WEEKLY RECAP SHOWS MATERIALS AND FINANCIALS LEADING MARKET HIGHER, WHILE TECHNOLOGY AND UTILITIES LAG BEHIND

MATERIALS AND FINANCIALS LEAD, TECHS AND UTES LAG: The Dow and S&P 500 hit new records this past week, while the Nasdaq lost some ground. A rebound in chemicals and copper stocks made materials the weekly leader. Financials benefited from a jump in bond yields. That also explains why utilities were the weakest sector. Energy and industrials also had a strong week. A pullback in the dollar...

9/21 MWL Recap: "What’s Hot, What’s Not" with Mary Ellen McConagle – Sentiment Update

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 YouTube StockCharts channel here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you summary slides and time stamps for viewing later. Be sure and check out the MarketWatchers LIVE ChartList for the 10 in 10 charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and come "like" our MarketWatchers LIVE Facebook page. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address.  < p class"entry-more-link">Continue reading Continue reading "9/21 MWL Recap: "What’s Hot, What’s Not" with Mary Ellen McConagle – Sentiment Update"

DP Weekly Wrap: Two Indications of a Short-Term Top

The market (represented by SPY) has nearly reached the top of a rising wedge formation, and the VIX has reached the top Bollinger Band on our reverse scale display. There is no guarantee, but there is a pretty good chance that a short-term top is very near. There is also the technical expectation that price will eventually break down from the rising wedge, but not necessarily on the next pullback.

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Weekly Market Review and Outlook (with Video) – Where’s the Selling Pressure?

Where's the Selling Pressure? (RSP). Dow Theory Bull Market Confirmation New Leadership Emerges (XLV, XLI, XLF). QQQ Gets its Flow Back. IJR Flags and IWM Tests Breakout. Finance Sector Joins the Fray. Notes from the Art's Charts ChartList. Where's the Selling Pressure? There are two parts to an uptrend. First and foremost, a progression of higher highs or rising peaks is...

Caterpillar Crawls Out Of A Trench (CAT)

Caterpillar moved above the 200 day moving average this week to get out of the trench it was building.

This trench has been a gentle correction from a massive uptrend in 2017. The SCTR is returning to 75 which is a great signal of strength. Notice the SCTR behavior in 2017. The shaded area chart shows the $SPX relative strength moving to new 3-month highs.  Price is breaking above the channel with big volume. Lastly the momentum shown on the MACD has moved above zero. Looking left, that is a big change. As long as it holds the 200 day moving average, this looks like a good place to find an entry. A move below the 200 would be a good place to have a stop execute. Good trading,
Greg Schnell, CMT, MFTA

Can You Correctly Answer This Historical Tendencies Trivia Question? I Doubt It

Market Recap for Thursday, September 20, 2018

Dow Jones, welcome to the party!  It's been eight months since the Dow Jones could say it closed in record all-time high territory, but that's what happened at yesterday's close.  The Dow Jones joined the S&P 500, NASDAQ and Russell 2000, all of which have regularly been producing record high closes.  While the NASDAQ and Russell 2000 both enjoyed gains yesterday of approximately 1%, they have more work to do to get back into record high territory.  I don't believe it'll take too long, however, as we're rapidly nearing the start of quarterly earnings season and Wall Street is likely to trade higher in anticipation of solid results.

< p class"entry-more-link">Continue reading "Can You Correctly Answer This Historical Tendencies Trivia Question? I Doubt It" »

Canadian Health Care sector ($SPTHC) gunning for test of $ 155

The Relative Rotation Graph for Canadian sectors is showing a very distinct move for the Healthcare sector. It is inside the leading quadrant and powering further into it at a strong RRG-Heading at a very long tail. All ingredients for more strength ahead and worth a closer look on a regular chart.

Two other sectors that are worth investigating are the Energy sector and the Financial Services sector. The latter is on the verge of crossing over from the improving quadrant into leading while Energy just crossed over from weakening to lagging. < p class"entry-more-link">Continue reading "Canadian Health Care sector ($SPTHC) gunning for test of $ 155" »

Natural Gas (UNG) Ready to Catch Fire

Today I received two bullish email alerts on Natural Gas (UNG). First, the Short-Term Trend Model had triggered a BUY signal. This means the 5-EMA just crossed above the 20-EMA. Second, there was a Short-Term Price Momentum Oscillator (PMO) BUY signal that registered today as well. I hadn't looked at UNG charts in some time and I can see why, they've been anything but interesting. However, the daily, weekly and monthly charts all look quite bullish right now.

