See the rotation of Stockcharts today

admin2 hours ago

Main takeout

The S & P 500 has a small new height while the mega cap technology is cooled. Check the market summary and market carpets to check the rotation.
The XHB cleaned the 200 -day moving average and the precious metals rose.
If you use Googl, TSLA and IBM, keep your patience and guide the chart decision if you are due to decks and housing data.

The stock market feels like you’re breathing ahead of its large -scale technology profit. Most of the first two days of the trading week were quiet, but on Tuesday, we gave us some nuggets that were worth chewing.

that S & P 500 ($ SPX) has closed other records with a humble +0.06%. It is barely idiot, but it remains on the rise.

Technology exercise has been slightly slow, but we haven’t seen the wave of sales. It was similar to gaining some benefits after a strong run. There is no reason to press the panic button yet.

StockCharts Tips: Head to Market summary At a glance at the page Market factor panel. On Tuesday, large -scale growth and large exercise were the only factors of red (see the image below).

Figure. Here you can see the daily performance indicators of the factor. You can change the period using the drop -down menu at the top of the page.

at US sector Panel on the Market Summary Page, technology The Lone S & P 500 sector is finished lower. Tuesday behavior can be found on the Stockcharts MarketCarpet of S & P 500 based on the one -day performance.

Figure 2. Marketcarpet of S & P 500. The technology sector gained some popularity on Tuesday, but other sectors benefited.

Big name- nvidia (NVDA), Microsoft Corp. (MSFT), Amazon.com (AMZN), Meta platform (Meta) and Broadcom (AVGO) -Bone all at Laggard Camp. The pause of this technical stock occurs just before the wave of large -scale technical income.

Some of the large companies reporting this week’s income Alphabet, Inc. (Googl), Tesla, Inc. (TSLA) and International business machine (IBM). All three reports were reported on Wednesday after the deadline. S & P 500 and S & P 500 and Nasdaq composite ($ Compq) can catch the tail wind. (Funny fact: Both stocks have been closed higher Tuesday.)

Despite the technical traces of Tuesday, the level of support is maintained. The NASDAQ composite is more comfortable than the 20 -day exponential (EMA) and is improving (see the chart below).

Figure 3. Daily chart of NASDAQ composite ash. The index is higher than the index moving average of the 20 -day index and the market width is improving.

The small cap is still in the game

We are also seeing small stocks rising. If a small cap participates in the market’s rise, it is a healthy stock market. Health care stocks represent a large portion of small indexes.

Another area of stealing the spotlight was a housing constructor. that SPDR S & P homebuilders ETF (XHB) has surpassed the 200 -day simplicity (SMA), a positive signal of the industry group that is struggling (see the chart below). The relative strength index (RSI) indicates that the momentum is relatively strong.

Figure 4. SPDR S & P homebuilders ETF (XHB). The ETF exceeds the 200 -day simple moving average and the momentum is relatively strong. XHB was spy last year.

Last year, XHB was delayed SPDR S & P 500 ETF (Spy) About 18%. Powerful income Dr Horton, Inc. (DHI) and PULTEGROUP, Inc. However, (PHM) was welcomed to the group as a soft housing background. You can get existing housing sales data on Wednesday on Wednesday. Stronger reports can add fuel to XHB’s rally.

StockCharts Tips: The above XHB chart is part of Market Summary Chart PackFree for STOCKCHARTS subscribers. There is a list of charts that can be used for several days when installed.

It is also worth a glimpse Dow Jones Housing Construction Index, USA ($ djushb) Dow industry List (in the market summary, check the US industrial panel and press the Dow Industries tab).

Gold and silver are higher

Precious metal prices rose while the technology was cooled and the housing building was heated. Gold ($ Gold) rose 0.92% and silver (silver) was 0.94%. Gold is the highest level ever, and Eun has returned to the level he has not seen since 2011.

Big Picture: Still a healthy market environment

None of Tuesday’s behavior does not implant cracks in market growth stories. We are thick and always bringing uncertainty and volatility. In light of the weak dollar, expectations for big technology are high. Maintain patience, see the price behavior, and the chart guides the next movement.

disclaimer: This blog is used only for educational purposes and should not be interpreted as fiscal advice. You should not use ideas and strategies without evaluating your personal and financial situations first or consulting financial experts.

Author Information:

Jayanthi has been the technical analysis editor of stocks and product magazines for more than 15 years. In Stockcharts, she tries to find ways to educate investors, approach and intuitive technical analysis. Learn more