Connie Brown is the author of one of the first books I ever read on Technical Analysis. She was the one who inspired me to use Momentum as a supplement to price behavior, particularly the Relative Strength Index (RSI). It was Connie Brown who taught me how to think outside the box and question the default settings on traditional charting software. It’s that next level thinking that has helped me grow throughout my career. It is a real treat for me to have her on the podcast and I think she is a great compliment to some of the other guests we’ve had on over the years. In this conversation we go back to the stock market panics of the 1800s, go over different global indexes and how to use them to make decisions in our own markets. If you’re interested in Technical Analysis at all and want to learn how to think about things a little differently, this is the podcast episode for you!
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All Star Interviews Season 3, Episode 7: Denise Shull, Performance Coach & Founder of The ReThink Group
This week we have a special treat on the podcast. Denise Shull is a Performance Coach and founder of The ReThink Group. She is widely believed to be the inspiration for the character Wendy Rhoades on the Showtime series Billions. We have a lot of different perspectives on the podcast all revolving around the behavior of the market and its participants. In this episode we focus more on the behavior of the participants themselves and why traders do the things they do. Denise shares stories about different clients she has and the ways they overcome things like loss aversion, being too aggressive and not being aggressive enough. We discuss the differences between male and female traders, the advantages women have in this field and reasons why there are so few women on Wall Street. I really enjoyed this conversation because I think it’s important to understand that there are real humans on the other side of our trades. Even if they are algos built by humans, the people are still there and it’s important to understand their side. One of the best things she said was about how regardless of our strategy, we need to remember that the ultimate goal is to figure out why someone would pay a higher price in the future for the stock you’re buying now. We want to think about what they’re thinking. Give it a listen. It’s a good one!
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[Chart(s) Of The Week] The Importance Of Confirmation
One of the most important concepts we talk about in Technical Analysis is confirmation.
Whatever thesis we have, we need price to confirm it before we can act…and if it doesn’t then we need to respect that and get out of the way.
Risk management is our main priority and two simple charts do a great job of highlighting why we wait for confirmation.
All Star Interviews Season 3, Episode 6: Todd Sohn, Technical Strategist at Strategas Securities
Todd Sohn is one of my favorite guys to talk to about the markets. He often sends me charts that no one else is looking at and points out important data that most people aren’t talking about. His unique perspective on the market definitely makes him stand out from the rest. Todd and his team at Strategas do great work and it’s a real pleasure to have him on the podcast. In this conversation we discuss the current environment for US Stocks, Interest Rates, Precious Metals and the sentiment driving current trends. He offers good advice for both new technicians and seasoned veterans. If you’re at all interested in the market, this is an episode you can’t miss. Enjoy! [Read more…]
Video: Financials Dragging Down European Stocks
In this Episode of Allstarcharts Weekly, Steve and I talk about the underperformance of European Stocks and the fact that it’s their weighting in Financials that is, in part, dragging them lower. This has really become an interest rate story as Financials around the world are keeping other countries’ markets from breaking out. The overwhelming exposure to Technology continues to keep the US winning relative to everyone else. [Read more…]
Don’t Look At Weekly Candles Until the End of the Week
Rule #1: Don’t look at weekly candles until the end of the week.
But it’s hard to ignore the buying we’ve seen since Monday night… [Read more…]
All Star Interviews Season 3, Episode 5: Ari Wald, Head of Technical Analysis at Oppenheimer
Ari Wald is always one of my favorite Technical Analysts. Him and I were trained around the same time so we look at the market in a very similar way. Today Ari is the Head of Technical Analysis at Oppenheimer in New York and we’re very lucky to have him on the podcast. If you’re interested in learning more about Ari, go back and listen to his guest appearance in Season 1 (EP 2). In this episode, Ari and I discuss the current state of the US Stock Market. Included in the analysis are breadth measurements, important levels, smoothing mechanisms and sector rotation. Him and I can talk forever about this stuff so the time felt like it flew by. We covered a ton of material in a very short period of time. I hope you enjoy this one as much as I did! [Read more…]
Video: Gold Higher and Dollars Lower
In this Episode of Allstarcharts Weekly, Steve and I talk about the recent strength in Gold, even in the face of a Dollar that has yet to start falling. After Thursday and Friday’s turn around, I think it’s finally time for the Dollar to weaken. The way I see it, the relative strength we’ve seen in Gold was a heads up that the Dollar is set to fall. The correlation between Japanese Yen and Gold Miners on a relative basis is the intermarket relationship that stands out the most. [Read more…]
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