Energy is the strongest sector this year, but is down in the last month. Is it time to buy the pullback?
This chart of the SPDR Energy ETF has some interesting patterns. First are the candlesticks from March 23 and 25: an inverted hammer and then a normal hammer. Both of these are bottoming patterns, which were confirmed when prices bounced in following...
Speedboat maker Brunswick may not get a ton of attention. But it’s exactly the kind of leisure stock that’s zipped higher lately.
First, notice how the stock fought to get above the $90-93 area earlier this year. It broke that zone in early March, briefly probed above $100 and then pulled back.
Buyers defended the old resistance and turned it into new support in...
The crypto market just passed $2 trillion of market cap thanks to a broad rally in altcoins. Now the top altcoin, Ethereum, may be poised for a move to new highs.
The most important feature on ETHUSD’s chart is its breakout above the February high around $2,000, followed by a brief retest and tight consolidation pattern. Old resistance appears to be new...
Financials are the second-best performing sector in 2021. Now one of the biggest names has pulled back to hold some key levels: Morgan Stanley.
MS dipped on the Archegos implosion last week, but reportedly faces no significant losses.
That brought MS down to its 50-day simple moving average (SMA). It tested below that line on March 29 but has managed to close...
From Las Vegas Sands to Live Nation Entertainment and many other stocks, bullish triangles keep popping up in "reopening" plays.
Notice how LVS clawed to a new 52-week high above $66 in early March, stalled and then pulled back to previous highs around $60. Also notice how it briefly tested under that level, along with its 50-day simple moving average (SMA),...
Believe it or not, Bitcoin hasn’t gone anywhere for more than five weeks. But that may change soon.
Tuesday’s close around $58,500 was almost identical to its February 21 peak. BTCUSD chopped lower after that, building support above $40,000. The next consolidation period established support above $50,000 – another higher low.
A few things have happened recently....
General Motors continues to push higher as investors embrace value stocks and the cyclical recovery. Once again the chart is giving some potential signals.
First, the auto maker pulled back to hold the trendline in place since the start of the year. It’s also bouncing near its 50-day simple moving average (SMA).
Second, notice the large bullish candle on...
As Zoom Video Communications continues to struggle, more bearish patterns have appeared on the chart.
First, the recent price action has resulted in a descending triangle, with support around $309. This is a classic continuation pattern, pointing to potentially more downside in coming weeks.
Second, the 50-day simple moving average (SMA) is about to cross below...
XPO Logistics has calmly sat above its old highs for the last four months, and now the chart may be poised for a run.
First, notice the series of higher lows since January 29. Also notice how quickly it’s rebounded from drops – similar to CSX .
Second, XPO’s 21-day exponential moving average (EMA) has risen above its 50-day simple moving average (SMA). This is...
Railroad operator CSX has squeezed into a tight range for almost five months. Now it may be ready for a breakout.
The first pattern jumping off the chart is the ascending triangle with resistance around $95. Prices just started to escape the top yesterday.
Also notice how the lows on January 27, March 4 and March 19 were followed by “kicker” candlestick...
The U.S. Dollar Index has trended steadily lower for the last 10 months. But there are growing signs it has bottomed.
First, DXY managed to break back above its 50-day simple moving average in late February. It then made a higher high (versus earlier in the month), unlike its lower high in late November.
Next, it tried to sell off after the Fed’s uber dovish...
It’s been a year since the market bottomed. Now the S&P 500 may be showing signs of fatigue.
First consider the channel we’ve been watching. Price came down and tested support in a big way in late February and early March. The bulls defended that pullback valiantly, but failed to reach the top of the channel on the bounce. When you combine that with the break...
Travelers doesn’t get much attention, but maybe it should.
The insurance stock trended steadily upward since October. It made a new all-time high above $160 last week when Chubb bid for Hartford. TRV quickly pulled back, creating a potential opportunity for buyers.
Notice the trend line running along the lows of late October and early February. Price held that...
The Nasdaq is trying to stabilize, which could draw buyers back to semiconductors.
Chip stocks like NXP Semiconductors, Broadcom and Lam Research were some of the biggest gainers in the Nasdaq-100 last week. That helped push NDX ahead of the S&P 500 for the first time in five weeks. The relative strength also came amid two positive weeks for the Philadelphia...
Visa broke out to new highs last week. Now it’s pulling back and trying to make a higher low.
The first bullish signal was on February 24, when the 21-day exponential moving average (EMA) rose above the 50-day simple moving average (SMA). That’s a sign of intermediate momentum turning more bullish.
Next, consider the $220 level. It was resistance at the end of...
It’s been a big week for electric vehicles and traditional automakers. Yet, Tesla has drifted aimlessly – a potential sign of momentum fading in Elon Musk’s company.
First, consider the trend line that began in May. After successful bounces along that support in June and November, price has moved below it this month.
Next, the current level is right around the...
Bitcoin’s been on a monster run since the fall, but the recent price action may be showing signs of fatigue.
First, notice how BTC made a new high of $61,785 on March 13, combined with a lower high on MACD. This is a potential case of bearish divergence.
In isolation, bearish divergence isn’t all that meaningful because uptrends often battle falling MACD. But it...
Facebook has gone nowhere since August, but now the social-media giant could be squeezing toward a breakout.
The first interesting chart pattern is the descending trendline running along the November and January peaks. Prices are now challenging that line.
Second, notice how the 50-day simple moving average (SMA) tried to serve as resistance in late February and...
