Expert technical analysis of financial markets by JC Parets
On this episode of Pardon The Price Action, we continue to see cyclical stocks showing relative strength and popping up on our new highs list.
Are you still stuck in American Growth stocks, or have you moved on?
Metals and Mining stocks are also breaking out to new highs, both in the U.S. and Internationally.
The U.S. is the worst performing country in the Western Hemisphere in 2022. Are you paying attention?
Where do we go from here? What are we buying? What’s the next move?
All this and more on this week’s episode of Pardon The Price Action.
Check out the full video:
Here is an inside look at our weekly Crypto Strategy Session that we have every Friday.
Sometimes there are more trading opportunities than others. That really just depends on the market environment.
In today’s video we talk about the Key levels for Bitcoin, how some of the strongest Alts are setting up, and how far the correlation has come between Bitcoin and the S&P500.
The theories about Bitcoin being an inflation hedge, the theories about Bitcoin being a hedge against the US Dollar and the theories about Bitcoin being its own uncorrelated asset all turned out to be wrong.
There’s NO evidence in price that proves those are anything but fairy tales.
Maybe one day one of those may turn out to be true. But we need to focus on the reality of the now and the present.
What do the facts say about what’s going on? Not the conspiracy theories. Just the facts.
Here’s this week’s live video strategy session: [Read more…]
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Gold is the hot topic this week, now that it’s finally showing signs of life.
It’s impossible to deny gold’s near-term strength. But we think the setup probably needs more time to develop and work through all the overhead supply from the past few years.
Long story short, gold is still pretty messy if it’s below the 2011 highs.
If and when the shiny metal makes a decisive resolution, there should be plenty of time to join in and ride the trend higher.
As for other areas within commodities, we continue to see a growing list of contracts reclaim key levels and print fresh highs.
Procyclical commodities like crude oil and gasoline might come to mind since they’re constantly in the news cycle.
But other areas, such as grains and even livestock, are also breaking to new multi-year highs.
Today, we’re going to highlight an agricultural commodity that often gets overlooked.
Let’s talk about hogs! [Read more…]
From the desk of Steve Strazza @Sstrazza
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
If you’ve been following our narrative this week, you know we’ve been preaching patience as the stock market is most decidedly in the “chop zone” right now. Me and JC did a live twitter stream on Wednesday afternoon discussing the situation and how we don’t feel compelled to force any new trades.
That is still the situation. But one name that I’ve been watching for a delta-neutral credit spread has moved in the last two days in a way that gives me a little more confidence that now may be a good time to get involved. [Read more…]
