The uptrend rally can continue to move upwards using the uptrend line as a resistance feature.
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"In general, unless something happens, we're still in an uptrend, end of quarter uptrend," Coleman said.
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The uptrend rally did not continue as strongly as we thought, however the uptrend remains well established.
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The uptrend rally can continue to move upwards using the long term uptrend line as a resistance feature.
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This confirms a steady uptrend but it also shows that the uptrend is no well supported by investors.
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This lack of confirmation from an uptrend in silver to match the uptrend in gold signals caution in trading the gold trend.
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I think the key point is that this is an established uptrend, it's a healthy uptrend and we think it should continue.
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The sustained sideways move above $50 in the current uptrend confirms the inverted head and shoulder pattern and the continuation of the slow uptrend.
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"This is your defining uptrend channel, very, very clear uptrend approach here," said Gordon, pointing to its moves higher during the past three years.
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"It trades in a range for a quarter or two and then resumes its uptrend," he said, noting the uptrend could coincide with the presidential election this year.
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"If it were to go further, then the next support would be close to the uptrend, around the 2016 uptrend around $53," said Yamada, who runs Louise Yamada Technical Research Advisors.
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U.S. markets have been in a sustained uptrend since 2012.
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In August 2015 the DOW moved below the uptrend line.
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This trend change is further confirmed with the uptrend line.
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The first feature is the strength of the underlying uptrend.
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Now the price is tickling, possibly breaching, the 2016 uptrend.
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The uptrend was defined with a straight edge trend line.
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The second feature is the location of the uptrend line.
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They all confirm a high probability the uptrend will continue.
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Some analysts say the uptrend in crude prices will continue.
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The strategist's basis for that pullback comes from the fact that when Apple has traded in an "uptrend," as exemplified by a line in Maley's chart, the current uptrend line is sitting at $150.
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The third feature is the uptrend line starting from February 2016.
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When prices close above this average, stocks are in an uptrend.
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The second technical observation is the role of the uptrend line.
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The Shanghai Index uptrend breakout moved quickly and developed good strength.
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This steady separation is characteristic of a sustainable longer term uptrend.
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Meanwhile, fewer 225-week highs during an uptrend suggest limited participation.
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"I think that's marking a resumption of its uptrend," Wald said.
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The third feature is the uptrend line starting from 2016 February.
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This is the characteristic of the beginning of a new uptrend.
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Gordon said Monday's drop broke through an important uptrend from 2015.
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The break from an uptrend could be signaling a steeper decline.
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Fitch believes that this rapid uptrend in contracted sales is unsustainable.
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Investors remain alert for the redevelopment of end of uptrend patterns.
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The first feature is the long term uptrend trading channel (A).
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Boroden thinks the stock is back in "uptrend mode," Cramer said.
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We're retesting the uptrend support line off of those 2016 lows.
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It is not possible to reliably set an uptrend trend line.
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The uptrend ended up being a direct cause of the recession.
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"It's obviously held that uptrend from the December lows very, very nicely, but interestingly enough, it's come back to that uptrend and it's also come back to the level where it broke out in August," Nathan said.
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They signal a continuation of the uptrend with a target near $87.
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Within the context of an S&P uptrend, Stockton likes transportation stocks.
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The Shanghai Index consolidation retest of the uptrend was stronger than expected.
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When it reported a strong quarter recently, the stock resumed its uptrend.
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In a string uptrend the long term GMMA usually develops good separation.
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That tells us traders are also confident that the uptrend will continue.
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While we're above that, the uptrend in Amazon is still in place.
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The momentum of the uptrend has reduced, but it has not failed.
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The potential for a return to new uptrend behavior has also ended.
|
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This pullback takes place within the environment of a well-established uptrend.
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But there are in any case some powerful factors supporting the bourse's uptrend.
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This shows that investors are developing more confidence that the uptrend is sustainable.
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The rally and retreat retest is a normal part of the uptrend development.
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This is a rally within the context of a longer-term uptrend breakout.
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"It's not affecting the long-term uptrend, which is somewhat gradual," said Stockton.
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ET. Meanwhile, the NFIB Small Business Optimism Index continued a 23-month uptrend.
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What is different with the euro-dollar is the well-defined uptrend line.
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The first and new feature is the uptrend line starting from February 297.
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The third feature on the Dow chart is a long-term uptrend line.
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This panic low signaled the start of the uptrend from 3105 to 3260.
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Traders should prepare for a fast move breakout rally rebound and uptrend continuation.
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The first feature on the Dow chart is a long term uptrend line.
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The third feature is the more recent uptrend line starting from February 2016.
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When these three features are combined, it suggests the Dow uptrend will continue.
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In turn, any pullbacks are buying opportunities for a continuation of the uptrend.
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The general uptrend is not interrupted by days of significantly large daily ranges.
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The second feature on the Dow chart is a long-term uptrend line.
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The uptrend line starts from the anchor point near $43 from June, 2017.
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This means the market can fall substantially and still remain in an uptrend.
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This is a steady separation and this is characteristic of a sustainable uptrend.
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Technicians often look at these formations as confirmation that an uptrend will continue.
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These pattern projection targets do not show how the new uptrend will develop.
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Right now we don't see those glaring warnings, we think the uptrend continues.
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In addition, the oil market is in at least a short-term uptrend.
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"Until you start breaking below 3,200 (points) that uptrend remains intact," Sneddon added.
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The S&P 500's broad uptrend remained intact through the August shakeout.
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These are all bullish features that confirm the index has a stable uptrend.
|
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The first feature on the Dow chart is a long-term uptrend line.
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"Longer term, bitcoin is now back below a key uptrend line," Cappelleri said.
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The second resistance feature is the value of the long-term uptrend line.
|
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The current index behavior shows a significant pullback and test of the uptrend.
|
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The rapid breakout has shown good follow-through and developed into an uptrend.
|
|
"Fast Money" trader Brian Kelly points out that he sees an uptrend in the chart of bitcoin that has been in play since August, and thinks that the same uptrend could actually be just as indicative of where bitcoin is headed.
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Between October 2011 and August 203, the uptrend line acted as a support level.
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From June 2017 until August 2018, the uptrend line acted as a support level.
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Last June, he said the current uptrend in the business cycle could last years.
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The first, a shorter-term chart, showed an uptrend that appeared to be intact.
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The Dow would pull back to this level, then rebound and continue the uptrend.
|
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The increased separation in the long-term GMMA confirms the strength of the uptrend.
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|
The retreat presented a buying opportunity, but not for a long-term uptrend continuation.
|
|
This strong support provides a good base for a rally rebound and uptrend continuation.
|
|
But the Nikkei has since resumed its breakout uptrend, highlighting two powerful breakout patterns.
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Between 22016 October and 22016 August the uptrend line acted as a support level.
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|
When this is the case, we're often looking at a stock in an uptrend.
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|
A stock market rally has placed many equities back near their long-term uptrend.
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|
This shows investors are increasingly more confident about the sustainability of the new uptrend.
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|
What is it going to take to stop the relentless uptrend in the Dow?
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|
Between October 2011 and August 2015 the uptrend line acted as a support level.
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Between October 2011 and August 2015, the uptrend line acted as a support level.
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|
The uptrend in the business cycle could drive stocks higher for another few years.
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|
Furthermore, Worth highlights a "perfect" uptrend channel in the IBB from its 2016 lows.
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|
Chief Executive Bronek Masojada said the storms meant insurance rates were on an uptrend.
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|
An ascending triangle pattern typically depicts that a stock will continue along an uptrend.
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However, the uptrend was untidy in its behavior so cautious traders have been rewarded.
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|
The big picture is eight out of every 10 stocks are in an uptrend.
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|
Cramer expected RH to follow the uptrend seen in much of retail this quarter.
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|
There are three other bullish features that continue to suggest this uptrend will continue.
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|
The uptrend breakout is confirmed and the nature of the new trend is developing.
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|
The banking industry has generally reacted positively when rates are in a sustained uptrend.
|
|
Between 2011 October and 2015 August the uptrend line acted as a support level.
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|
However, this is not supported by other trend indicators, which show a sustainable uptrend.
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In short, Texas Instruments' strong uptrend has made Baruch bullish on the semiconductor manufacturer.
|
|
Trend analysis is applied using the GMMA, which shows the uptrend is gathering strength.
|
|
Interest in blockchain-related positions, however, has stayed in an uptrend, Indeed data showed.
|
|
The uptrend line remains important because it acts as a resistance feature in the future.
|
|
At this time the index tested the long term uptrend line as a support level.
|
|
The developing separation in the long term GMMA confirms a continuation of the rally uptrend.
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|
Palladium is in a strong uptrend supported by the fundamental story, Saxo Bank's Hansen said.
|
|
The new uptrend in gold offers better entry opportunities as the price retreats and rebounds.
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|
In other words, more stocks making 21.2-week highs signals broad participation in an uptrend.
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|
Gordon points out that prior to consolidating in August, the SPY was on an uptrend.
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|
Krinsky believes the uptrend in the financials could continue and we could see a breakout.
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|
The retreat offers a buying opportunity for an uptrend continuation back to $21,2580 and higher.
|
|
A rebound from this level is a buying opportunity for a continuation of the uptrend.
|
|
Even traditional tobacco companies have taken note of the powerful uptrend in legal cannabis sales.
|
|
But as February comes around, the market's uptrend may resume, if history is any guide.
|
|
On the weekly chart, the Guppy Multiple Moving Average indicator relationships show a weak uptrend.
|
|
The Dow is in a strong uptrend, but it moves in well-defined trading bands.
|
|
That has not happened, instead leading to a bullish outcome that supports a continued uptrend.
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|
But I don't get the feeling that this uptrend (for the euro) is over yet.
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|
The improvement has been a steady grind higher, suggestive of an uptrend likely to persist.
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|
We can see the markets trade back down later this month before resuming an uptrend.
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|
This shows an even stronger uptrend than the S&P trend between 20012 and 2015.
|
|
Here is the current Nasdaq uptrend set against the surge that finished out the '21999s.
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|
So, if the staples do stall and break that uptrend, how far could they fall?
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However, basically, we can see these 2 curves shows a parallelism uptrend in long term.
|
|
More importantly, they are prepared for the rebound and continuation of the long-term uptrend.
|
|
He pointed to the XLY ETF, which tracks the group, trading in a multiyear uptrend.
|
|
"With the recent volatility, we have in fact broken uptrend support," the founder of TradingAnalysis.
|
|
A closer look at Facebook's trend line shows the stock slipping below its uptrend channel.
|
|
This is a strong and well developed uptrend with good short-term support near 3,220.
|
|
There is room for the indexes to settle back before the latest uptrend is in jeopardy.
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|
"The long-term uptrend support line comes in around 2,500 on the S&P," said Johnson.
|
|
It's good to see the gold uptrend continuing, but the upside target delivers 5.7 percent profit.
|
|
The sustained move above $50 in the current uptrend confirms the inverted head and shoulder pattern.
|
|
The market has been in a strong uptrend since the Egyptian pound was floated on Nov.
|
|
The same method is used to calculate the upside targets for any new uptrend in oil.
|
|
This is a fast and sustained up move that has the characteristics of a new uptrend.
|
|
It's good to see the gold uptrend continuing but the upside target delivers only 4.65% profit.
|
|
This trend volatility will stabilize and the steady uptrend retest of resistance near $1.340 will continue.
|
|
Miller Tabak's Matt Maley argues that the stock chart suggests the start of a bullish uptrend.
|
|
I think you get the breakout and that marks the resumption of Netflix's long-time uptrend.
|
|
But there seems to be something else going on: there's a broad market uptrend still unfolding.
|
|
That would be the market's long, post-2009 uptrend, which connects many of its recent lows.
|
|
They remained on an "explosive uptrend" in the largest eurozone economic centres, Hong Kong and Vancouver.
|
|
A new uptrend is confirmed when copper is able to stay above the 290 cent level.
|
|
The same method is used to calculate the upside targets for a new uptrend in oil.
|
|
The uptrend that started around December 2016 has not been a steady or well-defined trend.
|
|
It is critical that the price remain above the trend line for the uptrend to continue.
|
|
The resulting drop in oil prices would curb the CPI's uptrend and would diminish TIPS' appeal.
|
|
EUR/GBP is for now clinging onto the uptrend support line drawn from the April low.
|
|
It has soared above the primary uptrend line and achieved the trade band target of 2820,25.
|
|
Gordon says SPY has broken below an uptrend line that extends from its October 2019 lows.
|
|
In order to see the whole uptrend, we combined these 220 curves to make a comparison.
|
|
The Australian dollar broke the long-term uptrend in April and quickly developed a substantial downtrend.
|
|
Some analysts said this suggested that the Fed believes the currency's uptrend is still in place.
|
|
This suggests an Australian dollar rebound rally is well embedded until the dollar resumes its uptrend.
|
|
The recent volatility proved the strength of the uptrend as shown by the long-term GMMA.
|
|
"The good news is when you're in an uptrend those returns are skewed higher," Sohn said.
|
|
And that indicates to him that the sector will resume its longer-term uptrend that's in place.
