Market Insights
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Assessing the Market With Sector Performance
Market internals is a field of technical analysis that considers how companies within the stock market are performing. A recent article covered breadth, and now we'll turn to sector performance. This technique assesses the S&P 500 by comparing price changes of...
Chart of the Day: Will Goldman Sachs Get Going?
Goldman Sachs has gone nowhere for two months, but some traders may look for that to change. The first pattern on today’s chart is the $374 level. It was a weekly closing price from January 2023 that GS remained below through late December. The stock rallied above it...
S&P 500 Holds Channel, Reclaims 5,000: Market Trends This Week
Downloads are available here. TradeStation’s ideas on TradingView are available here. Register for Market Trends here. Sizing Up the S&P 500 Index holds recent channel, weekly low from 2/5 Wilder's RSI remains near overbought Prices hold rising...
Stocks Cross Historic Level on Strong Earnings, Economic Data
Stocks continue their advance into record territory as earnings beat estimates and recession fears melt away. The S&P 500 rose 1.4 percent between Friday, February 2, and Friday, February 9. It was the 14th gain in the last 15 weeks, and the fifth consecutive...
S&P 500 in Tight Channel Near 5,000: Market Trends This Week
Downloads are available here. TradeStation’s ideas on TradingView are available here. Register for Market Trends here. Sizing Up the S&P 500 Index forming potential ascending channel since mid-January. Making higher lows above previous peak from...
Microsoft and Toyota Break Out as Apple and Tesla Stall
Apple and Tesla have been two of the best performing large stocks for years. But now they may be falling behind two major rivals: Microsoft and Toyota Motor. The charts below demonstrate how AAPL and TSLA remain trapped under recent highs, while MSFT and TM have...
Quadruple Witching Dates for 2024: How Can They Impact Stock and Futures Trading?
What Is Quad Witching? Quadruple witching is an event in financial markets when four different sets of futures and options expire on the same day. Futures and options are derivatives, linked to underlying stock prices. When derivatives expire, traders must close...
Technology & Communication
Chart of the Day: Oracle May Have Found Support
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Chart of the Day: More Upside in Advanced Micro Devices?
Advanced Micro Devices rallied hard on strong results in late July. Now almost two months later, the chip stock may be ready for another move. Notice the slow and lazy pullback since early August, which resolved with a quick test under $100 on Monday. AMD came within...
Cybersecurity, Business Apps, Medical Software: Recent IPOs Are Pulling Back With the Market
Initial public offerings (IPOs) have been active lately as new technology companies come to market. Several names are pulling back along with the S&P 500 yesterday, which may create opportunities for investors. Many of these companies are in fast-growing corners...
Options Alert: Call Buyers Target Breakout in Up-and-Coming Cloud Stock
Datadog, an 11-year old cloud-computing firm, broke out to new highs last month. Today, options traders looked for the rally to continue. More than 20,000 call options changed hands at the 140 strike, plus another 5,000 at the 142 strike. Four contracts accounted for...
IPOs, iPhones and Fed Tapering: Stocks Enter the Home Stretch for 2021
The U.S. economy took a hit last month, but investors may find new opportunities as they come back from the summer. A wave of initial public offerings (IPOs), changes in Federal Reserve policy and technology news could prove catalysts in coming weeks. We'll consider...