Transport iShares Bounces off Range Support
With a bounce the last four days, the Transport iShares (IYT) held support from the early March low and remained range bound. Notice how the ETF has traded between 89.7 and 96 since mid January. Chartists should watch this range for the next directional signal. Click this image for a live chart.
Dollar Bullish ETF Surges off Support
The chart below shows Dollar Bullish ETF (UUP) hitting support in the 21.8 area and surging the over 1% the last two days. Notice that UUP formed a higher low above the late October low and this surge could signal a...
Dollar Bullish ETF Surges off Support $UUP $FXE
The chart below shows Dollar Bullish ETF (UUP) hitting support in the 21.8 area and surging the over 1% the last two days. Notice that UUP formed a higher low above the late October low and this surge could signal a...
Home Construction iShares Hits 2010 Highs
The Home Construction iShares (ITB) has been one of the best performing ETFs over the last six months, but this run may hit resistance from the 2010 highs in the 15.50...
Gold SPDR Firms in Key Retracement Zone
It has been a tough March for gold, but the Gold SPDR (GLD) may be at support marked by the Fibonacci Retracements Tool. Notice that the decline to 159 retraced 50-61.80%...
First Solar Fails at Resistance $FSLR
While the market moves higher on Monday, First Solar (FSLR) is moving lower with its second long black candlestick. Also notice that the stock failed at resistance near 50 for the...
Utilities SPDR Perks Up with Bounce off Support XLU
The Utilities SPDR (XLU) was relatively weak in January as it failed to partake in the broad market advance. More recently, the ETF surged in late January and again on Tuesday...
Electronic Arts Bounces off Support with Bullish Engulfing
Electronic Art (ERTS) declined to the August low in mid January and then firmed the last two weeks. A bullish engulfing formed on Friday as the stock opened weak and closed...
Medical Devices iShares Challenges Late Summer High
The Medical Devices iShares (IHI) has been moving higher since mid December and is now challenging its late summer high. Also notice that upside volume picked up over the last 4-5 weeks. While a breakout would be bullish, the ETF is getting overbought after a 13+ percent advance off its mid December low. Click this...
Oil Runs into a Wall of Resistance
The US Oil Fund (USO) started the year strong with a surge above 39, but cannot hold above this level as the ETF plunged over 1.5% on Thursday. USO was also turned back in the 39-40 area in November and December. In the indicator window, note that Spot Light Crude ($WTIC) has had trouble staying...
ADP Breaks Resistance with big Surge
Automatic Data Processing (ADP) may have an antiquated name, but the stock has outperformed Apple (AAPL) since mid September. On the chart below, ADP broke resistance from the October-November highs with...
Retailer SPDR Tests Breakout and Near Term Support
The Retail SPDR (XRT) is under pressure today after a miss from Best Buy (BBY) and a lackluster Retail Sales report. XRT broke trendline resistance in early December and then consolidated....
