A Monday Dozen

The thing to do is watch the market, read the tape to determine the limits of the get- nowhere prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction. ~ Jesse Livermore

Every weekend I scroll through probably 100+ charts. I figured I’d try sharing a dozen of the more interesting ones that catch my eye. Let me know if you find any value in this.

1. USDCAD has broken below a major support line (chart is a weekly).

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2. Small-caps (IWM) bounced off their lower Bollinger Bands this past week (chart is a weekly).

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3. As did crude (CL_F) (chart is a weekly).

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4. Crude’s skew is at extremes suggesting a bottom is near (chart via @MacroCharts).

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5. Total spec positioning in commodities futures at RECORD low levels (chart via @MacroCharts).

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6. 10-year USTs (ZN_F) are trading above their monthly Bollinger Band. Reversal coming soon?

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7. Consensus Inc. UST 10yr bullish sentiment nearing overbought levels.

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8. AAII Net Bull/Bear Sentiment near Dec 18’ lows despite recent rally in stocks.

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9. Investors continue to pile into credit after record outflows in December. This is a bullish sign for stocks as credit tends to lead equities.

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10. NAAIM Exposure Index shows that investors are not buying this rally.

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11. Morgan Stanley’s US Cycle indicator recently entered the “Downturn” phase.

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12. Silver (SI_F) broke out of a descending wedge last week on strong volume. Commercial hedgers are net-long silver for only the second time in history.

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Disclaimer: All statements are solely opinions and are for educational purposes only.

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Comments

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Dieudonne DJIMI 4 years ago Member's comment

Love it. Thanks