The S&P 500 has climbed for seven straight months. But it may face some near-term challenges as September gets underway.
The main pattern on today’s chart is the resistance line running along the highs since mid-April. Notice how prices have stalled once again at this area.
Next, consider the type of candles at the top of the range: August 31 and September 1...
Believe it or not, Walt Disney is little changed for the year. But now the longer-term uptrend may be ready to resume.
The main pattern on this daily chart is the rising 200-day simple moving average (SMA). DIS has tested and bounced at that line several times in the last month. It’s also held the 50-day SMA, which is almost on top of the 200-day.
Next,...
Tight ascending uptrends are a hallmark of institutional accumulation. Such a pattern seems to be emerging in Bitcoin now.
Notice the lack of significant pullback over the last two weeks. Bitcoin has chopped down a few times, but each time made a higher low: August 12 was higher than August 9, August 19 was higher than August 12, August 26 was higher than August...
After big gains earlier in the year, AMC Entertainment may be ready to move again.
The movie chain’s main technical pattern is the large bullish flag that’s taken shape since early June. It's illustrated above by the falling trend line that AMC recently broke.
Second, AMC returned above the 50-day simple moving average (SMA) this week.
Third, consider the...
After nine months of sideways movement, Qualcomm may be coming back to life.
The main feature on the semiconductor maker’s chart is the “golden cross” of the 50-day simple moving average (SMA) above the 200-day SMA. The pattern occurred last Tuesday, August 24.
Next is the price zone around $145. It was the close following a strong quarterly report on November 5...
Palantir went public to much fanfare almost a year ago. Now after months of doing nothing, the software company may be ready to move again.
The first pattern on PLTR’s chart is the bullish gap following its strong quarterly report (and guidance) on August 12. Since then, prices have stayed above the previous highs and remained in a tight range.
They’ve also...
Snap rallied hard one month ago following strong quarterly results. Now it may be ready to move again.
Notice the bullish gap on July 23 after the social-media platform’s profit, guidance, traffic and revenue beat estimates. SNAP has barely filled any of that gap, which indicates sellers are few and far between. The stock also held its early-July peak around $70,...
Cryptocurrencies like Bitcoin and Ethereum are climbing. Meanwhile, related equities like Riot Blockchain have barely moved.
The main feature on this chart is the rising 200-day simple moving average (SMA) – perhaps the most popular long-term trend indicator. RIOT touched that line yesterday and is bouncing today.
Next, notice how the 50-day SMA has come down...
Sometimes there’s a lot to be said about nice round numbers. This might be one of those times with Ethereum holding $3,000.
The level has gained importance this month. ETHUSD bounced around $3,000 on August 9, 12 and the last three days. It’s also managed to close above $3,000 each candle on the daily chart.
Next, yesterday’s low of $2,955 is a 23.6 percent...
Financial stocks have bounced in the last two weeks, and Citi is one of the biggest members of the group.
A few patterns stand out on the banking giant’s chart. First is its breakout above the 50-day simple moving average (SMA), followed by a pullback to hold that line.
Next is the late June highs around $71.50, near the current level.
Third, notice how the...
A lot of people forget about International Business Machines. However the 110-year old tech giant’s chart has some interesting patterns.
First and most important is the series of higher lows since early July. IBM has been trapped around the same $144 area where it bounced on June 21. That combination (higher lows + resistance) has produced a bullish ascending...
Boring old pharma names like Pfizer and Johnson & Johnson have plodded higher lately. Bristol Myers Squibb may be following a similar course.
The first chart pattern on BMY is the steady uptrend along its 50-day simple moving average (SMA). Also notice how price fell into oversold territory on stochastics last week.
Next, consider the current price zone around...
Bitcoin has surged more than 50 percent from its July 20 low, but now the rally may see a pause.
Notice how the recent peak near $47,000 almost exactly matches the low from April 25. It’s also near the same level below which sellers got aggressive May 16-18. This is the most significant resistance area Bitcoin has yet faced in the current rebound.
Next,...
The Russell 2000 small cap index led the market between November and March. Now following a healthy period of digestion, it may be coming back to life.
The main pattern on today’s chart is the series of higher lows since July 19. Combined with the resistance line around the 100-day simple moving average (SMA), that’s a bullish ascending triangle.
Next, the...
Amazon.com rallied into its last earnings report, and crashed on a very weak outlook. Now traders may need to mind the price gap that resulted.
So far, AMZN hasn’t even tried to fill that chasm, which creates the risk that it will become a longer-lasting scar on the price chart.
Second, relative strength versus Consumer Discretionaries was slowing before the...
The Nasdaq-100 has led the broader market since early June, but now the tech-heavy index is showing signs of fatigue.
First, consider its falling MACD over the last four weeks. That’s occurred as the index struggles around 15,000, a sign of bearish momentum developing.
Second is the waning relative strength versus the S&P 500. NDX is starting to lag at the same...
The SPDR Financial ETF has been snoozing for exactly three months, and now could be coming back to life.
Several patterns stand out on today’s chart. First and foremost is its breakout above the 50-day simple moving average (SMA).
Next is the tight volatility squeeze immediately before the surge. That suggests price could be ready to move again following a...
After four months of sliding, bond yields may be turning higher.
The first pattern on this chart of the 10-year Treasury Yield is the double-bottom around 1.128%. This corresponds to an oversold condition on the weekly stochastic, which has often marked bottoms for TNX.
Next is the price action in the iShares 20+ Year Treasury Bond ETF (TLT). It tracks...
