Not much new to add...

I'm still seeing some great charts in the Energy, Tech, Solar, Steel & Iron, Coal, Biotech, and Retail sectors.

Check out the chart for CWEI. Can you say "Super-Trender"?

Here are a couple of outstanding charts in recent IPO's - SMS and BEAT.

I'm also seeing some of those super-powerful small oil and gas stocks setting up again. They are not quite in my brand new Pyramid Pattern, but still dynamic nonetheless. I'll name one below for my premium Baffle / RSVP / ARM Play Members.

More nice charts in newer sectors...

It was another nice day in the market today. Although the indexes ended nowhere near their intraday highs, still not too shabby.

I read recently that the price of crude oil usually peaks around Memorial Day. That's holding true so far, with the price then around $135 a barrel, and back below $130 today. So I would expect to see some short-term profit-taking in the Energy sector. Having said that, the charts of GST and TGC in the small oils are beautiful.

And today we had a few Utilities, Software and For-Profit Education companies with extremely nice charts, and more in the Retail sector too. So we're seeing more and more sectors taking part in this new bull market.

Like I said... it was BUTT time today!

I'm a "kid in a candy store" again today.

Tons of great charts are to be had, as I thought might happen today with yesterday's positive market action. So it was BUTT time for sure today! (Back Up The Truck - and buy).

And what's especially bullish about today's action is that these beautiful charts are across lots of sectors. Sure, you have great reversals showing in previously strong sectors, such as the Shippers, the Solars, the Oil & Gasses, the Ag Chemicals, the Coals, the Metals, etc.

But you also had some beauties in the Retail, Semiconductor, Air Freight & Delivery, Gaming, Meat Products, and the Biotech sectors.

Add in a late-day rally and all in all, you have a good day!

I like today's market action. Here's why...

The two major indexes - the DJIA and the Nasdaq - are showing very bullish charts in my opinion.

The DJIA was up almost 69 points, but the Tech-laden Nas stole the show today with a tidy 36.57 point gain, or 1.5%.

Using candlestick analysis, the Dow's chart is a nice Bullish Harami, with stochastics the most oversold in months, and curling back up. The Nas chart is even more bullish, showing a solid Morning Star pattern, with the stochastics already screaming skyward from tremendously oversold areas.

So the odds favor BUTTing at this time. (Back Up The Truck and buy!)

Friday gave us tons of rebound plays...

First of all - to all my fellow Americans - Happy Memorial Day! Please remember to fly your U.S. flag high today, or at least to say a silent prayer of thanks for the valiant men and women in uniform who have made such serious sacrifices to make our country great.

I have a long list of great-looking ARM (Awesome Rising Method) setups formed on Friday.

Last Thursday was a selloff day, so the odds were very good of that happening with any kind of rebound action on Friday. And we got it.

The main sectors showing the most promising setups are the small oil and gas companies, along with the solars.

With these great-looking charts, maybe it's not quite time yet to "sell in May and go away!"

Has "Sell in May and go away" started?

It may seem that way, judging by the last two days of market action.

And with the continued skyrocketing price of crude oil, mixed with Fed comments of "no more interest rate cuts", the bulls were in full retreat today, with the DJIA down a hefty 227.49 points and the Nasdaq down 43.99. Amazingly, each index was down exactly 1.77% according to BigCharts.com. Haven't seen THAT in quite some time!

Today's move destroyed the nice upward trends in the indexes, so we could be heading back into choppy waters.

Sell in May and go away? Perhaps, but let's see what the rest of the month looks like first. And we still have inflationary plays like Energy and Gold to consider, as well as the Shipping stocks.

I thought this might happen...

The market was getting a little too hot, and needed to be cooled off a tad. That happened today.

The pundits came out with their rationale behind why the market tumbled today, of course. The consensus of opinion seemed to be centered around crude oil pressing the $130 area, inflaming new inflationary fears, and the Fed coming out with statements hinting they might be done with interest rate cuts for awhile.

In my opinion, I think the market just needed a break. It's as simple as that.

There are still tons of great charts in the Energy sector, so that's one game you can keep playing. Check out the doozy I'm naming below. It was recently voted the fastest growing oil and gas company by the Oil and Gas Financial Journal. Not one in a thousand traders have even heard of it. But with its near 17% move today, it will be on scads of stock scan screens tomorrow. It could skyrocket in price, like some of its Amex-traded brethren such as MXC, up a mere 865% in just the last month.

More of the same... this sector's still the hottest of the market...

It was a mixed day in the market, with the larger caps holding up better than their smaller brothers. Today reminded me of one day last week when the market looked strong all day until the last hour or two of trading, when it just fell off a cliff.

I'm still seeing lots of great charts, with nice trends in place. But I'm also starting to see some very overextended charts, and those could have some serious downdrafts if traders get spooked for any reasons in this market.

The hottest sector continues to be the Energy industry, especially the smaller oil and gas plays. Some of those are still going utterly ballistic. For example, MXC was up yet another huge amount today - closing at $27.90, with a tidy 42% gain for the day. This was a $5 stock in late April.

