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.
Metals Are Making All the Right Moves
From the Desk of Ian Culley @IanCulley
Metals have been one of the weakest areas of the market this year.
It doesn’t matter if we’re talking about the materials sector, commodity space, base and industrial metals, or gold. These assets have carried nothing but downside risk.
But mix in a little dollar weakness, and we see an impressive display of strength. Metals are finally looking like they have something to prove.
Yes, it’s only one day of action. But it’s a day worth noting… [Read more…]
The Hall of Famers (11-04-2022)
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check out the International Hall of Famers.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.
Swing Trader Pro: Afternoon Briefing (11-04-2022)
We saw a lot of movement in the indices today.
The $SPX hit resistance near the 50-day moving average around 3,800 and reversed lower but then rallied into the close.
[Options Premium] Our Old Pal Hal
We can’t argue with price.
And price continues to tell us the Energy bull market still has legs.
Today’s trade is a case in point where trading action today announced a declaration that an old-school oil services name wants to continue climbing higher.
Rule #6: Don’t fight the FED (less valid than #1).
The lengths that grown adults will go to justify their reckless behavior continues impress.
One of the classic misnomers that you’ll hear out there, especially these days, is: “Don’t Fight The Fed”
How many times do you hear these fools say it?
They think they sound smart. They think they’re clever.
They pretend to be historians, but all they’re proving is that they’re lazy, wrong and enjoy embarrassing themselves in front of everyone.
If you’re going to quote the great Marty Zweig, the least you can do is quote him correctly. [Read more…]
A Relative Bid Goes a Long Way
From the Desk of Ian Culley @Ianculley
Bonds are an absolute dumpster fire.
Everyone knows fixed income is having one of its worst years on record. And, from the looks of it, we’ll all be dragging our Christmas trees to the curb before US Treasuries stage a miraculous comeback.
Don’t get me wrong. I believe these safe haven assets will dig in and catch higher – eventually. There’s just no sign of it happening any time soon.
Instead of focusing on the disappointing performance of bonds, let’s turn our attention to its relative trends against other major asset classes – stocks and commodities. [Read more…]
Swing Trader Pro: Morning Briefing (11-04-2022)
From the Desk of Kimmy Sokoloff
We have big data out at 8:30 a.m. ET this morning.
As I write, the futures are up. Let’s hope they stay that way.
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