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The S&P 500 is in its most perilous position since late last summer, cautioned David Keller, the chief market strategist at StockCharts.com. After an uptick in volatility in March 2023, the S&P 500 enjoyed a virtually uninterrupted rally before peaking on the final day of July. Related storiesIn the meantime, investors should keep a close eye on two key technical support levels for the S&P 500, Keller said: 5,050 and 4,820. Utilities are one of only two parts of the market that's up in the last month, due to its risk-off nature. The VanEck Gold Miners ETF (GDX) is another compelling way to ride that rally, Keller said.
Persons: , David Keller, I'm, Keller, Stocks, StockCharts.com, they're, Keller isn't, that's Organizations: Service, Business, Utilities, StockCharts.com, VanEck Oil Services, P Oil & Gas Exploration, Production, Miners Locations: East, Israel, Freeport
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the chartmaster is switching from the insurers to the big banksCarter Worth, Worth Charting, joins the 'Fast Money' traders to discuss why he's switching from insurers to big banks.
Locations: Carter Worth
Wall Street was mostly upbeat about equities heading into 2023, though even the most bullish investment firms thought the S&P 500 would finish this year at 5,100 — a level it has exceeded already. Resisting this rally is a fool's errand, according to David Keller, the chief market strategist at StockCharts.com. The long-time chartmaster warned of a near-term pullback as the S&P 500 approached its previous record high but has since abandoned his cautious call. AdvertisementFast-forward to early March, and many of those mega-cap growth names remain hot, especially Nvidia and Meta. "I like that idea, at this point, of diversifying away from mega-cap growth," Keller said.
Persons: , David Keller, chartmaster, Keller, I'm, they've, StockCharts.com Organizations: Service, Business, Nasdaq, Nvidia, Meta, Microsoft, Apple, Companies, Hilton, Marriott, Restaurant Brands, Burger King ., Biotechnology Locations: Burger
Just over two months ago, the S&P 500 was at a breaking point. After Keller's call, the S&P 500 rose nearly 6% in six weeks. The S&P 500 was stuck in purgatory for weeks, barely budging from the 4,769 level at which it entered 2024. David Keller, StockCharts.comExpect the S&P 500 to heat up heading into the summerDespite stocks' shaky near-term prospects, Keller believes their medium-term outlook is rosy. In all likelihood, Keller said the S&P 500 will regain momentum after a near-term hiccup and push toward the 5,000 milestone in April, May, or June.
Persons: David Keller, naysayers, Keller, it'll, StockCharts.com, that's Organizations: Business, Nvidia, Devices, AMD, VanEck Semiconductor Locations: StockCharts.com
"It depends a lot on interest rates, and if they can remain where they're at, I think that's certainly a possibility," Keller said in a recent interview with Insider. Speaking of spot-on, Keller predicted in mid-September that the S&P 500 would fall to 4,100 if it broke below 4,350. "And a lot of S&P stocks are still down on the year, but that seems like it's starting to change." Its relative performance is also lacking , as the S&P 500 is up 17.3% in that span. Below are charts from Keller showing the strong technical setups of the S&P 500 and the four investments that he's especially bullish on now.
Persons: David Keller, Keller, it's, what's, Rowe Price, Russell, that's, Keller isn't, I'm, Don't, we're, he's Organizations: Business
Chartmaster says insurance stocks primed for breakout
  + stars: | 2023-10-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChartmaster says insurance stocks primed for breakoutCarter Worth, Worth Charting, joins ‘Fast Money’ traders to discuss the next step in insurance stocks.
Persons: Carter Worth
Stocks have slipped in September as interest rates, bond yields, and oil prices increase. The Federal Reserve plans to keep interest rates high to stop persistent inflation. Here are 22 stocks that Goldman Sachs believes are well-positioned to benefit from elevated rates. There are several serious threats to US stocks right now, including high interest rates, as well as rising bond yields and oil prices. Each was addressed in a September 22 note from David Kostin, the chief US equity strategist at Goldman Sachs.
Persons: Goldman Sachs, David Keller, David Kostin Organizations: Federal Reserve
A bearish head-and-shoulders pattern has formed in the S&P 500, Keller said in a recent interview with Insider. The S&P 500 is in a head-and-shoulders pattern and could soon fall to around 4,100. His early August warning that stocks will slide was correct, though the S&P 500 didn't give up as much of its summer rally as the chart guru predicted. Outside of technology, Keller likes stocks in the utilities and energy sectors — specifically those in the oilfield services industry. The recent rebound of utilities, a defensive stalwart, is another signal that more market downside is likely ahead, Keller said.
Persons: chartmaster David Keller, Keller, StockCharts.com, we've, David Keller, Keller's, he's, it's, Keller didn't Organizations: Labor, Nvidia, Utilities, Energy, VanEck Oil Services
Late last summer, veteran technical strategist and hedge fund manager David Lundgren urged his clients to bet against US stocks. "That pile of wood is just sitting there waiting for a catalyst, and I think it's coming," Lundgren said. "It's not our job to agree with the market's assessment of the fundamentals," Lundgren said. 5 sectors with strong momentum right nowMany investors remain concerned about a possible recession, but Lundgren has learned to lean on market trends instead of his gut. Coincidentally — or not — 11 of the names were in one of the five sectors that Lundgren highlighted.
