From the Desk of Ian Culley @IanCulley
The media is showering gold and precious metals with attention.
I get it. New all-time highs capture eyes.
But you can’t leave copper and base metals out of the story…
Expert technical analysis of financial markets by JC Parets
by Ian Culley
From the Desk of Ian Culley @IanCulley
The media is showering gold and precious metals with attention.
I get it. New all-time highs capture eyes.
But you can’t leave copper and base metals out of the story…
From the Desk of Alfonso Depablos @AlfCharts
2024 is far from being like 2023.
While we’ve experienced some healthy sector rotation, the first quarter was characterized by waning momentum.
With these long-standing momentum divergences in place, so far, the second quarter has been characterized by selling pressure.
Since last week, we’ve seen an increasing number of these divergences confirmed by price.
Making matters worse is where this downside is taking place. We’re also seeing a growing list of indexes and sectors lose key former highs.
Until the bulls can reclaim these polarity zones, markets will remain messy.
Let’s talk about some of them.
From the desk of Steve Strazza @Sstrazza
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. 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.
by JC
You can now add the Dow Jones Industrial Average to the list of indexes that are DOWN for the year so far.
I’ve argued many times that the Dow Jones Industrial Average is the world’s most important stock market index.
And while I’m not going to get into all the reasons again today, I’ll just show you the chart of the S&P500 and Dow Jones Industrial Average going back 60 years.
They move together… [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
Failed breakouts and trading ranges dominate the charts.
It’s a mixed-up, messy market environment wherever you look — bonds, stocks, commodities, forex…
US treasuries are a prime example, playing it cool with muted volatility and tight credit spreads while yields climb.
Perhaps the near-term rise in rates makes it difficult to grasp, but the US benchmark yield is actually chopping within a broader corrective phase.
by JC
Stock market volatility is at the highest levels since October.
The majority of stocks are NOT in uptrends.
This market is NOT like it was last year.
In fact, coming into today, the majority of stocks on the NYSE are down for the year. Also 2/3rds of the stocks on the Nasdaq are negative for the year.
Go and count for yourself.
You’ll quickly see that the majority of stocks in the Large-cap Nasdaq100 are down this year. Same for the Small-cap Russell2000 Index and the S&P Mid-cap 400.
Different markets call for different strategies.
Here’s the $VIX hitting levels this week not seen since Halloween: [Read more…]
by JC
This is the video recording of the April 2024 Mid-month Conference Call.
From the Desk of Steve Strazza @Sstrazza
When investing in the stock market, we always want to approach it as “a market of stocks.”
Regardless of the environment, there are always stocks showing leadership and trending higher.
We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.
The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too.
We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.
We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics.
Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.
But we’re also highlighting lagging stocks on a recurring basis.