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Chart of the Day: Here’s a Rare Breakout in the Technology Sector

Chart of the Day: Here’s a Rare Breakout in the Technology Sector

Most technology stocks remain well off their highs in 2022, but not Juniper Networks. The maker of routers and switches closed at its highest level in almost 11 years last week. The breakout followed some interesting patterns that may anticipate a bigger move. First,...

Cryptocurrencies Are Holding Their Ground as Potential Positives Mount

Cryptocurrencies Are Holding Their Ground as Potential Positives Mount

Cryptocurrencies have been sitting quietly for most of the year as investors digest potential positives like Ethereum's pending upgrade and more institutional adoption. Bitcoin and Ethereum, the two biggest digital assets, are little changed since the first week of...

Energy Stocks Could Be Hugely Oversold, According to This Chart

Energy Stocks Could Be Hugely Oversold, According to This Chart

Energy is the top performing sector this year, despite two months of weakness. It now appears hugely oversold in comparison with crude oil prices. The first chart shows the ratio of the SPDR Energy ETF (XLE) against crude oil prices. Notice how the current ratio is...

Stocks Are Climbing an Epic Wall of Worry as Earnings Blow Past Estimates

Stocks Are Climbing an Epic Wall of Worry as Earnings Blow Past Estimates

An old adage states that "bull markets climb a wall of worry." It's especially true now. The S&P 500 fell 1.6 percent last Monday, its worst drop in over two months. But it immediately rebounded, and climbed the next four sessions. That resulted in gain of almost...

Earnings Season Begins on a Strong Note, Thanks to Snap and Chipotle

Earnings Season Begins on a Strong Note, Thanks to Snap and Chipotle

Earnings season is off to a bullish start as companies like Snap, Chipotle Mexican Grill and Coca-Cola blitz past estimates. That variety of companies -- social media, casual dining and hospitals -- highlights the breadth of the stock market's earning power. It shows...

Is This Stock the Next Tesla or Nio? Check Out This Technical Analysis

Is This Stock the Next Tesla or Nio? Check Out This Technical Analysis

Electric cars have been one of the most explosive industry groups in recent memory, and now traders may have another name to focus on: smart-vehicle maker XPeng. Several patterns stand out on the Guangzhou-based company’s chart. First, prices recently tested and held...

Here’s How to Be Ready the Next Time Stocks Pull Back

Here’s How to Be Ready the Next Time Stocks Pull Back

Stocks just had one of their sharpest pullbacks of the year, creating opportunities for investors able to quickly discover opportunities. The screenshot below shows TradeStation's Scanner tool. It's programmed to detect stocks trending upward before the crash that may...

Profits Could Jump How Much This Earnings Season?

Profits Could Jump How Much This Earnings Season?

Earnings season begins today with Goldman Sachs and JPMorgan Chase. It could feature the strongest profit growth in half a generation. Analysts on average forecast a profit increase of 64 percent for the S&P 500, according to FactSet. While that sounds impressive,...

Memory Chip Maker Holds Key Level as Market Rebounds: Chart of the Day

Memory Chip Maker Holds Key Level as Market Rebounds: Chart of the Day

This week was cut short by Independence Day. That makes it a good time to view Micron Technology (MU), which seems to have the spirit of 76. The memory-chip maker had a false breakdown below that level on January 27. It quickly rebounded and returned to test $76 three...