Persons: David Lundgren, who's, we're, Lundgren, isn't, MOTR, I'm, there's, Guess what's, Industrials, Organizations: MOTR Capital Management & Research, Dow Jones Market, MOTR Capital Management, Research, Investors, Bank Locations: cyclicals
US stocks have defied all odds this year, and the market rally only strengthened in July. After two months of nearly nonstop gains for the S&P 500, a long-time chartmaster warns that the weakness that markets displayed in early August is just the beginning. As expected, the S&P 500 rallied after October when that headwind passed, and finished 2022 with a bang. Charts that Keller studies also indicate that this market rally has reached its late innings. Exchange-traded funds (ETFs) tracking those sectors include the Energy Select Sector SPDR Fund (XLE), the Financial Select Sector SPDR Fund (XLF), the Industrial Select Sector SPDR Fund (XLI), and the Materials Select Sector SPDR Fund (XLB).
Persons: David Keller, Keller, chartmaster, Stocks, headwind, Brace, we've, StockCharts.com, Keller doesn't Organizations: Energy, P Oil & Gas Exploration, Production, Commodities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe chartmaster carter worth sees upside for emerging marketsCarter Worth, Worth Charting, joins 'Fast Money' to discuss overseas emerging markets with CNBC's Melissa Lee and the Fast Money traders.
Persons: carter, Melissa Lee Organizations: Fast Money Locations: Carter Worth
The Chartmaster Carter Worth sticks to REITs
  + stars: | 2023-07-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Chartmaster Carter Worth sticks to REITsCarter Worth, Worth Charting, talks the office space rebound and why he is sticking with REITs.
Persons: Carter Worth, REITs Carter Locations: REITs Carter Worth
If the S&P 500 can avoid a pullback, it could make a push toward its all-time high. Investors who weren't ready for the remarkable stock market rally of the last three months may not have completely missed out yet, according to several strategists Insider recently spoke with. While some top investing minds think this market rally isn't trustworthy, others are confident that the path of least resistance for US stocks is higher. He believes the S&P 500 is more likely to hit new highs in early 2024 than retest its Fall low of about 3,500. The S&P 500 is trading at roughly 19.2x forward earnings, he said, adding that equal-weighted funds have a forward earning ratio of about 15.5x.
Persons: Brad Bernstein, we've, I've, Bernstein, Jason Draho, Bernstein's, Draho, Jack Caffrey, Caffrey, Michael Sheldon, chartmaster David Keller, Keller, who's, David Keller, StockCharts.com, Brian Belski, Sheldon, Belski, that's Organizations: Federal Reserve, UBS Wealth Management, UBS Global Wealth Management, JPMorgan Asset Management, Fed, RDM Financial, BMO Capital Markets, BMO Capital Locations: US
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Chartmaster Carter Worth says it's time to trim Tesla after his bullish May 31st callCarter Worth, Worth Charting, discusses fading the Tesla rally with CNBC's Melissa Lee and the Fast Money traders.
Persons: Carter Worth, Melissa Lee Organizations: Fast Money
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChartmaster: The read now on Nvidia and what it means for the broader marketCarter Worth, Worth Charting, discusses Nvidia as the stock surged this week with CNBC's Melissa Lee and the Fast Money traders.
Persons: Carter, CNBC's Melissa Lee Organizations: Nvidia, Fast Money Locations: Carter Worth
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHedging into Apple earnings might be your best move, according to Chartmaster Carter WorthCarter Worth, Worth Charting, on how to play Apple with CNBC's Melissa Lee and the Fast Money traders.
Chartmaster David Keller shared the three biggest risks facing the market right now. The S&P 500 may struggle to break past technical resistance of 4,200 and 4,300. He predicted that if the VIX rises to 20, the S&P 500 would fall to a vital support level of 3,800. The percentage of S&P 500 stocks trading above their 50-day moving average (in green) has fallen below 50% recently. David Keller, StockCharts.comPoor market breadth should be a serious concern for investors, Keller said.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla tumble could get worse, says the Chartmaster Carter WorthCarter Worth, Worth Charting, on Tesla's shares with CNBC's Melissa Lee and the Fast Money traders.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhere the S&P could be headed into earnings season, according to the ChartmasterCarter Worth, Worth Charting, on market outlook with CNBC's Sara Eisen and the Fast Money traders.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChartmaster says industrials-sized breakdown coming for groupCarter Worth, Worth Charting, on industrials with CNBC's Melissa Lee and the Fast Money traders.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Chartmaster sees good odds for a strong April marketCarter Worth, Worth Charting, on the odds of the charts pointing toward a positive April with CNBC's Tyler Mathisen and the Fast Money traders.
The Chartmaster sees more rough times ahead for Apple
  + stars: | 2023-03-24 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Chartmaster sees more rough times ahead for AppleCarter Worth of Worth Charting on where Apple's going from here. With CNBC's Melissa Lee and the Fast Money traders, Steve Grasso, Courtney Garcia, Tim Seymour and Guy Adami.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChartmaster on what's next for markets after a volatile weekCarter Worth of Worth Charting looks at key levels to watch in the market now. With CNBC's Melissa Lee and the Fast Money traders, Steve Grasso, Jeff Mills and Dan Nathan.
Bet on gold here, says Chartmaster Carter Worth
  + stars: | 2023-03-13 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBet on gold here, says Chartmaster Carter WorthCarter Worth of Worth Charting says it's time to bet on gold. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Karen Finerman and Steve Grasso.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Chartmaster's bearish-to-bullish reversal buys: DocuSign, Block & SoFiCarter Worth of Worth Charting on the stocks seeing bearish to bullish reversals. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Bonawyn Eison and Steve Grasso.
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