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Archived Posts

GM Pins A Strong Bounce

by Greg Schnell

GM had a nice bullish reversal today along with the market. The fact that it took out yesterday's high when the overall market only made half of the previous loss (600 up vs. 1175 down) suggests good energy here. A tight stop at $41 is probably in order. If it starts to move into the lower half of today's candle, I'd let it go. Watch closely for stocks trying to surge out of bases on new highs  Read More

2/6 MarketWatchers LIVE Recap - Everything StockCharts - Cause & Effect - Bear Market Beginning?

by Erin Swenlin

  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  Read More

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STOCKS ACHIEVE UPSIDE REVERSAL -- S&P 500 BOUNCES OFF TRENDLINE SUPPORT AND 100-DAY AVERAGE

by John Murphy

S&P 500 REBOUNDS OFF CHART SUPPORT After opening sharply lower, stocks achieved an upside reversal on heavier volume than yesterday. And stocks bounced off a couple of important support levels. Yesterday's message showed a rising trendline extending back to late 2016 near the 2600 level. The last daily bar in Chart 1 shows the S&P 500 bouncing off that  Read More

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What To Look For Next

by Martin Pring

Primary trend indicators are still bullish Short-term indicators still overbought Very short-term indicators already at extremes Bonds bottoming short-term? I have been saying for some time that the market's primary trend is a bullish one and that we should not get hung up with short-term corrections. That theory is certainly being tested right now. The   Read More

Look To VIX To Call Market Bottom

by Tom Bowley

Market Recap for Monday, February 5, 2018 What a day and especially what a final hour!  It was very reminiscent of selling episodes in 2008 where our major indices were losing a percent every few minutes.  From a bullish perspective, there's little defense from panicked selling other than to be in cash and wait out the mayhem.  Selling was everywhere.  The Dow Jones was down  Read More

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Is this Just a Correction or Something More?

by Arthur Hill

First Things First (Correction or More?). Another Perfect Storm. Yield Curve Turns Up. Oversold Setup in Breadth Indicators. A Bullish Setup for VIX. Playing the Guessing Game. Past Corrections Study. First Things First It is still a bull market. The 50-day EMA for the S&P 500 remains above the 200-day EMA, the index is above the rising 200-day SMA and the index hit a new  Read More

2/5 MarketWatchers LIVE Recap - Monday Set-Ups - DecisionPoint Report

by Erin Swenlin

  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  Read More

DP Bulletin: ST Trend Model Neutrals on Scoreboard Indexes - PMO SELL for Gold

by Erin Swenlin

Today all four Scoreboard indexes (NDX, INDU, SPX & OEX) logged new Short-Term Trend Model Neutral signals. These signals arrived when the 5-EMA crossed below the 20-EMA while the 20-EMA was above the 50-EMA. In addition, we saw a new PMO SELL signal on Gold. I've included the charts below for your review. We honestly shouldn't be overly surprised by the depth of this correction given the  Read More

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STOCKS HAVE WORST DAY IN YEARS -- 50-DAY AVERAGES HAVE BEEN BROKEN

by John Murphy

S&P 500 FALLS BELOW 50-DAY AVERAGE Stocks had a terrible day today. Major stock indexes in the U.S. lost about 4% in one day. And some chart damage was done. The daily bars in Chart 1 show the S&P 500 falling well below its 50-day average. Its next potential support is the rising trendline drawn under its November 2016 and August 2017 lows near 2600. That  Read More

Palo Alto Holds above Breakout Zone

by Arthur Hill

The stock market was hit with hard selling pressure last week, but Palo Alto Networks (PANW) held up rather well and move below its breakout zone. Stocks that hold up best during a broad market correction are often the ones that lead on the rebound.  The chart shows PANW in a clear uptrend with the 50-day EMA above the 200-day EMA. Both EMAs are also rising. PANW also recorded a 52-week  Read More

A few hundred points in the S&P 500.... Who cares?

by Julius de Kempenaer

The rough ride down in the markets last Friday was something that was probably expected by many but still came as a surprise. I am not a big fan of "calling tops", or troughs for that matter. Mainly because many of these "predictions" have had many failed attempts to "call the top" before. There are a lot of people who have "called all 10 of the last 3 crashes."  Instead, I am trying to  Read More

Stocks Slammed, Futures Lower; Here's A Possible Support Level

by Tom Bowley

Market Recap for Friday, February 2, 2018 It was an ugly day on Wall Street.  In fact, it was the ugliest day on Wall Street since June 24, 2016, when the Dow Jones last fell more than 600 points.  Friday's drop was 665 points and the technical damage was obvious.  The volume was very heavy and the rising 20 day EMA was lost for only the second time since September.  Read More

AAPL Pie

by Bruce Fraser

Apple, Inc. has been an endlessly illuminating Wyckoff Method case study during this bull market advance. The ascension of AAPL demonstrates the power of large institutional sponsorship. The top echelon of this sponsorship is what Wyckoffians call the 'Composite Operator' (C.O.). The footprints of the C.O. can be identified in the vertical price charts. The objective is to determine the motives  Read More

Bond Yields Climbing, Gaining on Stocks

by John Murphy

Bond yields are rising a lot faster than a lot of people expected. And that's starting to worry stock holders. The weekly bars in Chart 1 show the 30-Year Treasury Yield rising over 3.00% for the first time since last March and heading up for a challenge of its early 2017 peak near 3.20%. A close above that more important chart barrier would be very bad news for holders of long Treasury bonds  Read More

Every Setback Presents Fresh Opportunities

by John Hopkins

Traders who are "all in" on the long side hate days like this past Friday when the market got slammed big time, with the Dow down 2.6%, the NASDAQ down 2.1% and the S&P down 2%, the worst overall showing in two years. And if you're wondering if traders were scared on the selling all you have to do is take a look at the VIX which shot up 30% as it reached levels not seen since late 2016.  Read More

The NASDAQ 100 And Its Best Seasonal Candidates In February

by Tom Bowley

Identifying The Candidates I've included the month-by-month seasonal information for all NASDAQ 100 ($NDX) stocks in an Excel spreadsheet.  In an effort to identify the best seasonal stocks on the NDX, I first considered the number of years history for each stock.  For instance, I eliminated JD.com (JD) because it only has 5 years of history.  JD performs very well beginning  Read More

Lithium (LIT) And Rare Earth Metals (REMX) Need Attention

by Greg Schnell

  Lithium LIT Rare Earth Metals REMX Steel SLX Coal KOL Book starts shipping next week! Lithium, Steel and Rare Earth Metals all had a pretty good 2017. Each week on Commodities Countdown, I roll through the commodity markets. Steel (SLX) and Coal (KOL) have been performing well recently, but this week has slowed most charts. Lithium was an all-star performer in 2017 but looks shakier here  Read More

Building a Rules-Based Trend Following Model - 4

by Greg Morris

We have covered most of the preliminary issues such as digital measures and compound measures.  This article will discuss the concept of Weight of the Evidence.  I have been fond of a weight of the evidence approach for over 30 years.  The concept of "weight of the evidence" came from Stan Weinstein who published the newsletter, "The Professional Tape Reader," and author of  Read More