This week on the podcast we have the pleasure of chatting with Craig Johnson, Chief Market Technician at Piper Jaffray. I’ve known Craig for a long time and love the work that he puts out. During the day he speaks to buy side clients all over the world. As a past president of the CMT Association, he has surrounded himself with some of the best minds in the history of technical analysis. His perspective based on who he speaks to and his experiences throughout his career make me want to listen when he has something to say. In this conversation we discuss the rest of the year for U.S. stocks and sectors. There’s a part in this episode that focuses on breadth and what we’re both looking for moving forward. Inflation, or lack thereof, is something he’s watching, so we talk about Gold, Oil and other inflationary factors that could impact stocks and bonds. We covered a lot. I really enjoyed this one! [Read more…]
Participation May Broaden In These Three Sectors
Most of the Equally-Weighted Sector Indexes we track have been underperforming their Cap-Weighted counterparts for the last 16 months, however, we are starting to see some signs that a counter-trend rally in three sectors may be brewing.
[Premium] The Industrial Stocks We’re Buying
From the desk of Tom Bruni @BruniCharting
Last week’s Mystery Chart Reveal focused on the rotation into Industrial stocks. In this post I’m going to point out five names in this sector from the S&P 1500 with extremely well-defined risk and skewed reward/risk at current levels.
The Dow Jones Industrial Average Today
The Dow Jones Industrial Average is my favorite of all of the stock market indexes. You know how many charts we look at every week at our shop. So with the plethora of price data that comes across my desk, it’s really the simplicity of the 30 stocks that represent the Dow that makes me appreciate the index for what it is.
The Dow is a price weighted index where the highest priced stocks represent a larger portion of the index. For this reason, it often gets dismissed in favor of the “broader-based”, market cap-weighted S&P500. Some like myself even prefer the Russell3000 index which is really representative of the US Stock market. Funny enough, as different as these indexes may be on paper, that’s why they play the game. Here are what the 3 of these things look like in real life. [Read more…]
[Premium] Low Risk Long Entries
Most of the stocks we’ve liked on the long side have either been stopped out or are well on their way to our upside objectives. While we’re remaining patient and think many stocks still need to consolidate their recent gains, that doesn’t mean there aren’t any opportunities right now.
In this post I’m going to outline the stocks where our risk is very well-defined and reward/risk is skewed in our favor. That way we can participate in any potential upside if the market continues higher, while also limiting our downside should it succumb to the near-term weakness we’ve been on watch for.
[Read more…]
Video: The Equal-Weight Conundrum
Have you ever heard that the stock market cannot go higher on an absolute basis if the Equally-Weighted S&P 500 is underperforming its Cap-Weighted counterpart. Does this measure of market breadth have any predictive value with respect to market direction? What about the sectors themselves? Well, we’ve run the numbers and the answer is no! [Read more…]
Notable Rotation Into Industrials
From the desk of Tom Bruni @BruniCharting
I received a ton of great responses via Twitter and email for this week’s Mystery Chart, so thank you for that.
A lot of you were leaning toward the long side, with different approaches and stops. Some were neutral, but none of you were getting short.
About Those “Shitty” Stocks
From the desk of Tom Bruni @BruniCharting
A few weeks ago I wrote about Shippers, Casinos, and some Construction/HomeBuilding Related stocks being some of the weakest areas of the market. About the message the market would be sending if those stocks couldn’t see downside follow-through after breaking down.
So let’s check in on those “shitty” stocks.
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