From the desk of Steven Strazza @Sstrazza and Grant Hawkridge @granthawkridge

It's a tale of two markets. 

The weight of the evidence remains mixed across asset classes. We also continue to see more and more risk assets struggle at overhead supply. This is particularly true for equity and commodity markets.

From an intermarket perspective, most risk appetite ratios and risk-on relative trends are either moving lower or are rangebound.

Simply put, there's little in terms of directional edge for investors. The data remains split right down the middle -- and there are sound arguments for both the bull and bear case.

Although the information we're getting from the Bond Market is much more consistent these days. And what we're seeing is suggesting lower yields for longer.

Let's take a look... 

From the desk of Willie Delwiche.

A recurring theme when it has come to market breadth is that while it has not been keeping pace with the indexes, it has not been breaking down. That is starting to change. Net new highs have turned negative on a 21-day and 63-day basis as divergences are starting to look more like meaningful deterioration. If they turn negative on a 52-week basis (shown below) it would suggest a more significant breakdown in breadth and a building of downside risks in the indexes.

These are the registration details for our live monthly conference call for Premium Members of All Star Charts.

This month’s Conference Call will be held on Monday July 19th at 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.

Here are the details for Monday night:

If so, we've got an idea to play it.

We've had a couple picks from our recent Young Aristocrats report that I've liked for options plays. But I waited on this one until today because we needed to get earnings out of the way.

The good news is, the post-earnings report reaction was muted and the setup remains intact, so we're ready to take action.

From the desk of Steven Strazza @Sstrazza and Grant Hawkridge @granthawkridge

Several weeks back, we discussed the fact that new lows were non-existent across just about all of the major averages in the US.

It’s pretty hard for a market of stocks to decline in any meaningful way without an expansion in downside participation. And we just aren't seeing any signs of this when looking through our breadth chartbooks and new low indicators - not even on shorter timeframes. This remains the case today.

We've been pounding the table on our view that this is nothing but a messy market, as well as the fact that many significant risk assets are chopping around key resistance levels.

So you would think this would be an excellent opportunity for the bears to take control… But, they just can't seem to get it done! Let's dive into some of our breadth and sentiment indicators and see what...

This is the video recording of the July 15th Town Hall Meeting w/ Willie Delwiche

07/15/21 2PM ET

We've made our thoughts pretty clear these last few weeks: The bias is higher for Bitcoin if it's above 30,000.

But while we're waiting for bulls to reassert control, it's been messy and choppy out there.

Many of the names we've been taking shots on the long side have fallen back below their risk level, to then aimlessly meander. Neither breakouts nor breakdowns are following through. It's ultimate indecision at play...

This is such a prevailing theme right now in the near term that even though we've been hitting on it a lot recently, we want to be downright obnoxious about it.

Until Bitcoin can pick a direction, buying any Altcoins on the long or short side becomes infinitely more complex.

Just take a look at how few outliers there have been from this mess recently. More or less every coin (above $1B in market-cap), is being heavily anchored down by this messy action in the major coins:

From the desk of Willie Delwiche.

This All Star Charts +Plus Monthly Playbook breaks down the investment universe into a series of largely binary decisions and tactical calls. Paired with our Weight of the Evidence Dashboard, this piece is designed to help active asset allocators follow trends, pursue opportunities, and manage risk.

As we progress into Q2 of Fiscal Year 2021-2022, this playbook outlines our thoughts on every asset class and our plan to profit.

This playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates, as well as outline our views on the major nifty indices and the sector/thematic indices.

We also cover individual stocks we want to be buying to take advantage of the themes discussed in the playbook.

From the desk of Willie Delwiche.

It isn't often that we put on trades where we are explicitly swinging for the fences. But an opportunity has presented itself in the lastest Young Aristocrats report that is offering up an all-or-nothing reward to risk scenario. If we're wrong, we'll likely lose 100% of our capital. But if we're right? We could potentially make 6-10x our investment. I'd like to think the All Star Chart team's conviction on this trade tilts the odds in our favor a little bit.

What's interesting (at least to me), is that the play is in a name with exposure to water. Yes, water. The earth's most abundant, yet precious resource. I've always daydreamed of someday making a killing with long-term investments in water rights and so forth. I'm not there yet, but maybe this play will jump-start my exploration.