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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 Read More
The SPX and OEX both triggered new ST Trend Model BUY signals as the 5-EMAs crossed above the 20-EMAs. However, the charts are less than impressive. We are seeing new strength on the DecisionPoint Scoreboards with four new PMO BUY signals and now 3 out of 4 indexes carrying ST Trend Model BUY signals. Yet, note on both the SPX and OEX below, price has not been able to penetrate the Read More
The Canadian market has been underperforming for a while. This week some clues of change started to show up. First of all, for the first time since 2016 the Canadian market broke a downtrend compared to the $SPX. Obviously, it is just barely breaking a downtrend, not turning higher yet. However, you can see on the left side of the chart, that when Canada outperformed for the first decade this Read More
General Electric (GE) is base building as we roll into May. The plummeting stock has stopped its free-fall and has now built a small head shoulders setup. Head and shoulders refers to a changing trend. The momentum is improving on each low and the stock starts to make higher lows which shows up as two shoulders around the low. The SCTR still is very low. The Relative Strength is very close to Read More
Market Recap for Monday, May 7, 2018 There was plenty of green on Monday, adding to the gains we saw late last week. The only areas of the market that struggled were the defensive consumer staples (XLP, -0.62%) and utilities (XLU, -0.52%). On the flip side, money rotated once again to the more aggressive sectors - technology (+0.70%), financials (XLF, +0.66%), industrials (XLI Read More
All four Scoreboard indexes have PMO BUY signals as of today. The Dow was the laggard, but between Friday's and today's rallies, momentum has shifted enough to push the PMO over its signal line. While we do have a PMO BUY signal, I'm not impressed with the daily chart for the Dow. The declining tops trendline was not broken today so the bearish descending triangle remains intact. Read More
Commodity Countries Canada and Australia charts both start to surge this week with Canada making a new three month high. Australia. When compared to the $SPX, we can see that commodity countries are starting to take the lead on the very short term. It's been a long time since they have outperformed. Below is the $SPX. It would need to rally 100 points to get back to three month highs. However Read More