As I was updating our Monthly Chartbook today for members, one theme that stuck out clear as day is that there are really two separate markets in Indian Stocks right now.
The Golden Age of Precious Metals?
From the desk of Tom Bruni @BruniCharting
Short-term strength in Precious Metals continues, so I want to do an in-depth analysis of the space like I did last August to see if we’re now entering “The Golden Age of Precious Metals”.
[Chart of the Week] Is A Stronger Euro Good For Stocks?
Coming into the year, the most important chart I was watching was the US Dollar. As far as risk appetite was concerned, I felt the Dollar would be a great tell. The way I saw it, the Dollar rallied throughout 2018 to achieve its upside objective and then broke the uptrend line from those former lows. If we were to just rip through those key levels without at least some kind of pause or consolidation, it would most likely be because of a tremendous flight to safety. Stocks would probably be doing poorly under those conditions.
But flip that thesis upside down, and a weaker Dollar would most likely mean strength in stocks. This is exactly what we’ve seen throughout January = A weaker Dollar and higher stock prices: [Read more…]
Medical Equipment: New All-Time Relative Highs
You know what is not a characteristic of a downtrend? All-time highs!
Friday afternoon, the Medical Equipment Index went out at new all-time weekly closing highs relative to the S&P500. We look to relative strength as a leading or coincident indicator for stocks. This sector’s behavior is no different. [Read more…]
[Premium] Medical Devices Are Breaking Out
There is a reason why Medical Equipment stocks look like Tech stocks and not the rest of Healthcare. They’re essentially tech stocks trapped in the body of a healthcare stock. Although they are indeed in the Healthcare space, we need to recognize how they behave, the relative strength vs their peers and then treat them as their own group.
In case you missed it, Medical Equipment stocks went out yesterday at their highest weekly close relative to the S&P500 EVER. This is not evidence of a downtrend or any kind of weakness. Quite the opposite in fact: [Read more…]
Indian Stocks Need To Get IT Together
Tuesday I posted a mystery chart and asked you all to let me know what you would do. Buy, sell, or do nothing. Many said that it looked like the long-term downtrend was intact, but that you would wait for a downside resolution from this range before acting. I agreed.
So today, I want to reveal the full chart and share why I feel it’s relevant.
Chart Of The Week: Dow Theory 2019
When you hear people talking about Dow Theory, it usually revolves around what the Dow Industrials and Transports are doing and whether they are diverging or confirming one another. I want to be perfectly clear that while this is certainly one of Charles Dow’s tenets from the late 1800s, this is just one of many, and not even in the top 5, as far as I’m concerned. I encourage you to check out my post: Everything About Dow Theory.
Today, we are indeed going to focus on the behavior of the Dow Jones Industrial Average and Dow Jones Transportation Average. Earlier this week we discussed the Dow Jones Composite, which includes the 15 stocks in the Dow Utility Index as well. For this conversation we’re analyzing just the Industrials and Transports. [Read more…]
Why These 10 Stocks Matter
From the desk of Tom Bruni @BruniCharting
Tuesday I posted a mystery chart and asked you all to let me know what you would do. Buy, sell, or do nothing. Most of you said you’d be short or doing nothing until the range resolves lower, while only one or two of you said you’d be long with a tight stop or were waiting for an upside break.
Given how closely this chart resembles the S&P 500 or other major US Indexes, I wasn’t surprised by those responses. It still feels like many people have a short bias, so continued churn at current levels or a slow grind higher could leave a lot of people left behind.
Anyway, here’s the actual chart and why I feel it’s relevant.
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