From the Desk of Ian Culley @IanCulley
Gold is up for the sixth day in a row – and it looks like this week’s breakout might be the real deal.
If it is — and gold continues to rip — it’s only a matter of time before copper breaks out too.
Expert technical analysis of financial markets by JC Parets
by Ian Culley
From the Desk of Ian Culley @IanCulley
Gold is up for the sixth day in a row – and it looks like this week’s breakout might be the real deal.
If it is — and gold continues to rip — it’s only a matter of time before copper breaks out too.
From the desk of Steve Strazza @Sstrazza
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 it out.
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 Ian Culley
Today’s trade is a bet on the speculative juices continuing to flow through the summer. This stock has been performing fantastically since the November stock market explosion, but if we’re a believer that this stock is simply tracing out the right side of a larger base, then we’ve still got plenty of upside to go.
Here’s a chart of DoorDash $DASH: [Read more…]
by JC
Are you ready for this?
We’ve seen it before.
Look at this huge base that Bitcoin has put together over the past few years.
The way I learned it many years ago was, “The Bigger The Base, The Higher In Space”.
This saying goes back to before the 1950s, according to the late great Alan Shaw.
What this price behavior displays is a long period of accumulation by large institutions.
This process of demand absorbing supply takes time.
The longer it takes, the more explosive the eventual resolution becomes.
Here’s what Bitcoin looks like right now: [Read more…]
From the Desk of Steve Strazza @Sstrazza
We held our March Monthly Strategy Session Monday night. Premium Members can access and rewatch it here.
Non-members can get a quick recap of the call simply by reading this post each month.
By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.
With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.
From the Desk of Steve Strazza @Sstrazza
We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to our latest project, it couldn’t be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to The Junior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That’s good enough for us.
The bottom line is it is a bull market. We want as many vehicles and options to express our bullish thesis as possible. This is a good way to do just that.
Let’s dive right in and check out what these future big boys are up to.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Stocks only go up.
Bitcoin is screaming its way back to the former all-time highs. Crude is printing multi-month highs. Even gold is breaking out to new all-time highs after going nowhere for years.
We’re entering the Davey Day Trader part of the cycle — green hammer and all.
Everything is trending higher. Everything except the dollar, that is…