Art's Charts

May 2013

Art's Charts

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Nasdaq AD Volume Line Hits New High

by Arthur Hill

After hitting new highs in mid May, the major index ETFs moved into consolidation patterns the last two weeks. A little rest, or even a pullback, would be healthy for the uptrend. With this sideway movement, there is no change in the indicator summary... Read More 

Art's Charts

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SPY AD Volume Line Holds the Short-Term Key

by Arthur Hill

Stocks moved higher again on Thursday with mid-caps leading the way. The overall gains were modest though and the major index ETFs remain below Tuesday's highs. The Finance SPDR (XLF) led the sectors here with a 1.2% gain on the day... Read More 

Art's Charts

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Charts of Interest: AAPL, ABX, HCA, JDSU, WNR

by Arthur Hill

AAPL Stalls Just below Neckline Resistance. ABX Breaks Trend Line with Good volume. Plus HCA, JDSU and WNR This commentary and charts-of-interest are designed to stimulate thinking... Read More 

Art's Charts

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SPY Fails to Hold Gap - GLD Continues to Firm

by Arthur Hill

Stocks weakened on Wednesday with the defensive sectors leading the way down. The Consumer Staples SPDR (XLP), Healthcare SPDR (XLV) and Utilities SPDR (XLU) declined 1.5% or more... Read More 

Art's Charts

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SPY and QQQ Gap, but Turn Indecisive after Gap

by Arthur Hill

Stocks got their pop with a strong surge on the open. Even though stocks closed higher, I was not impressed with post-gap price action. In addition, notice that indecisive candlesticks formed in a number of stocks and ETFs... Read More 

Art's Charts

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SPY Bounces after Weak Opens - TLT Remains Weak

by Arthur Hill

Stocks and the Dollar are in uptrends, while Treasuries and gold remain in downtrends. Stocks pulled back on Wednesday and opened weak on both Thursday and Friday. However, buyers stepped in after these weak openings and stocks closed off their lows on both days... Read More 

Art's Charts

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Charts of Interest: AMGN, BSBR, FAST, MOS, IPI

by Arthur Hill

AMGN Corrects with Falling Wedge. FAST Surges and Consolidates. Plus BSBR, MOS IPI This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise)... Read More 

Art's Charts

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Midweek Pullback is not Enough to Affect Bigger Uptrend

by Arthur Hill

Stocks were hit with a reversal day on Wednesday, but this was not enough to affect the bigger uptrends. The AD Lines and AD Volume Lines hit new highs just before the reversal day. Net New Highs remain strong and the offensive sectors are leading again... Read More 

Art's Charts

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S&P 500 AD Line Breaks Short-Term Support

by Arthur Hill

Stocks plunged on Wednesday and firmed somewhat on Thursday. Even though the medium-term trends remain up, the short-term uptrends are in jeopardy and stocks are still ripe for a correction... Read More 

Art's Charts

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IWM Breaks Channel Trend Line - USO Breaks Support

by Arthur Hill

Stocks finally got spooked as the bulls pulled in their horns and the bears showed their claws. The market opened strong and moved higher in early trading, but quickly reversed and moved sharply lower. The Fed got the blame as investors contemplated an end to quantitative easing... Read More 

Art's Charts

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Charts: AAN, BBRY, BTU, CHH, FCX, FDX, SYMC, XME

by Arthur Hill

AAN Fails to hold Breakout. BBRY Underperforms the Market. Plus BTU, CHH, FCX, FDX, SYMC, XME This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise)... Read More 

Art's Charts

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SPX AD Line and AD Volume Line Extend Uptrends

by Arthur Hill

The advance may be slowing, but stocks continue to grind higher. The major index ETFs finished with small gains as the Russell 2000 ETF (IWM) gained .02% and the S&P 500 ETF (SPY) advanced .14%... Read More 

Art's Charts

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QQQ Holds Small Channel as SPY Holds Flag Breakout

by Arthur Hill

Stocks edged higher in the morning and lower in the afternoon. As a result, the major index ETFs finished mixed on the day with the Russell 2000 ETF (IWM) closing slightly higher and the Dow Industrials SPDR (DIA) closing slightly lower... Read More 

