It’s the weekly commodity edition of What the FICC?
I have to imagine Uranium stocks catch a bid if copper and gold are ripping higher.
Check it out!
Expert technical analysis of financial markets by JC Parets
by Ian Culley
It’s the weekly commodity edition of What the FICC?
I have to imagine Uranium stocks catch a bid if copper and gold are ripping higher.
Check it out!
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Commodity prices remain elevated despite easing inflationary pressures.
It’s evident in the two overarching themes across the commodity space – resilience at the index level and relative strength from metals.
I’ve been vocal about both, urging readers not to fight DR. Copper while teasing the possibility of Gold reaching 5K. I’m serious about both!
Strength likely spills over into the periphery if we’re in an environment where gold and copper print fresh highs.
That brings us to my favorite chart this week…
by JC
We like to keep things simple around here.
When there is less supply of something, and more demand for it, the price goes up.
That’s how markets work.
So first it was Warren Buffett aggressively buying shares of Chevron. He now owns over $30 Billion worth.
This has been a very very good trade for us.
Warren Buffett was the smart money. And we listened.
Now this week, you can argue that the even smarter money, the company itself, announced a $75 Billion Buyback.
In other words, with all the money that Chevron is making these days, they believe the best thing they can do with all that cash is to buy their own stock.
And so $CVX is now making new all-time highs, again: [Read more…]
by Ian Culley
It’s the weekly bond edition of What the FICC?
The near-term direction of US interest rates will play a major role in how market conditions resolve in the coming weeks. This is a chart you want to monitor closely…
Check it out!
by Ian Culley
From the Desk of Ian Culley
Choppy conditions prevail.
Sure, risk appetite is returning as long-duration assets catch a bid.
The ARK Innovation ETF $ARKK, Tesla $TSLA, and even the Emerging Markets Bond ETF $EMB show impressive near-term strength.
Nevertheless, the overall market is still a range-bound mess…
The S&P 500 churns below overhead supply. A decisive downside resolution in the US Dollar Index $DXY has yet to occur. And commodities – at least at the index level – refuse to violate key support levels.
I doubt the markets will clean themselves up in the coming weeks. But if you want insight into the near-term direction of the major asset classes, keep an eye on this one chart…
Today’s note has nothing to do with trading, and absolutely everything to do with trading.
Let me explain.
The solutions to trading problems aren’t always found when we’re trading. In fact, I would argue most of the time they aren’t. At least not for me.
Have you ever been in the shower, on a walk with your dog, or driving your car when suddenly you were struck with a fantastic idea or an important “to-do”? Not just about trading, but about anything?
Happens to me all the time.
Even worse, it seems that whenever I’m struck with a great idea or a prompt for an errand I need to do, they come in waves. The brainstorming just flows ideas out of my head in a torrent that makes it impossible for me to remember everything. And it always seems to happen when I have no ability to write it down.
So I just try to remember it all until later when I can either perform the task, send that email, write that blog post, make that trade, or adjust that strategy.
But this act of remembering prevents me from moving forward when all I’m trying to do is balance the spinning plates of thoughts running in my head.
Remembering consumes far more mental energy than is necessary.
Because of my limited mental capacity to maintain so many spinning plates, the majority of my great ideas and reminders inevitably are forgotten and never acted upon. At least, not in any kind of timely fashion that would be most beneficial to me or any projects I’m working on.
This past November, a book found me at just the right time and place that has completely transformed my productivity – both personally and professionally. This in turn has freed up so much time and headspace for me to make tremendous progress on long-term projects that have been festering, uncompleted, in the dark recesses of my mind for seeming ages. [Read more…]
by Louis Sykes
From the Desk of Louis Sykes @haumicharts
One of the most remarkable philosophical pieces of all time is Plato’s “The Allegory of the Cave.” It’s commonly applied in various ways in today’s society, making it one of the most significant analogies to come out of the field.
The story follows a group of people chained underground as prisoners, only knowing the wall in front of them and nothing else.
Behind them is a fire, and between the prisoners and the fire is a walkway. As people move on the walkway, the prisoners see the shadows cast on the wall.