XLF Shows Relative Strength – Flags form in SPY and IWM

It is Fed week and stocks are in corrective mode. IWM and SPY edged lower this month, while QQQ has traded flat since late August. The patterns for SPY and IWM look like falling flags, which are bullish continuation patterns. Breakouts in both would be quite bullish for the market overall. It could be a volatile week for Treasuries because the Fed makes its policy statement on Wednesday. The 20+…

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Altera Leads with New High for 2014

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Altera, which is part of the semiconductor group, is showing relative strength this year with a price breakout and new high for the year (2014). The stock established support from mid November to mid January and broke out with a gap in January. After some backing and filling, the stock continued higher with another big move the last three days. The indicator window shows the price relative (ALTR:$SPX ratio) moving to a three month high.

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Altera Leads with New High for 2014

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Utilities Sector Benefits as Market Turns Defensive

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The Sector Carpet is mostly red on Monday, but pockets of green can be seen within the utilities sector as money moves into this defensive area of the market. Pepco Holdings (POM) is leading the group with a 1.5% gain. DTE Energy (DTE) and Ameren (AEE) are also showing relative strength with gains. Chartists can double click on a box to focus on a particular sector.

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Utilities Sector Benefits as Market Turns Defensive

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