Chart Trader – Reports & Videos
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
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
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
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
Trends often start with outsized moves. But how do we measure and identify such moves? Chartists can measure moves in Average True Range (ATR) terms using the ATR Trailing Stop SAR indicator (ATR-SAR). ATR is a volatility indicator developed by Welles Wilder.
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
The weight of the long-term evidence remains bullish, but the short-term evidence is starting to turn as the 4-wk High-Low Percent indicator combo turned bearish. I consider this strike two against the short-term bulls. Strike one was the gap down
Stocks fell on Tuesday and then recovered somewhat on Wednesday. Overall, SPY is leading the market with the strongest short-term uptrend. QQQ stalled since March 1st, but this is just a consolidation within a bigger uptrend.
The weight of the evidence is bullish for the long-term and the short-term. Long-term, the Composite Breadth Model is positive. Short-term, 4wk High-Low Percent for the S&P 500 and Nasdaq 100 remains net bullish, while SPY and QQQ continue to stair-step higher.
The first chart shows 4wk High-Low Percent for the S&P 500, Nasdaq 100, S&P MidCap 400 and S&P SmallCap 600. There is a detailed explanation below the chart. This SPX/NDX combo turned bullish on November 2nd
The weight of the evidence remains bullish for stocks, both long-term and short-term. Some groups within the Nasdaq 100 corrected over the last two months. S&P 500 stocks picked up this slack as 52-week highs
The bull run continues with the S&P 500 SPDR (SPY) surging 2% the last three days and hitting another new high. Four of the eleven sectors hit new high (Finance, Industrials, Communication Services and Materials). We also saw new highs in several economically sensitive groups: Home Construction ETF (ITB), Retail SPDR (XRT)
The weight of the evidence remains bullish for stocks, but I continue to see sizable pockets of short-term and medium-term weakness. Upside participation within the Nasdaq 100 and S&P SmallCap 600 is deteriorating. The S&P 500 is still holding strong and the 4wk High-Low Percent combo
The 20+ Yr Treasury Bond ETF (TLT) failed again at the falling 40-week SMA and looks poised to resume its bigger downtrend. Keep in mind that bonds and yields move in the opposite direction. A resumption of the
The Oil & Gas Equipment & Services ETF (XES) is showing strength here in March as it breaks back above its 40-week SMA. More importantly, the long-term trend is up and this week’s breakout argues for a continuation of this uptrend.