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The S&P 500 continues to hit new highs, but a strange mix of stocks is leading the advance. Pharmaceuticals, medical devices, insurers and food companies were some of the top performers yesterday. While many of these sectors may not interest retail investors, they...
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 moving average, followed by a pullback to hold that line. Next is...
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...
Restaurant stocks had a big surge last month thanks to Chipotle Mexican Grill's (CMG) monster quarter. Starbucks (SBUX) went along for the ride and has now pulled back. The main thing on today’s chart is SBUX’s gentle retest of $118. That was an old high from April....
The S&P 500 just did something highly unusual: It had two consecutive "outside days." That's when prices make a lower low and a higher high than the previous session. It's often considered a reversal pattern, which makes the activity so interesting. It was only...
Bitcoin miner Riot Blockchain has been skidding lower since February, but now it could be ready to move again. The main feature on its chart is its jump above the 50-day moving average on July 26. It’s formed a tight consolidation pattern above the line since. The...
Energy is the top performing sector this year, despite two months of weakness. It now appears hugely oversold in comparison with crude oil prices. The first chart shows the ratio of the SPDR Energy ETF (XLE) against crude oil prices. Notice how the current ratio is...
Semiconductors have been a key pillar of the S&P 500’s advance since 2016, and now they may be flashing a warning signal for the overall market. This chart of the Philadelphia Semiconductor Index shows how gains have been slowing all year. Prices have squeezed...
Copper had a dramatic run coming out of the pandemic, more than doubling between March 2020 and May 2021. Now, after a period of consolidation, it may be ready for more upside. First consider the ascending triangle that’s formed with a top around $4.35. It’s currently...