|
|
On a chart of GLD, Worth looks at both the uptrend and downtrend lines for the ETF.
|
|
The long-term group of averages is consistently well separated, indicating strong investor support for the uptrend.
|
|
He said about half the stocks in the S&P 500 are no longer in an uptrend.
|
|
The steady separation of the long term group of averages shows confident support for the new uptrend.
|
|
"Indian pump prices have failed to keep up with the recent uptrend in crude prices," Paravaikkarasu said.
|
|
We think the food inflation seasonal uptrend will likely continue in the near term before easing later.
|
|
While gold has drawn support from risk-averse markets, prices have not embarked on a significant uptrend.
|
|
The second feature on the Dow chart is a long-term uptrend line, starting in October 2011.
|
|
The same method is used to calculate the upside targets for any future new uptrend in oil.
|
|
The dollar maintained an uptrend to fetch 110.89 yen , after hitting a four-month high of 80.503.
|
|
Domestic passenger vehicles continued the uptrend with around 15 percent growth, driven by new products and discounts.
|
|
The 21,000 level is a significant resistance level, but its not the end of the Dow uptrend.
|
|
This value is then projected downwards from where price moved below the uptrend line in March 2013.
|
|
"We think this is a resumption of the longer term uptrend that's still in play," he said.
|
|
For nearly three months, the market has been in an uptrend, but fund managers have turned defensive.
|
|
The developing separation in the long term GMMA confirms a high probability continuation of the rally uptrend.
|
|
That is bullish because it shows two support features which may support the continuation of the uptrend.
|
|
Qatar added 0.3 percent as Dlala Brokerage continued its uptrend of the past month, rising 4.6 percent.
|
|
Unless Boeing's stock breaks down below its $313 floor of support, Moreno was bullish on the uptrend.
|
|
This is all evidence of a market in turmoil and evidence of the end of an uptrend.
|
|
But he also sees the market getting back to its uptrend after the winter and spring correction.
|
|
The "multiyear uptrend is now broken" and it's one of the "more broken, vulnerable names," said Verrone.
|
|
After seasonal adjustment, "October would have been the third consecutive month of an underlying uptrend," Pinsonneault said.
|
|
The 213,221 level was a significant resistance level, but it's not the end of the Dow uptrend.
|
|
Bull-flag patterns are often looked at by technicians as a bullish sign of a continued uptrend.
|
|
Sometimes there is a fourth test and retest retreat and rally before the new uptrend is confirmed.
|
|
The uptrend line started in May 2017 and acted as a support feature until November last year.
|
|
After seasonal adjustment, "October would have been the third consecutive month of an underlying uptrend," Pinsonneault said.
|
|
Even so, the Dow remained cautious in its uptrend and stopped short of reaching the elusive 20,000 mark.
|
|
The slope of this new trend line is different from the slope of the long-term uptrend line.
|
|
The stock had been in a strong uptrend since mid-March in anticipation of good first-quarter earnings.
|
|
The uptrend hasn't been busted, the pop in the VIX is right around the magnitude you'd expect, etc.
|
|
The uptrend rally starting 2016 December with silver was well defined using a Guppy Multiple Moving Average indicator.
|
|
"The S&P is in a very pretty, beautiful, rhythmical, symmetrical uptrend that we've just broken through," TradingAnalysis.
|
|
"We think the long-term uptrend remains intact," wrote UBS Wealth Management strategists in a note to clients.
|
|
Qantas Airways and rival Virgin Australia also contributed to the uptrend, rising 1.5 percent and 2.6 percent respectively.
|
|
The uptrend starting in January with silver was well defined using a Guppy Multiple Moving Average (GMMA) indicator.
|
|
"We're in the next uptrend," noted CNBC "Fast Money " trader Brian Kelly during a "Behind the Trade" special.
|
|
Gordon is most encouraged by Boeing's current uptrend channel, approaching its resistance level of around $370 per share.
|
|
Analysts said the dollar's uptrend looked intact, even as 120 yen and parity with the euro remained elusive.
|
|
This group of averages absorbed the dip and selloff and this shows strong investor support for the uptrend.
|
|
"We think the long-term uptrend remains intact," wrote UBS Wealth Management strategists in a note to clients.
|
|
This support level is created by the uptrend line starting from the low near $1.083 in May 21.08.
|
|
The slope of this new trend line is different from the slope of the long term uptrend line.
|
|
Qatar edged up 0.1 percent as Dlala Brokerage continued its uptrend of the past month, rising 4.6 percent.
|
|
AlfaStrakhovanie in 1Q17 maintained its uptrend in profitability, with net income totalling RUB1 billion based on local GAAP.
|
|
"This guy's clearly broken uptrend support right around the $23 region, so miners are looking weak," he said.
|
|
Energy stocks were also higher as large oil and gas shares tracked a general uptrend in oil prices.
|
|
In this case, Strategas defines an uptrend as the S&P trading above its 10-month moving average.
|
|
Until the long-term uptrend is well defined, traders continue to trade short-term rally-and-retreat behavior.
|
|
The third factor is the uptrend line that starts from the anchor point near $43 in June 2017.
|
|
It is clear the uptrend has ended but the nature of any new downtrend is not yet clear.
|
|
Worth's analysis suggests the move below a key uptrend level implies the rally in rates could be overdone.
|
|
At best, this could develop into a period of consolidation prior to the development of a uptrend continuation.
|
|
The Dow had a strong and consistent uptrend that started in November 2016 and ended in January 3003.
|
|
Trade war threats have not turned the uptrend into a downtrend, but they have neutered all trending activity.
|
|
For him, $7,777 is the key level bitcoin will have to top to signal an uptrend is underway.
|
|
Investors will be alert for a market retracement dip to the value of the long-term uptrend line.
|
|
"This stock could pull back 5, even 10 percent, and still be well in its uptrend," added Maley.
|
|
If it fails to hold that low end of the range, it risks breaking its uptrend, he said.
|
|
This is just what I would define as a correction within the context of a longer-term uptrend.
|
|
I think you buy this pullback in anticipation of what is still a longer-term uptrend pointed higher.
|
|
Not a prediction, but that's how much more this could drop and still be in a solid uptrend.
|
|
When the AUD uptrend line was broken near $0.765 it took less than three weeks to touch $0.74.
|
|
Achieving that target is hampered by the way the projected uptrend line now acts as a resistance level.
|
|
The $12 level would also mark the pinnacle of a second uptrend line that Gordon draws on the chart.
|
|
The uptrend acted as a support feature until around September 2160 when the index dropped below the trend line.
|
|
The consolidation often precedes a continuation of the uptrend with a breakout towards a long term target of 23,2280.
|
|
There are three resistance features in the index are used to set the upside targets for the uptrend continuation.
|
|
The uptrend in the S&P 2500 since February 2200 is now bending or cracking, depending on the interpretation.
|
|
"The more recent consolidation is a healthy pause in what is a longer-term uptrend," said Wald of Oppenheimer.
|
|
"A breakout above that upper horizontal resistance would trigger the pattern bullishly and signal a primary uptrend," he added.
|
|
Oil at $54 a barrel, though on an uptrend, is still well below its high of the past decade.
|
|
Revived buying by speculators could help palladium to overcome technical resistance at its long-term uptrend line from 2011.
|
|
So even though gold futures traded lower Monday, analysts say the yellow metal appears to be in an uptrend.
|
|
The second feature that contributes to the weakness of the trend behavior is the placement of the uptrend line.
|
|
The third feature that adds to the uncertainty in the gold uptrend is the behavior of the silver price.
|
|
Alternatively, is the underlying uptrend strength solid enough to develop a sustainable rebound and breakout above resistance near $0.81?
|
|
The XLF financials ETF, he says, has pulled back to the uptrend support line established since the 2016 lows.
|
|
IBM shares fell about 5 percent in after-hours trading, a retreat from a recent uptrend for the stock.
|
|
Looking at a chart of Apple, Gordon noted that a parallel uptrend channel has formed over the past year.
|
|
"You can see we've been in a very nice uptrend channel, clearly defining support on the downside," he said.
|
|
At worst, this could signal the collapse of the uptrend and a test of support between 3,260 and 3,290.
|
|
Finally, here's an important point: Breaking out of a downtrend does not mean we are in a convincing uptrend.
|
|
A support level is where price has fallen to that level and then rebounded and developed a new uptrend.
|
|
We hope the uptrend should be sustained, but we don't know what will happen to consumer sentiment in China.
|
|
Once the AUD uptrend line was broken near $0.765 it has taken less than 3 weeks to touch $0.74.
|
|
The last time rates were in a significant uptrend was from 6503 to 2650 before the financial crisis struck.
|
|
The index has been on an uptrend most of this year, posting a monthly loss only once in 21.
|
|
Boroden thinks the stock is back in "uptrend mode," Cramer said, and could have 2800% upside in its future.
|
|
Intel has also shown "nice uptrend support," even during the sharp recent downturn in the broader market, Gordon said.
|
|
The strong uptrend will end sometime in the future, but there is no indication the trend will end soon.
|
|
It continued with a move below the long-term uptrend line that had been in place since December, 21.
|
|
A support level is when price has fallen to that level and then rebounded and developed a new uptrend.
|
|
If this stock really starts to break below that uptrend support line, your next support comes in at $67.
|
|
"The moving averages [are] within the context of a larger uptrend at this point, that hasn't changed," he said.
|
|
This relative uptrend, along with the extended condition of some of the XLK's constituents, adds to his bullish thesis.
|
|
Last September, the trader identified an uptrend channel in the S&P 5003 based on Elliott Wave Theory lines.
|
|
The Australian dollar challenged a long-term resistance level near 81 and then failed to develop a new uptrend.
|
|
The NYMEX oil price pulled back to the long-term uptrend line and then developed a strong rebound rally.
|
|
The steady expansion of the long-term GMMA group of averages confirms strong investor confidence in the new uptrend.
|
|
Many strategists had expected the dollar to weaken in 2020, and now some say the current uptrend can continue.
|
|
However, when looking at a stock that's in an uptrend, her typical upside target is a bit lower than that.
|
|
In August 2015, the Dow moved below the uptrend line and the trend line now acts as a resistance line.
|
|
"This security, which has been in a perfect uptrend repeatedly — over, and over and over — clearly broke trend," notes Worth.
|
|
Price consistently rebounds from the upper edge of the long-term GMMA and this shows continued support for the uptrend.
|
|
And this shows some trend weakness — but it is not, by itself, an indication of an end of the uptrend.
|
|
The long term group compressed, turned upwards and has now separated which shows increasing investor support for the new uptrend.
|
|
Johnson's chart shows an inverse head and shoulders has formed, a pattern that is generally thought to predict an uptrend.
|
|
"This one also, right down to the test of uptrend support and the decision level, is upon us," Gordon said.
|
|
This pattern gives early warning of a substantial and sustainable trend change so investors are confident this uptrend can continue.
|
|
A breakout above 3280 can develop into a strong continuation of the uptrend towards a long term target of 3400.
|
|
"The stock has been in a beautiful uptrend for the last several years," Gordon told CNBC's "Trading Nation" last week.
|
|
It was the latest bit of supportive news for ethanol companies, which some investors now view as starting an uptrend.
|
|
However, the stock has already broken below a multiyear uptrend, he said, which may be an alarming sign for investors.
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This is classic rally, retreat retest, and rally behaviour that often precedes the development of a longer term sustainable uptrend.
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" To determine how low the FXY could go, Gordon points out that the ETF recently broke below an "uptrend support.
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In Netflix's case, the shares are making a move up toward the top of the uptrend channel, according to Gordon.
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The index pullback is a signal of a major interruption to the uptrend in the key market measure in China.
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The current fall towards 1.145 is a sharp collapse of the uptrend that prevailed from 2017 July to 2018 March.
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The single currency has been on an uptrend in the last few weeks, bolstered by generally solid European economic data.
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The single currency had been on an uptrend in the last few weeks, bolstered by generally solid European economic data.
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The most common end-of-uptrend patterns are: None of those patterns are seen on the S&P index chart.
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Rather, analysis of the S&P chart shows a very strong and stable uptrend with no end-of-trend patterns.
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The most heavily traded stock, real estate firm Dar Al Arkan , climbed 4.1 percent to 12.38 riyals, continuing an uptrend.
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You've got good support right around $34 where you have the uptrend, and also the rising 40-week moving average.
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That combination of features suggests the Nasdaq could fall to below 7,400 and still actually remain in a strong uptrend.
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The future pattern of rally, retreat and rebound rally will set the first anchor point for a new uptrend line.
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The bullish features include the placement of a new uptrend line starting from the low near 71 in December 2016.
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Gordon also sees a level of support forming below the current trading price stemming from its uptrend since July 2018.
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But he added that as long as the dollar index remained over 100, the greenback would likely remain in an uptrend.
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"Within the industrial sector, the long is Union Pacific, correcting in an uptrend, " Wald said on CNBC's "Trading Nation " on Monday.
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The first feature on the S&P is that there has been a strong secular uptrend in place since early 22014.
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The third resistance feature is the long term uptrend line that defines the development of the trend in the Shanghai index.
