Watching some of these cryptos, you wouldn't even know Bitcoin just got a 15% haircut after $4B worth of positions were steamrolled.
Take a look at Solana...
We thought that this extension target, particularly in the face of the recent action, would act as a logical level to consolidate these gains. But, buyers have continued their charge.
When the market completely ignores these extensions, that's information...
The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
"I like a $BSX Nov/Mar 50-strike Call Calendar spread for a $1.15 debit or cheaper. This means I’ll be long the March 50 calls and short an equal amount of November 50 calls for a net debit which represents the most I can lose in this trade if it short-circuits on us."
To learn more about the trade and the thinking behind it, click below to watch a replay of the Live Stream.
Key Takeaway: Risks remain elevated from a sentiment perspective. The bulls continue to hold court as bears are relatively absent despite their rise in recent weeks. Though there are signs that the extended reign in optimism may face a new challenge. Earnings revisions have ceased to rise, taking with it a tailwind that has accompanied the bulls for over a year. Without that tailwind, the possibility of a larger sentiment response to downside pressure on stocks increases. Lower prices have a tendency to beget a pessimistic outlook that in turn begets lower prices. This negative feedback loop could fuel a more complete unwind in sentiment than has been seen to date.
From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley
We held our September Monthly Strategy Session last 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.
JC & Strazza were riffing this morning on the strength in the Medical Equipment space and so we started brainstorming on some names to play since we expect the strength to continue.
There were a few names bandied about, but the chart and setup that most caught my attention was Boston Scientific Corp $BSX.
What I liked most was the recent consolidation which can act as a solid base of support for a move higher -- which would be all-time highs breaking out of a nearly 20 year base! As JC likes to say: "The bigger the base, the higher in space!" Seems this opportunity has a good shot at that:
From the desk of Steven Strazza @Sstrazza and Ian Culley @IanCulley
In last week’s Currency Report, we highlighted the NZD/USD cross as a means to express our bearish US dollar thesis.
The setup was too good to resist taking a swing at following the recently failed breakdown. And so far, we’ve been rewarded for it. That’s information.
But it’s not the only cross that continues to trend well against the US Dollar. We see it all over, and it’s only reinforcing our bearish thesis.
As such, we want to look for more opportunities to take advantage of this developing theme.
In this week’s post, we’re going to do just that.
Let’s drill into our forex universe now and identify some of our favorite risk/reward setups we want to bet on to capture profits from a weakening US dollar.
As the third quarter winds to a close, the bulls just took the lead for the first time since early in the 1st half.
Everything is clicking for them and they're in control of the game right now. While it's been a nice comeback, it's still just 52 to 48, so they have plenty of work to do.
I'm not talking about basketball. Not the Chicago bulls. I'm referring to stock market bulls and the current score on our risk checklist.
It's currently at its highest reading since we started publishing it back in June, so we'd be remiss not to write about it.
It's been a great roadmap for us in recent months so let's have a quick look at what it's saying now as well as some of the more recent developments that have taken place.
