One of the most interesting things about the rally since early November is the broad participation by smaller companies, and the near-total abandonment of megacaps. For example, the S&P 500 made new 52-week highs in five of December’s first eight sessions. However, only two of the 10 biggest U.S. companies by market cap accomplished the same feat: Alphabet and...
Stocks began this week bordering on complacency, according to various sentiment gauges. Yesterday we got the first potential warning of a pullback as the S&P 500 hit a new intraday high and quickly sold off. That resulted in a bearish outside day, which can be a reversal pattern.
The VIX had just the opposite – a bullish outside day. It also occurred around the...
Target has been one of the most interesting large companies in the last 2-3 years. It’s managed to dodge the retail apocalypse, build a thriving digital business and enamor a new generation of younger shoppers.
The stock pushed to new highs after a strong earnings report on November 18. It then pulled back gently and is now trying to make a higher low above its...
Chipotle Mexican Grill is one of the biggest restaurant survivors of the pandemic. It’s consistently beaten estimates by growing in the digital space.
Like many other beneficiaries of coronavirus, CMG has chopped in a range since September. However, the price action may be pointing toward a breakout.
First, the shares closed yesterday at a trendline running...
Streaming-video giant Netflix has been dead in the water since early July. But now some of its chart features could be getting interesting.
First, NFLX’s range of motion has tightened lately as the rest of the market’s expanded. We can see that in its bullish inside week (beginning November 16). Two small candles have followed as prices inched higher. Bollinger...
Semiconductors have remained one of the strongest corners of the market. Now Skyworks Solutions could be ready to join the rally.
The iPhone supplier has struggled with insider selling despite beating estimates on November 2. But its chart is looking more bullish lately.
The first signal was MACD turning positive back on November 30. That was the same day Morgan...
Most of the high profile ‘FANG’ stocks haven’t done much recently. That is, aside from Alphabet, which is leaving them all in the dust.
GOOGL was the only company worth over $300 billion to hit a new 52-week high yesterday. It was also one of only a few traditional technology stocks to hit new highs, accompanied by a few semiconductor firms like Lam Research and...
As we enter December, it can be useful to look back at some of the companies that struggled the most in 2020. They may offer downside opportunities into yearend.
One of the biggest examples might be debt-laden Teva Pharmaceutical Industries.
TEVA was struggling long before coronavirus, having steadily declined since late 2015. It had a big bounce between October...
Big tech stocks have been snoozing since their frenzied peak in early September. But yesterday, one of the biggest names showed signs of waking up.
Nvidia traded down to $518.89, under Friday’s low. It also traded up to $536.50, slightly above Friday’s high. That’s a bullish outside day, a potential sign of buyers getting active.
The low was also noteworthy...
The Nasdaq-100 has been dead in the water since a frenzy of bullishness in early-September, but now it could be coming back to life.
The first reason is last week’s break of the downward-sloping trendline we observed on November 18.
Second, NDX is pushing again the bearish outside day on November 9. That reversal pattern offered resistance for a while, but now...
Sea Ltd. Is one of the biggest companies people have never heard of – especially after this year’s big run from the $40s to the $180s.
The Singapore-based esports giant had a $90 billion market cap last week. That makes it comparable with Target (TGT) and CVS Health (CVS).
Trend followers may eye the chart for continuation higher into yearend. The first key...
Walgreen Boots Alliance has trended lower since mid-2015. However now it could be showing signs of a historic turn.
The first thing that jumps out on this chart is the false breakdown in late October, followed by signs of a higher low this month. Notice how WBA knifed under $34 before spiking back above $44.
Next, where are prices stabilizing? The current level...
Earlier this month, the iShares 20+ Year Treasury Bond ETF had a “ death cross .” It proceeded downward as expected after that signal, only to rebound. This creates the potential for another continuation trade to the downside.
Today’s idea highlights two other features on TLT’s daily chart. First is the descending price channel in place since the beginning of...
Ethereum had a bullish weekend. It pushed above the previous 2020 high of $489 on Friday morning and quickly proceeded above $500. It held its ground above that level and has continued upward through today.
This is important because there’s no obvious resistance on ETHUSD before the May 2018 high of $832. That’s about 40 percent away. Meanwhile, Bitcoin is near...
EBay was one of the surprise breakouts of early 2020. The online-auction and e-commerce stock ripped to new 52-week highs in May and kept flying on raised guidance in June. The strong numbers kept coming in July and October, but the stock just drifted and then slid lower.
The pullback landed EBAY back at a key level around $47, the old record peak from 2018. It...
Last week we cited the falling trendline in Apple. So far, it hasn’t broken out. Not surprisingly, this pattern appears in other key names like Facebook and Advanced Micro Devices. Most importantly, it’s also on the Nasdaq-100’s daily chart.
The tech-heavy index has been fighting this downward trend for most of November. This morning it made an attempt to rally...
Many stocks have hit new highs this month, but Amgen isn’t one of them.
The biotech may be showing signs of topping out. The main thing jumping off its chart now is the falling 50-day simple moving average (SMA). Current prices have dropped back to the 200-day SMA. If the trend continues, it could produce a “death cross.”
Next, why is AMGN’s 50-day SMA falling?...
United Parcel Service has been one of the bullish surprises of 2020 and the coronavirus pandemic. New CEO Carol Tome has shaken up the once-dull shipping company with a major focus on profitability, launching its share to new all-time highs in July.
The last earnings report on October 28 was also strong. However, investors had “bought the rumor” beforehand and...
