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Yesterday could have been a significant day for the S&P 500. Let’s consider a few points. First, the index fell 2.6 percent, its biggest drop since October 28’s 3.5 percent selloff. It’s also now slightly negative on a year-to-date basis. Second, SPX made a new all-time high before 9:35 a.m. ET on Tuesday but ended lower. Followed by Wednesday’s slide to a...

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Bitcoin has bled lower for the last three weeks, but some interesting things appeared on the chart today. First, BTCUSD made a brief stab under $30,000 before recovering. That’s not just a psychologically important “round number.” It also matches the consolidation zone at the end of 2020 and the start of this year. That was a key breakout line at the time and...

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Financials were one of the best performing sectors after the Pfizer vaccine news on November 9. They’ve pulled back in the last two weeks, creating a potential opportunity in one of the biggest and most liquid names: Bank of America. BAC is trying to hold $30. Aside from its “round number” status, this level is potentially important for a few reasons. First, it...

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Oracle has been one of the quieter names in tech recently, but the chart is showing signs of a potential rally. The software giant hit new highs in December following a strong quarterly report. Importantly, its newer cloud business surprised to the upside. ORCL then pulled back and has retraced the entire move. Friday and Monday, it held the same $60 level...

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Housing stocks have chopped in a very tight range since October, but now they’re trying to break out. This weekly chart highlights the ascending triangle on the Philadelphia Housing Sector Index. Notice how HGX made consistently higher lows while staying under 405 – that is, until last Wednesday, January 20. Interestingly, the news that day was bearish: NAHB’s...

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The U.S. dollar index has been in a steady downtrend since May. It paused after breaking a short-term trend line on January 8, but the bearish pressure continues. The main thing we wanted to highlight today is the overbought condition on stochastics. Each time it’s reached this high since March, lower prices have followed. It’s also noteworthy that the recent...

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Moving averages are one of the most common indicators in the world of technical analysis. And they’re often the ingredients of more complex indicators like MACD. Today’s script shows how long prices have been moving in a given direction. Similar to our earlier Price Streak script, MA Streak counts the number of sessions that the average is rising or falling. It...

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Relative strength is one of the most useful indicators in the market, highlighting when stocks and sectors are outperforming or underperforming a broader index. Traditional RS compares the percentage change of one symbol over a given time frame and subtracts the percentage change of the S&P 500 over the same period. This is handy, but it can produce false...

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Moving averages are perhaps the most common indicator in the world of technical analysis, highlighting trends over time by smoothing out values. Because they show direction, moving averages inevitably rise or fall. These changes are often obvious in retrospect, but now they can be spotted as they happen with our MA Speed script. This indicator calculates one of...

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Moving averages are one of the most basic tools for technical analysts. They can be useful for both trend analysis and for mean reversion. But how can you know when price is historically overbought or oversold relative to a moving average? Distance from MA can help. This indicator calculates the distance from a moving average as a percentage and plots the result...

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Price is never wrong, but sometimes reading it can be tricky. Movements in the broader market or a sector can distract from a symbol that's been steadily trending in one direction or another. Sometimes the beginning of a move can also be so subtle that it flies under most people's radar. Price Streak can help overcome these limitations by tracking consecutive...

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Volume can help confirm signals we might discover using other methods of technical analysis. This indicator tracks volume intelligently. Its logic spots above-average turnover and then tests against the price change. BrkVol highlights sessions with heavy volume and directional moves. This can help take out the noise and help confirm the trend. Tesla is a...