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Stock Market: Beware Today Dictates The Future
All the charts and calculations have shown today to be the day of all days. What does this mean? The market is at a major pivot point on this Tuesday, May 15th, 2012. If the market is able to hold up, investors would experience a one to two week neutral to higher move. If the markets break lower today, down side is likely until the SPDR S&P 500 ETF (NYSEARCA:SPY) hits $129.00. As of now, the markets are squeaking out a slight gain. The SPY is trading at $134.68 +0.55 (0.41%). ...Continue reading here: http://bit.ly/Jh9iw9
Predicted: Facebook Hype Spreads To Zynga, Groupon
Last Thursday, I predicted a bounce higher in the social networking stocks like Zynga Inc (NASDAQ:ZNGA) and Groupon Inc (NASDAQ:GRPN). I described how these two stocks had been hammered with tons of shorts jumping on board. In addition, the Facebook IPO would create a bounce where easy money could be made. ...Continue reading here: http://bit.ly/JwggRs
Bottom In The Making: Miners Reverse Off Lows Again
For the second time in a week, the miners have reversed off early lows. Stocks like Goldcorp Inc. (USA) (NYSE:GG), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Yamana Gold Inc. (USA) (NYSE:AUY) are all off their lows, trying to move to the positive side in an ugly market sell off. These stock have all been hammered in recent months, trading at or near 52 week lows. This second reversal in a week speaks of a possible bottom forming in the sector. Stocks like Goldcorp could be setting up for a multi week bounce higher. Traders are taking note. ...Continue reading here: http://bit.ly/Jw2myH
Home-builder Stocks Show Early Relative Strength
This morning, all of the leading home-builder stocks are showing some early strength despite the over-all stock market weakness. This industry group is displaying good intra-day relative strength and could lead the markets higher if bounces take place in the major stock indexes. Lennar Corp (NYSE:LEN) is considered to be one of the leading home-building stocks in the sector. LEN stock is trading higher by 0.65 cents to $29.10 a share. Short term traders should watch for intra-day resistance around the $29.20, and $29.75 levels. ...Continue reading here: http://bit.ly/JvuVMA
How To: Swing Trading The Facebook IPO
The Facebook IPO is scheduled to debut late next week. This is possibly the most anticipated IPO since Google Inc (NASDAQ:GOOG). While the hype of Facebook makes it a high risk buy at the debut price, there are other ways to swing trade the social networking stock. Both Zynga Inc (NASDAQ:ZNGA) and Groupon Inc (NASDAQ:GRPN) are trading at all time lows. In theory, the hype of the Facebook IPO over the next week should lift these stocks as much as 10-15%. ... Continue reading here: http://bit.ly/INhqJX
Oil Services Sink Again
This morning, all of the leading oil service stocks are declining lower with the major stock indexes. The important Market Vectors Oil Services ETF (NYSE:ARCA:OIH) has been selling off for over a week and this sector is entering short term oversold conditions; therefore, a small bounce in the next few day is possible. The OIH will have intra-day support around the $37.00, and $36.50 levels. ...Continue reading here: http://bit.ly/Jx274B
The Roof Starts To Leak On The Home-builders
All of the leading home-builder stocks are coming under heavy selling pressure today. This sector has been very strong since October 4, 2011. At the time, the leading home-builder stock Toll Brothers Inc (NYSE:TOL) was trading as low as $13.16 a share. Today, TOL stock is trading lower by 0.83 cents to $25.19 a share. TOL stock will have intra-day support around the $24.43, and $23.80 levels. The daily chart of TOL will have short term support around the $23.00 area. ...Continue reading here: http://bit.ly/IHMVVW
Financial Stocks Keep Markets From Coming Unglued
This morning, all of the leading financial stocks are catching a bid higher. This move in the financial stocks comes despite the sharp sell off in the overnight trading session in the futures market. The most important financial stock that any trader can follow is J.P. Morgan Chase & Co (NYSE:JPM). Today, JPM stock is trading higher by 0.25 cents to $42.00 a share. It should be known by almost every trader and investor by now that JPM is a stock that should be treated as a stock market barometer. The stock will likely have intra-day resistance around the $42.30 area. ...Continue reading here: http://bit.ly/Jrib7Q
Stock Market Jittery Over Europe, Jobs
Stocks are trading lower today on the back of a poor ADP Private Sector Jobs Report and continued problems in Europe. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $139.96, -0.78 (-0.55%). Yesterdays ISM Manufacturing Report rallied the markets on hopes that jobs would show a better than expected increase. However, that did not occur and stocks have erased all of the gains from yesterday. ...Continue reading here: http://bit.ly/IEwFpC
Daily Chart: Priceline.com Inc Tags Double Top
Priceline.com Inc (NASDAQ:PCLN) tagged the double top on the daily chart today. This level is between $770 and $775. Double tops are known for being solid resistance points. This means it is likely that the stock will pull back off this level. ...Continue reading here: http://bit.ly/Io8tHE
Alert: Key Stock Levels On Apple Inc.
