Chart Trader

ChartTrader – Yields Fall – Housing Firms – 2 Data Center Stocks – Symbols: $TNX, ITB, LEN, TOL, KBH, PHM, SMCI, DELL (Premium)

The weight of the evidence is bullish for large-caps and large-cap techs. SPY represents large-caps and QQQ represents large-cap tech stocks. Even though there are 1000s of “other” stocks out there, these stocks represent the 800 pound

ChartTrader – Yields Fall – Housing Firms – 2 Data Center Stocks – Symbols: $TNX, ITB, LEN, TOL, KBH, PHM, SMCI, DELL (Premium) Read More »

ChartTrader – Bull Market – Short-term Mixed – MDY Stalls – Symbols: XLV, MRK, TMO, CIBR, CHKP, CYBR, PANW (Premium)

The weight of the evidence is bullish for the long-term, but the short-term evidence is a bit mixed. SPX 4wk HiLo% plunged below -30% on May 29th, but NDX 4wk HiLo% did not confirm this signal. Thus, the combo remains net bullish

ChartTrader – Bull Market – Short-term Mixed – MDY Stalls – Symbols: XLV, MRK, TMO, CIBR, CHKP, CYBR, PANW (Premium) Read More »

ChartTrader – Large-cap Techs Lead, Chinese Names Correct, Symbols: RSP, IWM, BOTZ, MEDP, PLTR, FXI, BABA, JD (Premium)

SPY and QQQ surged to new highs on Wednesday and continue to lead the market. Note that SPY and QQQ were the only major index ETFs to hit new highs this week. The S&P SmallCap 600 SPDR (IJR) tagged a new high in May, but RSP, MDY and IWM

ChartTrader – Large-cap Techs Lead, Chinese Names Correct, Symbols: RSP, IWM, BOTZ, MEDP, PLTR, FXI, BABA, JD (Premium) Read More »

ChartTrader – Breadth Turns Mixed – Bearish Engulfings – Symbols: TLT, IJR, SOXX, IBIT, BLOK, XBI, $WTIC, BRK.B, BKNG (Premium)

The weight of the evidence is bullish for the long-term, but the short-term evidence is turning quite mixed. SPX 4wk High-Low Percent plunged below -30% last week and fewer than 50% of Nasdaq 100 stocks are above their 50-day SMA. Software stocks

ChartTrader – Breadth Turns Mixed – Bearish Engulfings – Symbols: TLT, IJR, SOXX, IBIT, BLOK, XBI, $WTIC, BRK.B, BKNG (Premium) Read More »

ChartTrader – Short-term Breadth Indicators Deteriorate – Symbols: TLT, $TNX, FINX, CIBR, IGV, XLK, MAGS, SOXX (Premium)

The long-term indicators are still bullish, but I am seeing short-term deterioration under the surface. This is especially pronounced outside of large-cap tech (XLK, QQQ, MAGS, SOXX). SPY and QQQ are up over the last two months

ChartTrader – Short-term Breadth Indicators Deteriorate – Symbols: TLT, $TNX, FINX, CIBR, IGV, XLK, MAGS, SOXX (Premium) Read More »

ChartTrader – Weighing the Evidence – Two Sector Stand Out – Symbols: XLK, XLU, TTD, IBIT, BLOK, BLCN, COIN, MARA (Premium)

The weight of the evidence remains bullish for stocks. SPY and QQQ hit new highs and continue to lead the market. The S&P 500 EW ETF (RSP) and Russell 2000 ETF (IWM) did not exceed their spring highs and continue to lag. Large-caps and large-cap techs are

ChartTrader – Weighing the Evidence – Two Sector Stand Out – Symbols: XLK, XLU, TTD, IBIT, BLOK, BLCN, COIN, MARA (Premium) Read More »

ChartTrader – AI Trade Revs Up – Discretionary Lags – Housing Fades – Symbols: TLT, $TNX, RSPD, ITB, NOC, VRSN  (Premium)

Nvidia (NVDA) released blowout results yet again and surged some 6.5% higher in after hours trading. This move is stoking the large-cap tech and AI trade. AMD (chips), HPE (data center), DELL (data center) and TSM (chip manufacturing) are all

ChartTrader – AI Trade Revs Up – Discretionary Lags – Housing Fades – Symbols: TLT, $TNX, RSPD, ITB, NOC, VRSN  (Premium) Read More »

ChartTrader – Bull Confirmed – XLK Still Leading – Symbols: IGV, CIBR, SOXX, SKYY, FINX, BBH, IBB, XBI, ADP (Premium)

Stocks remain strong with strength broadening. Even so, the old leaders are still the current leaders. The S&P 500 SPDR, Nasdaq 100 ETF and Technology SPDR hit new highs over the last few days. Large-caps and large-cap tech continue to

ChartTrader – Bull Confirmed – XLK Still Leading – Symbols: IGV, CIBR, SOXX, SKYY, FINX, BBH, IBB, XBI, ADP (Premium) Read More »

ChartTrader – SPY/QQQ Lead – Symbols: TLT, $TNX, $WTIC, IBIT, SOXX, IGV, SKYY, CIBR, FINX, DKNG, HUBS, MEDP, NBIX, SQ  (Premium)

