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Just to shift gears, I’ll offer something somewhat bullish (although I don’t mean it for a second).
The emerging markets, mentioned here incessantly on Slope, have been extraordinarily chart-able for 2018. That’s plain to see from the tints I have provided below. At the moment, my eye is on that yellow since, which for the third day appears to be providing support.
Hey Gang! I’ll work out some kind of a standard format for my posts soon, but I would always like to present a trade together with a plan for the stop, profit, and target.
I don’t have a ton of time so here’s the trade. Healthcare is the 2nd strongest sector determined by its bullish percent index rank (currently at 84% P&F buy signals). It’s a simple, but effective way to rank sector strength. The only stronger sector is utilities at 89% P&F buy signals. If you’re not familiar with Point & Figure charting, it’s basically a way of taking time out of the chart and displaying only the price moves. Being on a P&F buy signal means that the chart is making higher highs and higher lows.
I looked at the top 10 holdings for XLV and JNJ stood out for me as being in strong condition and a stone’s throw from its highs. It is clearly making higher highs and higher lows within an established channel and has broken a short-term downtrend line. Details are on the chart, but this trade risks approximately .50c to make $6. (more…)
As I sit here on Sunday night, enjoying my pizza from Delfina Pizzeria, I’m waching the screen turn green, to the delight of equity bulls, now that NAFTA is going to survive. Only recently did it seem Canada was going to get left out in the proverbial cold, but the three countries of North America are all buddies again, and the ES is ripping higher.
Good morning, Slopers. It’s quite odd – – we had an enormous surge in traffic yesterday – – and I have no clue where it came from. It’s not like the market was collapsing (which tends to attract a lot of rubberneckers). Oh, well. I appreciate the interest in any case.
It seems to me the United States “full faith and credit” Dollar could be in for a turning point. By way of the UUP, shown below, we can see prices have slipped beneath the 50 and 100 day EMA, and the averages seem to be pivoting at an inflection point. As long as UUP stays beneath that red horizontal, it looks to be in decline mode.
Let’s face it, I don’t make many long suggestions on Slope, but ROKU has been an exception. This just keeps on doing what it’s supposed to do.
Today started off super-rough, but by the closing bell, everything was solid. This is quite peculiar, because the market itself didn’t change that much during the day.
I’ve become kind of Slope-obsessed lately, so you’ll continue to see improvements both on the site and on the products therein.
Words fail me.
There are a couple of seemingly unrelated events approaching. First, in a few weeks, there is the 17th anniversary of the terrorist attacks of September 11 2001. Second, it seems nearly inevitable that Amazon will become the world’s second trillion dollar company, following in AAPL’s footsteps. I guess they are going in alphabetical order.
I was curious what the cheapest price Amazon was after the Internet bubble burst. It turns out it was on October 1, 2001. I was struck by that date, because it was so soon after the attacks. I decided to look at what Amazon did when the market reopened after the attacks, and I’ve tinted it below. As you can see, it’s pretty much a blip. Within a couple of weeks, it got down to $5.51, and it hasn’t looked back since. (It’s approaching $2,000 now).
Surely my least favorite kind of post to offer, but when in Rome…….
Before I begin, I want to mention we’ve substantially improved the quality and speed of our real-time index data, so you SlopeCharts users will immediately start enjoying the improvement.
I promise to only mention it a few thousand more times, but please note my new book has out (which just got its first review!) so please check it out.
As for the markets, it’s pretty much what I predicted/dreaded last Friday, which is a continuation of the “melt up”. Barring some shock event (e.g. China announces the U.S. can go screw itself, and the trade war is back on) it seems the natural path of the market is simply going to be higher – – – which, let’s face it, makes sense, since it has only been going continuously up for the past nine years. Volatility is, once again, completely dead, which makes for a market more boring than words can describe:
