1/10 MarketWatchers LIVE Recap – Everything Wyckoff with Bruce Fraser

  Welcome to the recap of Wednesday'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. You'll find the latest episode here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. 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 "1/10 MarketWatchers LIVE Recap – Everything Wyckoff with Bruce Fraser"

Will Legalization Continue To Stoke Medical Marijuana Investors?

  • Many stocks are up 100% or more
  • Most have seen dramatic volume surges

For Canada, Marijuana within the Healthcare Sector has been one of the single biggest performers over the last month. Let's review what is going on here.

The last month shown on the first table has seen spectacular gains. The Percentage Change column is remarkable. < p class"entry-more-link">Continue reading "Will Legalization Continue To Stoke Medical Marijuana Investors?" »

Ready to Roll the Dice with MGM?

MGM Resorts (MGM) is gearing up for a resistance challenge and the speculator in me expects a breakout. First and foremost, MGM is in a long-term uptrend with the September 7th spike marking a 52-week high. The 50-day EMA is also above the 200-day EMA and price is well above the rising 200-day EMA. 

The stock surged some 15% from mid October to late November with a move to the resistance zone. A triangle consolidation then unfolded and a consolidation after an advance is typically a bullish continuation pattern. A break above the early January highs would be bullish and signal a continuation higher.  < p class"entry-more-link">Continue reading "Ready to Roll the Dice with MGM?" »

JNJ Breaks Out; Why Pharmas Could Lead The Market In 2018

Note At the bottom of this article, you can type in your email address and hit the green "Notify Me" button to subscribe to my blog for FREE!  Then my article will immediately be sent to your email address upon publishing.  Thanks! Market Recap for Tuesday, January 9, 2018 It took quite a bit of effort for the bears to stop the bulls' winning streak, but the bulls returned the favor on Tuesday with little effort at all.  Ho-hum, it was just another 100 point day for the Dow Jones.  It doesn't seem to matter which sector or two take a pause as many others routinely step up to the plate.  Yesterday, the bulls turned to healthcare (XLV, +1.18%) and financials (XLF, +0.78%).  Pharmaceuticals ($DJUSPR) were the beneficiary of a significant price breakout in Johnson & Johnson (JNJ) as you can see below: < p class"entry-more-link">Continue reading "JNJ Breaks Out; Why Pharmas Continue reading "JNJ Breaks Out; Why Pharmas Could Lead The Market In 2018"

1/9 MarketWatchers LIVE Recap – Sector Analysis – Under the Radar

  Welcome to the recap of Tuesday'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. You'll find the latest episode here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. 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 "1/9 MarketWatchers LIVE Recap – Sector Analysis – Under the Radar"

Roll Out The Barrels And TAP It

As the market absorbs the early days of 2018, there is a huge movement underlying the market. The bonds are breaking down, the $USD has completed a base and is starting to rise, and commodities like Gold and Silver are starting to soften. The stock TAP looks like it is changing too. The chart of Molson Coors (TAP) has also been rising up after being in a year long downtrend. It is approaching resistance now so it is starting to get very interested as a base breakout.  While the chart has not decisively broken out, it has all the makings of a new breakout. The move this week above the trend line is interesting. The trend line is a little wobbly based on the touch points on the left. The weekly chart looks a lot better. The PPO has turned up and broken the down sloping trend line which is Continue reading "Roll Out The Barrels And TAP It"

Bond Yields Are Breaking Out All Over

Basic changes in long-term momentum The five-year maturity is signalling an end to the secular decline in yields Twenty-year yield showing signs of basing Ten-year attacking mega down trend line From a short-term aspect bond prices look vulnerable Utilities about to crash? Basic changes in long-term momentum Since the beginning of 2017 of yields of differing maturities have

The Dow Jones Ends Its 2018 Winning Streak…..Barely

Market Recap for Monday, January 8, 2018

After mostly a weak start on Monday, our major indices resumed their bullish ways and finished with positive returns.  The lone exception was the Dow Jones, which dropped 13 points to end its impressive winning streak to open 2018.  Weakness in Unitedhealth Group (UNH), Goldman Sachs (GS), Walt Disney (DIS) and General Electric (GE) held back an otherwise strong Dow Jones.  Caterpillar (CAT) rose another 2.5% yesterday and is off to a stellar start in 2018. < p class"entry-more-link">Continue reading "The Dow Jones Ends Its 2018 Winning Streak.....Barely" »

DP Alert: Bullish Indicators, But isn’t it Time for a Pause? – Flag or Island Reversal on USO?

Carl always told me that you shouldn't put questions in the title of your articles unless you plan on answering them. I will. First, I want to point out the all green DecisionPoint Scoreboards. As I told listeners this morning, since I've been tracking these Scoreboards over three years, this is only the second time they have been all green; and the first time it only lasted two days and the market began to pause and top somewhat which added a few PMO SELL signals. I would look at these "all green" boards as a possible warning we will see a pause or pullback soon.  < p class"entry-more-link">Continue reading "DP Alert: Bullish Indicators, But isn't it Time for a Pause? - Flag or Island Reversal on USO?" »

1/8 MarketWatchers LIVE Recap – Monday Set-Ups – DecisionPoint Report

  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. You'll find the latest episode here. Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.  Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. 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 "1/8 MarketWatchers LIVE Recap – Monday Set-Ups – DecisionPoint Report"

Will Price Follow Volume for Broadcom?

Broadcom (AVGO) fell on hards time in December with a decline to the breakout zone, but this zone ultimately held and it looks like the uptrend is ready to resume. First and foremost, AVGO is in a long-term uptrend after the big breakout in October and the 52-week highs in November. This long-term uptrend means I am focused on bullish setups and pullbacks within the uptrend. 

