From the Desk of Kimmy Sokoloff
Futures are up a tad this morning.
What I’m looking for is $SPY to push past 386 and head to 387.80.
Support is at 382.70.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Futures are up a tad this morning.
What I’m looking for is $SPY to push past 386 and head to 387.80.
Support is at 382.70.
by Ian Culley
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
Overall it was a decent day for the indices, considering we had data out at 10 a.m. ET and then FOMC minutes at 2 p.m.
I’d still like to see the indices trend higher. Specifically, I’d like to see $SPY 387.80.
Happy New Year everyone. How are you playing it?
This morning, our analyst team was bouncing ideas around when I posed the group this question:
“It’s the beginning of a new year. Do we want to continue buying strength (as we have been)? Or do we want to buy some well-selected dips on stocks in sectors we like?”
In other words, what’s our appetite?
The prevailing sentiment that won out was that we have been buying strength — and that has worked well in some areas, particularly homebuilders, Chinese stocks, and metals stocks. But the reward-to-risk opportunities right now may be more favorable in the “buy-the-dip” camp.
So with this in mind, let’s take a look at a stock in the semiconductors sector that has our attention. [Read more…]
by JC
Doing some basic math, the odds continue to favor a strong year for stocks in 2023.
There are some people out there who think the Nasdaq is the stock market. There are others who “only buy growth stocks”.
I don’t know what kind of masochist you need to be to think that way, but both of those are very foolish approaches to life.
The Nasdaq is full of growth stocks. And growth stocks historically underperform and make little progress when interest rates are rising. I’m not sure if you heard, but interest rates have been rising!
Since the Stock Market bottomed in June, the majority of stocks and sectors are up and to the right. It’s only the biggest losers that are down, and there aren’t that many of them. It’s really just those nasdaq / growthy stocks that the masochists are focused on.
From a seasonal perspective, Pre-election years are historically some of the most bullish years we have in the market. Here’s what the 4-year cycle looks like as we head into 2023: [Read more…]
by David
From the Desk of Kimmy Sokoloff
S&P futures are indicating at the 3,850 mark.
We need to maintain that level in order for this index to head higher.
by JC
This is the video recording of our January 3rd Monthly Charts Live Strategy Session
by Ian Culley
It’s the 2023 inaugural weekly currency edition of What the FICC?
And we’re kicking it off with the US Dollar Index $DXY!
Check it out!