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.
[Video] Why Does Fibonacci Work?
You guys know that I use Fibonacci levels to help us identify targets and manage risk.
And you’ve all seen it work, with your own eyes, for many years. I have too, of course, as one of the gang here calculating these levels every day.
But I’ve never quite understood WHY it works. How come these numbers keep showing up all over Nature. Why do the prices of stocks and other assets keep respecting these levels?
When I get asked, I don’t have an answer.
But if there’s anyone I’m going to ask, it’s gonna be Bart. So that’s what I did.
And figured why not share this with all of you?
This was a lot of fun!
Commodities Weekly: Softs Look Sweet Like Sugar
From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley
Rotation is the lifeblood of any bull market.
If a sustained uptrend is going to persist, then we need to have broadening participation… or at least some healthy rotation.
And that’s exactly what we’re seeing within commodities right now.
As the energy group chops sideways and base metals hang tough, we’re starting to see signs of strength from one of the worst-performing areas over the past year.
Softs.
Like livestock last week, it appears this group of commodities are ready to play catch-up as they turn the corner and head higher.
Considering the fact that other groups are simply consolidating or correcting through time instead of price, we’d argue that this looks more like an expansion in participation rather than rotation. But it’s really just semantics. It’s all bullish at the end of the day. Let’s dive in.
Intermarket Insights: Reviewing Risk Appetite
From the desk of Steven Strazza @Sstrazza and Grant Hawkridge @granthawkridge
In today’s post, we’ll discuss some of our favorite and most important intermarket ratios and see what they’re suggesting for markets and risk appetite around the globe.
One thing we found interesting when digging through these charts is that many of them look a lot like stocks do right now.
Sideways. Range-bound. Messy. But, within the context of underlying uptrends.
So these are basically just continuation patterns on shorter timeframes.
But, after consolidating for months and even quarters now, we are beginning to see some resolve higher… kind of like we’re seeing from stocks on an absolute basis.
Coincidence? Probably not.
We think this makes a lot of sense and bodes well for risk assets. Let’s take a look at some of these charts now.
[Options Premium] While our winner pauses…
JC has a short post up today about “The Oil Dilemma.” He and I talked about this situation yesterday and I like the way it is setting up for a little premium collection to complement an existing position we have on the books. [Read more…]
Financials In Focus
From the desk of Steve Strazza @Sstrazza
Financials have made quite the comeback in recent weeks, with the Large-Cap Financial SPDR $XLF trading back to record highs as bank stocks around the world have fought to repair some of the damage endured during Q2.
We even saw regional banks break back above a major level of interest last week. The importance of this can’t be overstated.
But that’s just the US. What are financials doing in the rest of the world? Are they confirming this strength we’re seeing from the US?
In this post, we’ll provide an in-depth rundown of what’s going on with this critically important sector–not just in the US, but around the globe.
The Oil Dilemma
How’s the market done in 2021?
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