It was a down day for the market. Things felt sleepy, or just a little slow.
People are probably still traveling back from the holiday.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a down day for the market. Things felt sleepy, or just a little slow.
People are probably still traveling back from the holiday.
by David
The largest insider buy on today’s list comes in a Form 4 filing by the co-founder and executive chairman of Energy Transfer $ET.
In his fifth filing since August, Kelcy Warren revealed an additional purchase of roughly $6.1 million.
by David
From the Desk of Kimmy Sokoloff
The market is currently pulling into the $SPX 4,000 support level.
If we break below it here, we can head to SPX 3,981.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
The Dow Jones Industrial Average has rallied 19.60% since its September 30 closing low. On Friday, the large-cap blue-chip index notched another major achievement by reclaiming its pivot highs from August.
The S&P 500 and the Nasdaq 100 haven’t fared nearly as well, as both are only up a little more than 10% from their respective lows.
However, when we look outside the US, countries like Germany and the UK are enjoying their biggest win streaks since early 2018.
For risk assets to finally put in a durable low, we need participation from stocks outside the US. We’re finally getting it.
Amid all the bullish developments, we want to give the Nasdaq and S&P some time to get things in gear and play catch up.
In the meantime, we’re starting to find more and more long opportunities in individual issues. This speaks to improving market internals.
We’re also seeing more and more insiders and institutions buy into the rally over the past two months. This speaks to improving sentiment.
Let’s talk about some new favorites from our Inside Scoop universe.
by JC
Are you noticing?
More stocks are working to the upside.
More of our upside objectives are getting achieved.
Many of our shorts never even get triggered.
A lot of breakouts are holding.
What type of market environment would you describe that as?
Well, we’re seeing the most stocks on the NYSE above their 200 day moving average since March.
The Dow Jones Industrial Average just went out at new 6-month highs.
So did the S&P Financials Index.
None of these strike me as characteristics of downtrends. [Read more…]
From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
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.
by David
From the Desk of Kimmy Sokoloff
That was an uneventful day.
The best thing that happened is that I called out a $BA long trade in the live trading room.
$AAPL is down today over news, and I believe that’s weighing on the market.
by David
From the Desk of Kimmy Sokoloff
I hope everyone had a nice Thanksgiving!!
Today is a half day of trading, so let’s see if the bull still pushes on.