On a title basis, a SP 500 has postulated a mangle atop a 200-day relocating normal — expected signaling a primary trend change — while a Nasdaq Composite has belatedly damaged out, tagging three-month highs this week.
Before detailing a U.S. markets’ wider view, a SP 500’s
SPX,
+0.31%
hourly draft highlights a past dual weeks.
As illustrated, a SP has postulated a late-May breakout.
Tactically, a May rise (3,068.7) purebred only underneath successive insurgency during a Dec low (3,070). Tuesday’s early eventuality high (3,072) has also effectively matched resistance.
Conversely, a SP has postulated a mangle atop a 200-day relocating average, now 3,004, opposite 4 true sessions.
Similarly, a Dow Jones Industrial Average
DJIA,
+0.63%
is digesting a late-May breakout.
In a case, a May rise (25,758) closely matched a Feb opening (25,752), minute previously, an area also illustrated on a daily chart.
Conversely, a 25,000 pitch has underpinned a Dow’s initial pullback.
Against this backdrop, a Nasdaq Composite
COMP,
-0.10%
has belatedly damaged out, reaching three-month highs to start June.
The prevalent upswing punctuates a successful exam of vital support (9,323). Friday’s eventuality low (9,324) matched a rhythm point.
Widening a viewpoint to 6 months adds perspective.
On this wider view, a Nasdaq has postulated a mangle to three-month highs, progressing informed opening support (9,323).
Moreover, a index has filled a large Feb opening this week. Record domain is increasingly within distinguished distance.
Beyond technical levels, a Nasdaq’s prevalent backdrop supports a bullish near-, intermediate- and longer-term bias.
Looking elsewhere, a Dow Jones Industrial Average diverged final week, defilement decisively atop vital resistance.
To reiterate, a May rise (25,758) closely matched insurgency during a Feb opening (25,752). The initial pullback from insurgency has been orderly.
More broadly, a upswing noted a dual customary flaw breakout, punctuated by a sole tighten atop a 20-day Bollinger bands. (The Dow narrowly missed consecutive closes atop a bands, a some-more definitively bullish event.)
Meanwhile, a SP 500 has postulated a mangle atop a 200-day relocating average, now 3,004.
Here again, a initial dermatitis encompassed a single tighten atop a 20-day Bollinger bands.
Conversely, a SP has primarily balked during successive insurgency (3,070). Tuesday’s early eventuality high (3,072) has matched insurgency and medium offered vigour has resurfaced.
The bigger design
Collectively, a bigger-picture backdrop continues to strengthen amid rotational marketplace cost action.
On a title basis, a SP 500 has postulated a mangle atop a 200-day relocating average, while a Nasdaq Composite has rallied from vital support (9,323). (See a hourly charts.)
Moving to a small-caps, a iShares Russell 2000 ETF is digesting a wilful late-May breakout.
Last week’s upswing noted an surprising dual customary flaw dermatitis encompassing consecutive closes atop a 20-day sensitivity bands. Though near-term extended, and due to consolidate, a high convene is longer-term bullish.
Separately, a successive pullback has been underpinned by a dermatitis point. Constructive cost action.
Similarly, a SPDR SP MidCap 400 ETF has postulated a wilful late-May breakout.
Combined, a small- and mid-caps’ resurgence signals broadening participation, and is technically constructive.
Looking elsewhere, a SPDR Trust SP 500 is digesting a important mangle atop a 200-day relocating average, now 300.00.
The SPY has notched 4 true closes atop a 200-day, and is opposed Tuesday for a fifth.
Placing a finer indicate on a SP 500, a index has postulated a potentially material mangle atop a 200-day relocating average, now 3,004.
Recall that a late-May upswing noted a 1%+ mangle atop a 200-day — on a initial exam from underneath — signaling surprising bullish momentum.
Separately, a upswing noted a bullish dual customary flaw breakout, punctuated by a singular tighten atop a 20-day Bollinger bands. (To be sure, a SP missed a some-more definitively bullish consecutive closes atop a bands.)
Against this backdrop, a SP has primarily balked during a successive important insurgency (3,070).
The May rise (3,068.7) purebred nominally lower, and Tuesday’s early eventuality high (3,072) has also effectively matched resistance. Thus distant medium offered vigour has resurfaced.
On serve strength, an intermediate-term aim projects to a 3,115 area, minute previously.
