Expert technical analysis of financial markets by JC Parets
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Canada, like a few other Major Indexes from around the globe, continues to churn around all-time highs. So which way will it resolve?
Let’s go sector by sector and see what the weight of the evidence suggests, just like JC did for US Stocks.
by Tom Bruni
Excuse my play on words in the title, but I wanted to make the point that at 13% of the Nifty 500, the Fast Moving Consumer Goods Index is a big part of the bull case for Indian stocks.
We’ve talked about weak participation in this sector and since then it’s deteriorated further as opposed to getting better.
by JC
A Doctor would never diagnose a patient without first seeing what’s going on inside. A mechanic won’t be able to tell you what’s wrong with your car without lifting the hood. It’s no different in the market. How can we possibly judge the S&P500 without opening it up first to see what’s happening among its components.
Today we’re going to focus on the sectors themselves. We’re looking at weekly candlestick charts for all of the 11 major sectors:
How many sectors are making new highs? How many are making new lows? Are more of them starting to trend higher or are more of them starting to trend lower. In which direction are consolidations resolving, higher or lower? [Read more…]
by JC
Market Breadth means a lot of things to a lot of people. The way I see it, we’re analyzing a market of stocks. There are a variety of tools to help us do that including the Advance-Decline Line, List of new highs & lows and the percentage of stocks getting overbought or oversold, which can be calculated in many ways. Today I’m joined by Andrew Thrasher in a video we shot earlier this month in New York. It’s an important topic and I’m glad we had the chance to discuss it. [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
I saw a couple tweets yesterday about FAANG stocks and their “lack of participation” in the market’s four month rally and just don’t get it.
First it was a problem when the largest stocks in the S&P 500 were leading. Now it’s a problem that most aren’t hitting all-time highs with the S&P 500.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
I just finished writing a free post for All Star Charts India following up on where we’ve been over the last two months and what this last week of price action means for Indian stocks in the near-term.
As I was writing up the post I noticed a lot of similarities between US Stocks today and where India was just a few weeks ago.
I’m going to summarize the key points, but I’d encourage you to read that post in full so you can really see what I’m talking about below.
Anyway, let’s just jump into it.
by Tom Bruni
Long-term, we’re bullish Equities in India and around the world, but are remaining patient in the near-term due to momentum and breadth divergences we’ve been seeing across major indexes, sectors, and individual names. It’s happening in the US too.
We’ve been writing about this for a few weeks, so I wanted to follow up today and show the progression of that thesis.
by Tom Bruni
Last week’s Chart of The Week discussed the “One More High” type setup we often see prior to price consolidations or pullbacks, providing some context around why we continue to remain structurally bullish, but not very aggressive in the short-term.
