Today was quite a turnaround.
We went from a bearish pattern to right back on course!
It’s been a choppy week.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Today was quite a turnaround.
We went from a bearish pattern to right back on course!
It’s been a choppy week.
by JC
The catalyst all along was the U.S. Dollar.
During this US Dollar decline over the past couple quarters, the Dow Jones Industrial Average and Nasdaq100 are each up over 15%.
These tremendous gains for stocks started once the journalists all agreed on how strong the Dollar was at the time.
You can see those implications here. [Read more…]
by David
The most significant insider transaction on today’s list comes in a Form 4 filed by Christopher M. Hilger, director at Donaldson Company $DCI.
Hilger reported a purchase of DCI stock worth $199,953. [Read more…]
by David
From the Desk of Kimmy Sokoloff
$QQQ dropped yesterday to its 21-day moving average, and $SPY fell to its eight-day moving average at 407.50.
I was looking at $MRK yesterday in the live trading room, and I wish I bought it as it’s up this morning.
From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach. It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
It’s a very sloppy market.
Either we’re digesting to head higher or we’re going to head lower right here.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Recessionary fears run high.
Everyone is talking about an imminent economic downturn and the next stock market crash.
You hear it on the news and in the streets – talk of the banking crisis, the Fed, inflation, and China pervades the narrative. Even my doctor assured me the world is headed for dark times during a routine appointment earlier this week.
Bearish sentiment is obviously alive and well.
But, as a chartist, I prefer to visualize these rumblings…
by JC
The morning of Good Friday I popped into Fox Business to chat about markets with Maria Bartiromo.
The last time I was on with her, back in October, we discussed how stocks were still in the early stages of a new bull market.
Now that we’ve seen the S&P500 rally 15% with the Nasdaq100 up 22%, people are starting to believe.
It’s been broad based appreciation in stock prices since that October morning.
Every US Sector is positive and many are up over 20%, just since October alone. The numbers are even better when you anchor back to when the new 52-week lows list peaked in June.
Historically, during bull markets you see more and more stocks going up and making new highs. In bull markets you see more sectors participating to the upside and more countries around the world breaking out.
This is exactly what’s been happening for about 10 months now.
All these uptrends you’re seeing in most stocks is not a new phenomenon.
And it hasn’t slowed down yet either. When it does, we’ll be right here talking about it.
Check out the interview in full from last Friday: