Expert technical analysis of financial markets by JC Parets
by JC
In bull markets you’ll see a lot more stocks making new highs than new lows.
In the current market environment we’re used to seeing the opposite.
Here’s an update on how that’s going. For those of you keeping track at home, we’re now going on 34 consecutive weeks of more stocks making new lows than new highs: [Read more…]
by JC
If you’ve been following along over the years, you’ve heard me mention plenty of times that breadth thrusts tend to cluster together early on in market uptrends.
Well, a funny thing happened yesterday – we had our first 9-to-1 up volume day on the NYSE since May.
To quote Willie, “Stringing 2 of these together without an intervening 9-to-1 down day would be a very positive development”.
Here’s what that looks like: [Read more…]
by Ian Culley
From the desk of Ian Culley @IanCulley
Sellers are in the driver’s seat when it comes to commodities these days.
Besides natural gas and livestock contracts, few commodities present buying opportunities that we like. In reality, most have either broken down or are on the verge of breaking down.
As the latest bout of selling pressure shows little signs of easing, we’re likely to experience more damage in the coming days and weeks.
Copper, one of the most economically sensitive and widely followed commodities in the world, is a great example of recent weakness. It can’t stop falling.
Given the downside volatility raw materials have experienced since the start of the summer, many trends are stretched. We don’t want to be too bearish here. We want to let the dust settle.
With that said, it’s hard not to imagine where the bears will strike next.
And when we scroll through our charts, it looks like they have crude oil in their sights.
Let’s take a look. [Read more…]
From the desk of Steve Strazza @Sstrazza
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that which you can check out here.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.
That’s a blog post title I never thought I’d write. LOL.
Even more strange, the trade we’re putting on today is in a public company with an unusual name I’ve never heard of before!
Weird times, indeed.
Steve Strazza and I looked at it a bit on Tuesday during our “Flow Show” on twitter and I was less than enthusiastic at the time. But as the trade has marinated around my brain a little bit since then, it has grown on me.
by JC
The US Dollar took a little break from going up yesterday, and that has continued a bit this morning.
A funny thing happens when the Dollar isn’t ripping – stocks and crypto prices are able to rise….
Today is Crypto Fridays around here at Allstarcharts.
We start with our 7AM meeting with the whole Crypto Team going over everything from the major trends, to new coins popping up on our screens, or the latest from the private world of defi and web 3.
Then at 10AM ET we hold our weekly Crypto Strategy session for Members of ASC Crypto.
[Call +1 (323) 421-7910 to access ASC Crypto Trade Ideas and Reports]
In addition to all of this, I like to schedule my “Crypto” type meetings to Fridays as well. So it’s become Crypto Fridays around here, almost by accident, and I like it.
It’s fun.
Anyway, this is what’s on my mind today.
Tell me there is a more important set of charts in all of Crypto right now.
Prices of the two biggest and most important coins are back to the prior cycle’s high: [Read more…]
From the Desk of Steve Strazza @Sstrazza
When investing in the stock market, we always want to approach it as “a market of stocks.”
Regardless of the environment, there are always stocks showing leadership and trending higher.
We may have to look harder to identify them depending on current market conditions… but there are always stocks that are going up.
The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too.
We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club. We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics.
Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports. Now, we’re also highlighting lagging stocks on a recurring basis.
by JC
These are the registration details for our live mid-month conference call for Premium Members of All Star Charts.
Our next Live Call will be held on Monday July 18th at 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Here are the details for Monday night: [Read more…]