The December pullback looks like a classic correction because the stock bounced right where it should. Notice that broken resistance turned into support and the stock held the throwback to this breakout zone. Second,  the stock retraced 61.8% of the prior advance and this amount is normal for correction within an uptrend (think 3 steps forward and 2 steps backward). 

< p class"entry-more-link">Continue reading "Will Price Follow Volume for Broadcom?" »

Selecting stocks to watch (and avoid) in the Dow 30 using Relative Rotation Graphs(r)

  The Relative Rotation Graph shows the members of the DJ Industrials index against $INDU. This is a so-called closed universe which means that all elements that make up the universe are present in the plot. If we would calculate all the distances (vectors) from the center of the chart to the various stocks (market cap weighted) and add them up the result would be zero. The two stocks that immediately stand out are GE and MRK, although both are showing an uptick in relative momentum (rising JdK RS-Momentum)they remain deep inside the lagging quadrant. Browsing through the individual members of the DJ Industrials index on the Relative Rotation Graph while looking for positive or negative RRG-Headings, reveals potentially interesting rotational patterns for BA, CAT, and CVX inside the weakening and improving quadrants. At the opposite side, I noted a weak rotational pattern for JNJ while the uptrend on the Continue reading "Selecting stocks to watch (and avoid) in the Dow 30 using Relative Rotation Graphs(r)"

No Jobs? No Problem! U.S. Equities Soar Despite Weak Report

Market Recap for Friday, January 5, 2018

Not even a disappointing jobs report on Friday could slow down this bull market train.  U.S. futures were strong before the release of December's nonfarm payrolls and they didn't give up a thing after the release, which showed that jobs were reported at 148,000, well short of the 191,000 forecast.  The bond market did initially react as you might expect - with a quick drop in the 10 year treasury yield ($TNX) as soon as the weak jobs report hit the wires.  Check it out on a 5 minute intraday chart: < p class"entry-more-link">Continue reading "No Jobs? No Problem! U.S. Equities Soar Despite Weak Report" »

2018 Stock Market Forecast

HAPPY NEW YEAR!

In my first Trading Places blog article of 2018, "Here's One Chart That Screams BUY As We Begin 2018", I highlighted my favorite relative chart in the Current Outlook section.  It's one of the biggest reasons why I believe 2018 will simply be an extension of what we saw in 2017.  The bull market appears to be quite sustainable as we enter 2018.  But what areas will lead the stock market in 2018? < p class"entry-more-link">Continue reading "2018 Stock Market Forecast" »

Global Stocks Start Year With a Bang, S&P 500 is Well Into a Five-Wave Advance

Global stock markets started off the new year with a bang. U.S. stock indexes exploded to record highs for the best start in years. Foreign stock benchmarks did the same, including the FTSE All World Stock Index which also hit a new record. New records were set in North America, Europe, and Asia and in both developed and emerging markets. So what's there not to like? Well, there is one thing. Stocks are very stretched on a historical level. That may not be a problem at the moment. But could become one later in the year if some things start to go wrong. But first let's look at how much stocks are stretched. The black bars in Chart 1 compare monthly bars for the S&P 500 to a 14-month RSI line. Readings over 70 show a major overbought condition. The last two times that happened was in the 2006/2007
Continue reading "Global Stocks Start Year With a Bang, S&P 500 is Well Into a Five-Wave Advance"

Here’s A Trading Strategy That Works In Any Market

Ultimately, the U.S. stock market lives and dies by the performance of its economy and how that translates into earnings growth of U.S. companies.  Nearly every economic report that we've seen of late has been strong or strengthening.  The number of companies that are performing well on their top and bottom lines has been growing.  It's evidenced by the number of stocks that we currently have on our Candidate Tracker at EarningsBeats.com.  We have nearly 300 companies on this Candidate Tracker ChartList and it's by far the most we've ever had.  It tells us a few things.  But before I go into that, let's take a quick trip down memory lane.  Here are two charts of the S&P 500 since this bull market began.  The first is a chart of the first half of the bull market and the
Continue reading "Here’s A Trading Strategy That Works In Any Market"

GLOBAL STOCKS START YEAR WITH A BANG WITH STOCKS AROUND THE WORLD HITTING NEW RECORDS — BUT THE S&P 500 INDEX IS THE MOST OVERBOUGHT IN TWENTY YEARS

S&P 500 IS MOST OVERBOUGHT SINCE LATE 1990S... Global stock markets started off the new year with a bang. U.S. stock indexes exploded to record highs for the best start in years. Foreign stock benchmarks did the same, including the FTSE All World Stock Index which also hit a new record. New records were set in North America, Europe, and Asia and in both developed

Symantec (SYMC) Looks Well Supported Heading Into 2018

Symantec (SYMC) spent 18 months rising off the lows of 2016. But since February of 2017, it has continually tested, found support at and held $28.00. This week the stock pushed off that level one more time. There are good reasons to look at a trade here. The relative strength of SYMC has been beaten down as shown by the SCTR ranking. However, this week it closed at 2 month highs with the SCTR moving out of the bottom quadrant and now sits at 25.8. While that's promising, it still points to a pretty weak stock. I find two particularly interesting places on the SCTR rankings. One is stocks accelerating into the top quadrant or the top 25% (An SCTR ranking above 75). The other group I like is when a stock accelerates from being unloved and moves out of the bottom 25%. Symantec is particularly interesting this
Continue reading "Symantec (SYMC) Looks Well Supported Heading Into 2018"