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How Would YOU Rank the Magnificent 7 Stocks?

In this edition of StockCharts TV‘s The Final Bar, Dave recaps the continued leadership rotation from growth to value, with SMCI breaking below $1000 and GOOGL dropping a shooting star candle on Monday’s session. He walks through a process to compare and contrast the Magnificent 7 stocks, defining a clear “line in the sand” he’s following on each chart. This video originally premiered on March 18, 2024. Watch on our dedicated Final Bar page on StockCharts TV! New episodes of The...

DP Trading Room: Use a Price Momentum Oscillator (PMO) Sort to Find Winners!

Today Carl and Erin open the show with an example of how you can find stock and ETF relative strength using a Price Momentum Oscillator (PMO) sort. Many may not know but PMO readings can be compared to one another to determine relative strength. Carl gives us a review of the Magnificent 7 and looks at the market in general covering everything from yields to the indexes. Erin takes us on trip through the sectors...

Rates Look Set to Rise as TLT Resumes its Downtrend

The 20+ Yr Treasury Bond ETF (TLT) failed again at the falling 40-week SMA and looks poised to resume its bigger downtrend. Keep in mind that bonds and yields move in the opposite direction. A resumption of the downtrend in TLT translates into a resumption of the uptrend in the 10-yr Treasury Yield. The chart below shows TLT hitting resistance-reversal zones twice: November 2021 and December 2023 (red shading). A key tenet of technical analysis...

Ignore The Naysayers, This Market Is On FIRE!!!

Happy St. Patrick’s Day! Last week was interesting for sure. Both February Core CPI (consumer price index) and February Core PPI (producer price index) came in above expectations. The headline PPI number doubled expectations. Despite that, the S&P 500 managed to close at an all-time high on Tuesday, the day the February CPI data was released. This bull market remains extremely resilient and provides evidence of it nearly every day. The vast majority of market...

GREAT News:  This Bull Market is Expanding!

We have seen just about everything we’ve needed to see to confirm this powerful secular bull market advance since the beginning of 2023. There was really only one thing missing and it’s not missing any longer. I’ll get to that in a minute. But let’s look at the most aggressive sector in the stock market and let’s evaluate the growth vs. value trade that has characterized and driven a tremendous move higher in U.S. equities....

Week Ahead: Technical Setup Stays Weak; NIFTY May See Corrective Pressure At Higher Levels

After inching higher for six weeks with intermittent corrective bouts, Indian equities finally took a breather and succumbed to a corrective move as it ended the week on a negative note. In the previous weekly technical outlook, it was categorically mentioned that the markets remain prone to corrective retracement. In line with this analysis, the headline index Nifty 50 saw a meaningful technical retracement from higher levels. The trading range expanded on the expected lines...

How To Profit From Bullish Gap-Down Reversals

The S&P 500 ended the week with a slight pullback that has this Index closing below its key 10-day simple moving average, but above its 21-day moving average. With the RSI and MACD in positive territory, the near-term uptrend in this Index remains in place. While last week’s orderly price action is in line with four other nominal pullbacks we’ve seen so far this year, there’s been plenty of turbulent price action beneath the surface, as investors...

MEM TV: Risk-Off Signals Possible Downside Ahead

In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews investors’ responses to the rise in interest rates after inflation numbers come in higher than expected. She also shares how riskier areas of the market sold off while cyclicals came into favor. Earnings reports continue to dictate price action as well, and Mary Ellen examines names that impacted the markets. This video originally premiered March 15, 2024. Click here or on the above image to...

Stop Trading In The WRONG DIRECTION With This Simple Rule

On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson shares a little trick out of his own process to make sure he’s trading in the right direction. If you find yourself buying a new stock only to watch it go down, down, down multiple days in a row, or you sell out of a position only to watch that thing go up, up, up; well, it’s a good bet that you are trading in the...

What’s the Downside Risk for QQQ?

The Nasdaq 100 ETF (QQQ) is beginning to show further signs of deterioration, from bearish momentum divergences between price and RSI to weakening breadth using the Bullish Percent Index. How can we determine whether a pullback could turn into something more disastrous for stocks? Let’s look at how the 50-day moving average, Chandelier exits, and Fibonacci retracements can help anticipate downside risk for the QQQ. To kick things off, we need to acknowledge how the QQQ has...