I guess those ivory-tower stock market "theorists" who maintain it's ridiculous to assume you can make more than 7-12% a year in the stock market are not familiar with stocks like MXC, PDO, FPP, CDY and many others.

Are you catching this stock market sector acting like the Internet stocks of the late 1990's? They are exploding, especially last week...

There is a small sector of stocks in the market reminding me of the great Internet Stock Boom (and later - Bubble) of the late 1990's.

These stocks are just absolutely going ballistic! We're talking 200-300% gains and more... just since April. And last week, they went crazy.

One stock in the sector exploded almost 35% on Friday. Another one popped almost 39% on Friday. But I can top those.

The strongest of the group (at least so far) rocketed almost 67% - just last Thursday!

Folks, when you see a phenomenon like this happening, you need to take a few minutes and analyze what's going on, and what's causing this type of abnormal (and extreme portfolio-enhancing) action.

But if you don't do that, you can do something even easier...

Simply analyze the chart action preceding the big moves, and scan the market for similar setups. That's what I did with the stocks I mentioned above.

And I found some similarities of all three stocks.

It starts out as a Baffle Play. Then you have a Wave 1 upmove, a pullback, Wave 2, another pullback, and then it's Wave 3 that takes these stocks into the stratosphere.

So I then analyzed this sector for other stocks showing similar characteristics as these monster movers -- right before they went ballistic in price. I have a small list of stocks -- and I believe one or more of the stocks on this list are going to go ballistic in price next week.

I'm going to name my favorite from the list for my B/R/A Members below.

I don't think I've ever seen so many charts with such large-bodied, one-day candles...

I totally thought we'd see a pullback in the market today, or at least a dull market - based on the selling action that sent most indexes off a cliff late yesterday afternoon.

But I was wrong. Dead wrong.

In fact, I don't remember seeing so many charts with so many one-day big candle spikes - with most of the stocks ending at or near the high of the day!

In times like these, it's extremely difficult to pick out the "best" chart setups of the day.

But all things considered, that's a good problem to have.

Well, as one of our chat room members exclaimed late in the day: "It was stairs up and elevator down!"...

That statement described the action of the stock market today. Everything looked fantastic for most of the day, with the DJIA up triple digits and the Nas up healthily too.

That came to an abrupt end starting around 2:00 PM EST.

Both indexes basically fell off a cliff. While both ended up in the green - especially the DJIA with a still respectable 66 points - they were well off the highs of the day.

What caused the drastic selloff? Looks like just good ole-fashioned profit taking to me. After all, the market has been on a tear since bottoming out in late March, and is well overdue for at least a breather for a few days. I'm now seeing tons of very overextended charts. That action just can't last forever.

So is this afternoon's action the beginning of "Sell in May and go away"? Well, only time will tell, but I honestly don't think so this year. Markets usually run into presidential elections and thereafter, and then tend to back off after the "honeymoon" period is over.

We'll see.

A mixed day in the market, but you wouldn't know it from all the great charts still out there...

The major stock market indexes can sometimes give a cloudy picture of the underlying strength of certain market sectors. Take today for example. The DJIA actually ended in the red, down over 44 points (although well off the low of the day), and the Nasdaq ended in the green, to the tune of 6.63, closing near the high of the day.

So you probably wouldn't expect to see many great charts out there, right? Wrong, Moose Breath! In fact, I'm amazed at the quality and quantity of excellent charts still out there. Each day it seems more and more sectors are participating as well. For example, some Homebuilders popped again today, along with small Biotechs, Retail, Water Stocks, Tech, Credit Services, and the usual Energy, Coal and Metal sectors.

Looking back now with 20/20 hindsight, what's also amazing is the size of gains made on some stocks since what appears to be the market bottom of this down cycle back in late March. Chart after chart shows stocks up 50% and more, with lots of doubles along the way. In just a few weeks.

Gotta know when to BUTT! (Back Up The Truck and buy) This was one of those times. While the rest of the world was caught up in the "old news" of subprime mortgage meltdowns, massive foreclosures, rampant inflation, and banks refusing to do their job of lending money, you could have instead paid attention to what the market was actually DOING, and made a small fortune in several weeks.

And that is exactly what I teach here at Trade Your Way To Wealth. Watch what everyone else is doing, and do the opposite (when it makes sense).

A great start to the week, and once again - I see lots of superb charts...

The stock market started out the week on a high note, with the DJIA popping over 130 points, and the Nasdaq almost 43. Both indexes closed near the high of the day.

And there are some GREAT charts out there. The once white-hot Shippers are heating up again big time, and I'm seeing more and more sectors with beautiful charts - that's extremely bullish. The Energy sector still has some superb charts, even with the price of crude backing off today. But Biotech, Tech, Software, Nanotech and others are showing some excellent charts we've not seen from those sectors in some time.

