GTStockmaster

GTStockmaster

Simple view of this critical sector breaking through key technical trendlines. Our first bearish sign was the break earlier in August, which held, and rallied back above the original broken trendline. That quickly stopped as momentum ran out, and it's now breaking through multiple trendlines with bulls at max long. This can potentially fall significantly given...

GTStockmaster

Just an interesting finding that the current TSLA price action is almost a perfect imitation of Tesla's behavior prior to the Feb market crash. The only difference is that the time-scale is more compressed. These things have a tendency to break away from the pattern, but I do think it's interesting and somewhat telling in the short term.

GTStockmaster

Using the ratio of equal weight S&P 500 to the market cap weighted S&P 500 provides great insight into how concentrated the market is. Market Concentration Market concentration tends to grow as a bull market extends into its older age. There are some basic structural reasons for this. Portfolio Managers & discretionary investors naturally pile into winning...

GTStockmaster

I posted a few months ago Amazon was in a terminal formation. Like a lot of stuff, there was an upside overthrow to knock out any remaining bears, and now we are looking to test the long term support from the 2008 lows. Below that, there are a few other support lines, but the next MAJOR support is around 950-1000 depending on time frame of a drop. Amazon actually...

GTStockmaster

I could add many charts right now detailing similar themes, but this one to me is extremely telling.. South Korea is sitting on the cusp of two 30+ year long trendlines it has not broken in quite some time. These are extremely important. I wouldn't be fully surprised if we retest or don't break right away, but given the moves in global markets, it could just...

GTStockmaster

Very similar pattern to 2000 tech bubble peak. Amazon's current pattern = terminal.

GTStockmaster

This primary indicator just flashed a huge warning signal. Looking like its time to sell and take profits on the enormous post GFC rally. Note - keep a close watch on weekly claims in the coming weeks. We still want a little bit more confirmation of this rising before jumping to conclusions about the direction of unemployment, but I do not take this cross...

GTStockmaster

Healthcare is mirroring 2015-2016's triangle breakout pattern here with an obvious move above the trendline. LOTS of people see this, and there are many people viewing this as a repeat of the post 2015 rebound. I'm not totally sold on that scenario however. 2015-2016's healthcare consolidation saw a lot of frauds busted and companies deflated. Currently, we do not...

GTStockmaster

Great setup to go long weed stocks right now. This may seem counterintuitive during what looks to be a coming market selloff and fears over recession, but this is shaping up to look as a great mid-term trade. Some Quick Thoughts... From a chart pattern perspective, this chart is almost a perfect "v" type dip, with accelerating selloffs eventually leading...

GTStockmaster

This ratio shows more crowding into mega cap names within the S&P 500

GTStockmaster

Copper is interestingly a great gauge of economic health coming from Asia, and also a relevant view on global growth / inflationary expectations. We've been battling two head and shoulder formations since the GFC. First, the very large commodity bubble formed a big head and shoulders that peaked roughly around 2012, a time where China had maxed out its credit...

GTStockmaster

I've been watching this natural gas producer as it's one of the most productive gas producers with one of the best balance sheets out there in a highly beaten up industry. Their valuation is great despite some challenges in the natural gas industry, and they saw a huge selloff after worsened guidance recently. I'm now buying on this weakness. Here is why: ...

GTStockmaster

Basic chart showing CNY & EM

GTStockmaster

JPYUSD broke out today with a huge 1% move to break out of a 4 year long wedge. This is a bit of a technical move, but it has loads of fundamental implications. Before I go into detail, note that before and during every major market breakdown, JPY spikes, at least in modern times. It has a reputation as a safety currency / safe haven due to this reputation....

GTStockmaster

Just looking at two potential necklines. Both probably matter. If you take away the overthrow in 2008, you get a very clean horizontal neckline that just broke, signaling recent acceleration downward in AUD. This is also likely why we were muddling around recently in the current range for such a long time. The other neckline was already broken, but it based on...

GTStockmaster

Not that this is necessarily meaningful, but I find the characteristics of these assets rather strikingly similar. While I certainly would not trade off this alone, it kind of cements my view that Gold is potentially due to for a huge selloff here, which is a very contrarian take in today's market environment. The charts read extremely similarly... peak...

GTStockmaster

See chart

GTStockmaster

2018 saw a rolling bear market in emerging markets, with a lot of EM currencies getting crushed vs. the dollar. Why has everyone forgotten about this? The issues are systemic, and the buy-down of the USDHKD peg only kept the eurodollar market functioning for long enough to forestall some further pain. Now that the peg has been hit again, we are starting to yet...