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All Star Charts

Expert technical analysis of financial markets by JC Parets

Is Alt Season Upon Us?

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From the desk of Steve Strazza @sstrazza and Louis Sykes @haumicharts

Are we finally entering the long-awaited alt-season?

We’re seeing incredibly healthy rotation within the Cryptocurrency space, which we can only interpret as support for higher prices for this group of digital assets moving forward.

We’ve been bullish on Bitcoin $BTC and crypto since last summer when BTC was near 10,000.

Here’s a post in October where JC outlined that the path of least resistance was higher in BTC, and another in December where we outlined a target, which was hit in a matter of days. Our current target for the Crypto leader is 70,000.

The price action is clear: Crypto continues to benefit from a well-established uptrend.

Our main focus today is the broadening participation of many Altcoins (lingo for any Cryptocurrency not named Bitcoin).

Several Altcoins are now breaking higher along with Bitcoin. Not only is this evidence of bullish risk-appetite in the Crypto complex, it also expands our options in taking advantage and profiting from this theme.

[Read more…]

RPP Report: Review. Preview. Profit. (02-15-2021)

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From the desk of Steve Strazza @sstrazza

At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the absolute and relative trends at play and preview some of the things we’re watching to profit in the weeks and months ahead.

We continue to harp on the risk-on themes that support our bullish macro thesis.

Rotation down the market-cap scale, commodity strength, and defensive alternatives making new relative lows have been some major themes we continue to see play out.

As participation continues to expand in both the US and abroad, we’re being given more and more avenues to position ourselves in order to profit in the current environment.

While Tech and Growth still remain the secular leaders, even the perennial laggards such as Financials and Energy are offering us favorable opportunities from the long side these days.

Bulls are flushed with options to make money in this market, while the list of talking points continues to dwindle for bears.

In what’s become a very favorable trading environment, we want to focus as much on the risk profile of the bets we employ capital on as anything else. Identifying and leaning on highly skewed risk/reward setups is the best way to put our money to use right now.

[Read more…]

[Podcast] Sector Rotation w/ Jonathan Krinsky

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This week on the podcast, Jonathan Krinsky joins me for a chat about Sector Rotation. While the Mega-cap names like Apple, Google, Facebook, Amazon and Microsoft grinded sideways, or even down, since August, the Small-caps, Mid-caps and Micro-cap names have been the leaders. What happens if the Mega-caps break out of these bases to new all-time highs? Does the sector rotation continue? Or do we then rotate into the more defensive areas like Staples, Utilities and REITs, which currently keep making new relative lows?

Where does the US Dollar fit into all this? Will a Dollar rally bust the party and end the rotation into International equities and Commodities? We discussed all of this and so much more in a very short period of time. Jonathan Krinsky is the Chief Market Technician at Bay Crest Partners and puts out research for many long/short equity fund managers. He’s a CMT like me and we’ve known each other for many years. His perspective on markets always adds value.

This was fun. Enjoy!

[Read more…]

RPP Report: Review. Preview. Profit. (01-25-2021)

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From the desk of Steve Strazza @sstrazza and Louis Sykes @haumicharts

At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the absolute and relative trends at play and preview some of the things we’re watching in order to profit in the weeks and months ahead.

As we discussed in last week’s report, bears have a lot of work cut out for them.

With all this rotation into offensive groups and cyclical areas of the market, they are really running out of talking points. We literally can’t find a meaningful group of stocks in the US or even abroad that we would want to short at this point.

This is excellent information as it’s not something we can say very often… and it’s bullish, just to be clear.

The move higher in equities is being supported by significant cap-rotation at the index level as well as broad participation among sectors, and most recently, even international stock markets.

Basically, it’s hard to find stocks that aren’t in uptrends… anywhere.

[Read more…]

[Premium] Q1 2021 Playbook

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This is our ASC Research Q1 2021 Playbook.

The first section dives deep into the US Stock Market and Market breadth, then we discuss the International Markets and specific Factors around the world. Next we go into U.S. Sectors and the best looking Industry Groups. In the second half of the report, we dive into the FICC space (Fixed Income, Commodities & Currencies) and their Intermarket Relationships. Finally we finish up with Cryptos, Options and overall Market Sentiment.

You can skip right to the trade ideas here if you’d like, or give the full report a read!
[Read more…]

It’s Just A Trade: Letters & Math

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I took a few days off over the holidays. I couldn’t tell you the last time I went that long without a chart or a tweet. It felt good.

But you know what felt even better? Getting back to those charts and digging in on what’s been going on around the world. It’s not work for me. I mean it is, technically. But as you probably already figured out, this is something I really enjoy doing.

So what stood out the most upon my return?

I think it’s got to be the victory laps from the bitcoiners on tilt. They’re acting like they’ve never gotten a trade right in their lives. And that’s dangerous.

Sure, we’re happy bitcoin is doing well. It’s already up 35-40% since our latest entry point a few weeks ago. That’s great. And remember, this is after it doubled immediately after our last buy point this summer.

So no complaints here. But we don’t have to make a big deal about it. This is just a trade. It’s not a religion.

The people who are long bitcoin at all times are just as dangerous as stock market permabears. Also See: Are You A Permabear? 12 Questions To Ask Yourself

You can’t have a real conversation with these people. For them, the bitcoin “lifestyle” is more important than making money. They’d rather ride this all the way down to zero than admit that they’re wrong. It’s become theology for them. [Read more…]

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