Expert technical analysis of financial markets by JC Parets
From the desk of Tom Bruni @BruniCharting
Thank you to everyone who responded to this week’s mystery chart.
Most people were buyers of this one…and most thought it was a stock-related chart, but it wasn’t. Try again next week.
Anyway, let’s take a look. [Read more…]
From the desk of Tom Bruni @BruniCharting
As we head into year end there’s a lot going on in markets, particularly on the macro and intermarket front.
With that being said, I gotta give the people what they want so today’s Chart of The Week is going to focus on a trade setting up in one of 2019’s most controversial stocks…Beyond Meat.
There’s been lots of frustrating talk about companies with high share prices not splitting their stock. I tend to agree. While technically splitting shares of a stock doesn’t do anything to enhance the value of your investment, it does help to provide greater liquidity for one to get into or out of a position quickly and at a fairer price.
But this is an argument for academics. We’re just here to make money.
Perhaps you’ve seen JCs recently bullish post on Amazon $AMZN and you agree that you’d like to take a long position, but the high share price scares you?
How quickly people forget what a beast Amazon has been for years. All it took was an 18-month consolidation for investors to fall out of love with one of the greatest stocks in American history.
The bet the bears are making is that Amazon has been lagging and dragging down the Consumer Discretionary sector, considering it’s 22% weighting in the index $XLY. So if you believe this is a big market top, I understand why you would think Discretionaries are setting up for a big fall. I totally get that.
Here’s the chart: [Read more…]
From the desk of Tom Bruni @BruniCharting
New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
Mumbai is one of my favorite cities in the world. There is no question about it.
Last month I had the chance to take the boys out there for a week and show them why I love visiting there so much.
Here’s a quick wrap up video about our experience: [Read more…]
People don’t like it when I tell them we’re near the beginning of a new bull market in stocks. For some reason, they prefer that cozy feeling of going to bed thinking stocks are near an important high, and they’ve somehow outsmarted the system by selling stocks in uptrends instead of buying them.
I’m convinced some of these people must be looking at their charts upside down.
Anyway, let’s take a look at the markets so I can show you why I think we’re closer to the beginning of a new bull market and not near the end of an old one: [Read more…]
Time to take charge!
The mobile payments space is hot. And some price targets for entry have been met. Let’s get to work! [Read more…]