Beyond technical levels, a SP 500’s prevalent backdrop supports a bullish intermediate- to longer-term bias. A primary trend change signaled final week — amid firmly-bullish cost movement — and a SP has so distant postulated a breakout.
Also see: Charting a bull-flag breakout, SP 500 ventures atop 200-day average.
Tuesday’s Watch List
The charts next fact names that are technically good positioned. These are radar shade names — sectors or bonds staid to pierce in a nearby term. For a strange comments on a bonds below, see The Technical Indicator Library.
Drilling down further, a Financial Select Sector SPDR
XLF,
+1.18%
— profiled final week — is digesting a convene to two-month highs.
As illustrated, a organisation staged a important late-May breakout, clearing insurgency amid a postulated volume increase.
By comparison, a successive pullback has been flat, underpinned by a dermatitis indicate (23.40). Last week’s tighten (23.41) matched well-defined support.
Delving deeper, informed opening support (22.75) stays an rhythm point. The group’s liberation try is total exclusive a violation.
Similarly, a Utilities Select Sector SPDR has damaged out amid rotational cost action. (Yield = 3.2%.)
Specifically, a organisation has knifed atop trendline insurgency closely tracking a 50-day relocating average.
Here again, a upswing outlines a bullish dual customary flaw breakout, punctuated by 3 true closes atop a 20-day Bollinger bands.
Though near-term extended, and due to consolidate, a organisation is good positioned for intermediate- to longer-term follow-through. Tactically, a 50-day relocating average, now 56.50, stays an rhythm point. The prevalent convene try is total exclusive a violation. (Also see a May 21 review.)
Initially profiled Mar 27, Apple, Inc.
AAPL,
-0.30%
has returned 24.5% and stays good positioned.
Technically, a shares have flatlined in new weeks, reporting a parsimonious operation amid breakouts elsewhere. Still, a draft illustrates a bullish delay pattern, improving a chances of contingent upside follow-through.
Against this backdrop, Monday’s tighten (321.85) noted a three-month shutting peak. The upswing places Apple’s all-time shutting high (327.20) and comprehensive record rise (327.85) within distinguished distance. A near-term aim projects to a 335 area on follow-through.
Conversely, a prevalent operation bottom (310.30) is followed by a deeper building incompletely above a 300 mark. A dermatitis try is in play exclusive a violation.
Northern Trust Corp.
NTRS,
+0.88%
is a large-cap informal bank display signs of life. (Yield = 3.5%.)
Late final month, a shares staged a strong-volume breakout, clearing trendline insurgency roughly tracking a 50-day relocating average. The upswing signals an intermediate-term trend shift.
Tactically, a 50-day relocating normal is closely followed by opening support (76.40) and a postulated viewpoint aloft signals a bullish bias.
Finally, Five9, Inc.
FIVN,
-0.95%
is a large-cap provider of cloud program solutions for patron hit centers.
As illustrated, a shares started May with a strong-volume breakout, knifing to record domain after a company’s first-quarter results. The successive nurse operation is a delay settlement — hinged to a high convene off a Mar low — positioning a shares to extend a uptrend.
More immediately, a clever Jun start places record highs underneath siege. A near-term aim projects to a 117 area on follow-through.
Editor’s Note: This is a giveaway book of The Technical Indicator, a daily MarketWatch subscriber newsletter. To get this mainstay any marketplace day, click here.
Still good positioned
The list next includes names recently profiled in The Technical Indicator that sojourn good positioned. For a strange comments, see The Technical Indicator Library.
Company
Symbol* (Click pitch for chart.)
Date Profiled
ASML Holding N.V.
Jun 1
Datadog, Inc.
Jun 1
iShares MSCI Japan ETF
May 29
Silicon Motion Technology Corp.
May 29
SolarEdge Technologies, Inc.
May 29
Splunk, Inc.
May 28
Nucor Corp.
May 28
Financial Select Sector SPDR
May 28
Bank of America Corp.
May 28
Citigroup, Inc.
May 28
JPMorgan Chase Co.
May 27
Microchip Technology, Inc.
May 27
Synopsis, Inc.
May 27
SSR Mining, Inc.
May 27
Twilio, Inc.
May 26
Take-Two Interactive Software, Inc.
May 26
Lam Research Corp.
May 26
Marvell Technology Group, Ltd.
