With the market under pressure, some investors have sought refuge in consumer staples. But some, like PepsiCo, have also struggled.
The first pattern on today’s chart is the series of lower highs and lower lows since Jerome Powell’s hawkish Jackson Hole speech on August 26. These have produced something of a descending channel, with PEP ending yesterday’s session...
U.S. Treasuries have gone through a period of historic turmoil as the Federal Reserve starts shrinking its balance sheet. Today’s weekly chart considers just how dramatic the moves have been using the 10-year note’s yield index (TNX).
The first thing that stands out is the accelerating rate of change since about March 2021. This chart shows ROC with a nine-week...
Exxon Mobil has been drifting since the late spring along with other energy stocks. But now it’s trying to do something it hasn’t done all year.
The main pattern on today’s chart is the 200-day simple moving average (SMA), one of the most basic measures of long-term support. XOM tested that level yesterday for the first time since December, which could draw some...
Electric vehicles have been in focus since the Inflation Reduction Act boosted green-energy incentives. Let’s check out Rivian Automotive, the truck maker trying to stabilize after a big slide.
The main pattern on today’s chart is a parallel channel forming between roughly $30.80 and $40. RIVN initially bounced at the low in mid-June before proceeding to a...
Target gapped lower on weak earnings four months ago. Now it may be showing signs of the bearish trend continuing.
The main pattern on the retailer is a converging squeeze between the 50-day simple moving average (SMA) and the 100-day SMA. This has produced something of a triangle that TGT is now breaking to the downside.
Today’s chart also features our 2 MA...
The Federal Reserve’s hawkish policies this year have punished megacap growth stocks, as most traders know. The resulting gloom has dragged two of the market’s four trillion-dollar companies to potentially important levels: Microsoft and Alphabet .
Both hit new 52-week lows yesterday and are near levels where they bounced earlier in the year.
MSFT slipped...
Lots of interesting things have been happening in the market lately. Today we’ll consider those, plus what isn’t happening in Tesla.
First, the S&P 500 knifed below its 50-day simple moving average (SMA) in early September. TSLA, on the other hand, bounced at its 50-day SMA.
Next, the bigger index saw its price ranges widen as volatility increased. TSLA’s, on...
The S&P 500 just closed at its lowest level in about two months. Southwest Airlines, on the other hand, ended last week at its lowest price in over two years . Is that a sign of incipient weakness in the carrier?
This chart shows the series of lower highs since the spring. LUV held roughly $35 over this time, resulting in a potentially bearish descending...
Will the S&P 500 break out or break down as the Federal Reserve meeting approaches next week? Today we’re looking at two charts to help navigate the coming sessions.
First is the daily chart with RSI and the 10-day simple moving average (SMA). A certain pattern has appeared at least four times in the last year. It involves the index languishing after a drop but...
Clean-energy stocks have been one of the strongest parts of the market lately, and today’s chart focuses on a new battery-tech name: Stem.
The first pattern is the quick uptrend in late summer, fueled by the Inflation Reduction Act and strong quarterly results on August 4.
STEM halted at the December low of $16.76 and bounced twice around $13.60. The result is a...
Occidental Petroleum is the biggest gainer in the S&P 500 this year, but was the biggest decliner last week. Is the dip an opportunity for the bulls?
The first pattern on today’s chart is the surge to a new 52-week high in late August. It is one of only 12 S&P 500 members to hit a new high in the last two weeks (and the only energy company.) That relative...
On Semiconductor is one of the few chip stocks to hit new highs this summer. It then pulled back along with the rest of the market, and is now bouncing.
The first pattern on today’s chart is the falling trendline along the peaks of January, March and June. ON broke that resistance in early August and is now turning it into support.
Second, the 50-day simple...
Equity-market sentiment has tilted heavily toward the bears recently as investors brace for more rate hikes. But there could be signs of nearing a bottom.
The first pattern on today’s chart of the S&P 500 is the 3910 price level . It’s near the peak on July 8 and the low on July 26 – immediately before the index accelerated toward 4300.
The current pullback is...
Alternate energy has shown relative strength since the Inflation Reduction Act took effect in August. Lithium provider Albemarle is a potential beneficiary.
The first pattern on today’s chart is the trendline running along the highs of November and June. ALB ripped through that line three weeks ago before pulling back. It’s now attempting to bounce at the same...
Boeing rallied in July, but now it could be losing altitude.
The main pattern on today’s chart is the trendline running along the highs of mid-January and mid-February. The latest rebound saw prices revisit -- but not break -- this line.
Second is the April 11 low of $173.40. BA tested that level in mid-August before rolling over. Has old support become new...
EQT is a natural-gas fracking company that’s benefited from Europe’s energy crisis. It may also be attempting a breakout.
The main pattern on today’s chart is the low near $31 in early July and the higher low above $40 one month later. The combination could be a cup & handle, a potentially bullish continuation pattern based on the previous uptrend.
Next, the...
Oilfield-services provider Schlumberger has been grinding higher for weeks. Now amid a brief pullback, it could soon offer buyers a potential opportunity.
The first pattern on today’s chart is the series of higher lows since mid-July. SLB hit resistance several times around $37.20 before breaking out on August 23. Traders may look for support to form near the top...
Advanced Micro Devices has bounced sharply from its early-July lows, but some patterns could be pointing lower for the chip stock.
The first pattern on today’s chart is the descending parallel channel that’s been in effect most of the year. AMD’s latest highs represented a failure at the top of the channel, which could make some traders think prices will revisit...
