How does the line from the movie The Godfather go? "Just when I thought I was out , they pull me back in." That's an apropos description of for crude oil prices of late. Just when it looked like oil was going to break out of a short-term slump and rekindle a long-term recovery move, something goes wrong to put the brakes on the effort. There is good news though. That is, the lines in the sand have been clearly drawn, and crude is still within easy striking distance of them. The chart of crude oil futures prices below has a lot going on, but we'll just address them all one thing at a time. First and foremost, after the effort petered out in early August, the mission of climbing back above the 200-day moving average line (green) was renewed in early September. The July peak of $50.40 (solid orange… more
By Rebecca Ungarino, CNBC The chances of an interest rate hike announcement in December have increased in recent days, according to a new Bank of America report published ahead of the Federal Reserve's meeting this Wednesday. "Interestingly, market expectations for December have climbed higher over the past few days, pricing in nearly even odds of a move in December," strategists... more
It's been several weeks — maybe too many weeks — since we took our last look at how each major sector was performing in comparison to one another. We'll make up for lost time today. It would be time well spent. An estimated 40% of an individual stock's movement can be attributed to its sector, meaning all of its peers... more
All eyes on Yellen as the stock market awaits Fed’s two-day meeting By Mark DeCambre, MarketWatch Wall Street investors have shrugged off recent worries to propel stocks to fresh all-time highs, but this week’s meeting of Federal Reserve policy makers might provide investors the clearest sign yet about the health of the U.S. economy and how the central bank is... more
Against the odds, stocks managed to reverse the weakness from a couple weeks ago and log a gain last week. In fact, most of the major indices ended the week at all-time record highs, looking for more. It's certainly a good sign, even if the bullishness is playing out at a time of year — the month of September —... more
By Annie Pei, CNBC The big tech rally is starting to lose steam, according to trader Todd Gordon, who says that as a result, it's time to bet against the sector. "We've been watching the tech sector underperform lately, and I think we're starting to carve out a top," the TradingAnalysis.com founder said Thursday on CNBC's "Trading Nation." To make... more
It's becoming an all-too-familiar story. And, though switching the focus from the S&P 500 and the NYSE to the NASDAQ Composite provides us with a little bit of variety, the message is still the same. That is, there's just not enough participation in ANY of the market's recent rally efforts to allow stocks to achieve escape velocity. The only reason... more
Trend Watch, TRENDSCORE, webinars, technical analysis e-book, and more!