Tech Testing 9-Year Support, With Fear Levels At 2009 Highs!
Is an important Tech Index sending a bullish message to investors? It is making an attempt! Does that mean a low in this important sector is in play? Humbly it is too soon to say at this time! This chart looks at the Nasdaq Composite Index over the past 25-years on a...
Broadest Of All Stock Indices Testing Critical Support, Says Joe Friday!
One of the broadest indices in the states remains in a long-term bullish trend, where a critical support test is in play. The chart looks at the Wilshire 5000 on a monthly basis over the past 35-years. The index has spent the majority of the past three decades inside...
Crude Oil Crash Follows Topping Signal 11 Weeks Ago
Crude Oil Topping Pattern and Market Crash Charts The importance of crude oil to the world economy cannot be overstated. Even with the rise of alternative fuel resources, oil remains king. This is why I monitor crude oil prices as a potential indicator for the economy...
Home Construction Index Sends Important Signal To The S&P 500
The Dow Jones Home Construction Index sent a bearish divergence message before the financial crisis ever started to unfold. Those investors that weren't aware of this divergence most likely missed a key signal from a very important industry! Is an important signal...
King Dollar Doubling Topping/Peaking, Sending Metals A Super Bullish Message?
The past month has seen global stock markets crash, volatility erupt, and investors flee to the US Dollar in a “flight to quality” move. A recent ten-day period captures the magnitude of this move: From the March 9 low at 94.61 to the March 19 high at 103.82, the US...
Dow Breaking Dual Support At Top Of 70-Year Channel
When two support lines break at the same time, the environment can get rather slippery! This chart looks at the Dow Jones Industrials on a monthly basis since the late 1920s. The Dow has spent the majority of the time since 1950 inside of rising channel (1). It hit...
Doc Copper, Crude Oil & Stocks Testing Must Hold Support, Says Joe Friday!
The past couple of months has delivered a lot of bad news for investors. Several key ingredients to a healthy bull market have fallen sharply, including stocks, Doc Copper, and Crude Oil. In fact, all 3 have entered bear market territory in 2020. For the year, the...
Stock Market Bulls Hope Stocks and Bond Yields Bottom Here!
S&P 500 Index versus 10 Year US Treasury Yield Chart There is a tight relationship between stocks, bond yields, and the economy. Especially in times of steep stock market corrections, bear markets, and economic uncertainty. The simple way of putting it is that...
Gold Miners Testing 12-Year Support, After 50% Decline
Gold miners ETF (GDX) failed to break above resistance on its 4th try a few weeks ago at (1), and then it was met by a large degree of selling pressure. After hitting this resistance, sellers stepped in and drove it down nearly 50% in just a few weeks. The decline...
Investment Grade Bonds Breaking 12-Year Support, As Govt Lower Rates!
Boring Investment Grade bonds could be sending a very important macro message of late! This chart looks at Investment Grade ETF (LQD) on a weekly basis over the past 20-years. LQD formed a bottom in late 2008, several months ahead of stocks. Following the 2008 low,...