The price action on Apple Inc. (NASDAQ:AAPL) continues to be poor. The weeks prior to earnings, Apple took a beating. After a one day mega pop on solid quarterly earnings, it is taking a beating again. Today, the iEverything company is trading at $588.59, -14.41 (-2.39%). ...Continue reading here: http://bit.ly/KmAWYO
Home-builders Stocks Hit The Roof
Most of the leading home-builder stocks are now trading into overbought territory. When a stock or sector becomes overbought it will become susceptible to near term pullbacks. Today, most of the leading home-builder stocks are coming under early selling pressure. Toll Brothers Inc (NYSE:TOL) is considered to be the leading stock in the sector. This stock has surged sharply higher since April 10, 2012 when the stock traded around $21.78 a share. Today. TOL stock is declining lower by 0.43 cents to $25.13 a share. This stock is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. The problem with the stock at this time is that it is overbought and will likely need to consolidate or pullback before moving higher. Short term traders can watch for intra-day support around the $25.00, and $24.65 levels. ...Continue reading here: http://bit.ly/InSzwM
Earnings: Chart Analysis For QCOM, VMW, YUM
QUALCOMM, Inc. (NASDAQ:QCOM) reports earnings today. The company is expected to report $0.95-$0.99 profit per share. While the analysts have given their opinions, I find it far more accurate to analyze the charts. ...Continue reading here: http://bit.ly/JaxsgO
Financial Stocks Lead The Charge
This morning, all of the leading financial stocks are trading higher on the session. Goldman Sachs Group Inc (NYSE:GS) is the one financial stock that is trading negative after reporting earnings earlier today. J.P. Morgan Chase & Co (NYSE:JPM) is the most important financial stock that any trader can follow. Today, JPM stock is trading higher by 0.35 cents to $43.68 a share. Short term traders should watch for some intra-day resistance on JPM around the $43.75 and $44.18 levels. Should JPM decline intra-day the stock will have very good intra-day support around the $43.00 level. ...Continue reading here: http://bit.ly/HFdZRn
Amazon Major Trend Line To Watch
Amazon.com, Inc. (NASDAQ:AMZN) hit a major trend line once again today. Note the chart below. This level has been hammered on for months and will eventually break. Look for the stock to see a multi day bounce while forming a bear flag. Next time it goes into that level, it should break. The target would be $167.00. ...Continue reading here: http://bit.ly/HLaRY1
Beware Of The Dow Jones Industrial Average Lead Rally
This morning, most of the leading stocks in the Dow Jones Industrial Average (DJIA) are trading higher. Traders must remember that the DJIA is a price cap weighted index unlike the S&P 500 Index and NASDAQ Composite which are market cap weighted indexes. When a price cap weighted index trades higher it will usually signal that the high priced stocks in that indexes are trading higher. Today, International Business Machines Corp (NYSE:IBM) is the highest priced stock in the DJIA and carries the most weight. This tech giant is trading higher by $1.54 to $204.40 a share. Chevron Corp (NYSE:CVX) is the second largest stock in the DJIA by price capitalization. This leading energy stock is trading higher by $1.01 to $101.79 a share. Just between IBM, and CVX it will likely account for large percentage of the move in the DJIA. Some other large weightings in the DJIA are Caterpillar Inc (NYSE:CAT), 3M Co (NYSE:MMM), and Exxon Mobil Corp (NYSE:XOM). ...Continue reading here: http://bit.ly/IQqBYd
Retail Stocks Slip With Indexes
This morning, many of the leading retail stocks are declining lower to start the session. The important Merrill Lynch Retail HOLDRS ETF (NYSEARCA:RTH) is declining lower by 0.20 cents to $41.28 a share. This ETF will have intra-day support around the $41.25, and $40.93 levels. The daily chart for the RTH is still trading above the 50 moving average and this tells us that the ETF still has some strength.