Art's Charts

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Charts of Interest: ANF, BSBR, FDX, FNSR, STLD

by Arthur Hill

BSBR Gets Set for another Go at Resistance. FDX Breaks Pennant Resistance. Plus ANF, FNSR, STLD This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise)... Read More 

Art's Charts

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Channels Extend for SPY and QQQ

by Arthur Hill

There are simply no sellers out there. We can argue about low volume levels, the artificial Fed affect and lackluster economic data, but there are clearly more buyers than sellers in the stock market and stocks are rising... Read More 

Art's Charts

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Dollar and Stocks Lead in the Inter-market Arena

by Arthur Hill

Stocks and the Dollar are performing well as both trade near six month highs. This strength is at the expense of Treasuries and gold, which are trading well below their November levels. The US Dollar Index ($USD) is trading at its highest levels since last summer... Read More 

Art's Charts

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AD Lines and AD Volume Lines Hit New Highs

by Arthur Hill

There is no change in the indicator summary as stocks extended their gains again this week. The AD Lines and AD Volume Lines hit new highs. Net New Highs remain firmly positive. Momentum is bullish, if not short-term overbought... Read More 

Art's Charts

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XHB Forms Bearish Engulfing as Treasuries Surge

by Arthur Hill

Stocks were trading flat most of the day, but got hit with selling pressure in the final hour. As a result, the major index ETFs closed modestly lower. The S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) fell around .50% on the day... Read More 

Art's Charts

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Charts of Interest: ALTR, ANN, BG, CIEN, EMC

by Arthur Hill

ALTR surges and forms small flag. ANN breaks wedge resistance with good volume. Plus BG, CIEN and EMC. This commentary and charts-of-interest are designed to stimulate thinking... Read More 

Art's Charts

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SPY Hits Channel Trend Line - USO Breaks Support

by Arthur Hill

Stocks extended their uptrends with modest gains. All of the major index ETFs moved higher with the S&P MidCap 400 SPDR (MDY) and S&P 500 ETF (SPY) leading the way. Both were up just less than 1%. Eight of the nine sectors were up with only the Energy SPDR (XLE) moving lower... Read More 

Art's Charts

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Plunge in Treasuries Fuels Stock Market Surge

by Arthur Hill

Stocks surged and closed strong with small-caps leading the charge. All of the major index ETFs were up, but the Nasdaq 100 ETF (QQQ) and Nasdaq 100 Equal-Weight ETF (QQEW) lagged with relatively small gains (less than .50%). Apple was down sharply and weighed on QQQ... Read More 

Art's Charts

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Charts of Interest: ABC, FLIR, HPQ, PG, T

by Arthur Hill

ABC Forms Bear Flag. FLIR Traces out Rising Wedge. Plus HPQ, PG, T This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise)... Read More 

Art's Charts

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Dollar Holds Break-out as Gold Holds Break-Down

by Arthur Hill

Stocks meandered on Monday as the major index ETFs finished the day mixed. The Russell 2000 ETF (IWM) and S&P 500 Equal-Weight ETF (RSP) edged lower, while the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) finished slightly higher... Read More 

Art's Charts

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Dollar Could Derail Bounce in Oil and Commodities

by Arthur Hill

The intermarket picture is getting interesting with some big moves last week. First, stocks and oil have been moving higher since April 19th. The US Oil Fund (USO) is up almost 9%, while the S&P 500 ETF (SPY) is up just over 5%... Read More 

Art's Charts

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Offensive Sectors Lead Major Index ETFs to New Highs

by Arthur Hill

It does not get more bullish than this, which may be a sign that things are getting too bullish. The AD Lines, AD Volume Lines, major index ETFs and offensive sectors all hit 52-week highs this past week... Read More 