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The ETF hit that level earlier last week and then bounced higher, so he believes the chart is indicating an uptrend.
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The uptrend in yields will continue as foreigners will be averse to purchasing U.S. bonds because of hedging costs, he said.
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The NSE Index broke above a resistance at 8,375.583 points, the 23.6 pct Fibonacci retracement level on the uptrend from Feb.
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Piper Jaffray's Craig Johnson is also bullish on Amazon ahead of earnings, noting that the stock chart indicates a bullish uptrend.
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If you break through 1.05, ... that would start to suggest that the uptrend in growth since '08 is now in trouble.
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The broader stock markets have so far not seen a spillover, and MSCI's Asia index has been on a sustained uptrend.
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Spot gold may seek a support at $1,573 per ounce, and then resume its uptrend, said Reuters technical analyst Wang Tao.
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The has enjoyed "a very nice uptrend," but over the past week, "we've begun to pull back," Todd Gordon of TradingAnalysis.
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The short-term prognosis is for the current mild uptrend in production to continue running through the end of this year.
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Looking at the tech giant's long-term chart, Gordon noted that the long-term uptrend is in danger of being breached.
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Neither the bullish uptrend in the major indexes nor the upbeat tone of economic and corporate-profit growth has been upended.
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Shares in the company have been in an uptrend since mid-May and are now up 8433 percent year-to-date.
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They have been on an uptrend this month that is largely tied to a weaker dollar and ongoing uncertainty surrounding Brexit.
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"We definitely had a little breakdown from the stable uptrend we had (in stocks)," said Peter Coleman, head trader at Convergex.
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By the middle of October, the Dow fell to break an uptrend line that had protected it for over 1,000 points.
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This rally is the beginning of a change in the direction of the trend from a downtrend to a new uptrend.
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Simple trend line analysis, and analysis with the Guppy Multiple Moving Average (GMMA) indicator shows the long uptrend has decisively ended.
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A pullback toward the lower edge of the short-term GMMA is a buying opportunity for a continuation of the uptrend.
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The Shanghai index has developed a classic GMMA breakout, retreat and rebound rally pattern as the longer term index uptrend develops.
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This strategy bets on future gains and is more attractive when the market is in an uptrend and conditions are calm.
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When Apple last broke its uptrend in 2012, many investors were taken down with the stock, said Ari Wald of Oppenheimer.
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Following the correction, there is a high probability the uptrend will resume a move towards a longer-term target of 63,26.
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This confirms that when the index retreats it is a good buying opportunity for a continuation of the long-term uptrend.
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The index has simply sat there the past week — preserving the latest little uptrend but showing few signs of accelerating higher.
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This is confirmed with the gap-down behavior and the clear close below the potential uptrend line A (see chart below).
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The trading band between 3,260 and 3,290 will now become a major obstacle for any index rebound or new uptrend development.
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The future importance of the uptrend line is the way this will now act as a resistance level for future rallies.
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This usually occurs at inflection points for stocks that tell short-term investors that a longer-term uptrend is in trouble.
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"You can see that we obviously have a very, very strong uptrend here in Home Depot," Gordon said, citing the chart.
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The current trading band breakout and retreat is moving toward the value of the uptrend line that started in July 2017.
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On the technical side, platinum has broken below key support at $800, its 2016 low and two long term uptrend lines.
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The first feature is the long-term uptrend trading channel A. A trading channel is created by two parallel sloping trend lines.
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That fall rebounded from the uptrend line but had it continued it would have signalled an exit form long term long positions.
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That means that the primary uptrend is still intact and we could see a measured objective on this stock back to $150.
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The Australian dollar, which has been on an uptrend since June 18, slipped below 70 U.S. cents to last trade at $0.6974.
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While inflation is expected to resume a gradual uptrend, uncertainty persists on whether such price rises will heighten inflation expectations, Nakaso said.
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While the chart may be "holding its uptrend" for now, a break below $115 would spell trouble for the stock, he said.
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The rallies are easily defined with a trend line so a close below the uptrend line is a signal to go short.
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A trend line uses three anchor points created by the peak highs in a downtrend, or the valley lows in a uptrend.
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These supports are identified as the 38.2% and the 0.353% retracements on the uptrend from $4.08-1/4 to $4.64-1/4.
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Citi sees markets in an uptrend for the next 12 to 18 months, but Bailin said there would be no smooth sailing.
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The S&P is up fractionally for the month, a few points from an historic high, and clearly remains in an uptrend.
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In 213 August the Dow moved below the uptrend line and then in 221 February it again moved above the trend line.
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In fact, only 22 percent of the index is currently in an uptrend—defined as stocks above their 200-day moving average.
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To me, this means buying stocks in an uptrend and establishing appropriate entry and exit strategies prior to making my initial investment.
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Gordon recently added a "half position" of Pfizer shares to his portfolio since he says the chart is indicating a bullish uptrend.
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Now, the rally in gold has the potential to develop into a breakout from the consolidation base and become a new uptrend.
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The Australian dollar, which has been on an uptrend since June 18, slipped below 70 U.S. cents to last trade at $0.6985.
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"April's increase and continued uptrend in the U.S. LEI suggest solid growth should continue in the second half of 2018," Ozyildirim said.
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In a strong bull market this fall would be followed by a strong rebound and a continuation of the long-term uptrend.
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The compression and clustering in the short-term group suggests market nervousness and a lack of commitment to a strongly developing uptrend.
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"The longer-term uptrend is still intact and this looks like just some normal profit-taking along the way here," Johnson said.
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"You have this uptrend from the December low, touching the August low, [and now] we're right there at the highs," said DaSilva.
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Automatic selling was also triggered after palladium crashed out of its seven-month uptrend and broke below its 50-day moving average.
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A number of strategists doubt the U.S. 10-year yield will go much higher now, but they see it in an uptrend.
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The second support feature is the uptrend line that is projected from the anchor points in February, July and December of 2016.
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A move above resistance near 28,000 shows consolidation near that level, but it is not a signal for a new rally uptrend.
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In 2015 August the Dow moved below the uptrend line and then in 2017 February it again moved above the trend line.
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The NSE index's Trend Intensity (TI) indicator is falling after reaching a high of 35, which shows the uptrend losing its steam.
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Its sell-off earlier this year also has to be put into the context of its long-term uptrend, according to Newton.
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That shows traders are buyers whenever the price falls, which tells us that traders are also confident that the uptrend will continue.
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Thanksgiving week was technically positive for the market, with the small cap Russell 2000 breaking out, joining other indexes in an uptrend.
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And this selling squall is striking the market at a consequential point, the benchmark in a disputed zone between continuing uptrend and breakdown.
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"The longer-term uptrend is still intact despite the sell-off, despite the weakness you've seen in the overall FANG stocks," said Johnson.
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Wayfair "has just pulled back and retested the uptrend support line that's been intact since 2016," Johnson said on "Trading Nation" on Friday.
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The euro last held at $1.1276, recovering from Wednesday's low of $1.12295, keeping intact its slow uptrend from $13.91753 touched on April 2.
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The dollar maintained an uptrend against the yen, rising 0.25 percent to fetch 111.01 yen,, close to Friday's four-month high of 80.503.
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Below the current support, the Index also has a key support at 11,607, the 23.6% Fibonacci retracement level of the uptrend from Oct.
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The slope of this new trend line is different from the slope of the long-term uptrend line that started in October 230.
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But technical analysts at Riyad Capital said that with average trading volumes generally weak over the last several sessions, the uptrend could reverse.
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Looking at a chart of the FXY, the ETF that tracks the yen, Gordon noted that the currency is in an "explosive" uptrend.
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Turning to a chart of the GLD, an ETF that tracks the price of gold, Gordon notes the GLD has broken uptrend support.
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The hit another historic high in early March, and while it ended the month down slightly, the longer-term uptrend was still intact.
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The euro last held at $1.1276, recovering from Wednesday's low of $1.22295, keeping intact its slow uptrend from $1.1183 touched on April 2.
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"We propose financial authorities take responsibility to make the economy uptrend by fiscal spending equivalent with delaying the tax hike," said the statement.
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It's the untidy nature of the uptrend, and the lack of confirmation from related commodities, that calls for more caution in trading gold.
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This starts from the low of December 2016, but the second anchor point for the uptrend line does not appear until January 2017.
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That means the position of the trend line is not well tested and that, in turn, means the uptrend is not well defined.
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In August of 2015, the Dow moved below the uptrend line and then in February 2017 it again moved above the trend line.
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Softer-than-expected U.S. producer prices and retail sales numbers last month briefly pushed the dollar lower, but Wednesday's dollar uptrend remained intact.
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Here are his reasons why: — The $340 level marks consolidation at the end part of a "beautiful uptrend" that has been in place.
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The recent rebound rally moved above the upper edge of the long-term GMMA and confirmed the development of a longer term uptrend.
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It starts from the low of 2016 December, but the second anchor point for the uptrend line does not appear until 2017 January.
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"The uptrend that began in 2016 is still intact, but we're testing that now," said Robert Sluymer, technical strategist at Fundstrat Global Advisors.
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But history indicates that a long uptrend like this one will eventually shift downward, even if we can't say when it will happen.
|
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And the central bank said Monday that it had an "uptrend" in its reserves, while denying that anything was out of the ordinary.
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The dollar maintained an uptrend against the yen, rising 0.20 percent to fetch 110.97 yen,, close to Friday's four-month high of 80.503.
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So as the gaming industry continues its seemingly unstoppable uptrend in 2018, Cramer and Moreno expect the rising tide to lift these boats.
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Moreover, it has been in a steady uptrend since the early 1970s, when it represented barely 10 percent of U.S. overall economic activity.
|
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Accord to Citi research, another driver of core earnings growth for UPS is the strong uptrend in parcel volume, especially in e-commerce.
|
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In addition to making higher lows and higher highs over the last nine months, the name has actually broken above its recent uptrend.
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A fall below 23,500 finds the next strong historical support level near 22,500, which is the value of the long-term uptrend line.
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Relocating those populations costs vast sums of money, raising the question of who will cover those costs as sea levels continue their uptrend.
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Investors watch for consolidation around the 2265,23 level, but that is in preparation for a further uptrend development with a target near 2265,23.
|
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The short-term GMMA provides information about the thinking of traders, and so the wide separation shows traders are confident about the uptrend.
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The new record high in recent weeks proves the uptrend is secure, more stocks are rising than are falling on a running basis.
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Moreover, gold has also fallen below an uptrend line that appeared when the metal began its rally, suggesting that gold's run may be done.
|
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Major U.S. indexes continued its uptrend last Friday on the back of President Donald Trump's promise of a tax plan in the near future.
|
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The continued rebound from the long-term group of averages in the Guppy Multiple Moving Average (GMMA) indicator is further confirmation of uptrend sustainability.
|
|
Traders say the market would need to see a similar uptrend in warehouses monitored by the Shanghai Futures Exchange to believe demand was weakening.
|
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This consolidation is part of a longer-term uptrend behavior so traders should watch for a rebound rally and retest of the $1,5803 level.
|
|
The social media giant is current down more than 17 percent this year, but has been in an uptrend since June — surging 30 percent.
|
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Analysts expect the dollar/yen to remain in an uptrend due to the diverging monetary policies of the Fed and the Bank of Japan.
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|
Read More Why 2016 keeps getting uglier for US economy Gordon noted that the stock has been trading in a clear parallel uptrend channel.
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The ETF's gains relative to the have reached new highs, Wald said, which is a bullish sign for momentum stocks to continue their uptrend.
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The classic GMMA pattern of bullish test and re-test behavior is often associated with the change from a downtrend to a new uptrend.
|
|
To determine how low FXY could go, Gordon looked at an uptrend line that has been in place for FXY for over a year.
|
|
But the uptrend was narrowly maintained as trade-policy conflicts, rising bond yields, a tech-regulation panic and an unnerving wobble on global growth.
|
|
Furthermore, Gordon noted a bull flag formation that leads him to believe EA will resume the uptrend toward the top end of the channel.
|
|
When President Trump announced his decision to withdraw from the Iran-nuclear agreement Tuesday, the markets merely hesitated and then resumed a gentle uptrend.
