This is the video recording of the May 2020 Conference Call.
Bharti Airtel & Telecom Stocks Charge Higher
During Chart Summit India we outlined a number of stocks showing relative strength and positive momentum characteristics, one of which was Bharti Airtel.
With the stock hitting new all-time highs, we want to share two more charts that suggest money may continue flowing into the entire Telecom sector.
The Week In Review (05-15-2020)
From the desk of Steve Strazza @Sstrazza
For the week ended Friday, May 15, 2020:
Every weekend we publish performance tables for a variety of different asset classes and categories along with commentary on each.
This week’s main theme is that the strong continue to get stronger and vice versa, which we’ll highlight in our Industry and Sector ETF tables, below.
Five Bull Market Barometers (05-15-2020)
Earlier this month we outlined the “Five Bull Market Barometers” we’re watching to identify the beginning of a new bull market in stocks.
In this post, we’ll update those charts without going into as much detail as to why they’re important. So if you haven’t read our initial post linked above, we’d encourage you to check it out.
With that said, let’s jump in and see how these charts have developed since.
An Inflection Point For Both Stocks And Bonds
From the desk of Steve Strazza @Sstrazza
This week’s Mystery Chart was a simple yet pivotal one… it was a ratio chart of Stocks vs Treasury Bonds.
With stocks struggling at resistance this week and Treasuries meandering beneath all-time highs, both appear to be at key inflection points.
Making things even more interesting is that the S&P 500 (SPY) relative to 20+ Year Treasury Bonds (TLT) ratio is also at a key level of interest. It is make-or-break time for these two asset classes so let’s dive in and see what’s going on.
[Table Of The Week] Global Breadth Remains A Headwind For Stocks
From the desk of Steve Strazza @Sstrazza
Breadth divergences from earlier this year took a while to confirm, but once they did we saw considerable downside.
My Chart Summit Presentation was on how I use statistics and scans to visualize market internals for insight on breadth and relative strength. I used tables from our Weekly Momentum Reports in January and February to illustrate the clear deterioration in participation taking place at the time despite the major indexes grinding to new highs.
In this post, we’ll do a similar exercise and use stats to analyze whether breadth has been improving or deteriorating in Global Equity Markets over the past month.
Vedanta Ltd. Begins Voluntary Delisting
Vedanta Ltd. has begun the process of a voluntary delisting of its shares from the public exchange, with the promoter group planning to buy out the remaining ~49% of non-promoter shares it doesn’t currently own.
We spoke about Vedanta Ltd. in our Chart Summit India presentation last month as a stock setup we liked on the long side, so given this news, we wanted to revisit that setup and see what lessons could be taken away and applied in future situations like this one.
It’s Time To Sell These Popular Stocks
From the desk of Steve Strazza @Sstrazza
Last month we wrote about the lackluster move from some of the cyclical sectors off of their March lows, particularly Industrials and Financials.
We continue to see weakness out of these areas over both long and short-term timeframes as Financials are pressing on all-time lows relative to the S&P 500 and Industrials just made a fresh relative 20-year low.
In this post, we’ll take a look at these underperforming areas and share some trade ideas to express our bearish thesis.
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