Megacap technology stocks like Apple have dragged on the market amid disruptions in China. But what if the iPhone giant manages to bounce? Could it give the bigger indexes a boost?
The main pattern on today’s chart is the $140 level. This price first had importance on November 8, when AAPL first tried to rebound from its China-related weakness. It was resistance...
Big pharma hasn’t gotten the memo about there being a bear market. Just look at Amgen.
The biotechnology stock jumped to a new record high on November 8. The breakout followed a strong earnings report and data about its olpasiran cholesterol drug.
It’s consolidated in a tight range since then, demonstrated by the narrowing of Bollinger Bandwidth. That may...
United Airlines has been going sideways for 2-1/2 years, but now it may be getting ready for takeoff.
The first pattern on today’s chart is the series of higher lows over the past month as prices remained below November 11's closing price. The result was an ascending triangle that UAL escaped yesterday.
Next, Bollinger Band Width narrowed last week to its...
Enphase Energy has quietly emerged as a market leader in 2022. Is it now ready for a final run into yearend?
Notice how the solar-energy stock made a series of higher lows since mid-October. Prices remained below roughly $320, a previous closing high from September. The result was an ascending triangle, which ENPH escaped on Friday. That could signal a...
Marriott has gone essentially nowhere since the pandemic began almost three years ago. But now the hotel giant could be getting ready to move.
The first pattern on today’s chart is the tight consolidation over the past three weeks. Notice how MAR has stayed above its 200-day simple moving average (SMA). It’s a change from August and September, when prices were...
Schlumberger broke out to new multiyear highs last month, and now it’s pulled back.
The first pattern on today’s chart is the June peak of $49.83. Strong quarterly results drove the oilfield servicer through that level on October 21. Two retests occurred in November, but it held both times. Has old resistance become new support?
Next, SLB is currently trying to...
The S&P 500 slid on Monday, but the dip could fit into a bigger continuation pattern. If correct, it may interest the bulls.
Notice the series of higher lows since tame CPI numbers launched the index higher on November 10. Also consider how SPX made highs in the same area on November 15 and 22. The result could be an ascending triangle with upside breakout...
Financials like Citi have bounced sharply since mid-October. But now the move could be showing signs of fatigue.
The first pattern on today’s chart is the series of lower highs since November 11. Combined with the low around $47.40 on November 17, that could form a bearish descending triangle that prices are now threatening to break.
Next, consider the weekly...
Diabetes company DexCom has been fighting higher since June, and now it may be interesting to trend followers.
The first pattern on today’s chart is the pair of bullish gaps last month.
The initial rally came after the Centers for Medicare and Medicaid Services proposed expanding access to one of the company’s glucose-monitoring products. The second was...
An under-the-radar trend in recent weeks has been strength in legacy retailers like Macy’s , Gap and Ross Stores. Today’s chart focuses on a potentially bullish pattern in peer Ralph Lauren.
Notice the series of higher lows since November 10, when earnings and revenue beat estimates. There’s also a resistance zone around $104.50. The result is an ascending...
H&R Block started rallying in May. Now, after three months of consolidation, it may be starting to move again.
The first pattern on today’s chart is the price level at $37.53. It was a previous high from November 2015 where HRB bounced in October and earlier this month. Has old resistance become new support?
Next is the falling trendline along the highs of...
An important level has emerged on the S&P 500 in the second half of 2022. Yesterday it held as support, which may be an important signal for traders into yearend.
The index has chopped on either side of approximately 3910 since early July. Initially resistance, the price area served as a springboard for August’s sharp rally. It then briefly provided support in...
It’s often interesting to find stocks making new highs when the market tanks. Today’s chart focuses on such a name: Harmonic.
Notice how the provider of video software advanced in late September and early October as the S&P 500 and Nasdaq-100 hit new 52-week lows.
That relative strength followed an Analyst Day on September 15. Heavy volume occurred as prices...
Metal stocks have fought higher all quarter, and now a key steelmaker may be attempting a breakout: Nucor.
The first pattern on today’s chart is the series of higher lows since late last month. NUE was stuck below $137 (the close of on October 26) for several weeks, which produced an ascending triangle. But prices broke out on November 10.
Second is the summer...
The third quarter wasn’t great for earnings overall, but some companies managed to impress. One of them was McDonald’s.
The main pattern on today’s chart is the breakout to new record highs after the fast-food giant beat forecasts on profit, revenue and comparable sales.
Next is the consolidation pattern preceding the rally. MCD spent most of 2022 trapped below...
Risk on or risk off? Those kind of sentiment changes are one of the most important things for traders in the stock market. Today gave an example of how quickly the herd can sometimes pivot.
Tesla, a classic “risk on” name recently struggled near 52-week lows, while “safe-haven” Eli Lilly pushed to new record highs. But Thursday’s rally on softer inflation...
Yesterday’s CPI report was a reminder that, despite how it feels, the inflation crisis might not last forever. This raises the question of how to think about the Federal Reserve, and makes us look back to previous moments in history.
The most relevant precedent could be 1994 and early 1995, when policymakers doubled their target rate from 3 percent to 6 percent....
Today’s cooler readings on inflation and jobless claims were welcome news for stock-market bulls. They could be even more important for the Treasury market.
Today we’re considering the yields of the of two-year (US02Y) and 10-year (TNX) notes.
The two-year shot to a 16-year high above 4.8 percent on November 4 after non-farm payrolls but failed to hold: a...
