Our series of guest posts written by members of the All Star Charts research team continues...
Today's note is from our Senior Crypto Analyst. If you're not following what's been going on in crypto, you're missing out...
-JC
The Goalposts Are in Another Dimension
Kia ora!
I'm Louis Sykes, the Senior Crypto Analyst here at All Star Charts.
When JC casually dropped that he was escaping to Disney World for an entire week, I thought he was pulling my leg.
An entire week?
At Disney World?
As a humble Kiwi where our idea of a theme park is basically a few rides and a half-day commitment, this sounded like some parallel universe of leisure.
"It's not just a park," he explained, his voice brimming with childlike excitement. "The hotel's basically a playground, and there are multiple theme parks surrounding you." Multiple? In New Zealand, we consider a carousel and a mediocre rollercoaster a full day's entertainment. This was like hearing about a theme park multiverse.
Speaking of multiverses that boggle the mind, Bitcoin...
We'll be streaming LIVE today on Stock Market TV with The Best Morning Show in Finance. This is where we talk about which stocks are moving, the major themes in the market, and what we're doing about it.
Today's guest is our in-house Quantitative Strategist Grant Hawkridge.
Grant joins us from the other side of the world in Australia. So let's all give him a warm U.S. welcome!
It's not just Technical Analysis all the time. It's actually quite the opposite. We have a lot of conversations with really smart people about all kinds of topics.
Today's guest is my pal Steve Reitmeister, who brings 40 years of experience, including being Editor-in-Chief at Zacks.com and CEO of Stocknews.com.
According to the National Retail Federation, 197 million Americans shopped over the 5 days from Thanksgiving weekend through Cyber Monday. There are only216 million Americans over 15 years old in the country. Even allowing for double-counting, that’s a good turn-out for a fake holiday with unexceptional discounts.
Who won?
Well according to our Retail and Consumer expert Jeff Macke,
"Abercrombie won the mall. Walmart won Discount. William Sonoma and Dick’s Sporting Goods have won Home and Sports so hard they’re running out of chains to compete with. Amazon is winning the world and barely seems to care about (or profit from) retail at all."
The S&P500, Nasdaq100 and Global100 Index each made new all-time highs yesterday.
This is among many other stocks, sectors and indexes around the world that are also making new cycle highs.
We've been buying stocks very aggressively, of course, because historically it pays much better to own stocks during bull markets vs doing the alternative.
We've gone back and done the work. It's just math.
Those investors with too much cash, or too few stocks in their portfolios, have been paying the consequences.
The pushback I get, and have been getting over the past couple of years, tends to revolve around valuation and how stocks are "too expensive".
I find that to be a hilarious reason to avoid buying stocks during a bull market.
Common excuses for fighting this powerful trend include, but are not limited to:
The 4th Highest Trailing P/E for the S&P500 in 124 years
US Stock Market Concentration is at a record high, when you add up the top 10 companies as a % of Total S&P500 market-cap
I was wondering myself. So I asked Retail and Consumer expert Jeff Macke to shoot over some results.
His answer?
"Abercrombie won the mall. Walmart won Discount. William Sonoma and Dick’s Sporting Goods have won Home and Sports so hard they’re running out of chains to compete with. Amazon is winning the world and barely seems to care about (or profit from) retail at all."
Man is he good.
Look at this chart of Abercrombie breaking out of this multi-decade base to new all-time highs:
Whenever I want to know what's going on in retail, Jeff is the guy I ask.
Last night was our LIVE Monthly Charts Strategy Session for Premium Members of ASC Research.
This 2-times per month LIVE event is one of the biggest reasons why most of the world's largest financial institutions that you've ever heard of come to Allstarcharts for help making big decisions in the market.
One chart that really stood out to me, especially considering where we are in the cycle, is just how many bears there are among individual investors.
In fact, despite the new all-time highs in the S&P500, Dow Jones Industrial Average, Nasdaq100 and Russell2000 Indexes, there are...