Sometimes I share with you guys what I think is a really interesting chart and/or trade and call it the “Chart of the Week”. Other times I’ll put together a study to try and confirm or invalidate a prior thesis of mine and I’ll title that the “Spreadsheet of the Week”. Today, however, I think I have what could very possibly be the Chart Of The Year! [Read more…]
Why Natural Gas Could Rally 40% From Here!
From the desk of Thomas Bruni @BruniCharting
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In early January I was pretty vocal about fading the rally in Natural Gas futures, but with my downside targets met last week, I think this market is setting up for another sharp rally to the upside.
Before getting into my price analysis, it’s important to point out that Natural Gas just entered what is seasonally the best 3 month period of the year while public pessimism sits at multi-year highs. The combination of these conditions could provide prices with a serious tailwind if they begin to gain momentum to the upside. [Read more…]
A Monster Breakout Is Underway In Aussie Dollars
From the desk of Thomas Bruni @BruniCharting
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Last week a structural breakout in AUD/USD was confirmed. Whether you trade currencies or not, it’s worth paying attention to because of its implications from an inter-market perspective.
From a structural point of view, the Australian Dollar has been in a downtrend since 2012, with the selling really accelerating in late 2014. Recently this pair met its downside target at support near 0.68-0.69 and began consolidating as momentum diverged positively. Last week, prices broke above the downtrend line from the November 2014 highs to confirm the bullish divergence and breakout. This development suggests that as long as prices remain above the downtrend line, this market is likely headed toward prior support near 0.8075-0.81. [Read more…]
[Chart Of The Week] About That Bottom In Crude Oil
There are a lot of interesting things going on in the Crude Oil market these days from both a long-term and a short-term perspective. Premium Members of Allstarcharts have wanted to be long Crude Oil since mid-February when prices were able to get back above that key $29.60 level. Our short-term upside target was near $38 and this target is being hit this week. Nice little 30% rally. But moving forward, the implications of this short-term move now change the supply and demand dynamics in Crude Oil bigger picture. [Read more…]
[Premium] Conference Call Wednesday March 9 at 7PM ET
Every month we host a conference call for All Star Charts Members where we discuss ongoing themes throughout the global marketplace as well as changes in trends where new positions would be most appropriate. This includes U.S. Stocks & Sectors, International Stock Indexes, Commodities, Currencies and Interest Rate Markets.
This month’s Conference Call will be held on Wednesday March 9, 2016 at 7PM ET
In this month’s premium members conference call, we will discuss the following topics: [Read more…]
Crude Oil Confirms An Epic Failed Breakdown
From the desk of Thomas Bruni @BruniCharting
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Crude Oil confirmed a failed breakdown below the 2009 lows last week. This development is extremely important from a risk management standpoint and has big implications from an inter-market perspective.
This market has been in a structural downtrend since late 2014 when prices broke down out of a five year long symmetrical triangle. The resolution out of this pattern was explosive, with prices declining roughly 75% off of the 2014 highs in less than two years. During this decline there has been no reason to be long this market for anything more than a tactical bounce, but with last week’s close above the 2009 lows it is finally feasible for those with a longer-term time horizon to approach this market from the long side. [Read more…]
Why There is Another 20% of Upside in Lumber Prices
From the desk of Thomas Bruni @BruniCharting
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If you’re a market participant, Lumber should be on your radar. The weight of evidence suggests that this market has upside roughly 20% upside from current levels and offers a trade opportunity not correlated to US equities.
Lumber has been in a structural downtrend since breaking down from a symmetrical triangle in early 2015. The decline continued throughout the year, with prices putting in a failed breakdown and bullish momentum divergence at long-term support near 215. After confirming the failed breakdown by closing back above the May 2015 lows, prices consolidated for 5 months and have now broken out above a multi-year downtrend line. [Read more…]
[Premium] A Summary Of All The U.S. Stock Market Indexes
From the S&P500 to the Dow Jones Industrial Average and down to the Russell2000 and Mid-cap 400, every week I go index by index looking for clues in order to take a weight-of-the-evidence approach towards the U.S. equities market. I have updated all of the indexes in the Chartbook on both weekly and daily timeframes.
The Indexes we discuss today are:
- S&P500
- Dow Jones Industrial Average
- Dow Jones Transportation Average
- Dow Jones Utility Average
- Nasdaq100 Index
- Mid-cap400 Index
- Russell2000 Small-cap Index
- Russell Micro-cap Index
- U.S. Treasury Bond Fund $TLT
- U.S. Treasury 10-year Yield
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