Expert technical analysis of financial markets by JC Parets
They’re out there telling me that the stock market is due for a correction this quarter.
But the stock market just had a correction last quarter.
Look at the Equally-weighted Nasdaq100 Index making zero progress since the start of March.
Remember that correction we were looking for back in Q1?
Well we got it: [Read more…]
From the Desk of Steve Strazza @Sstrazza.
Welcome back to Under the Hood, where we’ll cover all the action for the two weeks ended July 19, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.
Click here for a behind-the-scenes look at our process.
Whether we’re measuring increasing interest based on large institutional purchases, unusual options activity, or simply our proprietary lists of trending tickers, there’s a lot of overlap.
From the desk of Steve Strazza @Sstrazza
Last week, we held our June Monthly Conference Call, which Premium Members can access and rewatch here.
In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each.
Let’s get right into it!
From the Desk of Ian Culley @IanCulley
Gold’s failed breakout is testing investor resolve.
But let’s consider last week’s action before unearthing our bullion.
The Dow Jones Industrial Average just had its highest weekly closing price in history.
Meanwhile, this week we also saw the highest reading of NYSE stocks above their 200 day moving average during this entire bull market.
Do you know how many times we saw a new 52-week high for the Dow in 2021 along with these breadth readings also hitting new cycle highs?
Zero.
It didn’t even happen once.
That’s because back in 2021, market breadth was deteriorating, not expanding.
See the difference? [Read more…]
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.
From the Desk of Ian Culley @IanCulley
Risk assets are taking a hit.
The major equity indexes are seeing red. Crude oil is slipping below eighty bucks. And gold is failing at new all-time highs.
Perhaps the markets are navigating the summertime blues – a tune base and industrial metal investors have been humming for months.
From the Desk of Steve Strazza @Sstrazza
Breadth has expanded in a big way since last week, with more and more stocks finally joining in on the bull market as big-cap tech leaders take a breather.
At the sector and industry group level, our list of indexes that are in uptrends continues to grow.
Some notable new members on this list include regional banks, small-caps, and various speculative growth funds.
After years of basing in accumulation patterns, these groups are just now completing primary trend reversals.
What does this mean?
In its simplest form, it means there are more ponds we can fish in for long opportunities. There are more stocks — and groups of stocks — that are in uptrends.
It’s just more options for us.