< p class"entry-more-link">Continue reading "Natural Gas (UNG) Ready to Catch Fire" »

9/20 MWL Recap: "Asset and Sector Rotation Using RRGs" with Julius de Kempenaer – Anatomy of a Trade

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 YouTube StockCharts channel here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you summary slides and time stamps for viewing later. Be sure and check out the MarketWatchers LIVE ChartList for the 10 in 10 charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and come "like" our MarketWatchers LIVE Facebook page. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address.  < p class"entry-more-link">Continue reading Continue reading "9/20 MWL Recap: "Asset and Sector Rotation Using RRGs" with Julius de Kempenaer – Anatomy of a Trade"

DOW AND S&P 500 HIT NEW RECORDS — THE DOW IS THE LAST ONE TO CLEAR ITS JANUARY HIGH

THE DOW IS THE LAST TO CLEAR ITS JANUARY HIGH... Another day of rising stock prices has pushed the Dow and the S&P 500 new records. In the case of the SPX (Chart 1), today's new high is enough to push it back above its August high. It actually cleared its January high a month ago which was a much bigger event. The bigger story rests with the Dow. Chart 2 shows the...

Welcome to The Mindful Investor

It is with great pleasure that I welcome you to my new blog on StockCharts.com entitled The Mindful Investor.  I have been a StockCharts.com user for years but have become even more impressed as I’ve gotten to know the great people behind this website.  I’m honored to be a part of StockCharts.com and look forward to many good things in the coming years. The idea for this blog came from my presentation at ChartCon 2018, where I presented a session called “The Mindless Investor and the Mindful Investor.”  During a particularly stressful period in my life, I was introduced to mindfulness meditation and things suddenly started to make more sense.  As I incorporated mindful practices into my life, I was able to better focus on my surroundings and approach situations with a greater sense of calm and purpose. The more I learned about
Continue reading "Welcome to The Mindful Investor"

Canadian Healthcare and Financial Services winning over Energy

While browsing through some pre-populated RRGs on the site I stumbled upon the chart holding Canadian sectors.

What immediately triggered me was the sharp move of the Healthcare sector into the leading quadrant at almost 45 degrees which means that the sector is moving higher on both axes which is a strong sign. < p class"entry-more-link">Continue reading "Canadian Healthcare and Financial Services winning over Energy" »

Traders Are High On Cannabis Stocks, But Life Insurance Is the Safer Bet

Market Recap for Wednesday, September 19, 2018

The biggest news stories technically-speaking yesterday were the breakout in financials (XLF, +1.70%) and the rising 10 year treasury yield ($TNX), which closed at 3.08% and is just 3 basis points from testing a 7 year high.  But September 19, 2018 will likely be remembered more for the wild trading day for cannabis stocks.  One of the most visible, Tilray (TLRY), went on a ride that would have impressed any amusement park enthusiast.  TLRY's CEO Brendan Kennedy joined Jim Cramer on CNBC's Mad Money Tuesday evening and suggested that his business should be appealing to every major pharmaceutical company as a "smart hedge".  Cannabis stocks had already enjoyed a crazy ride higher since the beginning of August and it was topped off yesterday with individual stock gains rarely seen on Wall Street.  TLRY finished the day up 38.12%, but earlier in Continue reading "Traders Are High On Cannabis Stocks, But Life Insurance Is the Safer Bet"

Materials Sector Heats Up, Watching SOXX and Two Stocks

Small-cap Materials Take the Lead. An Abandoned Hammer in SOXX. FireEye, the Big Base and Volume. Arista Hits Support and Oversold Zone. ... Small-cap Materials Take the Lead ... There are nine small-caps sectors and the SmallCap Materials ETF (PSCM) is taking the lead. First, it is the only one of the nine small-cap sectors to hit a new high on Wednesday. Second, it is up

9/19 MWL Recap: Guest David Keller, "The Mindful Investor" – Are You Buying This?

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 YouTube StockCharts channel here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you summary slides and time stamps for viewing later. Be sure and check out the MarketWatchers LIVE ChartList for the 10 in 10 charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and come "like" our MarketWatchers LIVE Facebook page. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address.  < p class"entry-more-link">Continue reading Continue reading "9/19 MWL Recap: Guest David Keller, "The Mindful Investor" – Are You Buying This?"

Dollar Index Is On A Knife Edge

Long-term dollar technical position Short-term picture bearish outcome Short-term picture bullish outcome Euro Yen Swiss franc Long-term dollar technical position I have been primary trend bullish on the dollar for several months. That opinion still stands because the Dollar Index is well above its 12-month MA and its long-term KST is positive. The

FOUR-MONTH HIGH IN THE 10-YEAR TREASURY YIELD HELPS FINANCIAL SPDR BREAK OUT TO THE UPSIDE — BUT MAKES UTILITIES THE DAY’S WEAKEST SECTOR

RISING BOND YIELDS HELP FINANCIALS, BUT HURT UTILITIES... This morning's message suggested that this week's upside breakout in bond yields was helping financial stocks which were the day's strongest sector. The green bars on top of Chart 1 show the 10-Year Treasury yield surging to the highest level in four months and nearing a test of its May high. An upside breakout...