Rally Today: Market Preps For Major Earnings And Data
Stocks are jumping for the second day in a row. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $138.42, +1.52 (+1.11%). This strong move up is coming prior to major economic and earnings news in the next 24 hours. ...Continue reading here: http://bit.ly/HATuss
Stock Market Analysis: Insight From A Pro
The markets are having a solid snap back rally. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $137.08, +1.24 (+0.91%). A bounce like today is largely expected by intelligent investors as the buy the dip mentality is still alive and well. In addition, European markets did close higher on the day, thus giving the U.S. markets a sigh of relief. The earnings report from Alcoa Inc. (NYSE:AA) also helped the markets bounce. Be aware, the technical damage has been done to this market. While snap back rallies will happen, further downside is likely in the coming days and weeks. ...Continue reading here: http://bit.ly/ICcRNb
Europe Erupts As Cycle Call Nailed Perfectly
After months of calculations and proprietary chart analysis, Chief Market Strategists discovered a cycle pivot point in the market. This pivot cycle date would begin the demise of the current bull raid on Wall Street. It was stated to members that the cycle would have a 'rounded top', then a sharp rollover. ...Continue reading here: http://bit.ly/HyzZ1j
Energy Stocks Heat Up
This morning, the leading energy stocks are catching a bid higher. The catalyst for the stronger energy market is once again the declining U.S. Dollar from the opening bell. Most of the leading energy stocks will inflate and trade higher when the U.S. Dollar Index declines during the trading session. ...Continue reading here: http://bit.ly/H8BUXW
Metals Rally As Dollar Fades
Generally, the leading industrial, and precious metal stocks will be the first equities to catch a bid when the U.S. Dollar Index declines intra-day. This morning, traders can easily see how the SPDR Gold Trust (ETF) (NYSEARCA:GLD), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), and the PowerShares DB Gold Double Long ETN (NYSEARCA:DGP) are all catching an early bid as the dollar retreats from the open. All of these trading vehicles will signal inflation in the stocks market and that is what will usually happen when the U.S. Dollar Index declines. ...Continue reading here: http://bit.ly/H8wlZt
Keys: Apple And JPMorgan Start To Break Down
The market has had one of its biggest non stop rallies in history. This quarter is the best first quarter of any year since 1998. The reasons for the markets success rely purely on the performance of two key stocks, Apple Inc. (NASDAQ:AAPL) and JPMorgan Chase & Co. (NYSE:JPM). Even yesterday, the markets trimmed their losses as both stocks turned early negatives into positive gains. ...Continue reading here: http://bit.ly/Hs3odC
Retail Stocks Feel The Heat
The leading retail sector has been surprisingly strong despite the high price of gasoline in the United States. The Market Vectors Retail ETF (NYSEARCA:RTH) is finally declining this morning. The important and highly followed RTH is trading lower by 0.34 cents to $41.74 a share. Short term traders should watch for intra-day support around the $41.40, and $40.75 levels. The daily chart of the RTH remains in an uptrend as price is still trading above the 50, and 200 moving averages. ...Continue reading here: http://bit.ly/HrO5Se
Steel Could Continue To Melt
This morning, most of the leading steel stocks are trading slightly lower on the session. The important steel sector has been declining since March 19, 2012. The sector still looks as if it can have further downside in the near term before any meaningful bounce can take place. The leading steel stock that most traders follow is U.S. Steel Corp (NYSE:X). Today, the stock is trading lower by 0.41 cents to $28.42 a share. This stock will have some daily chart support around the $27.50, and $26.00 levels. Short term traders can watch for intra-day support around the $28.00, and $27.50 levels. ...Continue reading here: http://bit.ly/HrHm9g
Stocks Retreat As Bernanke Bullets Turn To Rubber
The Bernanke Effect is wearing off. Monday, Federal Reserve Chief Ben Bernanke gave the markets a positive statement towards more quantitative easing. The markets roared sharply higher, making new 52 week highs. However, with the markets trading up 30% since the lows of late 2011 it was short lived. In addition, Ben Bernanke has done his best to use every gun in his arsenal to pump the markets based on nothing but added liquidity and hot air. His bullets no longer have a lasting effect. Early on, the markets were fooled and would rally for days. This latest rally lasted just one full day. The markets have almost negated the entire move higher from Monday. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $139.95, -1.18 (-0.84%). ...Continue reading here: http://bit.ly/Hgrw15
