From the desk of Tom Bruni @BruniCharting

Tuesday's Mystery Chart is one of my favorite charts right now, so thank you all for your feedback and participation.

It seems almost everyone was on the same page here, getting involved in some way, shape, or form on the long side.

With that as our backdrop, let's get into it.

From the desk of Tom Bruni @BruniCharting

We look at a lot of charts every week, so it's not surprising that we often come across charts that look "too simple."

A setup we've seen thousands of times or a trend that's reaffirmed itself time and time again, yet I always find myself being skeptical of a chart that looks textbook in nature.

Today I want to take a look at one of those charts.

From the desk of Tom Bruni @BruniCharting

New Mystery Chart!

For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it's a custom index or inverted, who knows!

We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.

You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?

We continue to see prices in the major indices bounce as breadth and momentum divergences remain intact, however, many of the trades we've outlined have moved away from their optimal reward/risk level.

Today we're outlining stocks we can be buying today, or in the near-term.

New Mystery Chart!

For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it's a custom index or inverted, who knows!

We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.

You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?

You've got to love a stock breaking out of a seven-year base and doing so with options pricing in the lowest volatility levels all year. And when it is in a strong sector that has been among the leaders all year, I'm licking my chops.

From the desk of Tom Bruni @BruniCharting

The TSX Composite is peaking its head out above resistance and into the fresh air of all-time highs, but can the recent strength continue?

Today we're looking for answers in two sectors that matter, Financials and Energy, which account for roughly 50% of the index's weighting.

First off, here's the TSX Composite Index breaking to new all-time highs, slightly exceeding its former highs of 16,650. Momentum has yet to get overbought, but if prices are above that level then we need to be erring on the long side with an upside objective of 18,300 over the next 6-12 months.

Click on chart to enlarge view.

From the desk of Tom Bruni @BruniCharting

This morning JC did a review of the S&P 600 sectors to identify the structural trends of the major small-cap indices.

This post is a follow-up to outline a few names that have gotten our attention on the long side.

In this Episode of Allstarcharts Weekly, Steve and I talk about the fact that the only sectors making both weekly and monthly all-time highs are Consumer Staples, Utilities and REITs. That's not exactly the type of leadership one might expect to see in a strong bull market, leading many to believe that it is not, and therefore we should be selling stocks. My argument is that while on paper, yes, technically those ARE the only ones making new "weekly AND monthly" all-time highs, sectors like Technology, Consumer Discretionary and Communication (heavily weighted $FB & $GOOG) are just a stone's throw away from doing the same. These are all far from "Defensive" sectors. I think the positive rotation continues and these sectors play catch-up.

From the desk of Tom Bruni @BruniCharting

There are a lot of messy charts out there, but we've been discussing the importance of having a global perspective and using weekly/monthly charts to stay focused on structural trends as opposed to the day to day noise/chop we've been experiencing.

Today we want to look at an area showing relative strength that's still offering opportunities for those who need to put cash to work.

This post is going to update some key levels in the Commodities we've been watching/participating in.

From the desk of Tom Bruni @BruniCharting

Thursday was an important near-term inflection point for several major asset classes.

This post is going to cover what's moving, why we're taking notice, and what it could mean going forward.