The first section dives deep into the US Stock Market, and the second half covers International Stock Markets and FICC (Fixed Income, Commodities & Currencies).
You can skip right to the trade ideas here if you'd like, or give the full report a read!
As we head into the second half of the calendar year 2020, we start from scratch with our Q2 playbook and outline our thoughts on every asset class and our plan to profit in the quarter ahead.
Part 1 of this playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates.
Part 2 of this playbook will delve deeper into Indian Equities, going sector by sector to identify the trends that matter.
Part 3 of this playbook will outline the individual stocks we want to be selling within the context of today's environment.
Part 4 of this playbook will outline the individual stocks we want to be buying within the context of today's environment.
As we head into the second half of the calendar year 2020, we start from scratch with our Q2 playbook and outline our thoughts on every asset class and our plan to profit in the quarter ahead.
Part 1 of this playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates.
Part 2 of this playbook will delve deeper into Indian Equities, going sector by sector to identify the trends that matter.
Part 3 of this playbook will outline the individual stocks we want to be selling within the context of today's environment.
Part 4 of this playbook will outline the individual stocks we want to be buying within the context of today's environment.
As we head into the second half of the calendar year 2020, we start from scratch with our Q2 playbook and outline our thoughts on every asset class and our plan to profit in the quarter ahead.
Part 1 of this playbook will cover our macro view, touching on Equities, Commodities, Currencies, and Rates.
Part 2 of this playbook will delve deeper into Indian Equities, going sector by sector to identify the trends that matter.
Part 3 of this playbook will outline the individual stocks we want to be selling within the context of today's environment.
Part 4 of this playbook will outline the individual stocks we want to be buying within the context of today's environment.
Last month I shared a video of my Happy Hour with Traders Kimmy Sokoloff and Joe Fahmy. You guys sent in amazing feedback and I really enjoyed doing it. So today, I want to give you a peak at my conversation with Andrew Thrasher and Dan Russo. They both love drinking wine and we've always had that in common, so we discussed some of our favorites as well as our thoughts on the stock market and bond market.
It's cool to be able to sit back and relax with two of the smartest guys out there and hear what they have to say. I hope you enjoy!
Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.
Being Independence Day weekend, we're going to highlight the continued structural outperformance from the US vs rest of the world in this week's post. As a good patriot and technician, I would be remiss not to take this opportunity to reflect on how grateful US investors should be.
Here are our US Index ETF and Global Index tables.
In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.
If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.
Now, let's see where these indicators ended the week.
What do we know about all-time highs? We know we don't usually see them happen in downtrends. As obvious as this might seem to some, you'd be surprised how many people don't realize that new all-time highs are a classic characteristic of uptrends.
I encourage you to go back and study the greatest uptrends of all-time. Along the way, do you see new lows being made? Or do you see a lot of new highs in those uptrends?
Well, here is the Nasdaq Composite closing at new all-time highs for the second consecutive month. I've done the work, these are things we usually find in uptrends:
On the other hand, cyclicals and Value were already hurting coming into the year and then endured serious structural damage during the Q1 crash. If you've been invested in these areas, particularly those groups directly impacted by Covid-19, it might just seem like the "worst of times."
In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.
If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.
We take a consistent intermarket approach to stocks. Not only do we analyze all the Stock indexes, both domestically and around the globe, but we also compare stocks to other asset classes. This is historically very helpful information to determine the direction of the primary trend for stocks.
Today, we're taking a look at stocks running into major resistance relative to its alternatives. More specifically, stocks are failing relative to both Bonds and Gold.
As you can see in this chart, we saw significant support near this gray shaded area in late 2018 and then once again in August of last year. This "Support" finally gave way and broke in early March, almost 4 months ago. This former "Support" has now turned into "Resistance" throughout June:
