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Best of StockTwits Charts: New Highs Fail to Confirm the S&P 500′s Breakout

The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:

1. NYSE New Highs – Mark Arbeter, Chief Technical Strategist at S&P Capital IQ, posted the following chart to StockTwits showing that the price breakout in the S&P 500 ETF (SPY) has not yet been confirmed by the percentage of stocks hitting new highs. In order for this metric to confirm the trend, the number of stocks hitting new highs will need to top the May high. Something to keep an eye out for next week.


(See Mark Arbeter’s original StockTwits post here.)

2.  S&P 500 ETF (SPY) vs. iShares Barclays 20+ Year Treas Bond ETF (TLT) – Todd Elias posted this next chart showing the wide divergence between the S&P 500 ETF, plotted in green, and the iShares 20+ Year Treasury Bond ETF, plotted in red. Since 2010 there have been four divergences which resulted in significant pullbacks in the market and this one is the widest of the bunch. Larger divergences may lead to largerer market pullbacks. Some traders will short SPY while taking a long position in TLT once (and if) both ETF’s begin to converge.


(See Todd Elias’ original StockTwits post here.)

3. Citigroup (NYSE:C) – On StockTwits, @traderstewie posted this last chart which shows that Citigroup is set to breakout above its resistance level just above $53. A close above $53.28 would mark a three year closing high and a hold above that level would garner attention from momentum traders.


(See @traderstewie’s original StockTwits post here.)

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