We discussed it earlier this week, but now that the weekend is here, it’s a good idea to take a step back and recognize what’s going on.
The bottom line is this: the number of Breadth Thrusts are adding up. [Read more…]
Saturday Morning Chartoons: Breadth Thrusts?
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
Rocks Are Ready To Rip!
From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Gold looks like it’s ready to run.
The largest gold miner in the world, Newmont Mining Corp. $NEM, has broken out of a multi-year base.
Silver and platinum have dug in at critical support levels and are catching higher.
And, most importantly, gold is in the process of reclaiming its former all-time highs from summer 2020.
These are all bullish developments, suggesting gold — and precious metals more broadly — are ready to join in on the party that most commodities have been enjoying for more than a year.
International Hall of Famers (03-18-2022)
From the desk of Steve Strazza @Sstrazza
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs. We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
2 to 100 Club (03-16-2022)
From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach. It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on technology and growth industry groups such as software, semiconductors, online retail, solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
[Options] Fading A Pullback in Metals
The move in metals, commodities, and materials was pretty rapid during the last couple of months. Given that, it’s little surprise we’ve seen a pullback in a lot of these names over the past week or so.
One name that was recently on our Hall of Famers report rose rapidly with everyone else. And now it feels like it overshot a bit on it’s pullback and it’s offering a nice tactical opportunity to swoop in and steal some profits.
The Tale of Patterns and the Human Condition
Anyone familiar with the endeavor of trading has eventually realized the flaws of our human instincts. This isn’t isolated to investing.
It’s a widely documented phenomenon that we’re constantly susceptible to subconscious biases.
We’re approaching this from the lens of technical analysis. But apophenia is universal to the human condition.
Apophenia: the tendency to perceive a connection or meaningful pattern between unrelated or random things (such as objects or ideas).
Let’s run through some examples and see how it applies to trading.
Cash Levels Near Multi-Decade Highs
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