This week saw the major equity averages continue a confirmed pullback phase, with some of the biggest gainers in the first half of 2024 logging some major losses. Is this one of the most buyable dips of the year? Or is this just the beginning of a protracted decline with much more pain to come for investors?Today, we'll walk through four potential outcomes for the S&P 500 index over the next six to eight weeks. As I share each of these four future paths, I'll describe the market conditions that would likely be involved, and I'll also share my estimated probability for each scenario.By ..read more

Flying FinancialsIn the recent sector rotation, basically OUT of technology and INTO anything else, Financials and Real-Estate led the relative move.On the RRG above, I have highlighted the (daily) tail for XLF to show how it stands out from the other sectors.On the weekly RRG, XLF is still positioned inside the lagging quadrant but has started to curl back up on the back of the recent strength.The start of the rotation out of Technology translates into a tail for XLK, which has started to roll over inside the leading quadrant. With increased weakness for Technology, Communication ..read more

This will be one of the most interesting quarters in recent memory. The Fed has got to choose its poison. Do they stand pat once again next week, leaving rates "higher for longer" and awaiting more data? Or do they finally take the step that just about everyone is waiting for them to take and start a cycle of interest rate cuts to save our economy from spiraling lower? One side is the inflation side, which perhaps is not convinced that we're out of the woods. The other side, which I'm on, is watching closely as initial economic warning signs begin to emerge. This side believes that the ..read more

After a big run this year, Nvidia (NVDA) fell over 15% from its high and broke its 50-day SMA. On the face of it, a break below this "key" moving average seems like a short-term bearish signal. Such a view, however, would ignore the long term trend, which is the dominate force at work. The first job is to define the long-term trend because this provides perspective and sets the trading bias. Nvidia is clearly in a long-term uptrend because it is well above the rising 200-day SMA and it recorded a new high a month ago. During a long-term uptrend, declines are viewed as corrections that ..read more

In late June, Gilead Sciences (GILD) stock surged following positive results of a late-stage trial for its latest HIV drug. The big market buzz was that Gilead was on the verge of something huge, and investors were not about to wait around for proof. They dove in early, seeing the price jump as a prime "ground floor" opportunity.Expecting a pullback, given the speculative nature of the spike, there were key levels where a bounce could occur, providing an opportunity for you to ride Gilead's momentum, even if just for a swing trade. The bullish thesis worked out, so let's examine what ..read more

Wednesday's price action in the stock market indicated that fear is back. The Cboe Volatility Index ($VIX) closed up by over 22%, the biggest percentage move for the year. There's a chance volatility could remain elevated for the near term—it's the middle of earnings season, the November election landscape has changed, and it's a seasonally weak period for equities. On Wednesday, the S&P 500 ($SPX) and Nasdaq Composite ($COMPQ) experienced the worst trading day of the year. The Nasdaq Composite was hit hard, closing lower by 3.64%. From a big-picture point of view, how much damage did ..read more

In this edition of StockCharts TV's The Final Bar, Dave previews earnings releases from TSLA and GOOGL, breaks down key levels to watch for SPOT, GE, and more, and analyzes the discrepancy between S&P 500 and Nasdaq breadth indicators. See Dave's MarketCarpet featuring the Vanilla color scheme here. This video originally premiered on July 24, 2024. Watch on our dedicated Final Bar page on StockCharts TV! New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link ..read more

In this exclusive StockCharts TV video, Joe explains the 1-2-3 reversal pattern, its criteria, and what it will take for QQQ to complete the pattern. He also discusses how the pattern is not always as clean as we would like. Joe then shares a few Crypto markets which are starting to perk up again. Afterwards, he covers the IWM, plus highlights a few stocks from a specific sector showing recent strength. This video was originally published on July 24, 2024. Click this link to watch on StockCharts TV. Archived videos from Joe are available at this link. Send symbol requests to stocktalk@st ..read more

In this edition of StockCharts TV's The Final Bar, Dave previews earnings releases from TSLA and GOOGL, breaks down key levels to watch for SPOT, GE, and more, and analyzes the discrepancy between S&P 500 and Nasdaq breadth indicators. This video originally premiered on July 23, 2024. Watch on our dedicated Final Bar page on StockCharts TV! New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link ..read more

Almost everyone felt the ground shake on July 19 when security vendor CrowdStrike (CRWD) initiated a faulty software update that caused a Windows systems failure worldwide, and millions of screens displaying the infamous blue screen of death (a.k.a. BSOD). Crowdstrike's stock price fell 11% on Friday and dropped further by over 13% on Monday. I was supposed to check in for a United Airlines flight the day following the incident when I suddenly received an alert that my flight had been canceled. It took only a second to learn that CrowdStrike was responsible for the mess. Preparing for a Crowd ..read more