The SPY was up just +0.04% today. It clawed back from a loss of over 2% to close on that positive note. A review of trading for the week on the 5-minute candlestick reveals that this end of day rally broke through overhead resistance at yesterday's lows...
"Diamonds in the Rough" were mostly down on the week, but on average we did better than the SPY. As the title of today's edition implies and Shania Twain sings, "That Don't Impress Me Much". The biggest losers were from Tuesday where I picked Healthcare and a High Dividend ETF...
The NAAIM Exposure Index has reached its lowest point since the price top in late-2021, which should have the attention of short-term traders wanting to catch the next bounce...
Materials (XLB) was the winning sector today. It beat out second place Healthcare (XLV) by over a half percent. It didn't surprise me to see some Materials stocks on the lists of readers. I also have an interesting request from the beat down Technology sector...
Target (TGT) had a big miss on earnings today and declined almost -25%. Being a component of Consumer Staples Sector (XLP), this disaster caused one of the three remaining unscathed S&P Sectors to "have a great fall," and to break support and a rising trend line...
The market took a beating today. The only issues that were up were Bonds, Gold, Nat Gas and SPCX (SPAC & New Issues ETF). That's it on our ETF Tracker which covers nearly all of the major indexes and industry groups...
We know there is a "spoiler" in the title, but we wanted you to keep the upside exhaustion climax in mind as we look at the charts and indicators...
I and many other analysts have been discussing "relative strength". The primary measurement we use is "price relative". Basically we take a ratio of the stock/ETF and the SPY. We compare price to price...
XLE broke out intraday but finished right on resistance at the close. We expect price to push through and close above given the brand new PMO crossover BUY signal that was triggered today...
In this special edition of DecisionPoint, Erin goes through the primary chart patterns and how they can be used to determine upside and downside targets. She discusses how the market in general can affect the resolution of chart patterns...
It was a volatile trading week with investors breathing a sigh of relief on today's positive close. However, today's rally didn't prevent a negative close on the week...
"Diamonds in the Rough" were mixed this week as some of the softer areas of the market rallied today. In particular, Home Builders which had broken below long-term support decided to rally strongly. Having presented them on the short side, it killed the spreadsheet...
A few days ago we asked the question as to whether sentiment was bearish enough. Today, we got an indication that it is getting there. The NAAIM Exposure Index dropped from last week's mid-fifties reading to 24.31 this week...
I shouldn't be surprised, but I am. There were no reader requests today. Not one. Consequently I had to march on and find some interesting "Diamonds in the Rough" for you. I think I came up with some good ones today centering on the run up in commodities...
We decided to move our comments on Bitcoin to the top of the article today. Cryptocurrencies are unraveling and today's breakdown is significant. Bitcoin dropped below a support line today, continuing the decline implied by the head and shoulders breakdown earlier this year...
The Diamond PMO Scan again only produced two results--both were the same as yesterday's results. Neither looks enticing, but I'll reveal them further down and let you decide. The Diamond Dog Scan produced 78 results today versus 87 yesterday...
We decided to cover some sentiment charts on the DecisionPoint Show yesterday. It is an interesting picture. Clearly sentiment is bearish. The question is whether it is bearish enough to start expecting a bear market bottom. Let's first talk about sentiment in a general sense...
This is an excerpt from today's subscriber-only DecisionPoint Alert report... We decided to cover some sentiment charts on the DecisionPoint Show yesterday. It is an interesting picture. Clearly sentiment is bearish...
The market finished mixed today with the Dow down -0.25% and the SPX up +0.25%. The Nasdaq outperformed up nearly +1%. Where does this leave us? The Diamond PMO Scan only saw two results today, neither of which was particularly bullish...
We'll address the market support issues below, but today the Materials Sector (XLB) 20-day EMA crossed down through the 50-day EMA, a dark cross changing the IT Trend Model from BUY to NEUTRAL...