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"The rise we've seen in U.S. crude has been more of a short covering rally rather than a return to the uptrend," he added.
|
|
The threat of those trade wars was enough to bring to a crashing bend the multi-year uptrend in the Dow in 223 February.
|
|
This is often a strong trend reversal pattern, so the long-term analysis suggested oil would develop a new uptrend and move toward $72.
|
|
The "Mad Money" host revealed that he remains bullish about the stock, which has been on a steady uptrend in the past six years.
|
|
In the years since, he said, the market has been "on a slow uptrend," thanks to a stable economy and an increase in tourism.
|
|
The S&P will develop a correction in the trend and this will be a buying opportunity to join a continuation of the uptrend.
|
|
"Last year's uptrend has reversed and palladium prices are down more than 20 percent from their January high," Julius Baer said in a note.
|
|
"For now, the uptrend is very much intact in gold, reacting to external geopolitical events," said Jonathan Butler, commodities analyst at Mitsubishi in London.
|
|
The fall below the long-term uptrend line is potentially bearish, but other features suggest the bear is not in command of the market.
|
|
Investors will look for the Dow to pause and consolidate in that area before entering again for a continuation of the long-term uptrend.
|
|
One week ago, nearly everyone believed the stock market was overbought, over-loved and overheating – and overdue for a dip to refresh the uptrend.
|
|
That suggests that the underlying uptrend is stronger and more resilient, which gives a stronger support base for a continuation of the rebound rally.
|
|
They also watch for the short-term GMMA to compress and move upwards because that shows traders have more confidence in the uptrend continuation.
|
|
Chinese shares bucked the uptrend, following their week-long closure for the Lunar New Year holiday during which global stock markets logged steep losses.
|
|
"An important level has been broken: the 40-week moving average and the uptrend that goes all the way back to early 2016," Suttmeier said.
|
|
Each time UnitedHealth's stock has pulled back within its uptrend over the past three years, it has proven to be a buying opportunity, said Cappelleri.
|
|
"It happens to intersect with that long term uptrend so you may see traders trying to position for 135 into that earnings release," he said.
|
|
The subsequent build has seen none of the "arrival events" experienced in the London market but the uptrend has held steady and continues to run.
|
|
This, along with a "measured move" target of about $72 on the weekly chart, gives Keene the impression that the XLE will continue its uptrend.
|
|
However, Kuroda has maintained his optimism on Japan's economy, saying that it continues to recover moderately and is helping keep inflation on a broad uptrend.
|
|
The good news for investors is that the clear uptrend we saw in financial markets during the first quarter should continue in the coming months.
|
|
"We saw an uptrend in the UK sales almost immediately following the vote," vice president of investor relations, Mark Aaron, said on a conference call.
|
|
Hiscox Chief Executive Bronek Masojada said the storms meant insurance and reinsurance rates were on an uptrend, impacting rates in affected areas and specific sectors.
|
|
What's more, a "nice uptrend" that's been forming over the past few months has been reinforced by a breakout over what Ross sees as support.
|
|
On the other hand, India and Malaysia are in an uptrend, with more than half of their companies trading above the 200-day moving average.
|
|
In a relatively short period of time, Jefferies says inflation has climbed higher and could continue on its uptrend through the rest of the year.
|
|
The stock is up 5.68 percent year to date, and has been on an uptrend since the company's late January earnings report beat consensus estimates.
|
|
While he believes that the stock is ultimately "very much in an uptrend," he doesn't think the picture is as rosy in the nearer term.
|
|
"A deeper pullback would be constructive in that it would generate short-term oversold conditions within the framework of the long-term uptrend," Stockton said.
|
|
This type of pattern often emerges when a stock in an uptrend consolidates, the idea is that there could be a breakout above previous resistance.
|
|
Zhou from Jones Lang LaSalle said he expected the new tightening to mainly hurt home transaction volume, while prices would continue on a moderate uptrend.
|
|
These are currently showing signs of compression but until they compress completely and turn upwards, they continue to provide an obstacle to a new uptrend.
|
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So I think on this pullback that we're getting right now, this is a very important support level right back to that uptrend support line.
|
|
Kuwait's blue chip index, in an uptrend for the past two weeks ahead of Kuwait's partial entry into FTSE Russell's emerging market index on Sept.
|
|
A strong uptrend breakout is signaled when the lower edge of the short-term GMMA moves above the upper edge of the long-term GMMA.
|
|
Part of this is thanks to an uptrend channel in the S&P 500 that has been in the works since February of this year.
|
|
On the other hand, the Australian dollar has broken a long term uptrend and is rapidly moving towards 12-month, and potentially, two-year lows.
|
|
For example, the latest consumer confidence index numbers do not strongly suggest any imminent change in the uptrend we have been seeing for so long.
|
|
If this is the Fed's intention and global economic growth has truly turned higher, interest rates could be in an uptrend until the early 2040s.
|
|
The general upwards bias in the gold price starting in January 2017 suggests a weak and slow uptrend with a long-term target near $1,490.
|
|
Yes, we're up a bunch, but I think if we repeat history here, we're due for a short-term consolidation before resumption of the uptrend.
|
|
The continued expansion in the long-term GMMA supports the conclusion, and the behavior of the short-term GMMA also suggests continuation of the uptrend.
|
|
Dubai's medium-term technical outlook turned positive this week as it began to rebound from the bottom of an uptrend channel dating back to early 2016.
|
|
Yields have been on an uptrend since last week's U.S. election, amid speculation that the administration of President-elect Donald Trump will embark on inflationary policies.
|
|
No matter the outcome of the midterms, Craig Johnson, chief market technician at Piper Jaffray, said the long-term uptrend in health-care stocks remains intact.
|
|
"The overall uptrend is due to some window-dressing in some of the blue chip counters," said Dimantha Mathew, head of research at First Capital Holdings.
|
|
On a short term chart of the IWM, the technical analyst finds that the ETF has violated a recent uptrend, creating a potential level of resistance.
|
|
"They say don't sell a quiet market, but I'm very much on guard for a reversal out of this uptrend channel in the Russell," Gordon said.
|
|
"Through the volatility they continue to show no sign of an uptrend," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.
|
|
"This thing is in a very nice uptrend, I expect this trader is waiting for a move kind of back to those recent lows," Nathan added.
|
|
Drawing a line from Tesla's February lows through the drop in June, Gordon sees an uptrend going through $210 that could continue in the coming months.
|
|
On the same chart, Gordon also takes a look at Tesla's highs this year, extending a line that crossed through the previous uptrend line at $210.
|
|
An inverse head and shoulders pattern like the one on Spiro's weekly chart is seen as an indication that an uptrend could be on its way.
|
|
If anything, the tech company looks to still be following what Wald sees as a long-term uptrend that has been in place since January 2015.
|
|
Market breadth continues to lag a bit, with fewer than half of all S&P 500 stocks in a technical uptrend, to cite one soft spot.
|
|
They jumped by 10% to 10.6 million tonnes (bulk weight) in the first half of 2019, extending an uptrend that has been running continuously since 6003.
|
|
The Dow transports and the Russell 2000 fell below their March 2009 uptrend lines last week, following the path of the Dow industrials the week before.
|
|
The trader points to a "ripping uptrend" that has been in place for all of 1913 and finds a "parallel channel" in the chart as well.
|
|
According to Ross, the long-term weekly chart illustrates the stock's ability to stay above a critical trend line and looks positioned to continue the uptrend.
|
|
The NYMEX oil price has pulled back sharply from $763 to around $66, but that is taking place within the environment of a well-established uptrend.
|
|
Gordon pointed out that since 13, the stock has sat in a parallel uptrend, and that upside resistance on the chart doesn't actually appear until $250.
|
|
In the future, investors watch for an expansion of the long term GMMA group of averages because this confirms strong investor confidence in the new uptrend.
|
|
And while the stock has found support at $90 over the past year, Nathan said it's broken through another important support level in its multiyear uptrend.
|
|
Looking at a chart of the tech giant, Gordon points out what he describes as a "very strong" uptrend going back to the summer of 2016.
|
|
Gold is biased to break a resistance at $1,546 per ounce and thrust to $1,568 before reversing the uptrend, according to Reuters technical analyst Wang Tao.
|
|
"What we found was the market had a very minor pullback, consolidated for a few weeks before ultimately, in most cases, resuming its uptrend," O'Hara said.
|
|
The short-term GMMA did not develop any significant compression with this pullback and this shows very strong trader confidence in the continuation of the uptrend.
|
|
In addition to the triple bottom, Worth noted a distinct uptrend on a five-year chart and said the stock is on pace to follow the trend.
|
|
The analyst believes February's strong historical performance during bull markets will continue despite the heated political climate that has raised doubts about the sustainability of this uptrend.
|
|
The dollar held its recent gain on the Japanese yen at 111.68, but again needs to clear the March top of 112.12 to spark a true uptrend.
|
|
I MEAN, I THINK THE GENERAL TREND OVER THE LAST YEAR IS THAT WE'VE SEEN SOME UPTREND IN WAGE COMPENSATION INFLATION, BEEN VERY VOLATILE MONTH TO MONTH.
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Looking at a chart of EEM, Gordon says the ETF seems to have fallen below what he sees as an "uptrend" that he believes started in January.
|
|
The dollar held its recent gain on the Japanese yen at 393, but again needs to clear the March top of 112.12 to spark a true uptrend.
|
|
Hurricanes and wildfires wreaked havoc on some of the biggest names in the utilities space in 2018, and yet the sector is still adhering to its uptrend.
|
|
Still, Johnson said, "I still think that it's just a correction in the context of a longer-term uptrend for the financial sector itself," he said Tuesday.
|
|
This long-term head-and-shoulder pattern has developed on top of the long, upsloping trading channel that has defined the Dow uptrend that began in 2011.
|
|
"You may see some correction today, or maybe tomorrow, but generally speaking, the uptrend is intact, with demand still supporting the prices," a Shanghai-based trader said.
|
|
"We can see the dollar was in a beautiful uptrend from 2014 through the beginning of 2015, but since March we've gone sideways," said the CNBC contributor.
|
|
While gold has drawn support from risk-averse markets, prices have not embarked on a significant uptrend, with the $1,290 level acting as a key technical barrier.
|
|
Gold is on an uptrend and if it goes above the $1,535 level it would be the next leg in the bull market in gold, Matousek said.
|
|
Dudley's comments, if hawkish, could reinforce the dollar's uptrend, which when it rises makes dollar-denominated commodities more expensive for holders of other currencies, potentially weakening demand.
|
|
"If the Fed raises rates in December and the dollar continues its recent uptrend, we could see some investors pulling money out of emerging markets," Mishra said.
|
|
Any pullback and successful retest of $54 as a support level is a buying opportunity on the long side for the development of a longer-term uptrend.
|
|
The S&P 500 is now coiled tightly between lines running down from the January summit and the uptrend from the worst levels touched three months ago.
|
|
"I would like to establish a long trade — again, defensive in nature, but respecting a very strong uptrend here — through the 305, 310 resistance area," Gordon said.
|
|
If the trade wars were welcomed, then the Dow would resume its uptrend with a strong and steady breakout above the upper edge of the trading band.
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Two big forces dominate the stock market right now: a bullish uptrend that is creating successive all-time highs, and volatility that is nowhere to be seen.
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Wednesday's air pocket also did not quite represent a reversal of the market's longer-term uptrend – though that advancing pattern since the spring is now being tested.
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Gordon noted that while the ETF has been in an uptrend since the summer, it's about to break the consolidation that he sees near $11.50 in USO.
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Since 224, there have been ups and downs in consumer confidence lasting months, but those downward swings have not interrupted the long uptrend in the United States.
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The fall seems to be a small downturn with some profit-taking after the recent uptrend, said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.
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If it's violated something like an uptrend, which probably means it's put in place a lower high and a lower low, take a little off the table.
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This is a clear combination of bullish factors and suggests there is a high probability that this rally and retreat is part of a longer-term uptrend.
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In its policy statement, the central bank said it expects Japan's economy to "continue its moderate expansion" and that domestic demand is likely to follow an uptrend.
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The fall from the Wednesday high of $1,343.86 could be deep enough to signal a reversal of the uptrend from the May 30 low of $1,274.44, Tao said.
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Going back almost 10 years, Gordon points out that while the S&P 500 has been in a strong uptrend, the FXI has actually seen a triple top.
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Everyone said, rightly, that the tape was overbought and investor sentiment overly optimistic, but the longer-term uptrend was in place and you'd want to buy any dip.
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Nicholson said there is still momentum behind the index's current uptrend - the ASX closed above the 64.303,200 level for the first time on Wednesday since January this year.
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Shares of Tesla started the year in an uptrend, and a number of factors, including record vehicle deliveries in the fourth quarter, pushed the stock higher throughout January.
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Most analysts and traders see the dollar resumes its uptrend if the Federal Reserve signals it may tighten again after raising rates in nearly a decade last month.
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Fewer than half of all S&P 500 stocks are above their individual 50-day moving average, which means most stocks are not in a short-term uptrend.
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A move to the bottom of the uptrend channel that's been in place since the 2008 lows would have the S&P 500 targeting 1,800, or even lower.
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As stocks have shrunk, distillate prices and margins have risen to encourage refiners to produce more of the fuel, with a clear uptrend since the end of June.
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But they have been silent recently as a broad dollar uptrend, driven by expectations of steady interest rate hikes by the U.S. Federal Reserve, helps weaken the yen.
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After essentially moving sideways in 6003 (the main reason the stock market got off to such a rocky start last year), earnings resumed a healthy uptrend in 2017.
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The current value of the uptrend line is near $1,305 and that is also near to the value of the lower edge of the long-term trend line.
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"Now, while the uptrend is in question, we'd expect the underperformers — Apple — to lead on the downside despite the heavy action in the [semiconductors] right now," Gordon said.
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The new index rally form the upper edge of the long-term GMMA carries the index above the resistance level and develops into a new long-term uptrend.
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However the clearly visible changes in volatility behavior, and the compression and rollover of the long-term GMMA show beyond doubt that the long-term uptrend has ended.