The tone of the market has definitely changed. Whereas just a few weeks ago you'd be extremely lucky to get more than a day or two of up-move, nowadays you're seeing some multi-day trends, up to 7 - 8 days in a row and more in some cases! Now's the time to be thinking about BUTTing! (Backing Up The Truck and buying).

Surf's Up!

Well, we had a couple of lousy days this week, but there are still lots of great charts out there...

The stock market ended the week on a down note, with most of the major indexes in negative territory for the week.

Great charts are still out there in abundance though. They're mainly in the Energy sector, but a few nice-looking ones appeared in the Retail and the rebounding Gold sectors this week. Most of the Semiconductors still look decent as well. Finally, the Solar stocks "got hot" again.

It was back to the upside for the market today, and - as usual - these charts as a group were "throw a dart and hit a winner" again...

The stock market bounced back today after the "rinse job" yesterday, with the DJIA recovering over 52 points and the Nasdaq improving almost 13.

The "dart-throwing" energy sector continues to show the finest charts, along with the steels, but golds and retail rejoined the party today as well.

Well, we need an occasional "rinse" day to keep everyone "clean" I guess.

Well, maybe the market just doesn't like $123 a barrel oil...

The stock market nosedived today, with the DJIA down 206.48 points and the Nasdaq plummeting 44.82.

The reason brought forth from most pundits was the market finally succumbed to the rapidly escalating price of crude oil - now at $123 a barrel and up 10% just in the past four days of trading. It finally seems to be sinking in that the rapid rise of oil may damage the economy! Hmmm - didn't seem to matter much lately.

I think basically the market just needed a rest. I'm seeing dozens of charts now very extended, and some of the recent exuberance had to be taken down a few notches.

You could have thrown a dart at a list of stocks in either one of these two sectors today and probably would have come up with a big winner...

I'll keep it short and sweet again tonight since it's getting late.

The two "dart-throwing" sectors today were the Energy and Solar sectors.

Why the Energy sector?

The skyrocketing price of crude oil is causing windfall profits for these companies.

Why the Solar sector?

The skyrocketing price of crude oil is causing possible future windfall profits for these companies as we are forced into looking into Alternative Energy.

Just tons of beautiful charts in those two sectors.

Wow! There are only three words you need to know today...

I'll keep it short and sweet tonight since it's getting late.

Here are the three words of advice I have for you tonight...

"Buy Coal Stocks."

Why? Because they sported some of the best charts of the market today.

Here are some of the tickers in that sector: JRCC, WLT, CNX, PCX, ANR to name a few.

All in all, it was a pretty good week...

Once again, the stock market popped on the open. But as opposed to Thursday's action, it was basically all downhill from there.

The market was initially thrilled with the jobs report today, and scampered to an early gain of 120 points. But the "Friday Syndrome" - where traders do not choose to hold positions over the weekend - hit the market and caused it to sell off. The DJIA sitll ended the day with a respectable 48+ point gain, but the Nas ended in the red a little.

Hurting the heavily tech-laden Nasdaq was the cratering action of Sun Microsystems (JAVA). It plunged almost 23% on a horrendous earnings report.

But at the end of the day (and of the week), the markets look healthy here, with a 1% gain in some of the major indexes, and positive index charts throughout.

One of the recent strong sectors "reigniting" Friday was the Coal sector, led by JRCC, up over 11%. Look for follow-up gains in that sector next week. Also, one of my favorite stocks in the market right now - FEED - rebounded a tidy 21.33% today, closing near the high of the day. Very bullish action.

After sleeping on the Fed rate cut, the stock market decided it was a good thing...

The stock market popped on the open today, and it was basically all uphill from there.

The DJIA didn't waste any time crossing back over that "magical" 13,000 area, closing at 13,010 and up 190 points for the day. But the Nasdaq blew away the Dow percentage-wise with an incredible 68 point gain, or 2.8%. Very nice!

As I keep saying here, we may be seeing some rotation out of the former leaders of the market and into new areas such as Semiconductors, Software, Credit Services and even in the recently much-maligned Financial area. And some of the "old names" of the last bull market uptrend are reasserting leadership, such as GOOG, BIDU, SOHU, RIMM and AAPL.

Houston, we have a new bull market. All aboard!

Well, everything looked pretty good until around 2:00 PM EST...

The stock market was strong all day, until around 2:00 PM EST.

As expected, the Fed cut interest rates a quarter of a point. That part was no surprise, but - as usual - the market participants attempted to interpret the Fed chief's remarks about what their posture is going to be in the future.

That part ended up very much in the air.

Confused traders don't tend to be bullish, and they decided to cash in some chips around 2:00 PM EST, and most of the major indexes ended the day in the red. The DJIA popped back above that "magic" 13,000 area for a few minutes, but could not hold the gain. A close back above that milestone would be a major positive for the market, in my opinion.

Stocks based in Brazil soared today as Standard & Poor’s raised the country’s long-term credit rating to investment grade, an important acknowledgement of Brazil’s economic progress. GFA is an especially attractive chart in that area.