One of the most valuable exercises throughout my process is going through every single country around the world looking at both weekly and daily charts. One by one I make my annotations and take my notes. This is certainly time consuming, but the process makes it impossible for me not to notice similar themes going on around the globe. I promise you from the bottom of my heart that the reason I got bullish in late January after being the biggest bear on The Street coming into 2016 was because of the behavior of global markets. My turning bullish had nothing to do with the U.S. stock market. [Read more…]
[Premium] Weekly Open Letter About The Current Market Environment
In this week’s members-only letter we discuss the following topics:
- The 7 Reasons Why We Want To Buy or Sell Today
- The Most Ignored Commodities Are Acting The Best
- The Best Crude Oil Trade
- What This Japanese Yen Rally Means To Stocks
- Which Way Is The U.S. Yield Curve Headed
- Why Banks Are The Best Trade We Have Today
- What Do Weaker Copper Prices Mean For Stocks?
- Commitment Of Traders Report For Gold Is Bearish
Is A Monster Mean Reversion Coming In Valeant?
From the desk of Tom Bruni @brunicharting
***
Valeant Pharmaceuticals (VRX) has fallen roughly 90% from its August 2015 highs, but is now potentially setting up for a counter-trend rally.
Structurally this stock remains in a strong downtrend, but is now testing long-term support near 25-27. Prices first tested this level in March and April of this year, rallied briefly, but are now slightly undercutting those lows as momentum attempts to put in a bullish divergence. If prices are above 27 on a weekly closing basis, that would confirm the bullish momentum divergence and failed breakdown. [Read more…]
U.S. Treasury Bond Yields Are Breaking Down Again
Last week I shared a chart with you guys where I purposely left out the ticker symbol and y axis. The reason I post these mystery charts every now and then is to eliminate any biases that we all have in these markets. This allows us to approach a market and focus only on the supply and demand dynamics in order to forget everything else.
The most recent Mystery Chart was the U.S. 10-year Note Yield upside down. Here is the actual chart where you can see yields approaching the apex of these two converging trendlines: [Read more…]
[Premium] My Notes From Today’s Dow 30 and U.S. Sectors Review
One of the most valuable tools we have as technicians is the ability to go through every single stock in the Dow Jones Industrial Average and every sector and sub-sector in the S&P500 so that we can weigh all of the evidence. It might take some time, but I promise you that there is no better way to gauge the strength or weakness in a market, than by going through them all. Since most people don’t have the time to do this work as regularly as I do, my annotations and notes can easily be referenced in the Chartbook.
Today I wanted to share some of my conclusions after running through all of the Dow Components and S&P Sectors on both weekly and daily timeframes. This analysis consists of over 120 charts and all of them have been updated today in the Chartbook. [Read more…]
Mystery Chart – Buy, Sell, or Do Nothing? 5-13-16
Every now and then I throw out a mystery chart just to get us thinking. Not knowing what a chart represents helps eliminate biases and any ideas we may already have in our heads. Today we are looking at what I think is one of the more interesting developments in the market today.
This is a chart that has been in an uptrend for many years. After about 4 years of consolidation, prices appear to be breaking out above the upper of these two converging trendlines. [Read more…]
Audio: Benzinga Morning Radio Show 5-12-16
Every 2 weeks I sit down with the good folks at Benzinga to chat about the markets on their morning radio show. Today we went over why we want to be shorting stocks. We also talk about what this rally in Japanese Yen means to the U.S. and Japanese Stock Market. With this Yen strength combined with the deterioration in market breadth over the past 6 weeks, there is a lot more to be negative about than positive. Apple is a favorite short of ours and most of the U.S. and European Banks. In fact, it’s hard to find a stock out there that isn’t a short.
Here is the full interview:
European Banks Need To Stop Crashing
I think the bull case for the stock market starts with the European banks. When you talk about bull markets and uptrends, financials need to participate. There’s no way around it. If you have European banks crashing to new multi-year lows, it’s hard to have a sustainable uptrend in equities. As bearish as I am towards stocks these days, the bull case begins with this sector. It would be irresponsible of me not to recognize that.
Today we’re comparing the Financial Sector in Europe to Financials in the U.S. This is a great visual comparison that we look for to determine whether or not there is risk appetite for bank stocks. If European Banks are the ones dragging down the space, we want to see them start to outperform U.S. banks as evidence of risk appetite. So far all we’ve seen is the exact opposite: new lows, new lows, new lows. [Read more…]
- « Previous Page
- 1
- …
- 758
- 759
- 760
- 761
- 762
- …
- 960
- Next Page »