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Each time the accumulation of short positions has coincided with a downtrend in WTI prices, followed by an uptrend as the short positions have been liquidated (tmsnrt.rs/2bwp8v4).
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The percentage of S&P stocks in an uptrend (above their 22008-day average) peaked in February 22006, whereas this number has stayed firm in the current tape.
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" Briggs said he does not see an uptrend in yields and sees the 1.75% to 2% zone on the 10-year yield as a "buy the dip zone.
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The Saudi index fell 1.5 percent to 6,177 points, closing below its mid-March low of 6,202 points, which suggested an uptrend since mid-February may have ended.
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On a year-to-date chart of the stock, he said that Amazon has pulled back to an uptrend support line that had been in place since February.
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To determine his levels for the trade, Gordon looks to the uptrend line, which is sitting near $35, as he believes Taiwan Semi wouldn't fall below that trendline.
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The Dow chart now has three significant chart patterns and they combine to define the Dow, the strength of the longer-term uptrend and to identify support features.
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In the meantime, they simultaneously shorted the Cboe volatility index amid expectations that market moves would be contained, even as the market continued a steady and spectacular uptrend.
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"It is oversold in an uptrend using that 200-day moving average as a proxy for trend both in absolute terms and relative to the market," said Wald.
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"If we get below $66 here, you're arguably violating the long-term uptrend channel," he said, referring to technical levels that bracket U.S. crude's upward trajectory this year.
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They said prices would likely move lower and their long-term outlook had become more negative since gold broke below its 13-2018 uptrend line, now around $1,215.
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Any pullback and successful retest of the trendline support value near $58 is a buying opportunity on the long side for the continuation of the long-term uptrend.
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The Dow chart now has three significant chart patterns and they combine to limit the Dow rally in the short term and the strength of the longer term uptrend.
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Most chart experts continue to cite the solid uptrend, the indexes holding above relevant moving averages, cyclical sectors outperforming defensive ones and measures of underlying market stress remaining subdued.
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Sure, options traders aren't braced for something nasty, but unless and until VIX turns higher into a new uptrend, this doesn't top the list of reasons to turn bearish.
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Mark Newton, president and technical analyst at Newton Advisors, said Tuesday the stock could suffer another two to three days of weakness, but it ultimately remains in an uptrend.
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Yields for the U.S. benchmark have been on an uptrend thanks to a hawkish Federal Reserve as it looks to raise interest rates another 25 basis points in December.
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Jeff deGraaf of Renaissance Macro Research has been respectful of the market uptrend but on alert for a defensive turn in what he sees as a late-cycle environment.
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The Dow chart now has three significant chart patterns and they combine to limit the Dow rally in the short-term and the strength of the longer-term uptrend.
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The Dow chart now has three significant chart patterns and they combine to define the DOW rally in the short term and the strength of the longer term uptrend.
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The dollar surrendered some of its recent gains on the Japanese yen to 1.1174, and again needs to clear the March top of 112.12 to spark a true uptrend.
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Egypt's index, last at 6,004 points, broke on Tuesday before its minor uptrend line from mid-January, suggesting the rally of the last few weeks has ended for now.
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"The U.S. dollar has had a great run but after Friday's data the uptrend is exhausting with the market fully discounting a 25-basis-point rate hike," Lien said.
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But analysts say the data, considered as highly volatile, does not signal any major change in a moderate but broad-based uptrend in capital expenditure in a recovering economy.
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"The economic fundamentals and profits estimates are positive for stocks, and despite the recent volatility, equities remain in an uptrend," said Alan Gayle, president at Via Nova Investment Management.
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Canada's annual inflation rate decreased to 2392 percent last month from 24.5 percent in September, while a recent uptrend in the Bank of Canada's measures of core inflation stalled.
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Gordon observed Thursday on CNBC's "Trading Nation " that the stock has been trading in an uptrend parallel channel for most of 2018, recently falling into a period of consolidation.
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"Geopolitical tensions are likely to be supportive and may put the brakes on what would otherwise be a retracement from the mid-March uptrend," MKS said in a note.
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The dive in yields and Fed rate expectations had put an end to a multi-year uptrend for the dollar, though it was finding some support in early trading.
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International real estate On the island's less-trafficked northern coast, where "everything is on a smaller scale," a stable economy and increased tourism are driving a slow market uptrend.
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While Taiwan Semi is in the middle of an uptrend, as shown in a chart Gordon provided, the trader is particularly interested in a "symmetry" that has also formed.
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This is up 15.4 million tonnes since the start of the year and inventories are now 63 percent higher than they were in June 2015, when the uptrend started.
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Given the highs and lows in this uptrend, Gordon said he believes the TLT hasn't hit its resistance at around $150, which is the upper end of the channel.
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The percentage of index components in an uptrend above their 200-day average has risen to 90 percent, Wald pointed out, as the index has rallied in recent sessions.
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On a chart of XLV, Gordon points out that the ETF has been making a continuous "uptrend" parallel channel, and there is still room to run on the upside.
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The Egyptian index dropped 1.8 percent to 11,2734 points, confirming a bearish engulfing pattern on the daily candlestick chart - a classic technical sign of the reversal of an uptrend.
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In this case, it doesn't fit — you have to settle for an UPTREND, which is probably better in the end, what with compound interest, if you're thinking long term.
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While the stock has since given back the majority of those gains, Worth's charting reveals that since the report Starbucks has been able to successfully rebound off its uptrend line.
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"If the ETF is not approved we expect a correction and consolidation period but growing adoption and the deflationary supply of bitcoin suggests a continued uptrend in the medium term."
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Positive or negative earnings surprises can have a profound impact on the performance of an individual stock, and can often propel a given stock on a meaningful uptrend or downtrend.
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We use the ANTSSYS trade and analysis method to identify the opportunities as the breakout rally develops and use pullbacks to the newly defined uptrend line as a entry point.
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A so-called golden cross is formed when a security's 50-day moving average crosses above its 200-day moving average, potentially signaling the beginning of a longer-term uptrend.
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That takes it to roughly 2,480, and that happens to bring it right back to an uptrend that's been in place since 2016," he said Thursday on CNBC's "Trading Nation.
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Historically, when the VIX spikes while the market is in an uptrend, above-average returns tend to be seen in stocks over the next three to six months, Wald said.
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"[W]e think this little near-term pullback should be bought in anticipation for a resumption of that breakout and a longer-term uptrend that's still in play," he said.
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Options-market veterans say a low VIX is compatible with sturdy share prices, and VIX would need to begin an uptrend above 14 or so to raise a yellow flag.
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Since 1950, the has performed even better during the summer months when it begins May in an uptrend like it is now, according to data compiled by analysts at Strategas.
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U.S. 10 year yields have been on an uptrend thanks to a hawkish U.S. Federal Reserve as it looks to raise interest rates by another 25 basis points in December.
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"But I think most did not expect that uptrend in dollar/yen, because there are no materials on which to sell the yen further and buy the dollar," he said.
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Nevertheless, with investors believing austerity policies in the Gulf have yet to show up fully in corporate earnings, the markets may lack the trading interest to mount an extended uptrend.
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In the Gulf, markets again failed to follow global equities' uptrend, underlining how shaky oil prices, sluggish economies and an uninspiring corporate profit outlook are deterring investors in the region.
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That would certainly be cause for concern and [I'd] think that we could see weakness, but for now, this longer-term downtrend from last year has turned into an uptrend.
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That helped boost stocks, but it broke the uptrend in sovereign yields, and now has traders focused on meetings by the Bank of Japan Tuesday and European Central Bank Thursday.
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Muscat's index, which has been in an uptrend since the beginning of the month, may get a boost after the top two Omani telecommunication sfirms posted net income above forecasts.
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A retracement to this level is uncomfortable for investors, but a rebound from the trend line support level is a buying signal for a continuation of the long-term uptrend.
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"Possible setbacks caused by renewed protectionist sentiment and global liquidity tightening in the near term are unlikely to derail the uptrend in Asian consumption, in our view," the report said.
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Sheng reiterated that interest rates are on an uptrend, underscoring Beijing's shift to a tighter policy stance to temper rampant credit growth and put the economy on an even keel.
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Nickel bucked the uptrend across the complex, retreating from Tuesday's seven-week top of $10,900 a tonne, when the Philippines said it might suspend 20 more mines for environmental infractions.
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"The SPX extended its uptrend to a new all-time high last week, resolving another consolidation phase to the upside," said Katie Stockton, chief technical strategist at BTIG, in a note.
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"The markets are in an uptrend with not too many signs of weakness, but caution remains ahead of the Fed policy", Anupam Singhi, chief operating officer at William O'Neil India, said.
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"If we get a hold above $1,306 to $1,308, that would confirm a breakout above this level, which would be positive and signal a continuation of the larger uptrend," he said.
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In an apparent effort to reassure investors that the uptrend in equity prices is justified, finance minister Ali Tayyebnia visited the exchange on Sunday and spoke positively about the market's gains.
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After Amazon's rally in the first half of 2018, it spent the second half of last year trading lower, which Wald's team saw as "a correction in an uptrend," he said.
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While gold has drawn support due to risk-averse markets, prices have not been able to register a significant uptrend with the $1,290 level further acting as a key technical barrier.
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"We might have a test of the lower trendline if we are not just in a healthy uptrend pullback that we've seen since the lows back here in 2018," he said.
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Second, each of these ETFs is also trading below its five-day moving average, thereby offering a near-term 'buy on the dip' opportunity, given the longer-term uptrend at hand.
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Strength in cyclical stocks — such as J.P. Morgan Chase breaking out of a two-year trading range or Caterpillar trading up after its weak earnings — point to a more stable uptrend.
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The rebound from the lower edge of the long-term GMMA has a resistance target near $18.75.. The strong separation in the long-term GMMA confirms a continuation of the uptrend.
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In the past week, with stocks sitting around 4 percent from record highs, nearly 70 percent of large-cap issues were in an uptrend, according to Chris Verrone of Stragegas Research.
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PIMCO's head of asset allocation for EMEA, Geraldine Sundstrom, said commodity prices appeared to be hitting a bottom, Chinese growth was stabilizing and the dollar was no longer on an uptrend.
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It is formed by the 50% retracement of the uptrend from $3.14-3/4 to $4.64 and the 0.103% retracement of the downtrend from $8.49 to $3.14-3/4, he said.
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Johnson points to market breadth – the amount of stocks advancing versus the amount of stock declining – as a sign that the longer-term secular uptrend of the broader market remains intact.
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This is a strong feature on the Nikkei chart so it was not surprising that the index paused and consolidated around this level for several weeks before continuing the uptrend breakout.
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The media giant is also trading above its 200-day moving average — a key technical indicator showing a stock's trajectory — which Stockton believes signals a continuation of a long-term uptrend.
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The Aussie has been on an uptrend since early May, as a bull run in the U.S. dollar - which began when Donald Trump won the U.S. presidential election in November - ended.
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"The uptrend is justified, but I am definitely not convinced about the speed we got here," said Georgi Slavov, global head of energy, iron ore and shipping research at Marex Spectron.
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Stocks have recorded the highest number of new 26-week highs since the end of 2015, and a growing number of equities are entering an uptrend, according to Piper Jaffray research.
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"That's the first close below the 823-day moving average after an extended uptrend in the stock market," said Gordon Thursday on CNBC's "Trading Nation," referring to the April 13 close.
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Several analysts have said the dollar's uptrend remains intact next year, but noted the risk of dollar weakness given doubts surrounding how much dollar appreciation a Trump White House will tolerate.
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The key part of the answer to both questions is the strength of support near $0.77 and the strength of the uptrend as revealed by the Guppy Multiple Moving Averages (GMMA).
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Meanwhile, South African start-up GetSmarter has capitalized on the uptrend and is the software and online campus provider for the Said Business School at Oxford University's new online fintech course.
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Jim Iuorio, managing director of TJM Institutional Services, is undeterred by what's been a volatile June for gold as he believes the commodity will enter into a long-term uptrend swing.
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"The market missed the imports but I think the price increase is temporary as opposed to a new uptrend," said Dominick Chirichella, senior partner at Energy Management Institute in New York.
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The bulls are talking about an uptrend preserved and strong corporate fundamentals, while skeptics wonder why stocks have struggled despite all the good news and cite a tired, aging economic cycle.
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Shares of the technology giant fell nearly 16% in August, sharply reversing their broader 2019 uptrend and falling to just under the $47 level by the end of trading on Friday.
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The dive in yields and Fed rate expectations has put an end to a multi-year uptrend for the dollar, to the benefit of the Japanese yen, euro and Swiss franc.
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Given that a perfectly routine decline following a strong multi-month rally could amount to 2% to 5%, a further drop of 2% to 3% would not compromise the broader uptrend.
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" JOSEPH THOMAS, HEAD OF RESEARCH, EMKAY WEALTH MANAGEMENT, MUMBAI "CPI at 7.5% broke the ceiling going beyond the RBI tolerance limit of 6%, fully reflecting the recent uptrend in food prices.
