It’s the weekly Gold Rush!
This week Strazza and I highlight critical levels to keep on your radar in the coming days and weeks.
Check it out… [Read more…]
Expert technical analysis of financial markets by JC Parets
by Ian Culley
It’s the weekly Gold Rush!
This week Strazza and I highlight critical levels to keep on your radar in the coming days and weeks.
Check it out… [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
The dollar is back and on the move.
After falling for four straight months, the US dollar index $DXY is up three days in a row. Whether the near-term dollar strength turns into a more sustained trend is anyone’s guess.
Regardless, risk assets feel the pressure as many areas begin to correct, including precious metals.
Despite this recent selling pressure, we have clear levels to trade against when it comes to Silver and mining stocks. [Read more…]
by Peter
The number of stocks making new lows remains negligible. Last week, the number of stocks making new 52-week highs on the NYSE + NASDAQ surpassed a number of prior peaks (Dec 2021, Apr 2022, Nov 2022). It’s now at its highest level since November 2021.
More Context: Everyone has their own definition of a bull market. For me, it’s when more stocks are making new highs than new lows. Bear markets tend to end when new lows drop below new highs. Bull markets are sustained when new high lists expand. We are seeing that now among individual stocks and we are seeing that at the industry group level (especially outside of large-caps). In moving from 2022 to 2023 we have transitioned from broad weakness to broad strength. Big day-to-day price swings haven’t gone away, but after volatile years (like we experienced last year) that can be slow to ebb. Most of the strength that looks sustainable is happening beneath the surface of the popular benchmarks or beyond the borders of our country. It’s a new year with new opportunities, but that doesn’t mean the market will make it any easier.
In our Market Notes, we review the evidence of strength we are seeing and where we are seeing leadership and opportunity among US equities.
by JC
Stock market bulls have been rewarded over the past 3 months.
And remember, historically these are the best 3 months of the year – November through January.
And then comes the hangover.
Think about those last three months.
Did you see people having a good time?
Were some having a little too much fun?
Would you agree there was some disorderly conduct?
Were participants behaving as if they were under the influence?
You bet.
And this sort of behavior is normal for this time of the year, and the entire 4-year cycle for that matter.
But then comes February – one of the worst months of the year. [Read more…]
by JC
“I only trade U.S. Stocks, JC”
“If you can’t find a stock in America to buy you’re not looking hard enough, JC”
“I live in America, JC”
“I don’t know anything about those stocks in other countries, JC”
Trust me, I hear all these things.
Not so much from you guys, as it is my friends and colleagues in the business.
I feel like readers of Allstarcharts know better, and also we have a very global audience.
So the recency bias that oozes out of most American investors, who have gotten accustomed to the U.S. being the best place to be, forgot what it’s like when that’s not the case.
You’re talking about a decade of outperformance, and depending on how you measure it, you can even argue that’s it’s been a decade and half of U.S. dominance.
But believe it or not, stocks traded before 2011.
The U.S. wasn’t always the global leader in equities. [Read more…]
by JC
The Value Line Geometric is one of the more underappreciated indexes that we have at our disposal.
The Dow is the OG, the S&P500 is the benchmark and the Nasdaq gets all the girls.
But you know, it’s the Value Line Geometric Index that might actually give us the best information. [Read more…]
by JC
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.
by JC
I remember last year getting yelled at and trolled online because I was talking about breadth improvement.
Just because their stupid computers weren’t telling them that it was time to buy didn’t stop me and my team from simply counting how many stocks were going up vs how many were going down.
Boy did that serve us well as stocks have absolutely ripped higher over the past couple quarters.
We’ve been in a raging bull market while most investors keep asking me when stocks are going to bottom.
That’s how far removed most people are from reality.
In fact, market breadth has improved so much that we’re now seeing more stocks making new 52-week highs than we saw at the peak in the S&P500, Dow Jones Industrial Average and Nasdaq back in late 2021.
Yes, more stocks are making new highs today than there were at the “market’s highs”: [Read more…]