It was a mixed day overall, with Big Tech lagging.
$IWM was the clear leader and has potential to 190.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a mixed day overall, with Big Tech lagging.
$IWM was the clear leader and has potential to 190.
by David
From the Desk of Kimmy Sokoloff
We have a big week ahead of us, with quite a few Fed speakers and CPI.
$SPY and $QQQ reversed lower on Friday, and the oil services sector was on fire.
Question is, will it continue. I’ll be watching some of these names.
[9/7: stop updated to 52. We already sold half our calls for profits at our target as mentioned below, so we’re a guaranteed winner here!]
I’m traveling throughout Southeast Asia — to eight different countries — with my All Star Charts analyst Steve Strazza, giving presentations at local Chartered Market Technicians (CMT) Association events, meeting local traders, enjoying native cuisines, and just marveling about the similarities we traders from different corners of the world all share.
So for the rest of the month of July, I’m going to cut the preamble and get right to the action for you guys.
As such, here’s the trade I’ll be putting on today: [Read more…]
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
by David
From the Desk of Kimmy Sokoloff
The market ended the week on an up note.
Overall, the indices traded higher and names lifted.
We held our July Monthly Strategy Session on Wednesday night. ASC Premium Members can click here to review the recording and the chartbook.
Non-members can get a quick recap of the call simply by reading this post each month.
By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends.
This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.
With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more — but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to our latest project, it couldn’t be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to The Junior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That’s good enough for us.
The bottom line is it is a bull market. We want as many vehicles and options to express our bullish thesis as possible. This is a good way to do just that.
Let’s dive right in and check out what these future big boys are up to.