for the correction probably won't arrive until weeks after the extreme indicator lows. On the chart...
SEATTLE SCU SEMINAR HAS FIVE SPOTS LEFT
OUR JUNE SCU SEMINAR IN SEATTLE IS ALMOST FULL - Our LA seminar was a huge success. Don't miss out on a full day of StockCharts training and advice. Our next event is in Seattle on June 16 and there are just five slots still open. If you are in the Seattle area this June,...
The World’s Greatest Hobby: Trading in Hawaii
I'm sitting on the lanai of a condo here at the Mauna Kea on the Big Island of Hawaii watching the sun peek above the ocean horizon, and I'm digging into the question of why a disproportionate number of my winning trades have occurred on these vacations. My journals have...
