There she goes!

Apple just went out at new all-time highs relative to the S&P500.

I think about it like this: Should we expect Tech stocks to underperform if the biggest one of them all is making new all-time relative highs? [Read more…]

New Bull Market or just a Bear Market Rally?

That’s the question I keep seeing.

And it’s a fair one to ask.

Thanks to everyone who made it live last night for our Monthly Charts Strategy Session.

With a few breadth thrusts in recent weeks, and a little preview of what a weaker dollar could do to this market, we had plenty to talk about.

This question included: New Bull or Mean Reversion in a Bear?

I think the S&P500 tells an interesting story. You’ve got that massive top that formed throughout the past year, completing with a break of support this Spring.

And after further selling, the bounce has brought it back all the way to the neckline. These are the “trenches”: [Read more…]

Did you see what just happened last month?

Financials went back and kissed the same prices they hit at their peak just before the Great Financial Crisis.

This is easily one of the most important price levels in stock market history. And I heard no one talking about it.

Meanwhile, the Home Construction Index did the exact same thing. In this case, even more special. The peak in Home Construction was when the fund launched, which is both classic and hilarious.

Here’s what these retests look like: [Read more…]