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All Star Charts

Expert technical analysis of financial markets by JC Parets

BNN Bloomberg Interview: Stocks, Gold and Dollars

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Here is the video from my BNN Bloomberg interview this week. We talk about the implications of a weaker US Dollar, including what that would do to stocks, emerging markets, metals and others. I’ve been waiting for it all year. But think about it. We’ve already seen some of the things we would expect to see in a weaker Dollar environment. Gold strong, for example, and an inability for the Euro to go lower. So for me, I think this Dollar fall is just getting started. [Read more…]

Swiss Markets Break Out To All-time Highs

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One thing we know about all-time highs is that they are not evidence of a downtrend. With near-record pessimism towards stocks recently, it’s fun to watch the ones that are breaking out to all-time highs. I’m not really sure what everyone is so angry about, these long bases are slowly breaking out one by one, not breaking down.

Something we’ve been pointing to all along is that for the major indexes to take out resistance from the past 17 months, we need to see an expansion in participation to the upside. In other words, more stocks, sectors and indexes breaking out to all-time highs. This expansion of breadth is likely to lead and/or coincide with an upside resolution in indexes like the S&P500, Dow Jones Industrial Average, Global100 Index and many others.  [Read more…]

Triple Tops Are Rare And Quad Tops Fuggedaboutit

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It feels good to be back in the office listening to music and ripping through charts! This is something I love to do. The past few weeks were incredible. I met with a lot of smart people throughout Europe and I’m back with new perspective, new ideas and new friends. You can’t put a price tag on those experiences. When people ask me what they should invest in, I can’t help but answer with: yourself. Invest in what you’re doing and what you’re learning. I believe this to be true now more than ever.

The first thing that stands out to me as I work through my chartbooks is how little things have changed, particularly in the stock market. The S&P500 is up 1% since I left a month ago. The rangebound market we’ve been in continues to progress in the same direction, or lack thereof. In mid-May I pointed to the Global 100 as the chart that tells the stock story the best. At that point, we were looking at a 3rd test of overhead supply starting in January 2018. Fast forward a month and stocks are now attempting a 4th test. [Read more…]

One Stock Can’t Do It All

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A week ago we outlined two major breakouts in the largest components of the Nifty Infrastructure and Nifty Public Sector Bank Indexes, however, we also outlined the waning upside momentum that remains a problem.

For premium members, we performed a deep dive into the Infrastructure space to provide trade opportunities outside of Larsen & Toubro, so in this post I want to summarize what we saw when performing the same exercise for Nifty Public Sector Bank components.

[Read more…]

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