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Expert technical analysis of financial markets by JC Parets

Below Overhead Supply

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We give them fancy names like Bear Markets or Downtrends.

But all it really means is that the price of an asset is below overhead supply.

As investors, it’s important to know that there are sellers at higher prices waiting to sell to you if/when given the opportunity.

While there are an infinite number of examples in the current market environment, the S&P500 offers a clean look at exactly this: [Read more…]

Chart of the Day: Are You Hedged?

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Whenever in doubt, zoom out!

That’s how I learned it. Mostly the hard way.

And that’s something we like to do once a month, is really zoom out.

Monthly Candlesticks are great for that!

During this month’s review I really noticed how much stronger some of the European Indexes were. Especially this one here: [Read more…]

Chinese Internet Hits New 3-month Highs

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When the worst stocks in the world can’t go down, what does that say about current market conditions?

Granted, I’m more into breakouts above horizontal trendlines than diagonal ones, but as Steve Strazza told me yesterday, “of course, but one comes before the other”.

When you’re right you’re right Mr. Strazza.

Here’s that breakout we were discussing: [Read more…]

Chart of the Day: That Ether….

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I lived on 55th Street on the East side of Manhattan for a while.

To get some exercise I would often run along the East River and many times I’d run across the 59th Street Bridge over to Queens Blvd, and back.

It wasn’t a long run, but it got me going and would get me away from my screens for a bit.

Exercise was part of my “support” system during some of those rougher years.

On the way out to Queens you go over Roosevelt Island (which is a really weird place btw). And then you have Queensbridge over to your left directly north of the 59th St. Bridge.

For those unfamiliar, Queensbridge is the largest housing project in North America.

It’s where Nas is from, arguably the greatest rapper of all time. I personally don’t make that argument, but I can see how you could (he’s in my top 5).

There’s a famous diss track that Nas titled “Ether”.

To this day that word is synonymous with ruthlessness and dominating opponents.

Many many years later, here we are….

Looking at a chart of Ether. [Read more…]

12 Months of No Progress

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With everyone so certain about the upcoming recession, even Cardi B, why don’t we take a step back and look at what the actual prices of stocks are doing.

You can see here that the Dow Jones Industrials and Dow Jones Transports have done absolutely nothing for over a year.

For perspective, stocks first peaked in January of 2018, then went nowhere for 3 years, and finally broke out: [Read more…]

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