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All Star Charts

Expert technical analysis of financial markets by JC Parets

Buy The Ones Going Up

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Is it a bear market or a bull market, JC?

Are you bullish or bearish, JC?

These are the wrong questions to ask, in my opinion.

They’re the ones I get most often, but I think it defeats the point of what we’re trying to do here.

The question I find myself asking is whether we should be spending more of our time looking for stocks to buy, spending more of our time looking for stocks to sell, or should we be on vacation doing nothing in this market?

Those are 3 real options we have as investors.

For me, I think it’s worth spending our time looking for stocks to buy. [Read more…]

The Hall of Famers (10-07-2022)

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From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. You can click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

[Read more…]

A Sweet Setup

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From the Desk of Ian Culley @IanCulley

I love it when a pattern carries both bullish and bearish implications. It could break out or break down. Either direction works for me.

That’s the beauty of the setup. 

For traders, the directional move doesn’t matter. We can prepare for both outcomes. And, lucky for us, sugar futures look ready to swing either way.

[Read more…]

[PLUS] Weekly Observations & One Chart for the Weekend

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From the Desk of Willie Delwiche.

Apple Floats, Small-Caps Skid

The Chart: 

Many areas of the stock market have undercut their June lows. The largest company (Apple) and an ETF of small-cap stocks (IWM) stand out as exceptions. When we look over 3+ years (rather than just 3+ months) we see that small stocks are back to pre-COVID levels, while Apple has been consolidating its gains.

Why It Matters: 

The post-COVID speculative bubble in small-caps has been unwound. For Apple, the work seems hardly to have begun. Apple’s resiliency could become a liability if stocks take another leg lower and investors look again for safe havens to sell. As it stands now, Apple  is larger than 5 entire sectors in the S&P 500. Bear markets don’t usually leave anything unscathed.

[Read more…]

Buy Charts On Magazine Covers

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The way I learned it was that we want to buy stocks when the journalists put a chart on the cover of a magazine.

I like to pick on The Economist because they have such a great track record of being the last ones to the party.

Here’s a good run down of a few favorites and part of the reason we got so cautious last Spring.

Fast forward to today: Can we classify this one as a chart? Does this count? [Read more…]

High-Yield Hangs Tough as Credit Spreads Hold

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From the Desk of Ian Culley @Ianculley

If you can pry your eyes from the UK gilt and Credit Suisse articles, you’ll find it’s not all doom and gloom across the bond market – especially high-yield debt in the US.

A quick warning before we continue: You probably won’t see a similar message on the financial news. It’s just too optimistic for the current environment. It wouldn’t get enough clicks.

But facts are facts. And right now, high-yield bonds are hooking higher, while stocks are also rising.

[Read more…]

Exploding Options

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According to the Wall Street Journal, options volume continues to explode – driven primarily by the growing popularity of short-dated options.

Whether looking to speculate, hedge or collect premiums, options players are increasingly flocking to options that have fewer than 7 days to expiration. And with the proliferation of weekly options and three-times weekly expirations in popular index ETFs like $SPY, $QQQ, and $IWM, traders frequently have the opportunity to trade options expiring within 24 hours!

It is no surprise that these types of short-dated options are attractive to some players. They offer the best characteristics of options: defined risk, leverage, and affordability for even the smallest of traders.

Of course, there is no free lunch. As nice as all the pros are, the cons are equally supersized when the ass-end of gamma smacks your trade in the face. As quickly as profits can accumulate when you nail the timing of one of these trades, any hint of delay for a long options position or fear of swift reversal in a short options position can rapidly erode whatever gains you may have in your position. [Read more…]

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