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All Star Options

[Options Premium] An Infotech Name With a Side of Curry

November 29, 2021

JC and I traveled to India together a couple years back to meet with Indian prop and options traders and to lead discussions at a few events. It was an amazing experience to be able to view risk through the eyes of traders that come from very different backgrounds than our own.

It should go without saying that we indulged (perhaps overindulged?) in the local cuisine. To be honest, we ate like Kings and it was wonderful. Everything we ate was fantastic and I want to go back as soon as possible. It was such a great time with great people.

So, when perusing the latest crop of new ideas cranked out by ASC team, one name with an Indian flavor caught my attention.

[PLUS] Weekly Momentum Report & Takeaways

November 29, 2021

From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

  • This week, our macro universe was in the red as 81% of our list closed lower with a median return of -2.28%.
  • The Volatility Index $VIX was a massive winner, closing out the week with more than a 59% gain.
  • The biggest loser again was Oil $CL, with a massive weekly loss of -10.45%.
  • There was a 13% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 49%.
  • 62% of our list made...
All Star Charts Crypto

Weighing the Risks and the Rewards

November 29, 2021

Bitcoin has been dragged down by legacy market volatility, even as investors continue a strong regime of buying.

The crypto market isn't fully out of the woods as far as volatility is concerned, and there are risks to be mindful of in the coming days and weeks.

But the picture remains positive for Bitcoin and the overall crypto landscape through the end of the year and into 2022.

 

"It's Going to be a Big Week"

November 29, 2021

Everyone saw it.

Everyone was talking about it.

It was the day Small-caps finally broke out of their almost year-long base.

This was finally it!

But then last week we learned that it wasn't.

Here's what that failed breakout looks like.

[Premium] Trade Of The Week

November 29, 2021

This week we’re looking at a long setup in the Services sector. While there is weakness in the market, we're observing pockets of strength as well.

Let's take a look at what we have today!

The Chart Heard Around The World

November 28, 2021

This is the new kid that everyone is talking about.

Small-caps tried to break out this month, after going nowhere since February.

But that attempt failed this week.

And now Small-caps are back in the penalty box:

All Star Charts Premium

Saturday Morning Chartoons: Charts of the Week

November 27, 2021

It's Saturday Morning Chartoons time. 

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.

You can find the whole list of trades here.

Below you'll find the full PDF of this week's charts:

 

 

The Length and Breadth Of It

November 27, 2021

The market has been in a corrective mode for a little over a month. While this correction has been gaining some momentum, we took a look at the breadth internals of the market at this stage to dig a little deeper.

One important factor when the market was making new highs, was a lack of breadth expansion.

Now the important factor when the market is making lows is breadth expansion.

All Star Charts Premium

International Hall Of Famers (11-26-2021)

November 26, 2021

From the desk of Steve Strazza @Sstrazza

Our International Hall Of Famers list is composed of the largest US-listed international stocks, or ADRs. We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut. 

These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.

It’s got all the big names and more--but only those that are based outside the US. You can find all the largest US stocks on our original Hall Of Famers list.

The beauty of these scans is really in their simplicity.

We take the 50 largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.

Based on the market environment, we can also flip the scan on its head and filter for weakness. Due to the recent volatility, we’re going to do that today.

Let’s dive in and take a look at some of the most important stocks from around the world.

Here’s this...

All Star Charts Premium

Running With The Bulls

November 26, 2021

From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley

Earlier this month, we discussed our outlook for a post-harvest rally, highlighting corn and soybean oil contracts. 

Here’s what we had to say

Cotton and coffee continue to rip. Crude oil and the energy space are grinding higher. Live cattle are breaking out. Even precious metals are starting to catch a bid.

Fast forward to today, and Ags have emerged as the clear leaders over the near term. They’ve been ripping higher while the majority of the commodity space retests critical levels of former resistance and continues to consolidate.

The fact that grains, softs, and livestock are marching higher while their peers are under pressure, tells us this is an area we should focus on for long opportunities. It’s where the relative strength is right now.

When we drill into the ag space, cattle futures continue to stand out. Not only are these some of the stronger contracts in the subgroup -- they are also...

Nothing Good Happens Below 4500

November 26, 2021

Volatility is back!

But is it here to stay? That is the question.

You can see what things looked like coming into Thanksgiving in this week's RPP Report.

But with the prices of many key assets now below critical levels, we wonder if this is just more of a messy market, or the beginning of something bigger.

Here is the S&P500 stuck below this overhead supply from earlier this month, but above former resistance from September.

You know how parents always tell you nothing good ever happens after midnight? Well in the S&P500, nothing good happens below 4500:

If we're below that then there is a probably a much bigger problem out there, and the heaviest cash positions in 18 months would be warranted.