The market’s pulling back, but you expect the decline to be short-lived. You believe it’s a mere dip, so you’re scanning the market for a few stocks that might be on the verge of a strong upside reversal. One pattern you might want to consider for this type of setup […]
Consumer Sector ETF XRT Has Some Words for You
Tuesday’s Daily was all about the metals. On Wednesday, gold, miners, and silver all rallied. Is the bottom in on this last correction? Perhaps. Two interesting areas to watch now are the one-year PCE rate-adjusted. And the retail sector is now on critical lows. In other words, we can see […]
The Ord Oracle May 30, 2023
SPX Monitoring Purposes: Long SPX on 2/6/23 at 4110.98. Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78. Long Term SPX Monitor Purposes: Neutral. The short term picture is a little messy, with an open gap for May 5 near 407 SPY that still could be tested. But the bigger […]
Pesky Breadth Divergence Persists
The S&P 500 recently moved above its February high to extend its uptrend, but all is not well under the surface. Fewer stocks are participating in the May advance and a key breadth indicator formed a bearish divergence. Bearish divergences form when price records a higher high and an indicator […]
Precious Metals and Miners Ready to Rally
In gold futures, we were looking for a correction to around $1940 an ounce. The June contract fell to $1932. Now, it closed on the exchange at $1958. Plus, it had a new 60-day low and potential reversal pattern. The Gold ETF (GLD) has begun this week trading inside the […]
Sector Spotlight: Will Tech Take a Seasonal Break in June?
In this episode of StockCharts TV’s Sector Spotlight, wrapping up the month of May, I dive into the seasonal characteristics of the markets. I start with a quick look back at seasonal rotation during the current month, then assess the seasonal expectation for the S&P 500 in the coming month of […]
Covered Calls Options Strategy Guide
We’ll go through exactly what a covered call is, how it can be used, the risks and a few variations to mitigate these risk. (We’ve also just published a post on choosing great stocks with which to trade covered calls: Best Stocks To Write Covered Calls) What Is […]
Is This BUD Still For You?
BUD’s stock price has fallen hard, but it may be at a critical buy point. Is the king of beers (or rather, its parent company) a good buy, or is it something to avoid for now? Let’s take a closer look. What Happened to BUD? In April of 2023, the […]