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A retracement to this level would be uncomfortable for investors, but a rebound from the trend-line support level is a buying signal for a continuation of the long-term uptrend.
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The technical bull flag sign shows a strong uptrend in an asset price, such as gold's rise through mid-December to the end of January, followed by a period of consolidation.
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Despite the uptrend in rates, bond prices found relief early Thursday after the U.S. Labor Department reported that worker productivity fell in the fourth quarter, the first decline since early 2016.
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This means the trend line Gordon references is now what he deems the "resistance" for the ETF, making $325, where the uptrend line currently sits, the level that Gordon is watching.
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Adams noted how the chart followers believe the current market uptrend "remains intact," while the value investors have "intensified their warnings" in recent weeks over the potential of a market correction.
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"The contracts are in a strong uptrend, but one that looks at the moment to be a bit tired," said Robin Bieber, technical chart analyst at London brokerage PVM Oil Associates.
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"We think that overall as companies start guiding towards 2019, so far, this should lead us into a further uptrend, and insure investors that we're still on very solid ground," Gibbs said.
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" He added that the RYT equal weighted technology ETF relative to the S&P 500 "for the first time all year has broken a pretty meaningful uptrend line going back since September.
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The ECB's Draghi, on the other hand, could talk down a recently surging euro, some analysts said, although Jane Foley, currency strategist at Rabobank, believes the euro's uptrend is far from over.
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A little late-summer storm and a pullback of a couple or few percent in the indexes from all-time highs would not endanger the strong uptrend that began six months ago.
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He also said recent capital outflows from Saudi Arabia had been in large part the result of rising investment by Saudi quasi-sovereign institutions, and that foreign reserves remained in an uptrend.
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According to many chart analysts, the rally in gold prices this year may be the start of a prolonged uptrend for the metal, which is already up nearly 20 percent in 2016.
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This breakout is a relief reaction, so there is a good probability the market will retreat and use 5250 as a support and consolidation level prior to a continuation of the uptrend.
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While gold has managed to draw support due to risk-averse markets, prices have not been able to register a significant uptrend with $1,290 levels further acting as a key technical barrier.
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"While we don't expect the Iranian unrest to reach a full blown political situation just yet, the protest will add to an already positive uptrend in oil and gold prices," Cardillo said.
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The dollar's recent uptrend has been supported by generally upbeat U.S. economic data that has kept the Federal Reserve on track to raise interest rates at least two more times this year.
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This is an important question because the answer tells traders if it is time to tighten stops and get ready to exit, or buy the dips in anticipation the uptrend will continue.
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But the equity market bent without breaking, leaning on defensive and dividend stocks to preserve a long-term uptrend until the data firmed up and the Fed signaled its adjustment was over.
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He compares the recent run to the resolutely steady uptrend seen in 22, a year when the market was in a new advance following a long sideways period and a growth scare.
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Recent surveys have shown companies are becoming reluctant to raise prices or even cutting them on weak consumption, casting doubt on the BOJ's view that a broad uptrend in inflation is intact.
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"The USD has lost the single most important source of its over-valuation, a strong carry advantage," he added, warning this could end a dollar uptrend that has lasted since mid-2018.
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The best advances of this 11-year uptrend have come when the saturating fear of some daunting threat (sovereign-debt defaults, oil crash, China financial crisis, trade war) proved unfounded or overdone.
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The measure of consumer confidence has been in a steady uptrend from the lows hit in 2009, but turned particularly strong last year, said Erin Gibbs, portfolio manager at S&P Global.
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"A very strong jobs figure will trigger some short term pain for gold, however, the underlying uptrend should prevail in the medium term," MKS Group trader James Gardiner wrote in a note.
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Once the Brexit shock faded, the market resumed its uptrend, only to finally run out of steam after Trump's surprise victory in November, which boosted the U.S. dollar against other Asian currencies.
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The hit another record high last week and is ahead by nearly 10 percent for the year, confirming its longer-term uptrend through August and now most of September — historically challenging months.
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These bullish features include a successful test and rebound from the support level near 84.53 and a continuation of the uptrend behavior supported by the long term Guppy Multiple Moving Average indicators.
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"Exports clearly rose in July, indicating that a slight decline in second-quarter exports was a brief interruption of an ongoing uptrend," said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities.
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So this could be a test for a tape that has earned the benefit of the doubt by bending in August without breaking, and resuming an uptrend with a relatively broad rally.
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"The USD has lost the single most important source of its over-valuation, a strong carry advantage," he added, warning this could end a dollar uptrend that has lasted since mid-20.3.
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Earnings are rising, rates are falling, and the technical indicators show the market in an uptrend, so if the hearings maintain the status quo, it could move money off the sidelines into stocks.
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But the latest sell-off has sent the S&P plunging below the uptrend line "with quite a vengeance," according to Gordon, to the point where he believes more pain could be ahead.
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"It's been making new highs or close to making new highs right in this uptrend for the last three years which is something really not many stocks can claim right now, " he said.
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The Nasdaq-20163 index — a proxy for the mega-cap growth stocks that carried the market until they faltered recently — is sitting on an even longer uptrend line from the March 22016 low.
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Speaking in terms of levels, the breakout at $1,800 is now support and with the resumption of this uptrend we're thinking break out above that $2,050 resistance that was the peak from 2018.
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This is a strong feature on the Nikkei chart so there is a high probability the market will again pause and consolidate around this level for several weeks before continuing the uptrend breakout.
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"Hawkish views from Fed officials can prompt short covering in the dollar, but they are not sufficient enough to kick off an uptrend," said Junichi Ishikawa, forex analyst at IG Securities in Tokyo.
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Looking at the charts, technician Craig Johnson of Piper Jaffray said the long-term uptrend in the consumer discretionary sector ETF (XLY) remains intact, and he expects the run to continue in 2016.
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Given there are solid reasons to be somewhat skeptical that January's import strength represents a new uptrend for China's coal imports, it's hardly surprising that thermal coal prices have been slipping in Australia.
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"We've seen quite a recovery in the crude oil market and the underlying stocks in the energy sector are indicating that the uptrend can continue," Todd Gordon told CNBC's "Trading Nation " on Wednesday.
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This combination of two support features suggests that the dollar index will find strong support near $0.99 and use this as a rebound rally point for a continuation of the long term uptrend.
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Gavekal strategists say the euro is likely to remain on an uptrend even though there are risks of a correction, because of strengthening fundamentals such as rising confidence and an improved growth trajectory.
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This article will focus on a quick method for locating stocks in an uptrend using a series of specific criteria to scour the entire market using the StreetSmart Edge® Screener Plus tool.
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Considering all of this, the results page will give me well-rated (by S.E.R.) stocks above $10 per share, trading above their 20-day average price and in the midst of an uptrend.
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This combination of two support features suggests that the dollar index would find strong support near $0.99 and use this as a rebound rally point for a continuation of the long term uptrend.
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Gavekal strategists say the euro is likely to remain on an uptrend even though there are risks of a correction because of strengthening fundamentals such as rising confidence and an improved growth trajectory.
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That would be an issue heading into the new year, but because we've had that broad participation, it is something that can persist, and suggests that the uptrend still has legs to it.
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"At this point in time, the charts just look like a pullback within the context of a bigger uptrend," Craig Johnson, chief market technician at Piper Jaffray, told CNBC's "Trading Nation " on Friday.
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In his own words, the trader describes an island reversal as consisting of a gap against a trend, in this case an uptrend, followed by a gap back in the initial trend direction.
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Analysts say capital spending should follow an uptrend given a generally favorable investment situation due to a hefty profit boost from the weak yen, ageing of existing production capacity, and low borrowing costs.
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While the stock has been in an uptrend for the past five years, said Gordon, there was "some downtrend resistance" where the shares did see a swing down to around $155 from $165.
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"It's obviously a long-term downtrend for most retailers so that disadvantages them relative to the broader market, which of course is in a long-term uptrend," Fairlead Strategies founder Katie Stockton said.
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This proved to be a solid support feature and the long-term GMMA continues to remain well separated, showing good investor support for a continuation of the uptrend and a move above 3,23.
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Looking at a long-term chart of the S&P 22, Gordon points out that an uptrend that's been in place since 2740.69 has acted as support for the market whenever stocks have fallen.
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"It would be premature … to consider that the volatility in the stock market will disappear and that a sustained new uptrend has begun," Bruce Bittles, chief investment strategist at Baird, said in a note.
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Last week, Gordon told CNBC's "Trading Nation" that a daily chart of the S&P 1623 ETF (SPY) showed a gradual uptrend, tapering off into what he called a "three-way correction" move recently.
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Copper has risen recently due to hopes of further easing by central banks to help avert an economic downturn but some observers said the uptrend was unlikely to be sustainable due to weak fundamentals.
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SHANGHAI, Nov 21 (Reuters) - China stocks rose to a fresh 10-month high on Monday, led by blue-chips, but gains were limited as some investors remained sceptical that the uptrend could extend further.
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Some analysts say capital expenditure remains in an uptrend, citing infrastructure demand for the 2020 Tokyo Olympic Games and the need for companies to spend on equipment to streamline operations amid intensifying labor shortages.
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After spending much of the second half of 2016 in an uptrend, the dollar has lost around 2.5 percent in its value against a basket of other leading currencies since its early-January peak.
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"We're not trying to hit a home run here and call the end of a 35-year uptrend in the bond market; we're just trying to go to the next zone of technical support."
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" Confident that the longer-term market uptrend remains intact, she says, "We remain on the lookout for a buying opportunity, which appears more likely after a shakeout in high-beta areas of the market.
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"We are in our 10th year of an economic uptrend but if power becomes unaffordable, we cannot retain a functioning industrial basis," Altmaier said at the event, which was organized by business daily Handelsblatt.
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He said the October jobs data showed encouraging signs of wage growth, but said slack remained in the labor market and it was too early to say it was the beginning of an uptrend.
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That's why we'll just continue to be invested as long as the trend is higher, and when the day comes that the uptrend starts to break down, we'll start lowering our equity exposure appropriately.
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HAMBURG, May 31 (Reuters) - Aircraft markets are seeing slower growth this year but remain on a long-term uptrend as middle-class populations grow in Asia, Airbus sales chief John Leahy said on Tuesday.
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Strictly looking at past periods that closely resemble this one — quiet years in an uptrend, with plenty of new highs and good market breadth — the evidence points toward further gains in the second half.
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But a closer look into the data reveals that the lack of labor participation among younger, millennial men is "particularly acute," offset by an uptrend in participation among men aged 45-54 years old.
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While Apple's recent losses haven't brought the stock below the longer-term uptrend that began after the market's December 2018 fallout, Newton was watching one particular level in the stock for further warning signs.
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In this environment the long-term GMMA will remain well separated and that is a major resistance feature that limits any rally and makes it more difficult to establish a new long-term uptrend.
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"If you look at this move we've had over the last month, down about 15%, it places GM's stock right below that uptrend that has been in place since the December lows," Nathan said.
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"We've been in a perfect uptrend, and yet if I draw lines here, when we made the new high here, we did not make a relative high [to the S&P 500]," Worth said.
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Worth noted that while the XLK ETF is still trading above its 150-day moving average, relative to the S&P 500 the sector is now poised to break below a key uptrend level.
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It's definitely worth tracking, though the options watchers I trust say the VIX won't raise serious alarms unless it begins an uptrend and specifically unless/until it gets above about 15 (from near 13 now).
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"If we were to break that uptrend line … over here on the daily chart, there's no reason that we shouldn't be able to go down and retest this 2016 low at about $50," said Gordon.
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"Today and this week are going to be critical to answering the question, is this a market correction or is this a resumption of an uptrend?" said Walter Zimmerman, chief technical analyst at United-ICAP.
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Yet it was precariously perched on a narrow set of stocks: While only 212 percent from an all-time high then, fewer than 216.6 percent of S&P 215.9 stocks were in a technical uptrend.
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U.S. Treasury yields had been on an uptrend since Friday when Federal Reserve Chair Janet Yellen said gradual U.S. interest rate increases would be appropriate if the economy improves further and the labor market tightens.
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With that, Brent was on track for a weekly rise of 6 percent and WTI 3173 percent, continuing a broad uptrend that has added about $20 to a barrel from lows in January and February.
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"We are not overly concerned about the pullback we saw in the past two days, as we think gold's uptrend remains intact as long as the metal closes above $1,246," technical analysts at ScotiaMocatta wrote.
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"The euro is on a technical bounce but whether it can retain the uptrend depends on how the US-EU trade tensions pan out," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
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"We're not making a call on what's going to happen over the coming days, but in general the uptrend is still intact based on that rising 200-day," said Ari Wald, technical analyst at Oppenheimer.
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Some may point to a Relative Strength Indicator divergence, but closer examination shows the RSI divergence signal has been generated multiple times since 2009 and has not led to a collapse of the Nasdaq uptrend.
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"I believe a break above 24.1,22009 would attract buyers, of course; that's a new phase that would suggest a resumption of this longer term uptrend," van den Akker told CNBC's "Squawk Box Europe" on Tuesday.