The Falling Energy Sector Has Minor Effect On Indexes
The important energy sector has been declining lower since February 24, 2012. Traders can easily see how the Energy Select Sector SPDR (ETF) (NYSEARCA:XLE) has rolled over since that time. The XLE is now trading below the important daily chart 50 moving average. This formation puts the XLE in a weak technical chart position. Traders can watch for some intra-day support around the $71.00, and $70.00 levels. ...Continue reading here: http://bit.ly/HfWRAO
Agriculture Stocks Fail To Sprout Early
This morning, the leading agriculture stocks are coming under some early selling pressure. This important sector has been very range bound over the past three months. Potash Corp./Saskatchewan (USA (NYSE:POT) is considered one the best stocks in the sector. Today, the stock is declining lower 0.53 cents to to 45.94 a share. Short term traders should watch for intra-day support around the $45.60 and $45.00 levels. ...Continue reading here: http://bit.ly/HduGHq
Gold Mining Stocks Continue To Sink
The leading gold mining stocks have been declining lower since February 29, 2011. At that time, the Market Vectors Gold Miners ETF (NYSEARCA:GDX) was trading as high as $57.91 a share. This afternoon, the popular GDX is trading lower by 0.73 cents to $49.90 a share. This leading gold mining ETF is now trading below the important 50, and 200 moving averages. This current chart formation puts the GDX in a weak technical chart position. Short term traders can watch for intra-day support around the $49.70, and $49.40 levels. ...Continue reading here: http://bit.ly/GVWsb1
Oil Service Stocks Are Still Struggling
This morning, the leading oil service stocks are still trading lower despite the recent stock market rally. The Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading lower by 0.56 cents to $41.22 a share. The OIH should have short term intra-day support around the $41.00, and $40.50 levels. ...Continue reading here: http://bit.ly/GRgW0G
Transports Continue To Give Mixed Signals
The Dow Jones Transportation ETF (NYSEARCA:IYT) is one of the most important charts that any trader can follow. Many investors believe that the transportation index should lead or confirm the Dow Jones Industrial Average in order for the markets to continue to climb. Lately, the IYT has pulled back from it recent high made on March 19, 2012 at $96.22. This leading ETF is still trading above its daily chart 50 moving average which puts the ETF in a position of strength. On the flip side, the IYT has not made new highs with the Dow Jones Industrial Average. Short term traders should watch for intra-day support on the IYT around the $93.60, and $93.15 levels. ...Continue reading here: http://bit.ly/GVbNtc
Diminishing Returns: Bernanke Juices The Markets
The U.S. markets awoke on Monday morning to find Federal Reserve Chairman Ben Bernanke giving a speech on the economy. Any speech where he leaves the possibility of more QE (quantitative easing) on the table helps the markets jump. Today was no different. The futures took off as he spoke, surging off of the worst week in the markets since December 2011. This was a classic chess move to help the markets survive and stay afloat. While off the highs, the SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $140.96, +1.27 (+0.91%). ...Continue reading here: http://bit.ly/H9lo9V
Base Metal Stocks React Poorly To The Bernake
This morning, all of the leading base metal stocks are fading from their gap higher open. Around 8:00 am EST, the Federal Reserve Chairman Ben Bernanke stated that he would consider more accommodating policies for the U.S. economy in order to stimulate job growth. This statement crushed the U.S. Dollar Index futures (DX-M2) and spiked the stock markets higher. At the start of the day, leading commodity and base metal stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), Southern Copper Corp (NYSE:SCCO), and Cliffs Natural Resources Inc (NYSE:CLF) where sharply higher. These stocks and others have now faded from their high made at the open. Should these leading stocks go negative it will be a negative sign for the major stock market indexes. ...Continue reading here: http://bit.ly/GRMl5H
Two Retail Stocks Not Yet Hurt By High Gasoline
