From the Desk of Kimmy Sokoloff
We’ve seen a big gap up in the futures this morning, and we’re right at resistance at $SPX 3,800. The next level above is 3,804 to 3,811.
$SPY resistance is at 379.60. Support is at 376.35, then 374.20.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
We’ve seen a big gap up in the futures this morning, and we’re right at resistance at $SPX 3,800. The next level above is 3,804 to 3,811.
$SPY resistance is at 379.60. Support is at 376.35, then 374.20.
by JC
The only way anyone gets paid around here is to sell things at higher prices than where we buy them.
And not necessarily in that order.
Do you have a better way?
I’ve been doing this for 20 years and I have never seen any other way to profit.
You might enjoy pretending to know “why” a stock or group of stocks may be moving. But the market doesn’t pay you to pretend to know why.
The market only pays us when we sell things at higher prices than where we buy them.
And this is all so funny to me, because I constantly see so many people focusing all their attention on everything BUT price.
That never made any sense to me. [Read more…]
by JC
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 Ian Culley
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…]
by Ian Culley
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.
by David
From the Desk of Kimmy Sokoloff
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.
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.
by JC
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…]