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"We can see this equity market topping out at the same level it topped out at in 2000 and 2007, so still in secular decline, now breaking a seven-year uptrend as well," he said Tuesday.
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"I think the markets were spooked by Trump's immigration ban and there haven't been many positive news to push them back to the uptrend," said Randy Frederick, vice president of trading and derivatives at Charles Schwab.
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"A very strong jobs figure will trigger some short term pain for gold, however, the underlying uptrend should prevail in the medium term," MKS Group trader James Gardiner wrote in a note ahead of the report.
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Funds extended their Chicago wheat short position to 0083,385 futures and options contracts after two weeks on the uptrend, as the previous week's 107,892 contracts had been the least bearish view in two months (reut.rs/2r0XaB0).
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Investors now have proof that the gold price can stay above $1,200, which signals a new, sustainable uptrend that will be confirmed by increased separation in the long term GMMA as investors become more determined buyers.
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The company is in an uptrend before the opening of its first theme parks later this year in Dubai, but the stock now exceeds the 1.47-dirham median target price of three analysts surveyed by Reuters.
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Trading volume shrank slightly but remained healthy compared to this year's average, and fund managers characterised the selling of stocks as profit-taking rather than an reversal of the strong uptrend of the last few weeks.
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He defines a VIX "spike" as a reading that is 50 percent higher than its three-month low; he marks the S&P 500 in an uptrend when it trades above its 200-day moving average.
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Starting with the broad numbers, only a minority of stocks are in an uptrend, trading above their 211.4-day average, even as the broad indexes themselves have spent most of the past two months above theirs.
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The first, Costco, "has been in an uptrend no matter what time horizon you look at, going all the way back to 2.43," Frank Cappelleri, senior equity trader at Instinet, told CNBC's "Trading Nation " on Tuesday.
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"If we can't hold here and we break the uptrend, there's a possibility that the price could slide toward $13,21," Louise Yamada, managing director of Louise Yamada Technical Research Advisors, told CNBC's "Futures Now " on Tuesday.
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But the BOJ said in its statement that inflation is "likely to continue on an uptrend" on the back of an improvement in the output gap and a rise in medium- to long-term inflation expectations.
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"However, the upward pressure on prices stemming from the rise in firms' costs has been increasing steadily," it said, citing the uptrend in earnings for part-timers and higher input costs resulting from a weaker yen.
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It's unlikely that a slowing of India's demand would reverse the current uptrend, rather it would take a combination of factors, but the problem for gold is that some of these may be falling into place.
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Still, few expect the dollar's uptrend to end in the near term as the financial markets continue to price in the possibility of the Federal Reserve hiking interest rates more often in 2017 than initially anticipated.
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Strength in semiconductors and a whole host of other sleeper stocks is a telling sign that the market will not only make it to new highs but could remain in an uptrend, according to technical analysts.
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Economists expect capital expenditure to remain in a gradual uptrend backed by investment in robotics and labor-saving technologies to cope with a labor shortage as well as the need to upgrade aging plants and equipment.
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Analysts said the semiconductors uptrend was more pronounced for NAND memory chips - used for long-term data storage - as demand started to outpace supply during the quarter due to orders from Apple and Chinese smartphone makers.
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For investors worried that a rising rate cycle will put a snag in the equity bull run, Yamada has good news: Markets can still rise along with an uptrend in interest rates… up to a point.
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The found a strong bounce where it had to — preserving a 2½-year uptrend and allowing the steep October drop to be viewed, for now, as simply a swift correction in a slowing but abiding bull market.
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Bank of Canada Governor Stephen Poloz told a German newspaper that Canada's inflation should be well into an uptrend by the first half of 2018, adding that policy normalization must begin before price growth hits its target.
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Hong Kong will also release January foreign trade data on Thursday, which Moody's expects will show both exports and imports on the uptrend and trade deficit narrowing to $4.14 billion (HK32.2 billion) from $5.88 billion (HK45.7 billion).
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On a chart of the S&P-tracking ETF (SPY), Gordon points out that the market is currently on a third, uptrend wave, and a fourth wave would imply that the SPY is about to move down.
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"The stock hasn't been around all that long, but that 10-week moving average comes in right around that 50-day and it provides similar support within the context of a very strong impulsive uptrend," he said.
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The small-cap Russell 219 index has so far failed to regain its 2618 highs and strategists say it would be a positive reinforcement of the uptrend if the Russell could break out of its current range.
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The question for gold markets is whether any loss of demand in India will be enough to curtail the current uptrend, which has seen gold gain about 20% since the low of $1,159.96 an ounce on Aug.
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If we were to do an uptrend here from mid-2018, extend that trend line up, it is intersecting the price right on top of this dotted moving average, which is also the 200-period moving average.
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But mostly these stats — combined with the broad strength among most stocks and solid credit conditions — tell us the market is in a sturdy uptrend and the first setback won't likely be a serious, or lasting, downturn.
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"The stock recently pulled back 7% from its August peak into its recent October low [but] I think the more important point is that there was no damage to the uptrend done on that pullback," said Wald.
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U.S. 10-year note and 30-year bond yields, which move inversely to prices, have fallen in five of the last six sessions, reversing an uptrend that has been in place for the last couple of months.
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Prices have been volatile but analysts say they could now be starting on an uptrend again as consumption will rise during winter through to the Lunar New Year holiday in late January, when meat consumption traditionally peaks.
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Prices have been volatile but analysts say they could now be starting on an uptrend again as consumption will rise during winter through to the Lunar New Year holiday in late January, when meat consumption traditionally peaks.
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The yield has been on an uptrend after it had bottomed out at minus 0.53 percent in early September on relief that North Korea did not conduct military actions that would have provoked the White House further.
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Worth's charting revealed that despite those long-term gains, shares of the XLF have recently broken their uptrend around the $27 level and are down nearly 19 percent from their 52-week intraday high of $30.33 last January.
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To bet on a further drop for the Nasdaq 100, Gordon observes that an uptrend in the Nasdaq 100-tracking ETF (QQQ) from 2016 is almost broken, with the Nasdaq at one point diving below the supporting trend.
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Many analysts think the Saudi market's uptrend is not reversing but stocks may take an extended breather following a stellar performance over a six-week period which took the index to a one-year high earlier this week.
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Gold rose on Wednesday on bargain hunting, reversing course from a two-week low touched earlier, as investors latched on to the metal's overall uptrend on the back of a low interest rate environment globally and lingering uncertainties.
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Several analysts have said the dollar's uptrend remains intact next year, but they have not ruled out the risk of declines in the greenback, given their doubts surrounding how much dollar appreciation a Trump White House will tolerate.
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Hewson said he believed sterling remained in an uptrend that it began early last year, but that it could fall to as low as below $1.34 as investors book profits and political risk overshadows any positive economic developments.
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"We are seeing some profit-taking at these levels and unless there is a big correction, the broader uptrend in the Hong Kong market seems broadly intact," said Alex Wong, Hong Kong-based director of Ample Finance Group.
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It's been exactly three months since stocks peaked in a flourish of giddy momentum, and the market is now more volatile, less expensive and not quite as beloved, as the indexes struggle to maintain their long-term uptrend.
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According to Carter Worth of Cornerstone Macro, despite those drawdowns of 20 percent or more peak-to-trough, the stock was not only able to recover but was also able to stay within a clearly defined uptrend channel.
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"Those who have been following the dollar's uptrend since early November now sit on large profits, so it is not surprising if some lock the gains in," said Masafumi Yamamoto, chief FX strategist at Mizuho Securities in Tokyo.
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Since China's entry into the World Trade Organization in 2001, foreign money has poured into the fast-growing export powerhouse, keeping the yuan on an uninterrupted uptrend for more than a decade while inflating the country's forex reserves.
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If the broader tech sector starts to roll over and break below that longer-term relative uptrend, displayed above in orange, it "would signify a good likelihood that stock indices pull back to test recent lows," Newton wrote.
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If accurate, the latest forecasts would mark the end of a brief uptrend that started in 2019 after President Jair Bolsonaro took office vowing to reignite growth by pushing reforms aimed at trimming the size of the government.
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Investors will watch to see if Saudi Arabia's index, which fell 1.5 percent to 6,177 points on Wednesday, confirms a break below its mid-March low of 6,202 points, which would suggest the uptrend since mid-February had ended.
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"There's been a very long-term uptrend that's been intact since 1996, and the recent price action on the Shanghai Composite is now violating this," Craig Johnson, chief market technician at Piper Jaffray, said on "Trading Nation " on Thursday.
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"The (Greater Toronto Area) housing market is back on an uptrend following the B-20 adjustment phase, reflecting a build-up in pent-up demand," noted Sebastien Lavoie, chief economist at Laurentian Bank, referring to new mortgage qualification guidelines.
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" The S&P 500, which dropped nearly 1.5% last week, has only once posted a five-week losing streak since the current bull market began a decade ago, the strategist said, adding that the longer uptrend "is still good.
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"The dollar-yen uptrend remains intact, but the pace of the rise could be slower," said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo, who predicts the pair to trade in a 212-26.8985 range this week.
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The dollar is expected to remain in an uptrend against the yen, with the Fed on a monetary tightening path while the Bank of Japan remains committed to its ultra-loose monetary policy due to low growth and inflation.
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Additionally, the Russell 2000's performance relative to that of the S&P 500 is breaking below a long-term uptrend, which makes Sluymer think some of the market's leadership is beginning to shift and narrow to large caps.
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Overall flat performance broke a six-year uptrend, and the IPO market began to recalibrate via significant decreases in IPO issuance starting in the latter half of the year; prior to July, IPO issuance pace was similar to 2013.
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Projections for S&P 500 earnings per share, gross domestic product growth, and broad stock indices have taken the shape of letters from L to W. Exactly which letter an uptrend may look like depends on a few variables.
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"Before the stock reported it had some issues in 2018, but it was able to hold that uptrend line, and I think that showed that investors were giving it the benefit of the doubt before earnings came," said Cappelleri.
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The Saudi index rose 0.6 percent but falling trading volume indicated that after the bourse jumped earlier this month in response to the rebound of oil prices to near $40 a barrel, some investors believe the uptrend is ending.
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But most other Gulf bourses were sluggish as shrinking trading volumes indicated that after regional equities jumped earlier this month in response to the rebound of oil prices near $20163 a barrel, some investors believe the uptrend is ending.
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"Early-October 2018 saw Facebook, Amazon, Netflix and Google (FANG) break below a short-term uptrend after forming a head and shoulders top," said Stephen Suttmeier, chief equity technical strategist at Bank of America-Merrill Lynch, in a note on Wednesday.
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"In the overall sell-off going back to October, we broke the bull market uptrend dating back to 2016, but beneath the surface, there was probably some pretty damaging breakdown at the stock level," said Ari Wald, technical analyst at Oppenheimer.
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The uptrend is really occurring in emerging markets; Capital Economics, a consultancy, reckons that inflation in emerging markets hit a multi-year low of 3.3% last July but is now at 3.7% and is likely to average 4% in 2018.
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"Given the absence of an uptrend in core inflation, weak GDP growth and the growth risks firmly pointing to the downside, the ECB looks likely to announce an entire package of stimulus measures at the September meeting," Nordea analysts said.
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The dollar resumed its uptrend on Tuesday, helped by a surge in U.S. existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year.
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From a technical perspective Miller Tabak's Matt Maley says the stock is in an uptrend, while Strategic Wealth Partners' Mark Tepper believes international growth opportunities as well as a loyal customer base will push the stock higher in the long term.
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"For a sustained uptrend in the dollar you would need to see political certainty and a rise in rates," said Manuel Oliveri, FX strategist at Credit Agricole, predicting that the euro-dollar exchange rate would remain stuck in its recent range.
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" While another 3.5 percent of gains is not a wildly momentous move, Sluymer acknowledged, such a move higher would bring the index into an uptrend that's been in place since 2016, and "I think it starts to run into trouble there.
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According to Gordon, not only has Facebook been on an uptrend since the start of the year and broken through "resistance" at $103, that level has now become "support" and is now providing Facebook with a floor to move up.
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NEW YORK (Reuters) - Many bond investors who benefited from the recent rally in battered energy debt prices are maintaining or seeking to add to their holdings, viewing the rally as the start of a longer-lasting uptrend rather than a blip.
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"Whether the dollar can remain on an uptrend in the long-term is debatable, but for now a strong U.S. jobs report would provide further boost for the currency," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
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Against a basket of currencies, the greenback was 0.2 percent higher, having fallen to its lowest in almost four weeks on Wednesday - a severe correction from the uptrend that began in early September on hopes of a tax cut deal.
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I love the trend, but if we're to break down through uptrend support, I might kind of bail and take some profits in those positions, but watch that one while we're above support we could continue to go higher, we'll see.
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The Dow Theory predicts that the market is in an uptrend when both the Dow Industrials and Dow Transportation Average make a higher high either at the same time, or one after another – the opposite also holds to be true.
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TOKYO (Reuters) - Japanese shares are at an important make-or-break point and a decisive rise above current levels will usher in a long-term uptrend in the market, Katsunori Sago, chief investment officer at Japan Post Bank, said on Thursday.
