From the desk of Tom Bruni @BruniCharting
Today we’re looking at two Commodity charts that offer both intermarket signals and potential trading opportunities.
Cash Works If You Let It
From the desk of Tom Bruni @BruniCharting
One of the hardest things to do in life and in markets is admitting you don’t know. But when you’re only in the market to make money, and not to be right, saying I don’t know can often be the best answer.
That’s why I put out a post titled “Relatively…Confused” just two days ago because when I go through my chartbooks I see extended themes that are not offering great reward/risk opportunities right now.
[Premium] Monthly Conference Call Video Recording May 2019
This is the video recording of the May 2019 Conference Call.
All Star Interviews Season 2, Episode 22: Paul Ciana, Chief FICC Technical Strategist at Bank of America Merrill Lynch Global Research
Paul Ciana and I go way back to 2006 when him and I were studying for the CMT exams together. Today, Paul is the Chief FICC Technical Strategist at Bank of America Merrill Lynch Global Research. In English, that means everything outside of equities. It’s nice to see your friends succeed and watching him crush it is definitely one for the good guys.
In this podcast episode we dive deep into the FX world where Paul walks us through 3 important currency pairs that all stock market investors should follow. We talk about Crude Oil and Gold and other precious metals. The Dollar is a key focus right now for both Paul and me, so we get into what the implications are for stocks and other assets around the world.
I really enjoyed this conversation. It could have gone on for hours and hours. We’re lucky to have Paul come on the podcast. He speaks to the biggest PMs in the world on a daily basis and has been doing that for close to a decade and half. His unique perspective is a huge value add for sure! [Read more…]
Here’s Why We’re Buying Chinese Internet Stocks
With the Chinese Internet Index closing at new 7-month highs this week, have we seen the move already, or are we just getting started?
One thing we know for sure by studying history is that stock prices trend. That’s why Technical Analysis works. These tools help us identify those trends. Many academics will tell you that these consistent series of higher highs and higher lows over time are just random. The truth is you can show these charts to a 5 year old and the kid will tell you that yes, this stock is going up, or no this stock is going down. You can even argue that a trend is sideways, but that is trend recognition nonetheless.
It’s very clear that markets trend, particularly stocks. They go up over time and they go down over time. A stock making new highs has a higher likelihood of continuing to make new highs vs turning around and beginning a new trend. An object in motion tends to stay in motion, is how Newton taught us. It’s the same in stocks, which are driven by e-motion. (See what I did there?) [Read more…]
[Chart(s) of The Week] Relief In Small and Micro-Caps
From the desk of Tom Bruni @BruniCharting
Last week in our note to Institutional Clients we highlighted the potential for mean-reversion in the relative performance of Small and Micro-Caps, driven by rotation into Financials and Healthcare.
Stocks And Commodities Pointing To Higher Rates
Interest Rates in the United States hit new 52-week lows last month. But from the looks of it, the commodities market and stock market are not in agreement with that direction. It’s when we see divergences among asset classes that it gets my attention.
Today we’re looking at the divergences between stocks, bonds and commodities that I believe are pointing to higher rates this quarter. If we’re going to take the weight-of-the-evidence approach, it’s 2 to 1 in favor of rising interest rates. [Read more…]
JC, What’s Your Favorite Chart Right Now?
One of my good college buddies always busts my chops because he thinks it’s ridiculous that look at charts all day. Today he calls me about some other stuff, but randomly asked what was my favorite chart. I’m like, “…of all time or right now?”. He said right now, what’s my favorite chart?
It got me thinking. But my first reaction was the SPX/CRB chart. This is one of the most fascinating situations in the world today. [Read more…]
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