Art's Charts

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Euro Tests Key Support Level as USO Consolidates

by Arthur Hill

Stocks took a little breather on Thursday as the major index ETFs edged lower. The losses were fractional, but the markets were clearly shaken by something in the afternoon. Rumors were swirling that the Fed may hint at changes to its quantitative easing program... Read More 

Art's Charts

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Charts: APOL, DNDN, FNSR, HSY, LAZ, WIN, WTW

by Arthur Hill

APOL Holds Support after Pullback. FNSR Fails to Hold Breakout and Forms Bearish Pattern. Plus DNDN, HSY, LAZ, WIN, WTW This commentary and charts-of-interest are designed to stimulate thinking... Read More 

Art's Charts

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GLD Surges to Resistance as FXE Bounces off Support

by Arthur Hill

Stocks are the place to be, the only place to be. The performance chart below shows the S&P 500 ETF (SPY) up a whopping 15.21% year-to-date. 99.99% of fund managers would kill the other .01% for an annual return like this, not to mention a six month return... Read More 

Art's Charts

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Offensive Sectors Turn Leaders as Defensive Sectors Turn Laggards

by Arthur Hill

Stocks extended their gains on Tuesday with small-caps and mid-caps leading the way. The Nasdaq 100 ETF (QQQ) ended down and showed some relative weakness though. Techs were weighed down by networking and semis. The Networking iShares (IGN) fell 1... Read More 

Art's Charts

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Charts of Interest: A, BOOM, EA, GCI, GT, JNS, NTAP, PG

by Arthur Hill

BOOM Firms in Key Retracement Zone. EA Gaps above Wedge Resistance. Plus A, GCI, GT, JNS, NTAP, PG This commentary and charts-of-interest are designed to stimulate thinking... Read More 

Art's Charts

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GLD Form Flag within a Flag - UUP Holds Breakout

by Arthur Hill

Stocks extended their gains with mid-caps, small-caps and micro-caps leading the way. The Russell Microcap Fund (IWC) was up almost 1% on the day. The sectors were mixed with the defensive sectors on the, well, defensive... Read More 

Art's Charts

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UUP Turns Volatile after Surge - GLD Stalls Near Flag Trend

by Arthur Hill

It seems that market sentiment has done a 180 over the last few weeks. The defensive sectors went from leaders to laggards as the Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) led the market higher... Read More 

Art's Charts

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Bulk of the Technical Evidence Remains Bullish

by Arthur Hill

Stocks remain resilient both short-term and medium-term. SPY dipped in mid April, but surged in late April and hit a new high. The ETF also dipped on Wednesday, but surged to a new high on Thursday... Read More 

Art's Charts

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SPY Surges to New High as TLT Holds Breakout

by Arthur Hill

After getting spooked by the ADP Employment report on Wednesday, stocks greeted the five year low in Jobless Claims with a buying binge that pushed the S&P 500 ETF (SPY) above its April high. QQQ also erased Wednesday's low and hit a new high for 2013... Read More 

Art's Charts

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Small-Caps Underperform and Treasuries Break Resistance

by Arthur Hill

Stocks started the day weak, ignored the Fed and finished the day weak. Small-caps led the way lower with the Russell 2000 ETF (IWM) falling over 2%. The Nasdaq 100 ETF (QQQ) held up the best with the smallest decline... Read More 

Art's Charts

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Charts of Interest: APD, CSCO, CTAS, EL, MDP, STJ

by Arthur Hill

APD Shows Relative Weakness as Triangle Takes Shape. CSCO Fails to Follow Microsoft and Intel Higher. Plus CTAS, EL, MDP, STJ This commentary and charts-of-interest are designed to stimulate thinking... Read More 

Art's Charts

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TLT Consolidates ahead of FOMC - UUP Breaks April Low

by Arthur Hill

Stocks extended their gains with the Nasdaq 100 ETF (QQQ) and S&P MidCap 400 SPDR (MDY) leading the way on Tuesday. Large techs, small-caps and mid-caps showed relative strength yesterday, but the overall gains were muted as we head into a FOMC announcement on Wednesday... Read More