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All Star Charts

Expert technical analysis of financial markets by JC Parets

Weekly Preview (08-10-2020)

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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 relative strength trends at play and give our outlook and some of the things we’re watching for in the week ahead.

This week, we’re going to highlight our US Index and Sector ETF tables and focus on the rotation we’re seeing into more offensive areas of US Equities. We’ll then tie this into what we’re seeing across the FICC universe.

[Read more…]

Rotation Rotation Rotation: Transports Edition

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The stocks in the Dow Jones Transportation Average are getting the bid that they needed for this overall market to continue its march higher. Going back and doing the work, it’s hard for stocks as a group to keep ripping without rotation into some of the underperforming areas. Transports were right near the top of our underperformer list for a long time.

This is no longer the case. We’ve already talked about how Transports were the best performermers in the world for the month of July. This weekend we also pointed to the change in trend relative to the S&P500.

Today, let’s look deeper into the components of the Dow Jones Transportation Average. Remember there are 20 of them and consist of Airlines, Rails, Trucks, Logistics etc. This chart plots the drawdown from 52week highs on the x-axis and the y-axis represents the performance since June 5th, which was the former highest weekly close for the index: [Read more…]

Louis’ Look (08-10-2020)

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From the desk of Louis Sykes @haumicharts

Welcome to the second edition of “Louis’ Look”, where I share the key lessons I’ve learnt over the past week through interning at All Star Charts. You can read the first post here.

As with any week working with this bunch, plenty was learnt, so let’s jump right into it.

[Read more…]

Podcast: The Writing Episode w/ Morgan Housel

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Today we have a special episode of the podcast. I think it’s important to take a step back from the markets and Technical Analysis sometimes, and talk about something that is universal to us all. For this episode I invited Morgan Housel to come and talk about the importance of writing. For those of you who have been following my work for a long time, you often hear me talk about the personal benefits of putting my ideas down on paper. Sure, people all over the world get insight into what our firm is thinking, they get steady idea flow from my blog, and in some lucky cases, people might even learn something. But the truth is, my writing is an incredibly selfish endeavor. It forces me to think through the important concepts. And as Morgan talks about in this episode, the inability to express my thoughts in written form probably means my idea is stupid to begin with. The easier it is to write about, the better it will usually be received by our audience.

Morgan Housel is definitely one of my favorite financial writers in the world today. I know a lot of smart people who would agree with that. Whether you’re a market participant or not, but especially if you are, I think writing consistently is one of the most valuable things you can do. Even if you don’t share it with the public, and just keep it to yourself, I encourage you to get into the habit of writing. Think about it, people were keeping a journal and writing their ideas down way before blogs existed. There’s a good reason for that.

On the flip side, when it comes to reading, Morgan also had a few thoughts he wanted to share with us. He is very much against the Trophy Reading and ripping through an ungodly number of books just for the sport of it. He’s gone down that rabbit hole before and learned that he’s better off reading just 1 book a month, taking his time, talking to smart people about it, and really digesting it. He made some really good points about this.

This was a really fun episode and one that I think is a great compliment to a lot of the other conversations we’ve been having with smart folks about the markets. Enjoy! [Read more…]

Stocks Are In An Uptrend

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I don’t know if I’ve made myself clear enough. It’s getting pretty obnoxious at this point isn’t it?

We talk about this internally sometimes (ahem strazza), that we sound like a broken record.

My response is that we should be aware of our own behavior. The simple fact that we are recognizing, that yes, we are indeed being super annoying and just saying the same things over and over again, is information. It’s really important to identify that.

Why? What does this mean? To me, it means that what’s been working keeps working. And what needed to start working for those things to continue are working now too.

Exhibit A has to be the Dow Jones Transportation Average breaking out to new highs BEFORE the Dow Jones Industrial Average. Wait, What???? New phone who dis?  [Read more…]

Under The Hood (08-07-2020)

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From the desk of Steve Strazza @Sstrazza.

Welcome to this week’s edition of “Under The Hood.” You can read more about the column here.

What we do is analyze the most popular Robinhood stocks over the trailing week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

This was another interesting week as the market continues to grind higher with zero regard for whatever bad news is thrown at it. With the S&P 500 knocking on the door of new all-time highs, let’s take a look at what Robinhood investors were buying this week.

[Read more…]

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