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A clear break of that level will usher in a long-term market uptrend and a major shift of Japanese household assets to investment from savings — something the country has been trying to achieve for decades without any success — Sago said.
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"Back in May 2016, the SOX index first crosses above its 200-day moving average and then we have this long, long uptrend here and just last week we break below that level," Bilello told CNBC's "Trading Nation " on Thursday.
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"The kiwi has digested profit taking and risen, but whether it can maintain its medium-term uptrend will depend on how the dollar fares after Yellen's appearance at Jackson Hole," said Junichi Ishikawa, forex analyst at IG Securities in Tokyo.
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On the technical front, spot gold may retest a resistance at $1,439 per ounce and as long as the metal stays above the support at $1,387, it may resume its uptrend towards $1,497, according to Reuters technical analyst Wang Tao.
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JOHANNESBURG (Reuters) - Sub-Saharan Africa's economy will accelerate going into next year but could be derailed as the world moves onto an uncertain path that could bring an end to the recent synchronized uptrend, a Reuters poll showed on Monday.
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Not only has the stock held a one-year uptrend line despite its post-earnings gap lower, but implied volatility is low, meaning that a bet on a 1% move is much cheaper than it normally is for this stock.
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Gordon told CNBC's "Trading Nation" on Tuesday that "there's not much to dislike" about the chart of the credit card giant, referring specifically to what he describes as a "beautiful uptrend" for Visa that has been in place since February.
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It has been in an uptrend since mid-May; Dubai Group has said it will divest its 11.8 percent stake in EFG by the end of this year, and investors are hoping that a strategic shareholder could benefit the company.
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The index has been in a strong uptrend for the last several weeks as investors chase annual dividends and after data showed damage to the Qatari economy from a boycott imposed by other Arab states was less severe than feared.
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CFRA's chief investment strategist, Sam Stovall, on Thursday told clients the market is likely to continue its uptrend this year, leading him to increase his year-end price target for the to 2,23, implying a gain of more than 3 percent from here.
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First, each of these funds is deemed to be in an uptrend based on the fact that its 50-day moving average is above its 200-day moving average, which are popular indicators for gauging long-term and medium-term trends, respectively.
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The stock market has so far withstood its ongoing "gut check," with a three-day bounce after last Monday's mini-tariff-panic sell-off, preserving its longer-term uptrend and leaving the S&P 20.8 about 20113% from its recent record highs.
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IRS may therefore look like a better place to bet against the riyal, especially since Saudi money rates are in a strong uptrend as reduced flows of oil money into bank deposits and the government's bond issues to cover its deficit squeeze liquidity.
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The euro hit a its 21.7799 21.7381/2-year high of $1.1986 and last stood at $1.1970, maintaining its uptrend after European Central Bank chief Mario Draghi did not express concern about the currency's recent rise in his speech at Jackson Hole.
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In an interview with a German newspaper published on Tuesday, the central bank's governor, Stephen Poloz, said inflation in Canada should be well into an uptrend by the first half of 2018 and policy normalization must begin before price growth hits its target.
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Even though a precipitous drop in oil prices has brought consumer inflation to a halt and made the BOJ's 2 percent target more elusive, BOJ Governor Haruhiko Kuroda has stayed optimistic that a steady recovery is underpinning a broad uptrend in prices.
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"We think there's a difference between base-building and a new uptrend, and as long as you're below $1,380 resistance, and this range-bound trading continues, our message to clients is that the more attractive bet is on equities right here," he said.
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"The dollar could not find support from the data because it had been in a strong uptrend recently in anticipation of improving data and speculators are taking profit on those long dollar positions ahead of the Fed meeting next week," said Forex.
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"Many of the underlying commodities are in the uptrend at the moment and that would see continued support for the miners... Prices remain elevated and there could be further gains in the sector," said Michael McCarthy, chief market strategist at CMC Markets.
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The stock has fallen 3 percent from its high last week, but a recent gap back up in Nvidia stock leads Gordon to believe that the chipmaker has returned to the uptrend it had followed, paving the way for more highs ahead.
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"While the price uptrend momentum of these mineral products remains strong, possible price volatility related to China's EV sales performance due to government subsidies cuts may present good opportunities for repositioning those cobalt/lithium related stocks," Argonaut Securities said in a strategy paper.
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Similarly to the downtrend in place for yields that has yet to be broken, the 20+ Year Treasury Bond ETF (TLT) – despite selling off last week – is still above the uptrend that has been in place for most of the past year.
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"The technical uptrend is well established, there is continuing uncertainty over North Korea's nuclear ambitions and an imminent wrangle between Congress and the White House over the debt ceiling that must be solved by late September to avoid technical default," he said.
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Typically, when you get those spikes of 50% and the S&P 500 is still above its 200-day moving average, as is the case, when you get a spike in an uptrend, you tend to have above-average returns six months out.
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Having risen 56 percent last year to an all-time high in January, palladium, used in catalytic converters to control vehicle emissions, has fallen below technical support at its 55-day moving average and broken an 8-month uptrend, said analysts at Commerzbank.
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"There's been a secular uptrend in Chinese investment in Israel for the past eight to 10 years, but it has been accelerating," said Steven Schoenfeld, founder and CIO of BlueStar Indexes, a firm that develops Israel-focused indexes and exchange-traded funds.
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Because of low oil prices and poor liquidity, the Gulf greatly underperformed the uptrend in global emerging markets last year, so fund managers say it may be less prone to profit-taking and have less distance to fall on the way down.
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"Once you get that stock in an uptrend, then it&aposs looking for price and volume action coming out of proper consolidation — and hopefully, you&aposve got the earnings and you&aposve got the sales if it&aposs a growth company," he said.
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Investors expect to see the index clustering near the value of trend line B. This confirms that when the index retreats to the value of the trend line B, that it is a good buying opportunity for a continuation of the long-term uptrend.
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Despite being up more than 21 percent in the past two years, Nathan notes that the IWM's recent free fall through its uptrend line could be setting it up for a make-or-break moment as it approaches a key resistance level around $140.
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"The big question remains as to whether this is merely a pause in the context of a wider correction or whether we'll see a resumption of the uptrend that has been in place since the beginning of 2016," said CMC Markets analyst Michael Hewson.
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Just to detail the market's defensive emphasis in recent weeks, among the industry groups with the highest proportion of stocks in a confirmed uptrend, defined as having a 21999-day average price above its 200-day, are utilities, software, real estate and household products.
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We harp on this continuously, but as long as the major US indices remain inside of their long-term uptrend channels, and as long as US economic data isn't foretelling recession, there's no reason to try to 'fight the tape' and move out of equities.
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Still, for all the anxiety and confusion kicked up in this drawn-out correction, the market is simply back to levels first hit last Thanksgiving and is still clinging both to its long-term uptrend and —for now, barely — the benefit of the doubt.
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What's more, Worth also points out that the QQQ has been exhibiting what is called a "head and shoulders top," a pattern that technicians believe is bearish, along with an uptrend line which the ETF has bounced back to repeatedly over the past year.
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"Risk sentiment has taken a beating on the North Korea jitters and weak equity markets with the only exception being the euro, as the uptrend momentum seems to be behind the single currency," said Stephen Gallo, European Head of FX Strategy at BMO Financial Group in London.
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RIC=GHGDPAP Ghana poll data JOHANNESBURG, Oct 20213 (Reuters) - Sub-Saharan Africa's economy will accelerate going into next year but could be derailed as the world moves onto an uncertain path that could bring an end to the recent synchronised uptrend, a Reuters poll showed on Monday.
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If this stock repeats its pattern from 2016 to 2017 and from 2018 to 2019, those are two tests of that longer-term uptrend line and the rally off that line was in excess of 100% the first time, and then in 2018, we rallied 85%.
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"The credit quality, this move up in interest rates, this loss of a four-decade uptrend in bonds, downtrend in yields, that's the source of the volatility which I think far surpasses these amazing developments technology has come across in the last couple of decades," said Gordon.
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"Typically, equity rallies mature with a progression of trend deceleration, a subtle and then increasing amount of realized volatility with larger price swings within an intact uptrend...At this point, we do not even see trend deceleration," JPMorgan technical market strategist Jason Hunter wrote in a research note.
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These two developments are expected to have limited impact on Hong Kong's housing prices, UBS said, forecasting an uptrend in the next decade as increasing numbers from the mainland choose to live or invest in the financial hub with one of the world's most expensive real estate markets.
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"While the market remains in an uptrend, we are seeing some evidence from our technical indicators that the S&P 500 may need further time to consolidate before attempting to make a new all-time high," J.C. O'Hara, chief market technician at MKM Partners, said in a note.
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The uptrend is likely to continue over 2016.. A large part of the banks' rapid loan growth since the global financial crisis has been driven by traditionally safer residential mortgages in Singapore and short-term trade loans, where the counterparties are mainly the top five Chinese commercial banks and policy banks.
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"For Amazon, here's a stock that's probably the most tactical it's been in years, and we say this looking at the stock's weekly MACD [moving average convergence divergence indicator] inflecting positively from its most oversold condition since 2014 with a long-term uptrend that's still intact as well," said Wald.
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"You look at the front spreads for crude oil, and it's been the front-month contracts that have blown out, almost like this is a knee-jerk reaction to a headline versus a long-term structural uptrend that is still intact," said Brian LaRose, senior technical analyst at ICAP-TA.
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"We find a pronounced uptrend in integration within and among asset classes and countries over the period of the financial crisis and beyond and hence a substantial decline in our diversification indexes," John Cotter of University College Dublin, Stuart Gabriel of UCLA and Richard Roll of the California Institute of Technology write.
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"I don't think this is a market that is too long sterling, but there definitely has been an increase in the excitement level of late with sterling/dollar staying very close to a nice uptrend over the last several months," said W. Brad Bechtel, managing director, at Jefferies LLC in New York.
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"There's no doubt in our minds that [ECB President Mario] Draghi will try to jawbone the currency by expressing his discontent with its rapid rise, but that may not be enough to reverse the uptrend in the euro," BK Asset Management Managing Director of FX Strategy Kathy Lien wrote in a note.
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While the rally is probably due for a pause or some give-back fairly soon - in order to work off some overheating investor sentiment and stretched technical readings - the conditions across the capital markets suggest the current uptrend is sturdier and not as vulnerable to a harsh correction as it was a year ago.
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"While net employment growth depends on gross hiring as well as the pace of layoffs, and the trend in payrolls gains may have moderated a bit, major weakening in employment growth is invariably associated with an uptrend in claims," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in White Plains, New York.
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"The price weakness ... calls attention to some bearish news that the market had been willing to ignore, such as the high level of (fourth quarter) supply still in transit to consumers and the uptrend in U.S. drilling rigs and actual oil production," said Tim Evans, energy futures specialist at Citigroup, said in a note.
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"Gold stays under pressure in the short run as the market is repricing a little bit more Federal Reserve activity next year and the global economy is sparking an uptrend, earnings coming in well and the value for safe-haven assets like gold is diminishing," said Dominic Schnider at UBS Wealth Management in Hong Kong.
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In a related point, Willie Delwiche of Robert W. Baird, cites this chart showing the number of S&P 500 names making new 52-week highs has been riding in the 50-70 range lately, below the amount one might expect for an index nearing a high itself, if this move is the start of a longer, stronger uptrend.
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"I'm seeing the overall market being a little overbought, which gives me pause, but I don't want to fight this very strong uptrend that we've seen since the breakout that originated in August," Gordon said Thursday on CNBC's "Trading Nation," adding that the consumer staples ETF has been consolidating below the $62 level, which could signal a breakout.
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"Most members shared the view that, although the recent developments in CPI had been relatively weak, the year-on-year rate of change was likely to continue on an uptrend and increase toward 2 percent, mainly on the back of the improvement in the output gap and the rise in medium- to long-term inflation expectations," the minutes said.
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"There has been an uptrend of the areas of the slick during the last two years," Oscar Pineda-Garcia, an adjunct professor at Florida State University who also operates a company that charts oil spills, told the AP. The oil is so thick in some areas of the Gulf that people have had to wear respirator masks because the fumes are overwhelming, Pineda-Garcia added.
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"I predict the wider uptrend of the FTSE 100 will continue, and as we approach the end of 2020 we should have a better understanding of the post 'transition period' relationship with the EU, and that should help the British market," said David Madden, an analyst at CMC Markets UK. Writing by Thyagaraju Adinarayan, reporting by Danilo Masoni in Milan and Julien Ponthus in London; Additional polling by Mumal Rathore and Tushar Goenka in Bengaluru; Editing by Ross Finley and Catherine Evans
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"I predict the wider uptrend of the FTSE 100 will continue, and as we approach the end of 2020 we should have a better understanding of the post 'transition period' relationship with the EU, and that should help the British market," said David Madden, an analyst at CMC Markets UK. (Other stories from the Reuters global stock markets poll package:) (Writing by Thyagaraju Adinarayan, reporting by Danilo Masoni in Milan and Julien Ponthus in London; Additional polling by Mumal Rathore and Tushar Goenka in Bengaluru; Editing by Ross Finley and Catherine Evans)
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