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.
[PLUS] Weekly Observations & One Chart for the Weekend
From the desk of Willie Delwiche.
Stocks have rallied off of their mid-June lows, but it goes without saying that 2022 has still been a year marked by volatility and an absence of strength. In fact it has been historic (or nearly so) on both accounts. In terms of volatility, only two years (2008 and 2002) finished with a higher percentage of days on which the S&P 500 closed up or down by 1% or more than we have seen so far in 2022 (just shy of 50%). No year has come close to as low a percentage of days with more new highs than new lows. So far we have had seven in 2022: two in January, three in March and one each in April and May. That is just 5% of the trading days so far this year. The next closest year was 2008, which had new highs > new lows on just 13% of the days. At the opposite extreme is 2017, regarded by many as one of the best years in stock market history. That year, 90% of the days saw more stocks making new highs than new lows, only 3% of the days had the S&P 500 moving by more than 1%, and the S&P 500 booked a nearly 20% gain.
Will Commodities Find a Floor?
From the desk of Ian Culley @IanCulley
Commodities have been on the ropes for more than a month. As for commodity stocks, they’ve been under pressure since the start of Q2.
But the steep decline in these inflationary assets is beginning to slow – and it couldn’t happen at a more logical place.
The CRB Index and numerous bellwether commodity stocks are digging in and finding support at key levels. Whether these levels hold is anyone’s guess.
But the first step of the base building process is to stop going down.
Let’s take a look. [Read more…]
International Hall of Famers (07-22-2022)
From the desk of Steve Strazza @Sstrazza
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs. We’ve also sprinkled in some of the largest ADRs from countries that did not make the market-cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
Panic Buying Ensues
Buying a Bounce in Bonds
From the desk of Ian Culley @IanCulley
Buying bonds is finally becoming an attractive proposition again.
For months, we’ve noted the lack of confirmation from intermarket ratios such as copper versus gold, regional banks versus REITs, and high-yield bonds versus US Treasuries.
These ratios typically trend in the same direction as interest rates. But this hasn’t been the case since last year.
And when we consider that yields are trapped below major resistance zones, we really like the counter-trend opportunity bonds are offering at these levels.
Let’s review a few setups from our Q3 Playbook we like for buying a bounce in bonds.
July Mid-Month Conference Call: 5 Key Takeaways
From the desk of Steve Strazza @Sstrazza
Monday night we held our July Mid-Month Conference Call, which ASC Premium Members can review here.
In this post, we’ll summarize the call by highlighting five of the most important charts and/or themes we covered, along with commentary on each.
Let’s get right into it!
[PLUS] Weekly Town Hall w/ Willie Delwiche
This is the video recording of the July 21, 2022, Weekly Town Hall w/ Willie Delwiche.
07/21/22 2:00 PM ET [Read more…]
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