Retailers Continue Positioning for a Strong Recovery in 2018

The reports on U.S. holiday shopping are coming fast and furious. The early tally looks quite bullish, and retail stocks responded. The SPDR S&P Retail ETF (XRT) jumped 1.1% today to a new high for the year. Surprisingly, trading volume of 3.7M shares remained well below the 90-day moving average of 5.0M. Source: FreeStockCharts.com Reuters … Read more

Above the 40 (December 13, 2017) – A Time to Rest With New Signs Of Stock Market Fatigue

AT40 = 57.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.8% of stocks are trading above their respective 200DMAs VIX = 10.2 Short-term Trading Call: cautiously bullish Commentary The stock market is looking a little tired. The S&P 500 (SPY) closed at another all-time high on Tuesday and at … Read more

Above the 40 (November 29, 2017) – Bullish Divergence Powers Through A Wicked Rotation

AT40 = 59.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.1% of stocks are trading above their respective 200DMAs VIX = 10.7 Short-term Trading Call: cautiously bullish Commentary “Time is ticking away for the bears and sellers as the period between Thanksgiving and Christmas is typically a very mild, … Read more

Above the 40 (September 22, 2017) – Apple Falls from the Tree, the Stock Market Bends Without Breaking

AT40 = 63.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.9% of stocks are trading above their respective 200DMAs VIX = 9.6 Short-term Trading Call: cautiously bullish Commentary The stock market stubbornly held onto its bullish positioning despite the tumble of one of its biggest stalwarts: Apple (AAPL). AAPL … Read more

Above the 40 (September 15, 2017) – Another Missile, Another All-Time High for the S&P 500

AT40 = 60.4% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 53.2% of stocks are trading above their respective 200DMAs VIX = 10.2 Short-term Trading Call: cautiously bullish Commentary North Korea launched another ballistic missile over Japan, this one with enough range to hit Guam. The general market response was … Read more

Above the 40 (July 6, 2017) – A Stock Market Swivel

AT40 = 48.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.4% of stocks are trading above their respective 200DMAs VIX = 12.5 (volatility index) Short-term Trading Call: neutral Commentary Diabolically, the stock market has put my head on the proverbial swivel. I earlier noted how the NASDAQ in particular … Read more

Above the 40 (June 21, 2017) – The NASDAQ Snatches the Baton From the S&P 500

AT40 = 47.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.7% of stocks are trading above their respective 200DMAs VIX = 10.8 (volatility index) Short-term Trading Call: cautiously bullish Commentary Like two ships passing in the night, the NASDAQ, including the PowerShares QQQ ETF (QQQ), took back its advantage … Read more

Chart Review: Apple Changing, BlackBerry Pushes On, Facebook On the Edge, Autozone Breaks Out, Fossil Still Abandoned

Here is my latest review of a few charts that have my attention: Apple (AAPL), BlackBerry (BBRY), Facebook (FB), and Autozone (AZO), Fossil (FOSL). Apple (AAPL) Fourteen (14) trading days have passed since Apple (AAPL) made a new low in its standing downtrend from last September’s all-time highs. The stock has closed above the downtrending … Read more

Chart Review: Autozone on the Edge of a Breakout

Autozone (AZO) was a banner stock coming out of the 2001 recession. In 2001 alone, AZO logged a 152% gain. Over the next six years, AZO gained another 67%. During the financial panic in 2008, AZO plunged but did not even come close to erasing all those hard-fought gains. In 2009, the stock barely paused … Read more

Chart Review: Autozone Comes Back, Cliffs Abandons

I watched Autozone (AZO) this morning stage another incredible comeback from post-earnings selling. In pre-market trading, AZO was down over 3% around $345. By the time trading opened, AZO rushed out the gate at $355. While it looked like a bottoming move, I failed to give the trade a try (with a stop below the … Read more