There were several new highs, and even a few all time highs, this week as stocks extended their October run into early November. This post features some ETF chart notes, an update to the ETF ChartBook and a video covering all 60 core ETFs.
Video, ChartBook Update and Chart Notes Read More »
The Nasdaq AD Line is not keeping pace with the Nasdaq Composite, but this is not necessarily bearish. Note that the Nasdaq hit a new high in July and again on November 1st
A Tale of Two Nasdaq Lines – The AD Line versus the AD Volume Line Read More »
Something must be right in the global equity markets because we are seeing new highs in a number of key country indexes. The S&P 500 and Nasdaq 100
The State of the Stock Market – Market Takes an Offensive Turn in October Read More »
Even though stock-related ETFs are dominating here in October with big moves and new highs in several key groups, the precious metals and bond ETFs
Ranking and Grouping ETFs – Precious Metals and Bonds Hijack Halloween Read More »
The Biotech ETF (IBB) is making a bullish statement with recent developments in momentum, volume and trend.
Biotech ETF Makes a Statement Read More »
The market as a whole is not firing on all cylinders, but that is not really important. What, then, is important? We cannot expect a perfectly bullish stock market and rising tide that lifts all boats, as was the case in 2013 and 2017. Instead, we need to know which cylinders are firing bullish and
The Stock Market is Not Firing on All Cylinders Read More »
The S&P 500 SPDR (SPY) has gone nowhere since July, and that’s ok. Consolidations, corrections and pullbacks are all part of the process when it comes to uptrends. As the chart below shows, SPY is knocking on the prior highs and very close to a breakout.
State of the Stock Market – Large-caps Continue the Heavy Lifting Read More »
Bullish continuation patterns are my favorite patterns when it comes to stocks and ETFs. As the name suggests, bullish continuation patterns, when confirmed, signal a continuation of the prior trend. Furthermore, because it is a “bullish” continuation, it means the prior trend was up and that trend is now continuing. With the S&P 500 spending
Anatomy of a Classic Bullish Continuation Pattern – And a Live Example Read More »
Strength is broadening among the industry group and sector ETFs. In particular, several ETFs that were classified as trending lower and lagging have been upgraded to emerging leaders. I do not mean “Emerging” markets
Ranking and Grouping ETFs – Ascending Triangles Taking Shape and New Leaders Emerging Read More »
The Industrials SPDR (XLI) and Finance SPDR (XLF) are two of the big six sectors in the S&P 500 and both are moving in the right direction: up. The Industrials sector accounts for 9.32% of the S&P 500, while the Finance sector accounts for 13.02%. They are important sectors because of their size and because
XLI and XLF Do the Zigzag and Underpin Bullish Thesis Read More »
The lack of new highs may seem like a concern, but one cannot talk about new highs without also looking at new lows because there are two sides to the story.
Few New Highs, but Even Fewer New Lows Read More »
Stocks have been mixed since summer with the major index ETFs trading in ranges the last three months. The S&P 500 SPDR and Nasdaq 100 ETF hit new highs before embarking on their trading ranges, while the S&P MidCap 400 SPDR and Russell 2000 ETF
The stock market took on a more offensive tone over the past week with some of the beaten down groups outperforming. In addition, some of the defensive leaders underperformed and even corrected. The Utilities SPDR, Consumer Staples SPDR and
SPY closed well below its intraday high to put this follow-through day in question. Nevertheless, chartists should not loose sight of the bigger picture.
Follow Through Day or Not? Read More »
My assumptions and biases are based on the bigger trend because it is the dominant force at work. When the trend is up, I view the cup as half full and expect more bullish resolutions than bearish resolutions.
The State of the Stock Market – Key Assumptions Determine Probabilities Read More »
The goal of this commentary is to cut through the day-to-day noise and focus on price action that actually matters. Noise can be in the form of news or random price fluctuations. Either way, we are often better off when we filter the noise and focus on what really matters. So what really matters? Trends
There was a big change in the Fed balance sheet over the last few weeks that investors should know – and not fight.
A Hockey Stick for Fed Assets Read More »
The Russell is a clumsy index prone to big swings that do not foreshadow major bull and bear markets.
The Russell 2000 is One Erratic Index Read More »
The Semiconductor ETF held up much better than the broader market in September and a bullish pattern is taking shape.
Semiconductor ETFs Hold Up and Lead Technology Sector Read More »
Here’s a technique to use S&P 500 High-Low Percent for long-term market timing and the High-Low Line for short-term timing.
Tracking Trends in Two Timeframes using New Highs and Lows Read More »
The S&P 500 and Nasdaq 100 remain in good shape, the Russell 2000 remains in bad shape and the S&P MidCap 400 is caught in the middle. I am not going to read too much into relative and absolute weakness in small-caps because the Russell 2000 is always overreacting. We need to focus on the
The State of the Stock Market – A Stock Picker’s Market Read More »