Stocks reacted positively to the CPI report and surged as Treasury yields fell, and TLT continued its May bounce. SPY and QQQ hit new highs on Wednesday. Also note that QQQ is leading the way since the mid April lows with a 9.22% advance

ChartTrader – SPY/QQQ Lead – Symbols: TLT, $TNX, $WTIC, IBIT, SOXX, IGV, SKYY, CIBR, FINX, DKNG, HUBS, MEDP, NBIX, SQ  (Premium) Read More »

ChartTrader – Make or Break is Here – XLK and late August – Symbols: MAGS, NVDA, CIBR, IGV, SKYY, AMD, SMCI, LLY, MRK, TMO (Premium)

SPY and QQQ remain at make or break levels and this week is key. Another push higher would likely show a short-term expansion in upside participation and add some legs to the current bounce. Failure to push higher at this stage could mark a short or intermediate top. There are two inflation-related

ChartTrader – Make or Break is Here – XLK and late August – Symbols: MAGS, NVDA, CIBR, IGV, SKYY, AMD, SMCI, LLY, MRK, TMO (Premium) Read More »

ChartTrader – Correction within Uptrend for SPY/QQQ, Symbols: TLT, XLV, XBI, KBWB, IGV, CIBR, SKYY, SOXX (Premium)

The Fed has come and gone, but earnings season remains in full swing and SPY is in corrective mode. This is not an ideal time for stock setups and signals. Volatility is above average and I prefer to avoid setups in stocks with upcoming earnings reports. As such, today’s report focuses on ETFs

ChartTrader – Correction within Uptrend for SPY/QQQ, Symbols: TLT, XLV, XBI, KBWB, IGV, CIBR, SKYY, SOXX (Premium) Read More »

ChartTrader – Correction within Uptrend, Oversold Bounce within Correction, Symbols: TLT, $TNX, XLU, XLP, PBJ, URA, SOXX, TXN ADI, MCHP (Premium)

Volatility is on the rise as we saw outsized declines into mid April and breaks below the 50-day SMAs for SPY and QQQ. Both rebounded the last six days and they are approaching the underside of their 50-day SMAs, which may turn into resistance. Overall, the long-term evidence remains bullish for stocks, but the short-term evidence

ChartTrader – Correction within Uptrend, Oversold Bounce within Correction, Symbols: TLT, $TNX, XLU, XLP, PBJ, URA, SOXX, TXN ADI, MCHP (Premium) Read More »

ChartTrader – Defensive Sectors Lead, Offense Lags, Correction Underway, Correction Lessons from META and NVDA (Premium)

Some 75% of stocks in the S&P 500 and Nasdaq 100 report earnings in the next three weeks. Ugh! META reported last night and the stock fell around 13% in after hours trading. Microsoft (MSFT) and Alphabet (GOOGL) report after the close today. AMZN reports on April 30th, Apple

ChartTrader – Defensive Sectors Lead, Offense Lags, Correction Underway, Correction Lessons from META and NVDA (Premium) Read More »

ChartTrader – Finding Clues to Signal an End to the Correction, Tech ETFs Lead Lower, Defensive ETFs Hold Up (Premium)

Stocks were hit with strong selling pressure in April, but the weight of the evidence remains bullish. This means the decline is viewed as a correction within a bigger uptrend. Most stock-based ETFs and stocks will remain under pressure as long as SPY and QQQ are in corrective mode. I am marking

ChartTrader – Finding Clues to Signal an End to the Correction, Tech ETFs Lead Lower, Defensive ETFs Hold Up (Premium) Read More »

ChartTrader – Outsized Declines, Bearish Breadth Thrusts, Oversold Conditions and Correction Targets (Premium)

Stocks were hit with strong selling pressure here in April. This selling pressure triggered outsized declines and bearish breadth thrusts. The uptrend, which began with the November breakout, has been derailed. Even so, the longer term indicators are still bullish and this is considered

ChartTrader – Outsized Declines, Bearish Breadth Thrusts, Oversold Conditions and Correction Targets (Premium) Read More »

ChartTrader – Downside Participation Expands, SPY Breaks, QQQ Holds, Yields Rise, SOXX Joins ITB and XRT (Premium)

SPY fell 3.6% so far in April and is below its 50-day SMA for the first time since October. This looks like the start of a pullback because downside participation expanded significantly, just as it did in mid August. Some 83% of S&P 500 stocks were above

ChartTrader – Downside Participation Expands, SPY Breaks, QQQ Holds, Yields Rise, SOXX Joins ITB and XRT (Premium) Read More »

ChartTrader – ATR-SAR Holds for SPY/QQQ, Beaks for XRT/ITB, Yields Rise, Breakouts Fail for ADI/MCHP (Premium)

Weakness is spreading as the 10-yr Treasury Yield rises above 4.5%. Even though the rise is not that sharp, the market is re-pricing interest rate expectations going forward. This is especially visible in the Consumer Discretionary sector and Small-caps. Selling pressure increased markedly over

ChartTrader – ATR-SAR Holds for SPY/QQQ, Beaks for XRT/ITB, Yields Rise, Breakouts Fail for ADI/MCHP (Premium) Read More »

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