This is the video recording of our May 3, 2021 Monthly Charts Live Strategy Session
Why is JC a Crypto Guy Now?
RPP Report: Review. Preview. Profit. (04-26-2021)
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.
The weight of the evidence still suggests it’s prudent to be a buyer, not a seller, of risk assets for more meaningful time horizons.
Shorter-term, the market looks increasingly messy. For the first time in over a year, defensive assets are beginning to stabilize at logical levels of support, while stocks and major risk groups achieve our upside targets. Even a handful of some key Intermarket ratios are potentially diverging from the broader averages.
The macro backdrop definitely leans that this is just a sideways consolidation in an ongoing uptrend.
Let’s not forget that the S&P 500 has just recorded its greatest 52-week gain since the late 1940s, so some digestion is perfectly healthy and deserved!
RPP Report: Review. Preview. Profit. (04-19-2021)
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.
The same themes that we’ve been pounding the table on more or less continue to drive primary trends.
In recent weeks, we’ve seen some rotation back into Large and Mega-Caps, which has propelled the major indices to new highs, while SMIDs are still resiliently consolidating. While the list of negative data points has grown, it’s still not close to anything that warrants concern.
Developed Markets, particularly European equities, are resolving higher across the board — a move confirmed by strong breadth and bullish internals. In short, we continue to see strong equity market participation around the Globe.
We’re also seeing signs of another leg higher for the Commodity complex as more positive economic data pours in.
Ultimately, risk markets remain in a healthy state right now.
Ethereum Breaks Out To New All-time Highs
Rare Diamond Reversal Pattern?
[Podcast] The Bitcoin Episode w/ Greg King, Founder & CEO of OSPREY Funds
Bitcoin is a market that we are very fond of here at Allstarcharts. You’ve heard me say it plenty: it’s a beautiful case study for Technical Analysis.
It’s not a company. There are no fundamentals.
And you guys have watched us analyze the behavior of Bitcoin and other Crypto Currencies since early 2016.
It’s been pretty amazing to watch and participate in a new market like this. They were telling us we were late to the party back then. They’re still saying the same thing now.
My bet is crypto is here to stay. So who better to have a conversation with than Greg King, Founder & CEO of OSPREY Funds, the newest vehicle to give investors access to this market.
This is probably one of the most fun conversations I’ve had in a long time. For me, it’s a price behavior thing, as you’re all well aware. I’m not the expert in the technology and the regulatory mechanics behind these things.
That’s why I like keeping smart folks like Greg King around! I’m also a founding investor in OSPREY Funds, so I’m fully on board with their vision. After this conversation, as you’ll see, I’m much more bullish crypto than I was before.
This was so awesome.
Enjoy!
Is Alt Season Upon Us?
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.
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