High gasoline prices will usually hurt most leading retail stocks eventually. Gasoline prices just reached a new three year high on March 23, 2012. High gasoline prices are considered a direct tax on the U.S. consumer. Most investors know that consumer spending accounts for roughly 70.0 percent of the gross domestic product in the United States. The important retail sector has remained very strong. Since December 2011, the important Market Vectors Retail Holders Trust (NYSE:RTH) has traded higher with the price of gasoline. In this week's report, we shall examine two leading retail stocks which continue to remain exceptionally strong at this time. ...Continue reading here: http://bit.ly/GRI4z8
Three Stocks Now Control The Entire Market
As you all know, the trading volume has been very light since late December 2011. Light trading volume will generally favor the upside action in the stock market. For years now, the volume has been extremely light when the market indexes trade higher. The heavy volume comes when the selling begins. Everyone should remember the old market adage that states, never short a dull market (light volume). In this light volume trading environment there are three stocks that are controlling the entire stock market. These stocks are J.P. Morgan Chase & Co (NYSE:JPM), Apple Inc (NASDAQ:AAPL), and Exxon Mobil Corp (NYSE:XOM). Sure, there are other important market leaders such as Goldman Sachs Group Inc (NYSE:GS), Amazon.com Inc (NASDAQ:AMZN), and Google Inc (NASDAQ:GOOG), however, they are not carrying the same weight as the first three stocks mentioned. ...Continue reading here: http://bit.ly/GRFyJO
Market Analysis: Buy The Dip Trying, But Weaker
After a substantial morning sell off, the markets are trying to bounce back. This is the classic buy the dip mentality that still prevails in this market. This shows us there is still retail money clamoring to buy as the institutions distribute. Overnight, China PMI data hit the futures hard. With Europe still a mess and China slowing drastically, the outlook for the U.S. economy is getting clouded. Institutions understand this and are selling slowly as the retail investor is buying. Retail, amateurs always buy the tops and sell the bottoms. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $139.23, -0.93 (-0.66%). While still lower, the SPY had been down to $138.75. This is a $0.50 bounce from the lows, all since 11am ET. ...Continue reading here: http://bit.ly/GGXRAM
The Dollar Dips Again After The Opening Bell
Nearly every trading session when the U.S. Dollar Index futures (DX-M2) are stronger before the opening bell at the New York Stock Exchange (NYSE) they will sell off after the open. Yesterday, and today are perfect examples of this phenomenon. Obviously, we should all know by now that a weaker dollar will ultimately help to inflate the stock markets higher. The extremely light trading volume is usually bullish for the stock markets as there are simply no sellers in the marketplace. When you combine light volume with a falling U.S. Dollar it will usually create a perfect elixir for higher stock prices. ...Continue reading here: http://bit.ly/GHc7v9
Airline Stocks Take Off As Oil Drops
This afternoon, most of the leading airline stocks are catching a bid higher as the price of crude declines. The current chart pattern on many of the popular airline stocks still signals further declines despite today's bounce. Should oil begin to decline further over the next few weeks that could help the airline sector, however, that is unlikely with the current problems in the Middle East. The Claymore/NYSE Arca Airline ETF (NYSEARCA:FAA) is trading higher by 0.12 cents to $28.98 a share. Until this ETF can trade above the $30.00 level it could be consolidating to trade lower soon. ...Continue reading here: http://bit.ly/GF2LLW
Google Daily Resistance Levels
After reporting ugly earnings in January, Google Inc (NASDAQ:GOOG) collapsed to a low of $565.00. In the meantime, the market has continued to rally, and the stock has recovered dramatically, surging back towards the major gap fill from that fateful earnings release. This will serve as resistance for the stock and should be a short term top on the stock. The level to watch is $641.00. ...Continue reading here: http://bit.ly/GAXTrl
Understanding Market Emotion As China Fear Jumps
The markets are trading lower today after worries on the Chinese economy surfaced once again. A Chinese slowdown has been long talked about but has had little effect on the massive rally in U.S. equities. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $140.00, -0.88 (-0.62%). ...Continue reading here: http://bit.ly/GB6P4m