May 26
Cisco Systems, Inc.
May 21
Beyond Meat, Inc.
May 21
SPDR SP Metals and Mining ETF
May 20
Agios Pharmaceuticals, Inc.
May 20
General Mills, Inc.
May 20
Cree, Inc.
May 20
Applied Materials, Inc.
May 19
Fortinet, Inc.
May 18
II-VI, Inc.
May 18
Alteryx, Inc.
May 18
iShares Silver Trust
May 15
Agnico Eagle Mines, Ltd.
May 15
Agilent Technologies, Inc.
May 15
Halozyme Therapeutics, Inc.
May 15
Wix.com, Ltd.
May 13
Extreme Networks, Inc.
May 13
Qualcomm, Inc.
May 12
Werner Enterprises, Inc.
May 12
Zynga, Inc.
May 12
Jabil, Inc.
May 11
Whirlpool Corp.
May 11
Kinross Gold Corp.
May 11
Avalara, Inc.
May 8
Packaging Corp. of America
May 8
Salesforce.com, Inc.
May 8
Facebook, Inc.
May 7
Catalent, Inc.
May 7
Spotify Technology S.A.
May 5
Paycom Software, Inc.
May 5
CrowdStrike Holdings, Inc.
May 4
iRobot Corp.
May 4
F5 Networks, Inc.
May 1
Eli Lilly Co.
May 1
Cummins, Inc.
Apr. 30
AudioCodes, Ltd.
Apr. 30
Inphi Corp.
Apr. 29
Qorvo, Inc.
Apr. 29
Old Dominion Freight Line, Inc.
Apr. 29
Keysight Technologies, Inc.
Apr. 28
Dollar General Corp.
Apr. 28
AngloGold Ashanti Ltd.
Apr. 28
U.S. Steel Corp.
Apr. 28
Cadence Design Systems, Inc.
Apr. 27
ServiceNow, Inc.
Apr. 27
Snap, Inc.
Apr. 27
Centene Corp.
Apr. 27
Abbott Laboratories
Apr. 24
Five9, Inc.
Apr. 24
Chewy, Inc.
Apr. 24
Tesla, Inc.
Apr. 23
Shopify, Inc.
Apr. 23
iShares Nasdaq Biotechnology ETF
Apr. 21
Teradyne, Inc.
Apr. 20
Electronic Arts, Inc.
Apr. 20
VanEck Vectors Semiconductor ETF
Apr. 17
Health Care Select Sector SPDR
Apr. 17
Coupa Software, Inc.
Apr. 17
Veeva Systems, Inc.
Apr. 17
American Tower Corp.
Apr. 17
Okta, Inc.
Apr. 16
Target Corp.
Apr. 16
Intel Corp.
Apr. 14
Netflix, Inc.
Apr. 14
VanEck Vectors Gold Miners ETF
Apr. 14
Invesco QQQ Trust
Apr. 14
SBA Communications Corp.
Apr. 13
Akamai Technologies, Inc.
Apr. 13
Ciena Corp.
Apr. 6
Seattle Genetics, Inc.
Apr. 6
DocuSign, Inc.
Apr. 3
Zscaler, Inc.
Apr. 3
Moderna, Inc.
Apr. 3
RingCentral, Inc.
Mar. 30
Activision Blizzard, Inc.
Mar. 30
Regeneron Pharmaceuticals, Inc.
Mar. 30
Apple, Inc.
Mar. 27
Nvidia Corp.
Mar. 27
Dexcom, Inc.
Mar. 27
Amazon.com, Inc.
Mar. 26
Stamps.com, Inc.
Mar. 26
Quidel Corp.
Mar. 26
Domino’s Pizza, Inc.
Mar. 20
Walmart, Inc.
Mar. 19
Kroger Co.
Mar. 19
Zoom Video Communications, Inc.
Mar. 19
iShares MSCI Emerging Markets ETF
Mar. 19
eHealth, Inc.
Jan. 31
Newmont Corp.
Jan. 13
Atlassian Corp.
Jan. 7
SPDR Gold Shares ETF
Jan. 2
Advanced Micro Devices, Inc.
Nov. 7
Teledoc Health, Inc.
Nov. 1
Costco Wholesale Corp.
Mar. 6
Microsoft Corp.
Feb. 22
* Click any pitch for stream chart.
