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All Star Charts

Expert technical analysis of financial markets by JC Parets

All Star Interviews Season 2, Episode 3: Dan Russo, Chief Market Strategist at Chaikin Analytics

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Sponsored by Investor’s Business Daily – I’ve known Dan Russo for a long time and he always brings amazing insights and trade ideas. He’s experienced, knows the markets and most importantly, he puts in the work. I have a tremendous amount of respect for him and his technical analysis. It was a real treat picking his brain and discussing what he is currently seeing in the market. In this episode, we talk about U.S. Stocks and the sector rotation that is taking place. He shares his thoughts about Healthcare stocks, Consumer Discretionary and life. I really enjoyed this conversation! [Read more…]

[Premium] Precious Metals Update

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Friday we wrote about the US Dollar breaking out to 1-year highs and why it’s one of the most important charts we’re watching from an intermarket perspective. With that said, we always look at both sides of the story, and while the US Dollar breakout certainly adds to the bear case for Precious Metals, I want to use this post to explore all of the current bullish and bearish characteristics of the space.

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[Options Premium] We’re Bullish on Berkshire

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During our monthly All Star Options conference call for members, JC & I laid out our bullish case for Berkshire Hathaway. These days, in spite of the diversity of industries that fall under the Berkshire umbrella, the tracking stock $BRK/B trades much like a financial.

Additionally, Berkshire exhibits high correlation to the S&P 500, and with the rotation we’re seeing into financials it makes sense to be long $BRK/B while we’re still incredibly bullish on the overall market. And of course, the technicals we’re watching all point to higher prices. [Read more…]

[Premium] Risk Management Update For U.S. Stocks

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It’s not about being right, it’s about making money. There’s a difference and I think that gets forgotten too often. We want to position ourselves where we have the highest probabilities for success as well as where the risk vs reward is skewed in our favor. The goal is not to be right every time. The goal is to be profitable. That’s why we’re always thinking worst case scenario: always a risk level and always a target.

Today I want to focus in on what we’re seeing in the S&P500 because I think that from a risk management standpoint, this 2780-2800 level is a big one today from a structural perspective. Until now, we’ve used 7000 in the Nasdaq100 and 2650 in the S&P500 as our lines in the sand. We’ve only wanted to be long if we were above those levels and that has worked out very well. Moving forward, I’ve identified some higher levels that we need to monitor.

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Technical Analysis Update On The IBD50 Index

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As part of our ongoing partnership with Investor’s Business Daily we have added all of the IBD50 components to our equity research coverage. We are updating our Chartbook on a weekly basis and members of Allstarcharts have access to that workbook here.

Today, I wanted to discuss what we’re seeing from this group to identify the overall trend for U.S. stocks and also to find trading ideas to profit from that directional move.  [Read more…]

[Chart of The Week] Dollar Index Makes 1-Year Closing Highs

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From the desk of Tom Bruni @BruniCharting

I know the US Dollar isn’t as sexy as Tesla’s Elon Musk tweeting market moving information every few hours or Apple hitting a trillion dollar market-cap, but I have been waiting all summer for a resolution of this range in the Dollar Index and it looks like we might be finally getting it. Whether this move is successful and the Dollar continues higher, or it’s a failed breakout that sends the Euro ripping, there will be significant cross-asset implications that are worth thinking about as this move develops.

[Read more…]

[Options] The Right Stock, in the Right Sector, in the Right Market Environment

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Eight months of sideways consolidation and an upcoming earnings event next week are setting the table for the potential of significant upside in shares of Nvidia $NVDA.

The semiconductor space is a leading indicator for the technology sector which has been outperforming in both an absolute sense as well as relative to the rest of the stock market. We view $NVDA as a leader among semiconductor stocks and it is only natural that this name should resume it’s trek higher with the market, which we’re still incredibly bullish on.

We’re going to make a bet that next week’s earnings is the catalyst to get $NVDA moving again. [Read more…]

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