Dan Russo, Author at Chaikin Analytics

Dan Russo

Early Rally Fades as Major Markets Remain Overbought

The SPDR S&P 500 ETF (SPY) has a Neutral Chaikin Power Gauge ETF Rating but continues to outperform the broader IWV (Russell 3000 ETF). The fund remains overbought after trading through the first key resistance level of $265 on Monday. Chaikin Money Flow is neutral and SPY is below the declining long-term trend line.  Yesterday’s …

Early Rally Fades as Major Markets Remain Overbought Read More »

Expect Two-Way Volatility to Persists as Stocks Trade in a Wide Range Between Support & Resistance

Trex Company, Inc. (TREX) has a Very Bearish Chaikin Power Gauge Rating and has begun to lag the SPY once again. The OB / OS Indicator is moving lower in an overbought position and Chaikin Money Flow is bearish. TREX is below the declining long-term trend line and triggered a Relative Strength Breakdown signal today. …

Expect Two-Way Volatility to Persists as Stocks Trade in a Wide Range Between Support & Resistance Read More »

SPY is Stuck Between Support and Resistance Ahead of the March Jobs Report

US equities finished higher in Thursday trading and closed near the best levels of the day. Energy, Health Care and Consumer Staples outperformed. Consumer Discretionary lagged, though all sectors finished higher on the day. Treasuries were mixed with the curve flattening. The dollar rallied vs the euro and the yen. Gold finished up 2.9%. WTI …

SPY is Stuck Between Support and Resistance Ahead of the March Jobs Report Read More »

Stocks Start the Second Quarter With Declines; Initial Jobless Claims On Deck

US equities were lower in Wednesday trading, ending just off the worst levels of the day, after finishing the worst quarter since the financial crisis. Treasuries were mixed with the  curve flattening. The dollar was stronger vs the euro but weaker on the yen cross. Gold finished down 0.3%. WTI Crude settled down 0.8%.  Just …

Stocks Start the Second Quarter With Declines; Initial Jobless Claims On Deck Read More »

Stocks Fall on the Final Day of the Worst Quarter Since 2008

US equities closed lower Tuesday, reversing earlier gains. Treasuries were mixed with the curve steepening. The dollar was stronger vs the euro and weaker vs the yen. Gold finished down 2.8%. WTI crude ended up 1.9%. Outperformers: Energy +1.63%, Healthcare (0.39%), Communication Svcs. (0.52%), Industrials (1.27%), Materials (1.43%) Underperformers: Utilities (4.02%), REITs (3.16%), Financials (2.99%), Consumer Spls. …

Stocks Fall on the Final Day of the Worst Quarter Since 2008 Read More »

Eye of the Storm or the Start of Something Bigger? SPY Nears First Key Resistance Level

US equities finished higher in Monday trading, closing near the best levels of the day. All sectors were higher. Treasuries were stronger across the curve. The dollar was stronger versus the euro and sterling but weaker against yen. Gold finished down 0.7%. WTI Crude settled down 6.6% after crossing below $20/barrel. Outperformers: Healthcare +4.67%, Tech +4.23%, …

Eye of the Storm or the Start of Something Bigger? SPY Nears First Key Resistance Level Read More »

Market’s Message May Become Clearer as Key Resistance Levels are Tested

Stock of the Day: Williams-Sonoma, Inc. (WSM) – Very Bearish Rating Williams-Sonoma, Inc. (WSM) has a Very Bearish Chaikin Power Gauge Rating and has been underperforming the SPY since the end of January. The stock is overbought based on our indicator and Chaikin Money Flow is bullish. WSM is below the declining long-term trend line …

Market’s Message May Become Clearer as Key Resistance Levels are Tested Read More »

Two Green Days in a Row as Stimulus Hopes Lend a Bid to Battered Markets

US equities were mostly higher in Wednesday trading, though finished well off the best levels of the day. Industrials, Energy and Financials outperformed. Consumer Staples (grocers), Technology (semis), and Communication Services (internets) finished lower. Treasuries were mixed across the curve. The dollar was weaker vs euro and sterling, flat vs the yen. Gold settled down …

Two Green Days in a Row as Stimulus Hopes Lend a Bid to Battered Markets Read More »

Historic Turnaround Tuesday Increases the Odds That the “Initial” Low has Been Established

The SPDR S&P 500 ETF (SPY) has a Neutral + Chaikin Power Gauge ETF Rating but continues to outperform the broader IWV (Russell 3000 ETF). The fund remains oversold based on our indicator and Chaikin Money Flow is bearish. SPY is below the declining long-term trend line and has a bearish Power Bar Ratio.    Yesterday’s …

Historic Turnaround Tuesday Increases the Odds That the “Initial” Low has Been Established Read More »

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