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Cryptocurrencies are in focus this week as Coinbase prepares its direct listing tomorrow. Meanwhile, another early mover in the space has some interesting chart patterns: Microstrategy (MSTR). Notice how MSTR has squeezed into an increasingly tight range since its big...
Gold miners are one of the worst-performing corners of the market this year. They've bounced recently, creating a potential opportunity for the bears. This chart of the Market Vectors Gold Miners ETF (GDX) shows the downward-sloping trendline in place since August....
The Russell 2000 ETF (IWM) had a strong move coming out of the vaccine news in November. It’s been consolidating for the last two months and now may be ready to continue higher. The main thing jumping out of today's chart is the 50-day moving average. IWM tested it in...
Energy is the strongest sector this year, but is down in the last month. Is it time to buy the pullback? This chart of the SPDR Energy ETF (XLE) has some interesting patterns. First are the candlesticks from March 23 and 25: an inverted hammer and then a normal...
The crypto market just passed $2 trillion of market cap thanks to a broad rally in altcoins. Now the top altcoin, Ethereum, may be poised for a move to new highs. The most important feature on ETHUSD’s chart is its breakout above the February high around $2,000,...
Financials are the second-best performing sector in 2021. Now one of the biggest names has pulled back to hold some key levels: Morgan Stanley (MS). MS dipped on the Archegos implosion last week, but reportedly faces no significant losses. That brought MS down to its...
From Las Vegas Sands to Live Nation Entertainment and many other stocks, bullish triangles keep popping up in "reopening" plays. Notice how LVS clawed to a new 52-week high above $66 in early March, stalled and then pulled back to previous highs around $60. Also...
General Motors continues to push higher as investors embrace value stocks and the cyclical recovery. Once again the chart is giving some potential signals. First, the auto maker pulled back to hold the trendline in place since the start of the year. Its also bouncing...
As Zoom Video Communications continues to struggle, more bearish patterns have appeared on the chart. First, the recent price action has resulted in a descending triangle , with support around $309. This is a classic continuation pattern, pointing to potentially more...