From the desk of Tom Bruni @BruniCharting
With Crude Oil down 25% over the last month and the rest of the Energy complex struggling in tandem, let’s take a look at where it stands and where it could potentially head. [Read more…]
Expert technical analysis of financial markets by JC Parets
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
With Crude Oil down 25% over the last month and the rest of the Energy complex struggling in tandem, let’s take a look at where it stands and where it could potentially head. [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
In this post we’re talking about Orange Juice, which may not quench your thirst so stick around to the end for another great bonus chart.
Let’s get into it.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
One of my favorite tasks each week is putting together our “Top 10 Charts” of the week report for Institutional Clients.
This week was very macro and intermarket focused, but one stood out as particularly interesting so I wanted to pass it along.
by JC
In case you missed it yesterday, we’re selling stocks up here and buying bonds.
I tried to outline the levels as best as I could. Let me know if you have any questions!
Quickly today, I just wanted to point out one chart of Emerging Markets that really stands out. Remember this Index is broken down as follows: China 32.40%, South Korea 11.84%, Taiwan 11.71%, India 8.13%, Brazil 6.78%, South Africa 4.25% & Russia 3.84%.
It’s basically 72% Asia and 10% Latin America.
Here’s what it looks like: [Read more…]
by Tom Bruni
Yesterday’s candle in most of the major indices was a “Bearish Engulfing” candle, which is a short-term reversal signal when it comes in an uptrend.
In today’s post, I want to bring that development to your attention and explain what it means within its longer-term context.
by JC
You guys know that I just tell it like it is. I don’t care what happens. The stock market can double or can get cut in half. Gold can go to zero tomorrow or to 10,000/oz and I won’t care. I’m too old to worry about the economic or social implications of market moves. Been there, done that and it doesn’t help. We have to look at everything as objectively as possible.
Now, with that said, I have some thoughts that some of you may not appreciate. But I’m not here to tell you what you want to hear. I’m here to tell you what I’m seeing right? So bear with me.
For those of you who have been around here a while, you remember just how bearish I was towards the US Dollar coming into 2019. The Dollar rolling over was a big catalyst for why we were so bullish of precious metals throughout the first 3 quarters of 2019. It wasn’t until September last year that we said, ok it’s time to get out.
That’s just a quick little history of our thought process, to give some of you newcomers perspective on just how open minded we are over here. Looking back, as well as precious metals did, the Dollar never rolled over. We got the gold trade right, but got the Dollar wrong. The US Dollar Index did not fall, but it didn’t rise either. It just sat there.
So now what? [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
This week’s talk of the town is how Financials, particularly Regional Banks, are rolling over relative to the rest of the market at a faster rate than the Yield Curve is rolling over.
While that’s certainly something worth noting, Financials as a group don’t really become that interesting until they break out to new all-time highs.
The XLF is close, but not there yet.
Instead, I think the focus should be on the Broker-Dealers & Exchanges ETF (IAI) as it presses up against all-time highs of its own.
Let’s take a look at what’s happening.
by JC
Sometimes the greatest things in the world are right there in front of you.
Of all the charts I look at and indicators that we include in our process, Consumer Staples relative to the S&P500 has to be one of the most valuable. And for that matter, one of the more simpler tools to use.
Consumer Staples are the things we’re theoretically going to buy even if there’s a recession or the economy is doing poorly. No matter how bad things get, we’re still going to drink beer, smoke cigarettes, brush our teeth, wash our dishes and so forth. Those stocks tend to outperform when the rest of the stock market is falling. Some of the top holdings of the S&P Consumer Staples Index include Colgate-Palmolive, Philip Morris, Procter & Gamble, Coca-Cola and Pepsi.
These stocks represent consumer staples and tend to pay higher dividends and are less volatile than the overall market. We call that “lower beta”, because it makes us sound smarter.
Anyway, you can see in this chart how helpful the relative strength in staples has been in identifying trends and turning points: [Read more…]