There aren’t many coins breaking out to all-time highs right now, but AXS is one of them.
We just had to break the rules with this one – it’s currently trading at a tiny market cap of $750M, so it’s $250M shy of joining our Crypto universe. So keep in mind that this one is much smaller than what we...
This week we’re looking at a long setup in the Infrastructure sector. Nifty Infra continues to display strength across different time frames. One of the stocks that stands out from this sector has been featured here.
We retired our "Five Bull Market Barometers" in mid-July last year to make room for a new weekly post that's focused on the three most important charts for the week ahead.
This is that post, so let's jump into this week's edition.
From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley
Energy is the clear leader in the commodity markets right now. Our equally-weighted energy index is up 13.76% over the trailing month and 6.58% in the last five days.
The emerging strength from this group is supported by a rising rate environment that could be just getting started.
So, crude oil to 100 dollars and natural gas to 9?
Maybe! But before we get ahead of ourselves, there are still plenty of mixed signals and divergences that need to be resolved.
One that stands out is the lack of confirming price action between economically sensitive commodities. Let’s take a look!
Here’s a chart of Crude Oil futures, Copper futures, and Copper Miners $COPX:
All three are consolidating within an underlying uptrend. But there’s one major difference.
Index-level volatility picked up in September and by month-end the S&P 500 has experienced its first 5% drawdown in nearly a year. Beneath the surface, we’ve been seeing increasingly widespread and substantial pullbacks since early this year. More than 50% of NASDAQ stocks are more than 20% below their highs, and more than 20% are more than 50% below their highs. These percentages have been trending higher since February and reflect a market that has churned, corrected and seen a substantial amount of air come out of it since Q1. With the indexes themselves now catching down, Q4 could be when the average stock starts to get back in gear.
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Monday October 4th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Our International Hall Of Famers list is composed of the 50 largest US-listed international stocks, or ADRs.
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 big US names on our original Hall Of Famers list.
The beauty of these scans is really in their simplicity.
We take the 50 largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Let’s dive in and take a look at what some of the largest stocks around the world are doing.