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[Weekly Gold Rush] Sentiment Check

December 2, 2024

Since gold futures hit our second target, the entire complex has undergone a corrective wave. 

While the market hasn't given us the all-clear signal yet, the correction seems closer to the end than the beginning.

Demand for gold worldwide continues to increase, and our intermarket analysis suggests the party is just starting for gold bugs across the galaxy. 

Moreover, our COT sentiment indicator is flashing a buy signal:

 

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Same Range, Same Playbook for The US Dollar

December 2, 2024

The US Dollar Index $DXY is sitting at the top end of the range it’s been stuck in for the past two years, and the stage is set for a move lower. 

This has significant implications for a variety of asset classes, including precious metals, equities, and Bitcoin, all of which stand to benefit from a weaker dollar environment.

Back in October, Steve highlighted the divergence in the dollar and the potential for a bounce higher

In a matter of days, the dollar ripped in a nearly vertical line toward the upper bounds of its range.

Today, the picture is very different than it was back in October. 

With a tough seasonal period setting in, along with resistance overhead and a bearish momentum divergence, our tactical outlook for the dollar is lower from here.

A few weeks ago, the dollar briefly broke out of its...

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The Minor Leaguers (12-02-2024)

December 2, 2024

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

Nowadays, to make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.

And it doesn't have to be a Russell component — it can be any US-listed equity. With participation expanding around the globe, we want all those ADRs in our universe.

The same price and liquidity filters are applied. Then, as always, we sort by proximity to new...

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The Best Morning Show In Finance

December 2, 2024

Join us this morning and every weekday LIVE at 8:30AM ET for the Best Morning Show in Finance.

I know there were some shows out there before we got here. And there are certainly folks out there trying to create new morning shows.

Good luck!

Their friends aren't as smart as our friends. Their friends aren't as cool as ours.

And their friends aren't willing to open up and share their thoughts with the world as regularly as our friends.

I know we're blessed. Not everyone can have a crew like ours. And that's why I introduce them to you every single weekday. It's the least I can do.

...

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It's Risk-On. Here's why...

December 1, 2024

[Action Needed]

Click here to get 40% off an annual membership to ASC Premium Research.

That's 40% off our twice-monthly conference calls, exclusive market scans & trade ideas, and RANGEFINDER APP to track all our trades in real-time.

Enter the offer code "blackfriday"

...

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Saturday Morning Chartoons: So Many New Highs

November 30, 2024

*NOTE* Register here for the next All Star Charts Conference Call on Tuesday, December 3rd at 8:00 pm ET.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

 

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Most Important Charts in America

November 30, 2024

The month of November is officially over.

A lot happened this month. 

And it would be foolish to ignore it. So we're doing the opposite. We're leaning in and pressing our bets.

Look at the Small-cap Indexes both making new all-time highs. The S&P600 Small-cap Index and Russell2000 Small-cap Index are completing multi-year bases and just beginning their next leg higher:

 

Another major base being completed right now is in the Dow Jones Transportation Average. 

We had seen the strength in Logistics stocks, Marine Shippers and even resiliency among Railroads and Truckers. It was really just the Airline stocks that needed to stop falling.

And that's precisely what happened.

Look at the new all-time highs in the Dow Transports:

 

Keep in mind that while we're continuing to see more and more of the most important indexes breaking out to new all-time highs, the usual suspects are also still doing their thing.

Look at the S&P500 and Nasdaq100 both hitting new all-time highs, again.

 

All of this strength in the S&P500 and Nasdaq100 is coming at a time where...

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Reminder: It's a Bull Market

November 30, 2024

[Action Needed]

Click here to get 40% off an annual membership to ASC Premium Research.

That's 40% off our twice-monthly conference calls, exclusive market scans & trade ideas, and RANGEFINDER APP to track all our trades in real-time.

Enter the offer code "blackfriday"

...

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(Commodities Weekly) Thankful For Higher Prices

November 29, 2024

My cousin wasn't asking me about crypto during this year's Thanksgiving feast. 

Instead, he wanted to know which commodity to buy after the historic cocoa trade.

Without hesitation, I told him, "coffee."

And I really believe that!

Let's talk about why.

Our Soft Commodity Index is testing a critical level of interest:

 

The index peaked and rolled over in 2011 and has carved out a massive basing pattern in the years since then. If and when the bulls resolve this pattern, we want to be long.

On a relative basis, soft commodities are printing fresh 52-week highs versus the broader commodity complex. This is precisely what we're looking for in a leadership group, and we expect this outperformance to continue for the foreseeable future.

Cocoa futures recently resolved a 45-year base and put the bears in a dirt nap, and we think coffee futures are up next:

 

As you can see, coffee is at its highest level since it peaked in 1977, following a face-ripping 600% rally in two years.

A close above 340 would mark the end of a nearly 50-year consolidation and the beginning of a new uptrend. 

And we suspect...

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The Hall of Famers (11-29-2024)

November 29, 2024

From the desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

 

*Click table to enlarge view

We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month.

Then...