With the NASDAQ $COMPQ picking up steam, we certainly want to see the technology sector $XLK continue to participate. We got a bullish breakout today in XLK, which can seen in the Daily Chart below (front chart), it looks great from a technical perspective. Looking at the Monthly Chart (back), we can see we are up against some Fibonacci resistance […]
In our last post here a couple of weeks ago we mentioned the NASDAQ $COMPQ was starting to outperform the S&P 500 $SPX http://wp.me/p2Oyf5-7m and this so far has worked out as expected. Tonight, I thought I would share a long-term monthly chart of the NASDAQ to see if there might be something behind this out-performance moving forward. Notice the 2 lows above in […]
The NASDAQ, for the most part, has been underperforming many of its counterparts such as the S&P 500 since last fall. We can blame part of this on $AAPL and much of the technology sector but regardless, it has been a tough grind. Just like the tide eventually turns, so does relative strength between asset classes, styles, market […]
General Electric, $GE has a history of leading the markets, maybe because it was a bell weather for so long. In recent market action and with major indices making new highs, it has failed to confirm. Notice it stopped at the 50% retracement off the financial crisis highs, is breaking down on a daily chart […]
I have liked this Country ETF since last summer. It has moved in and out as one of the top ETF’s since then, based on relative strength, despite the recent consolidation to congest it’s gains! Looks like now we may have a bullish setup, after a decent pullback. This chart shows lower highs and lower […]
Since making several posts on Apple Computer and the Nasdaq 100 last fall (here’s a link to a couple http://wp.me/p2Oyf5-1T ) thought I would share an update. First, Apple $AAPL continues to be in a downtrend and Apple remains to be a major component of the Nasdaq 100 $NDX. Second, the $NDX 100 appears to be forming the […]
Here we are some 5 years later from the 2007 top and I’m wondering the same thing now, as back then. Will the $SPX be able to decisively take out the 2000 highs? Will the secular bear market be finally dead? We know from history that long-term bear can markets can last for many years. Now […]
Reblogged from captainjohncharts: Apple has been on fire, with the exception of a brief pullback earlier this year. Looking at a daily chart, there was a clue given that $AAPL was running out of gas back then. The RSI, a momentum indicator that measures the rate of rise or fall in price did not confirm […]
$IGV the iShares Software ETF, broke out to all time highs today. Software stocks have been acting great lately, and we can see that this group represented by this ETF, looks to be giving a relative strength buy signal vs. the S&P 500 (middle chart). Price chart has cleared the base and coupled with a […]
Japan $EWJ has picked up in relative strength as of late and had a nice breakout on a weekly chart. Great looking base and looks like more room to run before encountering more resistance! Thanks for the visit, Captain John
The NYSE Advance – Decline line remains resilient. From http://www.stockcharts.com The Advance Decline Line (AD Line) is a breadth indicator based on Net Advances, which is the number of advancing stocks less the number of declining stocks. Net Advances is positive when advances exceed declines and negative when declines exceed advances. The AD Line is […]
I posted this chart of one of the gold ETF’s, $GLD on twitter and stock twits last night, but I’m sure most people have not seen this type of chart or understand what to make of it. It’s what’s called a point and figure chart. I first learned of these over 15 years ago from my first mentor […]
The Relative Strength here continues to be en fuego! After a brief consolidation, this country fund ETF, $EWW, has reset and appears to want to work higher. The RSI momentum indicator has pulled backed and bounced off support along with price on this longer term weekly chart. Gett’n jiggy with it! Thanks for the visit, Captain […]
You may have noticed a pick up in relative strength in this group. I posted a few weeks back on stock twits, $XSD, and looks like the move is for ,at least for now. So I did a 4 pack today, the ones that had high relative strength and or nice patterns: Chances are better than […]
While I really don’t mind buying certain generic things, every so often they can present a great potential opportunity! Running scans today, I came across this name which not only made a 52-week high but an all time high. Nice breakout of an ascending triangle on a daily chart, followed by some consolidation and another […]
While I don’t see any major problems in the short run in terms of market breadth (persistently more issues climbing than falling) and don’t see any erosion in relative strength for US Equities vs. other Asset Classes, sometimes it can be helpful to take a step back, and look at a longer term view of the […]
One of the most rewarding things for me about following charts, is that you don’t have to stay married to an opinion. This past week we had the S&P 500 continue to move up and kiss up against an intermediate term resistance line on a weekly bar chart, and eventually end up bullishly closing above it […]
The S&P 500 $SPX is coming into a weekly resistance line , and while we won’t know till Friday’s close the significance of this inflection point, I thought I’d share this intermediate term chart with you. While it certainly could break above the resistance, it looks like we have a bearish divergence in the making […]
So far $AAPL is not looking so juicy, at least in after hours trading tonight. I shared this post here back in October, with the idea that we could be in the making of a larger degree head and shoulder top. Please click here to view http://wp.me/p2Oyf5-C Here is an update as of today’s close. […]
