October 31, 2012 at 10:06 AM | written by Arthur Hill
A look at the Dow Jones industry groups shows strength coming from the DJ US Building and Fixtures Index ($DJUSBD), the DJ US Industrial Suppliers Index ($DJUSDS) and the DJ US Heavy Construction Index ($DJUSHV). These three groups, which are in the industrials sector, are likely benefitting from the rebuilding required after Hurricane Sandy. Users can click on the names to see the individual stocks within these groups.
Click this image for a live chart.
October 30, 2012 at 1:08 PM | written by Arthur Hill
Bombardier (BBD/B.TO) got a big surge in early September and then formed an extended triangle the last six weeks. Upside volume within the triangle is picking up as OBV moves higher in the indicator window. A triangle breakout would signal a continuation of the September surge.
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October 29, 2012 at 3:02 PM | written by Arthur Hill
TELUS Corp (T.TO) is showing signs of price strength with a channel breakout in late September and a surge over the last four days. This four day surge reinforces support in the 61-62 area. TELUS is on the verge of a breakout, but volume has been weak and has yet to confirm strength on the price chart.
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October 26, 2012 at 12:21 PM | written by Arthur Hill
The uptrend in the Home Construction iShares (ITB) is stalling as three bearish engulfing patterns formed in the 26 area. ITB was poised to break resistance with a surge on Thursday, but failed to hold its gains and continued lower on Friday. The Sep-Oct lows mark key support.
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October 25, 2012 at 12:06 PM | written by Arthur Hill
Nordstrom (JWN) surged last week, but gave back these gains
with a sharp decline the last six days. JWN is now testing support from the
late September low. Momentum abruptly shifted as well. Notice that CCI plunged below
-100 and this may signal that a new downtrend is emerging for JWN.
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October 24, 2012 at 12:03 PM | written by Arthur Hill
With a sharp decline the last five weeks, the Nasdaq is poised to test its rising 200-day moving average. The red line is the 200-day and this key average was last tested in early June. Note that the index is underperforming the S&P 500 as the price relative moved below its early August low.
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October 23, 2012 at 12:24 PM | written by Arthur Hill
The image below comes from a Major Indices Market Carpet. The Dow Industrials is getting hit hard, but the Dow Transports is holding up rather well thanks for strength in UPS. The Nasdaq 100 ($NDX) is also holding up rather well with gains coming from Yahoo and Virgin Media.
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October 19, 2012 at 11:19 AM | written by Arthur Hill
OpenTable (OPEN) shows signs of rolling over as a lower high takes shape and MACD moves below its signal line. Notice that OPEN hit resistance near the 61.80% retracement just above 46. MACD is barely in positive territory and this downturn puts it on the trajectory to turn negative.
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October 18, 2012 at 5:26 PM | written by Chip Anderson
Here's a huge PRO-level chart of the 1-minute price action for Google today:
(Be sure to click it once or twice in order to see it at its full size. PRO members can click here to see a live version.)
Check out the two tiny test trades that got recorded between 1:30 and 1:45. Not sure what those were about. Also, a moment of silence please for the brave traders that bought GOOG during the 12:32 minute - probably before learning what had happened.
October 18, 2012 at 3:25 PM | written by Arthur Hill
Now wonder the Technology SPDR (XLK) is getting slammed. The image below shows the technology sector in market capitalization mode on the Sector Carpet. Three of the biggest boxes are red. Google (1) is down the most, Apple (2) is down almost 2% and IBM (3) is down almost 3%. Weakness in these mega-caps is weighing on market-cap-weighted indices like the S&P 500 and Nasdaq 100.
Click this image for a live chart.
