Cryptocurrencies like Bitcoin and Ethereum are climbing. Meanwhile, related equities like Riot Blockchain have barely moved.
The main feature on this chart is the rising 200-day simple moving average (SMA) – perhaps the most popular long-term trend indicator. RIOT touched that line yesterday and is bouncing today.
Next, notice how the 50-day SMA has come down...
Sometimes there’s a lot to be said about nice round numbers. This might be one of those times with Ethereum holding $3,000.
The level has gained importance this month. ETHUSD bounced around $3,000 on August 9, 12 and the last three days. It’s also managed to close above $3,000 each candle on the daily chart.
Next, yesterday’s low of $2,955 is a 23.6 percent...
Financial stocks have bounced in the last two weeks, and Citi is one of the biggest members of the group.
A few patterns stand out on the banking giant’s chart. First is its breakout above the 50-day simple moving average (SMA), followed by a pullback to hold that line.
Next is the late June highs around $71.50, near the current level.
Third, notice how the...
A lot of people forget about International Business Machines. However the 110-year old tech giant’s chart has some interesting patterns.
First and most important is the series of higher lows since early July. IBM has been trapped around the same $144 area where it bounced on June 21. That combination (higher lows + resistance) has produced a bullish ascending...
Boring old pharma names like Pfizer and Johnson & Johnson have plodded higher lately. Bristol Myers Squibb may be following a similar course.
The first chart pattern on BMY is the steady uptrend along its 50-day simple moving average (SMA). Also notice how price fell into oversold territory on stochastics last week.
Next, consider the current price zone around...
Bitcoin has surged more than 50 percent from its July 20 low, but now the rally may see a pause.
Notice how the recent peak near $47,000 almost exactly matches the low from April 25. It’s also near the same level below which sellers got aggressive May 16-18. This is the most significant resistance area Bitcoin has yet faced in the current rebound.
Next,...
The Russell 2000 small cap index led the market between November and March. Now following a healthy period of digestion, it may be coming back to life.
The main pattern on today’s chart is the series of higher lows since July 19. Combined with the resistance line around the 100-day simple moving average (SMA), that’s a bullish ascending triangle.
Next, the...
Amazon.com rallied into its last earnings report, and crashed on a very weak outlook. Now traders may need to mind the price gap that resulted.
So far, AMZN hasn’t even tried to fill that chasm, which creates the risk that it will become a longer-lasting scar on the price chart.
Second, relative strength versus Consumer Discretionaries was slowing before the...
The Nasdaq-100 has led the broader market since early June, but now the tech-heavy index is showing signs of fatigue.
First, consider its falling MACD over the last four weeks. That’s occurred as the index struggles around 15,000, a sign of bearish momentum developing.
Second is the waning relative strength versus the S&P 500. NDX is starting to lag at the same...
The SPDR Financial ETF has been snoozing for exactly three months, and now could be coming back to life.
Several patterns stand out on today’s chart. First and foremost is its breakout above the 50-day simple moving average (SMA).
Next is the tight volatility squeeze immediately before the surge. That suggests price could be ready to move again following a...
After four months of sliding, bond yields may be turning higher.
The first pattern on this chart of the 10-year Treasury Yield is the double-bottom around 1.128%. This corresponds to an oversold condition on the weekly stochastic, which has often marked bottoms for TNX.
Next is the price action in the iShares 20+ Year Treasury Bond ETF (TLT). It tracks...
Cryptocurrency markets have rebounded in the last two weeks. Ethereum has taken the spotlight because of EIP-1559, but now attention could shift back to Bitcoin.
Consider first the daily chart, where Bitcoin is in the process of forming a bullish outside candle. It’s also holding the 21-day exponential moving average (EMA) and trying to break the 100-day simple...
Restaurant stocks had a big surge last month thanks to Chipotle Mexican Grill ’s monster quarter. Starbucks went along for the ride and has now pulled back.
The main thing on today’s chart is SBUX’s gentle retest of $118. That was an old high from April. Traders may now watch for it to become support, especially with the coffee chain having exited a 3-4 month...
Seven out of eight companies have beaten estimates this earnings season, but Netflix isn't one of them. It raises an important question: Has the streaming giant finally hit a long-term peak?
The first potentially bearish pattern on this chart is the falling trendline that began in mid-January. (Yes, NFLX hasn’t made a new 52-week high in 135 sessions. The S&P 500...
Attention has focused on growth stocks for the last two months. Now could be the time to return to industrial names like Ingersoll Rand.
The manufacturing conglomerate has gone nowhere for over five months. However it made a series of higher lows since mid-June while holding below $49.50. The result is a bullish ascending triangle, which now appears to be...
Potential warning signs continue to appear for the S&P 500. We’ve cited narrowing breadth and the rising wedge . Today we’re looking at a highly related symbol: Cboe’s ever-popular Volatility Index, or fear gauge.
The main pattern on VIX is its mild uptrend since the beginning of July. The S&P 500 made new all-time highs 11 different times last month, but the...
Bitcoin miner Riot Blockchain has been skidding lower since February, but now it could be ready to move again.
The main feature on its chart is its jump above the 50-day simple moving average (SMA) on July 26. It’s formed a tight consolidation pattern above the line since. The current action differs from a moment like early July, when it failed to hold above that...
Chinese technology stocks have suffered a violent correction in the last month as Beijing tightens regulations on the sector. As a result, some of most dynamic growth names in recent years are now potential values.
Alibaba in particular stands out because of two patterns on its weekly chart.
First, the hammer candlestick that was just completed.
Second is...
