Charting Stocks

The Dow Jones Industrial Average rose almost 240 points (3.5%) today. As mentioned in a previous post, large daily percentage gains are more consistent with bear markets than bulls. Todays rally was led by banks and REIT’s,  two of the most beaten up and oversold sectors – also consistent with a bear market correction.
Below is [...]

The Dow Jones Industrial Average and the S&P 500 both closed below their 2002 lows.
ChartingStocks.net wrote in our 2009 forecast, contrary to Wall St consensus,  that we expect the Dow Jones to breach the 6,000 level this year and touch upon 5,800. The risk to our outlook would have come if the Dow Jones was [...]

Charting Stocks Weekly Update
Negative divergence has been present in the major average for the past couple of months. Meaning that while the price action of the major averages have been moving higher, some of their respective indicators have been moving in the opposite direction (lower). In a true uptrend, you’d like to see [...]