We don't hear about this one nearly as much as we used to
NVDA ~175% off its lows from 18-mo's ago and just went out at fresh ATHs ahead of earnings this coming Friday
The best companies consistently & reliably report good numbers thus we often see results discounted earlier into their price... AMZN is a great example of this as well
After chopping around in a descending triangle pattern for the past 2-months, the 5-Year Yield is pushing back towards all-time lows below 0.30% $FVX
If the recent price action in Financials, particularly the Banks are any indication, prices are likely to resolve lower. Stocks will likely remain under pressure in that environment. XLF KBE
Exploration & Production (E&P) stocks have rallied nearly 90% in just a month and a half but their recent relative strength vs Crude Oil would suggest it could still have much further upside.
The correlation between the E&P vs Oil ratio & E&P Stocks has been very strong historically and is recently at its lowest level of all-time.
In order for this relationship...
The way we see it, there are 2 major uptrends in place that are hard to ignore:
1. US over World
2. Mega-Cap Growth & Tech over everything else in the US
This might seem quite obvious to some of us, but these charts are an important reminder nonetheless. Notice how these trends are nothing new, they've each been in place for almost 20-yrs and are showing no...
Nothing but new highs in Tech vs Financials... Not likely to see a reversal in the trend of growth over value if this ratio keeps trending higher. $XLK > $XLF
Click the related idea link to see our long term chart of Broker-Dealers & Exchanges. This important and leading subsector is now trapped beneath significant overhead supply So are Banks, both of which are...
A lot of holdings in the Online Retail ETF made new highs last week. This hot group of stocks has shown remarkable outperformance recently as $IBUY continues to make fresh all-time highs relative to the S&P $SPY
$NFLX is one of the components pressing on fresh highs - See the related idea link for the chart we posted of it last week.
Hearing much buzz about the fresh relative lows for Utilities and Financials vs the S&P 500 $SPY this week... these relative trends typically don't move together so at some point one is likely to give...
Considering the underlying downtrend in Financials vs Utes, my bets on Fins underperforming and $XLF breaking to new lows vs $XLU... This is likely to happen in...
After showing considerable strength during the selloff Communication Services are resolving higher from a ~2yr base relative to the S&P 500... $XLC / $SPY
Might have something to do w/ the fact 60% of holdings are from the Internet & Software Services industry... $GOOGL $FB $NFLX $IGV $XLK
If Oil and Interest Rates can trade BELOW zero... $GE can at least trade CLOSE to zero. Definitely not something we're betting on, but anything is possible these days. Price is breaking down from an 18-month range below key lows around $6. A measured move of this pattern breakdown targets prices below NEGATIVE 1 for what it's worth.
This is a monthly chart of the Latin American 40 ETF. Price just violated critical support at the 2008 and 2015 lows. Downside risk is elevated as long as $ILF remains below the overhead supply at this $20 level.
Stocks and Bonds have been grinding higher together off the March lows, but it looks like that relationship may be coming to an end as $TLT is looking more and more like a rounded top while $SPY continues to work out a constructive bottom and make higher highs... Watching closely as this can change fast with the resilience in bonds making us wary of the recent...
The last time Natural Gas bottomed around its current level was in the spring of 2016... it went up 150% by the end of the year. Now that Natty just broke through key prior highs at $2, will we see a similar rally? $NG_F
This is one of the chart levels on our bull market checklist for premium subscribers. If B/D's & Exchanges remain below 57, we can't be long the space. This has been the strongest industry within Financials. If they lose leadership, look out below $XLF $IAI
FAANG stocks continue to do whatever the hell they want regardless of the broader market... $FB $GOOGL $AAPL $AMZN. Here is Netflix $NFLX. Is this a failed breakout? Or a bull flag? Or both? We'll know soon!
"Lean Hogs, Fat Profits" is what we titled this chart in last week's institutional note. Prices have ripped nearly 60% in just two weeks and are now approaching our objective at the 38.2% retracement and 2H 2019 lows. $HE_F
I think the collapse in Cheese futures is being under-covered here. Prices were just cut in half and momentum registered a sub-3 reading on the daily RSI-14. Not something you see every day. No wonder Domino's Pizza is doing so well $DPZ $CSC_F