Tech Sector Breaking Above 17-Year Fibonacci Resistance Level!
This chart looks at Tech ETF (QQQ) on a monthly basis over the past 20-years, where Fibonacci extension levels were applied to the 1999 highs at (A) and the 2002 lows at (B). Last September QQQ met a ton of selling pressure on its first attempt to break above the 161%...
Are Bank Stocks About to Give a Thumbs Up to Investors?
One week ago, I wrote about the Bank Index (BKX) and the prospects for a breakout. Here’s an excerpt on why the banks are so important to the broader market: “One of the most important sectors of the stock market is the banking industry and bank stocks. When the banks...
S&P Needs This Key Indicator To Experience A Breakout!
Is a leading Tech sector about to send the broad market a key message? In our opinion, yes! This chart looks at the Semiconductor/S&P ratio over the past couple of years. When the ratio peaked around March of last year at (1), numerous indices in the states (NYSE,...
Apple Bullish Breakout Suggesting Tech Follows In Its Path?
Is Apple sending a bullish message to the overall Tech market? Sure could be Apple (AAPL) is working on a breakout above last year's highs at (1), after creating a series of higher lows over the past year. Tech ETF QQQ has been a similar-looking pattern to Apple over...
Bank Index Breakout? Stock Market Bulls Sure Hope So
One of the most important sectors of the stock market is the banking industry and bank stocks. When the banks are healthy, the economy is likely doing well. And when bank stocks are participating in a market rally, then it bodes well for the broader stock market. In...
High Times Going To Return For Pot Stocks?
High times for pot stocks do not come to mind when looking at this 6-pack! On average, these stocks have declined nearly 50% since recent highs. Are pot stocks about to experience "High Times" again? The large declines since recent highs has each of these stocks...
Banks Should Send Critical Message To Stocks This Week!
Bank earnings could go a long way to impacting the broad market in a big way this week. Wells Fargo, Goldman Sachs, Bank Of America, JP Morgan, Morgan Stanley all announce earning the next couple of days. As these earning announcements are to take place, the Bank...
New Gold Bull Market? Not Until This Happens!
After a big summer rally, Gold peaked out at $1566/oz in September. Since then, Gold prices have been consolidating between $1475 and $1550. So what’s happening here? Enter the Swiss Franc currency… In today’s chart, we look at a key indicator (and correlation) for...
Semiconductors About To Send Strong Bullish Message To Stocks?
Sir John Templeton used to say that the four most dangerous words in investing are; "It's Different This Time." Investors might want to keep a close eye on this ratio to see if the results will be different this time! This chart looks at the Semiconductor/S&P 500...
New York Stock Exchange Ready To Send An Important Message To S&P 500?
Is the New York Stock Exchange Index (NYSE) about to send the S&P 500 a fresh bearish message? Possible! The NYSE index has been much weaker than the S&P 500 for the past couple of years (see lower right ratio chart). The NYSE index actually peaked in January...