By Dr. Declan Fallon

Brett Steenbarger discussed a bearish non-confirmation for the new high in the S&P (SPY) with respect to emerging markets (EEM).

By Dr. Declan Fallon

Robert Prechter of Elliot Wave International has gone bearish, bringing to an end his bullish February/March rally call. In the video he talks about a break of March lows - no chump change, so is this likely?

By Dr. Declan Fallon

There appears to be a template which can be applied to almost any ETF or stock chart; the rally-pause-rally has proven to be a common theme throughout the market place (other than inverse ETFs of course). The following two ETFs don't break this mold but they might have the legs to keep going as others start to fail.

By Dr. Declan Fallon

Bears and some bulls no doubt continue to stare in disbelief at the extent of this rally. But given a downleg will have to occur at some point in the near future what will bulls have to look out for to keep the buyer-train intact?

By Dr. Declan Fallon

In January of this year I posted a list of 5 UK stocks for 2009. How have they fared so far this year?

By Dr. Declan Fallon

Monday's drop of 2.9% in the S&P after the period of gains the market had enjoyed was a worrying turn of events for bulls. But do such falls during the usually quiet summer "vacation season" portend to something worse? I took a look at past occurrences where the market has fallen more than 2% in July to see what has followed.

A weakening dollar will keep commodity bugs aflutter, but what can it mean for commodity prices; gold and oil in particular? The chart below shows my June 22nd annotations for the EURUSD which are still in play. If the dollar was to weaken another 10% what impact will this have?

By Dr. Declan Fallon

From Bloomberg:

Novo Nordisk (NVO) added 3.3 percent to 279 kroner, rebounding from last week’s 5.3 percent drop. The European Association for the Study of Diabetes said its research into the cancer risk from a Sanofi-Aventis SA (SNY) diabetes drug didn’t include Novo Nordisk’s competing product, Levemir. Sanofi, which tumbled 16 percent last week, gained 0.5 percent to 41.05 euros.

By Dr. Declan Fallon

Since its May highs, the FTSE 250 (as measured by the ETF, MIDD) has been steadily working itself back to the former base between 555p and 697p (5,550 and 6,970 as per FTSE 250).

By Dr. Declan Fallon

Last week I took a look at historical performance of the S&P as it pertained to volume. Today I will look at the position of the S&P relative to the major moving averages (20-day, 50-day and 200-day MA). In a similar vein, Brett Steenbarger had a look at the past two days action and noted a bullish bias five days out.

By Dr. Declan Fallon

These picks are from a scan looking for stocks making new highs on heavier volume:

By Dr. Declan Fallon

A post by Babak at Trader's Narrative commented on an article by William Hester on recent market conditions. In it he concluded:

By Dr. Declan Fallon

There has been considerable action in the quartet of commodities and EURUSD prices the past couple of weeks. Each are shaping up for even bigger moves, but how will they do?

by Dr. Declan Fallon

Gold bugs have seen a steady improvement in the commodity pricing with the recent price cross of its 50-day MA and the subsequent cross of this moving average by the 20-day MA. However, the best form has emerged from some of the gold mining stocks. Here are three worth watching; two of which have YourCall information.

By Dr. Declan Fallon

A plan by Bank of Ireland to buy back bonds has seen its share price rise 27 per cent despite reporting a collapse in pretax profits to €7 million and lifting its expected three-year bad debt charge to €6 billion.

By Dr. Declan Fallon

The collapse of commodity prices through the latter part of 2008 looks to have stabilised in the first half of 2009. A number of bullish reversal patterns are emerging in commodity price charts which may make them attractive over the coming months.

"Wells Fargo projects record $3 billion 1Q profit" - or have investors forgotten about the $25 billion bailout the bank received? Not that it mattered; markets have taken this as a positive and pushed an early 3% gain. WFC gapped well over resistance and although down from its open is nicely positioned to challenge $21.45 resistance.


Ignoring the 66% of Nasdaq stocks trading above their 50-day MA, which suggests an intermediate top marking a 3-6 month high is imminent (bear market tops typically occur when 60% or more of stocks trade above this average), there is a nice play at work in the semiconductor ETF. The past 4 months of consolidation looks to be history and there should be good demand on any drop below $19.30. Next resistance around $21.10. I've made a whimsical call for a push to resistance with a stop below $19.30.

By Dr. Declan Fallon

In late January I took a look at the prospects for Gold and Silver. I had mentioned how resistance for GLD at $92 marked a convergence of declining and horizontal supply levels and had the potential to be a tough egg to crack. In the end, GLD found it relatively easy to break through without the need to consolidate, reaching an eventual high of $98.99.

By Dr. Declan Fallon

Last Wednesday I commented on the mounting pressure against $1.29 resistance which suggested a potential break was coming. The trigger for the break was the Fed decision to buy back its debt.

By Dr. Declan Fallon

2009 has not been kind to the EURUSD pair but the last week has seen some more positive action, particularly the push above $1.2900. The currency pair currently trades at $1.3032.