Yesterday was a one-hit wonder for longs. Today was pretty ugly.
The market is showing who’s in charge.
The $SPX broke through support levels at 3,850 and 3,800. Next support is at 3,744.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Yesterday was a one-hit wonder for longs. Today was pretty ugly.
The market is showing who’s in charge.
The $SPX broke through support levels at 3,850 and 3,800. Next support is at 3,744.
by David
From the Desk of Kimmy Sokoloff
Futures down some after yesterday’s nice move to the upside.
It could be a consolidation day, but I would like $SPX 3,850 held today.
by David
The largest insider transaction on today’s list came in a Form 4 filing from Durable Capital Partners.
The hedge fund reported an additional purchase of $8.7 million in Duolingo $DUOL.
by JC
I don’t know how many times I’ve said it this year. Someone go back and count.
But the catalyst IS THE WEAKER DOLLAR.
It’s not the fed, or the election, or yield curves, or wars, or Santa Claus or any of the other random arguments that we’ve all heard along the way.
It’s the US Dollar.
Period. [Read more…]
This is the recording from the live December 2022 Conference Call for Members of the Allstarcharts India! Before getting into individual stock ideas in India, we’re going to first start with the global macro perspective. Once we identify the direction of the underlying trends from a structural and broader view, then we’ll dive into the NIFTY Indexes on both longer-term and short-term timeframes. We want to look at Large-caps, Small-caps, and everything in between before getting into the Sector and Industries themselves like Energy, Banks, and Pharma.
This is when we finally break things down to the individual stock scenario with identified risk vs reward opportunities. That is what this is all about – aligning ourselves in the direction of the underlying trend while at the same time identifying where the risk is to make sure the potential reward is skewed exponentially in our favor. You will find that throughout this process we discuss Momentum, Fibonacci and Relative Strength. I encourage you to check out the Education Section so you know exactly where I’m coming from when you hear me mention these tools.
Here is the video in full:
by Ian Culley
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
In today’s Morning Briefing, I wrote about $SPY and $TQQQ trade ideas.
Both targets were reached. SPY ran right into resistance at 387 and then pulled back, as was alerted.
by David
This is the video recording of our December 21, 2022, Inside Scoop Weekly Strategy Session.