What a wacky, whippy market.
We’re stuck under resistance on $SPY at 447.14 or so.
We still have headwinds, with August PPI tomorrow and the Fed next week.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
What a wacky, whippy market.
We’re stuck under resistance on $SPY at 447.14 or so.
We still have headwinds, with August PPI tomorrow and the Fed next week.
From the Desk of Steve Strazza @Sstrazza
Welcome to The 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach.
It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
We have August CPI data coming out at 8:30 a.m. ET.
I’ll look for ideas after the release, as I expect volatility.
by JC
These are the registration details for our LIVE Mid-month Conference Call for Premium Members of All Star Charts.
Our Live Call will be held on Monday September 18th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Here are the details for Monday night: [Read more…]
by David
From the Desk of Kimmy Sokoloff
The market is waiting for August CPI data on Wednesday morning.
It felt like we were at a standstill.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Equities like a deadstick dollar.
But stocks can’t always get what they want – or “like.”
A swift 5 percent gain in the US Dollar Index $DXY was not on the S&P 500’s wish list.
Yet that’s what the dollar served up following its mid-July failed breakdown.
Unsurprisingly, stocks have struggled since, peaking less than two weeks after the dollar posted its year-to-date low.
The DXY is now challenging a critical overhead supply level as dollar bulls have once again lowered their horns.
But will they finally hook ’em by the end of the week?
by David
From the Desk of Kimmy Sokoloff
Overall, it was nice action in the markets yesterday.
We still have a gap on $SPY at 449.17.
From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts
This is one of our favorite bottom-up scans: Follow the Flow.
In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.
We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.
Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.
We also weed out hedging activity and ensure there are no offsetting trades that either neutralize or cap the risk on these unusual options trades.
What remains is a list of stocks that large financial institutions are putting big money behind.
And they’re doing so for one reason only: because they think the stock is about to move in their direction and make them a pretty penny.
Then we flip through our list of stocks flashing unusual activity and pick the best setups using many of the same technical filters we do for our other scans.
And, just like that, we’ll follow the money flow and fatten our own pockets along with some of the world’s most powerful financial institutions.