This is the video recording of the August 2024 Mid-month Conference Call.
[Options] They Shop Online in Asia Too!
In today’s Flow Show, Steve Strazza and I assess the current market environment, post- whatever the hell we’re calling what happened a couple weeks ago (Volmageddon 2?, Yen YoYo? The Carry Drop?).
It feels more and more like that was merely a footnote to an otherwise pretty robust bull market. We’ll see.
Regardless, we’re looking for bullish setups in this tape and an online retailer out of South Korea has our attention. [Read more…]
Saturday Morning Chartoons: The Bulls Came Back
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.
The 79th Element Continues To Shine
From the Desk of Steve Strazza @Sstrazza
The price action from commodities has been lackluster, at best, this year. Our equal-weight commodity index is at its lowest level since early 2021.
Despite the broad weakness, gold continues to shine. The 79th element closed this week at its highest price in history.
[Options Premium] Off to the Race!
Feels fitting to position ourselves in a company that is known for going fast. Because if this bull market is about to resume its normal operation, then this company is likely going to lead us higher, quickly. [Read more…]
International Hall of Famers (08-16-2024)
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.
It’s Not Just Tech – Look at Canada eh!
Toronto is such a great town.
I hadn’t been here since 2019.
It’s fun seeing all the ADRs in the wild – Bank of Montreal $BMO, Canadian Pacific $CP, Royal Bank of Canada $RBC and so many others!
Also, the conversations I’m overhearing in the hotel lobby have been about the S&P500 and earnings. You don’t hear talk like that in many other cities.
It’s not surprising, as we all know Toronto is a big financial hub for Canada. But it’s reassuring to experience it and watch it thrive.
The TSX is hitting new all-time highs eh! [Read more…]
Breakout Alert: The Euro Posts Fresh 6-Month Highs
From the Desk of Ian Culley @IanCulley
The US Dollar Index $DXY is finishing the day relatively unchanged.
Today’s much anticipated CPI print failed to move the needle for the greenback.
On the flip side, $DXY’s most significant component – the euro – is ripping toward a new year-to-date high.
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