From the Desk of Kimmy Sokoloff
We have data coming out at 8:30 a.m. ET that could potentially move this market.
Not much is striking me today.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
We have data coming out at 8:30 a.m. ET that could potentially move this market.
Not much is striking me today.
by JC
The Dow Jones Industrial Average is the world’s most important stock market index.
While many think the “pros” use the S&P500 because they may be benchmarked to it, those “pros” are not your problem.
DON’T FIGHT PAPA DOW, is how I learned it.
If you get the Dow 30 right, you’ll get the S&P500 right.
And if you’re going to do a sum of the parts analysis, would you rather try to get the direction of 30 stocks right? Or 500?
With the S&P500 already hitting new 52-week highs, do you think the Dow is next?
They look the same don’t they? [Read more…]
by David
From the Desk of Kimmy Sokoloff
I said this morning that if we break the 440 level on $SPY we can see 438.
We hit 437, then we bounced.
We’ll see what tomorrow brings.
by David
From the Desk of Kimmy Sokoloff
$SPY is consolidating up at the 440 level. Should we break it, we can see 438.
The market is digesting the minutes from the June Fed meeting that were released yesterday, and the odds of a rate hike at the July 25-26 meeting have increased.
by JC
This is the video recording of our July 5th Monthly Charts Live Strategy Session
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.
Me and Steve Strazza are currently aboard an airplane to Singapore for the beginning of our 21-day trip throughout Southeast Asia.
We’re headed there to meet traders, chartists, and locals to learn how others approach risk.
And one thing that is on my mind is: “Where are we going to stay?”
This feels right as today’s trade of the day often answers this question for many travelers.
by Ian Culley
From the Desk of Ian Culley @IanCulley
First stop, Singapore!
Steve Strazza and Sean McLaughlin are headed east on a whirlwind tour of Asia.
I must admit, I’m a bit jealous. And I’m not the jealous type!
They’ll visit seven cities over the course of the next month, meeting traders and financial professionals from the tip of the Malay Peninsula all the way to Japan.
I can’t physically travel with them, but I can live vicariously through their stories and videos, and, of course, my charts… [Read more…]