It was a decent morning for us, a few decent trades to send us off into the holiday!!
The market is trying to breakout, and hopefully we get follow-through on Friday.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a decent morning for us, a few decent trades to send us off into the holiday!!
The market is trying to breakout, and hopefully we get follow-through on Friday.
After we got past sharing each others’ Thanksgiving dinner menus, wine pairings, and recipe swaps, the All Star Charts gang got back to business this morning hunting for trade ideas.
We arrived at today’s idea in a roundabout way:
“Discretionary stocks have been the ‘least shitty’ performers as of late.”
“We’re seeing relative strength in ‘da homies. [Homebuilders]”
“In that sector, Lennar $LEN is showing the best relative strength relative to the others.”
…and that is a taste of how the Thanksgiving sausage is made.
So let’s dig into some visuals to highlight what we’re seeing. [Read more…]
by David
From the Desk of Kimmy Sokoloff
First and foremost, a very Happy Thanksgiving to all.
The bull flag pattern I’ve spoken about is in the process of breaking out. If this continues, this market can head toward $SPX 4,020.
by Ian Culley
It’s the weekly currency edition of What the FICC?!?!
Based on the potential trend reversal underway in the dollar, our bias for the USD has flipped bearish. That means we’re focusing on short USD trade setups.
Today, we’re selling the dollar against the Mexican peso:
Click here to read the post.
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by Ian Culley
From the Desk of Ian Culley @IanCulley
It’s time to short the USD.
Based on the weight of the evidence, our bias for the US dollar has flipped bearish.
Our first shot at betting on a weaker dollar was successful, as the EUR/USD hit its target earlier in the month. That’s encouraging!
But it’s important to note most dollar pairs are running into logical levels of support or resistance.
Many of these charts are messy at best.
Except the Mexican peso.
In fact, no currency has stood its ground during the dollar’s parabolic advance like MXN.
by David
From the Desk of Kimmy Sokoloff
The market chopped around the fist half of the day and rallied into the close.
It’s still coiling for a bigger move, I’d like to think.
[Read more…]
by JC
This doesn’t have to be complicated.
Is the list of stocks and sectors in uptrends getting longer or is it getting shorter?
Are we seeing more stocks breaking down to new lows, or fewer?
If you can count, then you know the answer.
The question is, are you even willing to count? [Read more…]
by David
From the Desk of Kimmy Sokoloff
To me, this market is coiling for the next big move.
As I’ve mentioned, if we continue to hold $SPX 3,934, there’s potential up to SPX 4,020. Until then, this market is very choppy.