Downgrading Health Care to Underweight Our outlook remains bullish following the S&P 500's multi-month base breakout above 5670-5783, alongside constructive market dynamics. The market is quite clearly telling us that the path of least resistance is higher. We would treat any pre-election pullback (if it comes) as a buying opportunity, and we expect to see support on the SPX at 5760 and 5655-5670. The prior two election years (2016 and 2020) saw 5% and 10% pullbacks, respectfully, during Septem...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
S&P 500 Testing 4165-4200, DJIA Testing 34,280 We continue to recommend a tactical overweight to defensives (Staples, Utilities, Health Care, and gold miners) as the S&P 500 tests our 4165-4200 resistance range, and also resistance from the prior 1.5-month uptrend that was broken last week... see chart below. Moreover, as we await Wednesdays FOMC announcement, the Dow Jones Industrial Average (DJIA) is testing 1-year resistance at 34,280, the Nasdaq Composite is testing key resistance at 12,300...
Rally Continues Following Breaks in USD & 10-Yr Yield Our Russell 2000 (IWM) and S&P 500 targets for this rally have been the 200-day MAs, coinciding with YTD downtrends. The Russell already hit this target while the S&P is closing in, less than 1% away. Still, the vast majority of signals point to further upside ahead for the market indexes. These same signals also suggest a possible end to this bear market, something that we have said would be the case if the IWM and S&P 500 can break above (...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
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