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All Star Charts

Expert technical analysis of financial markets by JC Parets

The J.P. Morgan Dilemma

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When it comes to stock market bellwethers, I can think of very few that are as important as J.P. Morgan Chase. If you look at a chart of the S&P500 going back decades and a chart of the JP Morgan, they look exactly the same. This brings me to our current dilemma. As J.P. Morgan goes, so goes the rest of the market right?

If that’s the case, then this stock market has its work cut out for it. $JPM broke some serious support levels last month that have kept it below overhead supply, and that’s a problem for the bulls. [Read more…]

Mystery Chart 01-15-2019

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From the desk of Tom Bruni @BruniCharting

One of my favorite exercises in our process is the use of “mystery charts.” Essentially, we take out the x and y-axes and and all labels to eliminate any biases. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted.

The point here is to not guess what it actually is (though most of you will try), but instead to think about what you would do. Buy, Sell, or Do Nothing?

[Read more…]

It’s The 50 & 57 Market!

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Some of the most important stocks in the world are at such critical levels that we’d be fools to ignore it.

More specifically, I’m referring to Financials: Broker Dealers and Regional Banks in particular.

As we are all aware, Financials peaked in 2007 before the epic collapse throughout 2008 and into early 2009. The repercussions of those events were felt all over the world. Some people are calling for a repeat of that period. Could we actually see it? Maybe. But I think it’s going to depend a lot on the outcome of the current battle taking place between buyers and sellers at one of the most critical levels in the history of these stocks. [Read more…]

[Free Chart of The Week] A “Loco” Trade Idea

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From the desk of Tom Bruni @BruniCharting

As part of my weekly review I went through the entire S&P 1500 across on both the weekly and daily timeframes to identify long and short opportunities, as well as any major market themes.

Unfortunately the evidence is still mixed when it comes to the market’s next directional move, but there was one chart that I wanted to point out because it reminded that opportunity can often lie where you least expect.

[Read more…]

[Options Premium] This Bellwether Hasn’t Rung the Bell Yet.

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In addition to broader indices, there are certain bellwether stocks we monitor continually to offer better clues as to the strength or weakness of the market. One such stock we monitor has not followed along with the prevailing winds in the market since the beginning of the year and according to our view, is at serious risk if the market were to pause and/or resume back to the downside.

From where I sit, the likelihood of a pause in this bounce is pretty high right now, and becomes even more so with each new closing high for 2019. So with the potential for a significant pullback rising, now feels like a great time to take a shot on a short position in this struggling bellwether. [Read more…]

Watching Metals For Interest Rate Signals

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From the desk of Tom Bruni @BruniCharting

Yesterday I discussed how we use ratio charts to identify trends for both trading opportunities and information that we can use to make inferences about the stock market’s next major move. Today I want to look at an inter-market relationship between Base Metals and Precious Metals that may help provide information about where interest rates are headed.

[Read more…]

Stocks Have Rallied, Now What?

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From the desk of Tom Bruni @BruniCharting

The S&P 500 has rallied more than 10% off its late December lows, making the reward/risk on the long side a lot less favorable as many of the major indexes and sectors approach overhead supply. When the market is at a point on an absolute basis where the weight of the evidence is mixed, the use of ratio charts to identify the trends that are happening under the surface becomes even more valuable.  [Read more…]

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