From the Desk of Kimmy Sokoloff

We have the Consumer Price Index data for September coming out on Thursday morning, and we have more Fed speakers this week as as well. Expect more tough talk about inflation.

Should the $SPY break down below 360.94, we can potentially head to the lows of 357.04.

I'm monitoring the $QQQ as well to see if it touches the lows at 267.01.

The most significant insider activity on today’s list is a 13G filed by Baker Bros Advisors LP.

The hedge fund revealed an increase in ownership from 7.7% to 10.9% in the small-cap biotechnology company Rhythm Pharmaceuticals $RYTM.

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.

A funny thing tends to happen near the end of important trends.

The journalists finally catch on.

It's never at the beginning of trends. That's not when they get excited.

It's when everyone has finally agreed that a trend is in place, which by definition, is late in the cycle.

You see, the journalist community does an amazing job of aggregating consumer & investor sentiment. I find they are the very best at this.

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.

Is it a bear market or a bull market, JC?

Are you bullish or bearish, JC?

These are the wrong questions to ask, in my opinion.

They're the ones I get most often, but I think it defeats the point of what we're trying to do here.

The question I find myself asking is whether we should be spending more of our time looking for stocks to buy, spending more of our time looking for stocks to sell, or should we be on vacation doing nothing in this market?

Those are 3 real options we have as investors.

For me, I think it's worth spending our time looking for stocks to buy.

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. You can 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.

Here’s this week’s list:

Click table to enlarge view

We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month. ...

From the Desk of Ian Culley @IanCulley

I love it when a pattern carries both bullish and bearish implications. It could break out or break down. Either direction works for me.

That’s the beauty of the setup. 

For traders, the directional move doesn't matter. We can prepare for both outcomes. And, lucky for us, sugar futures look ready to swing either way.

Check out the weekly continuation chart of sugar:

Sugar posted a big base breakout followed by a year-long consolidation. This chart looks similar to gasoline, crude oil, and copper – which have all broken down to retest their respective 2018 highs.

It’s reasonable to imagine sugar futures do the same. But we have to see the move before we can take action.

Here’s a daily chart of the most actively traded contract (March 2023):

...

From the Desk of Kimmy Sokoloff

Economic data came out this morning, which, in reality, wasn't bad. But the S&P 500 dropped 3% at its low.

As I mentioned this morning, to me the issue is oil up, bonds down posing the biggest risk to the overall market.

From the Desk of Willie Delwiche.

Apple Floats, Small-Caps Skid

The Chart: 

Many areas of the stock market have undercut their June lows. The largest company (Apple) and an ETF of small-cap stocks (IWM) stand out as exceptions. When we look over 3+ years (rather than just 3+ months) we see that small stocks are back to pre-COVID levels, while Apple has been consolidating its gains.

Why It Matters: 

The post-COVID speculative bubble in small-caps has been unwound. For Apple, the work seems hardly to have begun. Apple’s resiliency could become a liability if stocks take another leg lower and investors look again for safe havens to sell. As it stands now, Apple  is larger than 5 entire sectors in the S&P 500. Bear markets don’t usually leave anything unscathed.

We've adjusted a position in the Paid-to-Play portfolio today:

This is the video recording of our October 7, 2022, All Star Charts Crypto Weekly Strategy Session.