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 November 16th 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:

The Top/Down approach to markets is at the core of what we do at All Star Charts. That means starting at the asset class level and peeling back each layer to refine our view of the smaller components that make up that asset class. With each new layer, we discover information that helps us form our weight of the evidence conclusion.

That brings us to our weekly column, The Top/Down Take, where we hope to educate readers on how we execute this process and highlight its value through the analysis of popular stocks.

Last time it was Tata Consultancy (TCS), but today the stock we're looking at is Dixon Technologies which made new all-time highs this week.

The ASC research time has been hitting the bong for some deep thinking and far out trade ideas. Tom Bruni published this piece on opportunities hidden behind a cloud of smoke in the marijuana stocks space.

One pretty speculative idea stood out to me which we'll be taking a hit off today.

It's high time we checked in on the Marijuana stocks since our last update was in July.

Before we start, just want to give a big h/t to our intern @GrantHawkridge for helping out bigly with this research and post.

Some might even call this post a...JOINT venture.

We'll be here all week.

Now, let's get into the charts.

First, let us start at the industry level with the Alternative Harvest ETF (MJ). There is nothing bullish about this chart and made no progress in 2020. Prices have re-tested resistance multiple times, however, each time sellers came in and defended that level.

For now, the benefit of the doubt goes to the bears as this is a sideways trend at best, at least until prices can get above this 15-16 range.

Click on chart to enlarge view.

On a relative basis, this thing is sitting near all-time lows relative to the S&P 500. ...

For years, Domino's Pizza has been one of those stocks where I've remarked every time I look at a long term chart: "Holy Cow!" Ok, honestly, it usually involved more words in the f-bomb category of expletives. But man, what a monster run! Who knew there was so much money in a pizza delivery chain?

Is it time to buy the Travel, Leisure & Entertainment stocks?

I don't necessarily think we need to own all of them. But if we focus on the ones with the most relative strength and positive momentum, we should be in a much better position to succeed. In other words, if we can find the ones that don't look like most Travel, Leisure & Entertainment stocks, then we could have a winner!

First of all, here is the Dow Jones Travel & Leisure Index (can't trade it) overlaid with the Leisure & Entertainment ETF $PEJ (can trade it) so you can see how similarly they move. I also included some of the fun facts about $PEJ from the Fund Factsheet.

As we come into the week of Dhanteras and Diwali, and the celebrations that go with that, let us talk about some of the financial decisions we may consider at this time. I heard Swarup Mohanty at Mirae Asset Management say this a few weeks ago: "Dhanteras is the time for our Annual SIP into Gold." It's true and I'd never thought of it that way.

Buying Gold has been a traditional investment for many. But financial markets have developed to the point that we look at buying Gold as a financial decision - complete with its risks, rewards, and top-down analysis.

(I'm not sure if Mr. Mohanty came up with that expression or if I should have credited someone else. I heard it from him. Please forgive any mistakes in this.)

The market is telling us that Pharma stocks need more time to correct before they're ready for their next leg higher.

Below are a few charts explaining why and how we're approaching the sector going forward.

On this week's podcast, I wanted to share a recent interview I did on Opto Sessions with Ed Gotham over in London England. Our chat took place on Thursday afternoon November 5, 2020, just a couple of days after an unresolved election. My main points revolved around focusing on price trends and worrying less about election results, at least as far as portfolio decisions are concerned.

Ed came at me with a bunch of great questions. I appreciate how direct he was. I wish more interviews I did came at me with such relevant topics and ideas.

I really enjoyed this one. Thanks Ed for a fun chat!

From the desk of Steve Strazza @Sstrazza

As Notorious BIG would say... "and another one!"

We've been pointing out historic breadth readings since this summer. We've actually seen a handful of extreme readings that typically occur at major market lows and the early stages of new secular bull markets.

We've seen them across most major indexes as well, even Small and Mid-Caps.

From the desk of Steve Strazza @Sstrazza

New Mystery Chart!

For those new to this exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!

We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.

You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?

From the desk of Steve Strazza @Sstrazza

At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the relative strength trends at play and preview some of the things we’re watching in order to profit in the weeks and months ahead.

Despite being in a split market environment, we've pointed out how the weight of the evidence continues to shift further and further in the direction of the bulls with each passing week.

This past week, we finally saw what appears to be the tipping point as stocks and risk-assets were all up generously. We've been waiting for the market to make up its mind from a risk-appetite perspective, as well as for the stock market to pick a direction after almost three months of sideways action.

Not only was the S&P up over 7% last week, but it's following through with a monster move today. The S&P is up about 3.5% as I write this.

But there's even more good news for investors... it looks as...