It shouldn't be too surprising to see the GSG chart below. As we continue to move into an inflationary environment, one of the areas that usually benefits is commodities. GSG didn't fare well in November, but since its low it has rallied...
The market is struggling and is very weak based on the lack of scan results from my favorite scans, including the Diamond PMO Scan...
The Nasdaq 100 (QQQ) has been languishing in a trading channel between $370 and $405. It's about to reach the bottom of the channel so the question is whether this support level is going to be a launching pad...
When you review the Sector Summary, you'll note that this week, only two sectors finished higher, Energy (XLE) and Communication Services (XLC). That doesn't tell the whole story. XLE closed the week up +5.17% while XLC barely closed up +0.16% on the week...
Rotation out of the growth area of Technology couldn't be more clear these days. Inflation beneficiaries of Energy and Consumer Staples as well as rising rate beneficiary, Financials are leading...
I had quite a few Reader Requests come through my email box this week which is good since my scans are simply not producing anything. There were no themes in my results today, they were all over the board and I honestly liked the Reader Requests better so all five were sent in...
Consumer Staples (XLP) is pulling back from all-time highs and in the process, it generated a PMO crossover SELL signal in overbought territory. Is this sector finished? When we look at price, it is still holding support at the mid-December price top and the 20-day EMA...
The Diamond PMO Scan turned up zero results for the fourth day in a row. This is not good for the market and tells me that while the market is moving higher, participation is not broad. There are pockets of strength and we had two themes emerge in the few results I did get...
I've been keeping an eye on Natural Gas (UNG) as I always do. After a lengthy decline out of the October high, it appears that UNG is bottoming. Price does have overhead resistance to deal with, but this is the first PMO BUY signal we've had since it began its decline in October...
When I ran my scans today, most of them were pretty empty as far as the number of results. However, as usual, I look for a theme among the results that I do get. Gold and Gold Miners had a very good day...
The following chart shows us the normal value range of the S&P 500 Index, indicating where the S&P 500 would have to be in order to have an overvalued P/E of 20 (red line), a fairly valued P/E of 15 (blue line), or an undervalued P/E of 10 (green line)...
As I finished today's free DecisionPoint Trading Room (register here if you haven't already!) the market was just beginning to recover from intraday lows. The recovery was strong and suggests we could see some follow-through over the next day or two...
On this episode of DecisionPoint, Carl takes the reins and leads our discussion, examining how the trading environment has changed over the years and what that means for today's markets...
Most of you are familiar with "bias assessment" given we have a section on it daily. I decided to compare the biases on the SPY, NDX, NYSE and Dow 30 and report it in this Saturday's ChartWatchers newsletter. Let's first do a quick review on bias analysis...
On Wednesday I presented my favorite high yield stocks as "Diamonds in the Rough". All four of those stocks finished higher with the biggest gain at +4.88% and lowest gain +2.75%. The move into value versus growth continues as the tech-heavy Nasdaq was creamed this week...
The three "defensive" sectors, Healthcare (XLV), Real Estate (XLRE) and Utilities (XLU), all lost their PMO BUY signals. What is significant about this is that with the market turning over, we would expect these sectors to enjoy rallies. They did enjoy rallies, but no longer...
Yesterday I began presenting high yield stocks which are "value" plays versus "growth". Growth stocks typically reside in aggressive sectors like Technology and Consumer Discretionary...
The Nasdaq 100 (QQQ) triggered a Price Momentum Oscillator (PMO) SELL signal today as the PMO crossed below its signal line. This is the first of the major indexes to lose its PMO BUY signal, along with the Nasdaq Composite ($COMPQ)...
I have four primary scans that I use to find "Diamonds in the Rough". All four of those scans returned very few results and of the results, I didn't like much if any...
The equal-weight SP500 ETF (RSP) set a new all-time high today, but the SPY did not. What does this mean? It is a clear representation of how mega-cap stock leadership is weakening...