May 15, 2013 at 12:18 PM | written by Arthur Hill
The Networking iShares (IGN) moved lower from early February to mid April and then bounced the last five weeks. This bounce is forming a rising wedge and nearing broken support, which turns resistance. RSI is also in its resistance zone (50-60). Thus, the moment-of-truth of truth is near with Cisco reporting earnings after the bell.
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May 09, 2013 at 11:30 AM | written by Arthur Hill
The S&P 500 ETF (SPY) surged to new highs in May, but the defensive sectors did not go along for the ride. The CandeGlance charts below show the Healthcare SPDR (XLV), Consumer Staples SPDR (XLP) and Utilities SPDR (XLU) peaking in late April. XLP and XLV have traded flat, while XLU declined below its 20-day moving average.
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May 06, 2013 at 11:54 AM | written by Arthur Hill
Three of the four Chinese internet stocks shown below broke resistance with surges over the last 1-2 weeks. SOHU hit a new high with a break above 50. SINA broke wedge resistance and then gapped up. YOKU broke resistance with a high volume surge to 20. BIDU is the laggard as it bounces off support from the March-April lows.
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April 29, 2013 at 6:52 AM | written by Arthur Hill
Apple (AAPL) remains in a downtrend overall, but signs of firmness emerged as the stock forged an inside week. This occurs when the week’s high-low range is inside the prior week’s high-low range. Also notice that the stock advanced on the highest upside volume since April 2012.
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April 22, 2013 at 9:43 AM | written by Arthur Hill
It is a big week for earnings so here are CandleGlance charts for six stocks reporting today. Of interest, ACE is hitting support from broken resistance, CAT is nearing the November low, HAL remains in a falling channel and Texas Instruments is testing support.
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April 12, 2013 at 12:13 PM | written by Arthur Hill
Stocks were down in early trading on Friday, but Nvidia (NVDA) got off to a strong start with a surge above 13 and a three month high. NVDA formed a triangle from January to April and broke the upper trend line with this advance. MACD also turned up and crossed into positive territory.
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April 11, 2013 at 12:11 PM | written by Arthur Hill
The Palladium ETF (PALL) fell along with gold last week, but managed to firm near the early March low and bounce off support today. Notice that broken resistance turned into support in the 70 area. The indicator window shows PALL relative to the Gold SPDR (GLD). PALL outperformed from November to early March and relative performance turned flat the last six weeks.
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April 09, 2013 at 5:45 PM | written by Arthur Hill
Intel gave a lift to the MarketVectors Semiconductor ETF (SMH) and Semiconductor SPDR (XSD) with a 3.13% advance on the highest volume since late February. Notice how the stock formed a higher low with the late February surge and then consolidated the last five weeks. A consolidation breakout would signal a continuation higher.
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April 08, 2013 at 8:29 AM | written by Arthur Hill
After falling sharply in April and September 2011, Spot Silver ($SILVER) moved into a trading range with resistance at 36 and support at 26. Silver has touched support at least three times and is poised to test this area again. This marks an important test because a break would signal a continuation of the 2011 plunge.
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March 29, 2013 at 1:47 AM | written by Arthur Hill
It has been a bearish year for Spot Copper ($COPPER) and the recent breakdown points to even lower prices ahead. In addition to MACD turning negative, copper broke triangle support to signal a continuation of the prior decline (2011). The next support zone resides in the 2.80 area.
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