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.
Buy The Ones Going Up
The Hall of Famers (10-07-2022)
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.
A Sweet Setup
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.
Buy Charts On Magazine Covers
High-Yield Hangs Tough as Credit Spreads Hold
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.
Exploding Options
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…]
October Strategy Session: 3 Key Takeaways
From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
We held our October Monthly Strategy Session Monday night. Premium Members can access and rewatch it here.
Non-members can get a quick recap of the call simply by reading this post each month.
By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.
With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.
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