Did you see how many stocks made new lows this week?
It wasn't many.
When you look at how dramatic people have been about a few stocks selling off a little bit, you would think that an actual correction might be taking place in the market.
But if you thought that humans act logically, then you clearly don't know humans.
Irrational behavior is actually the only thing that the market guarantees. And you saw it again this week.
I mean, you didn't even get an expansion of stocks making new lows!
This was nothing.
All you have to do is go and count. You'll quickly see how the new 52-week lows list is almost non-existent. In fact, you saw fewer new 52-week lows on the NYSE this week than you did in early August.
But if you look even shorter-term, say new 3-month lows, you didn't seen any sort of expansion there either.
Look at the total new 3-month lows among Large-caps, Mid-caps and Small-caps.
I'm back from a few days away and boy do we have a lot to discuss.
I hope you enjoyed the guest posts over the past week from some of the key members of our team.
It's good that you get to know some of the other guys so you don't think I'm just some crazy guy who looks at a million charts. There's a lot more to it than that, and hopefully that came across this week.
But first thing's first. This is a bull market for stocks and people seem to be running scared. They're freaking out.
I'm out of town this week. So in lieu of the usual daily note, we've arranged for guest posts written by each of the members of the All Star Charts research team.
I'm out of town this week. So in lieu of the usual daily note, we've arranged for guest posts written by each of the members of the All Star Charts research team.
It’s day three of the ASC Research Team covering for me while I’m away.
You've already heard from Sam and Louis. Today, you’re meeting one of our newest team members with a great trade idea for you…
Show him some love.
JC
Can't Miss This Trade
Hi, I’m Jason, one of the newest traders to join the All Star Charts team, and I’m pumped to be here.
Who in their right mind hires a guy who used to get paid to do backflips for a living?
Oh, right… JC would. Because, let’s face it, everyone needs a gunslinging CTA (Futures Trader) in their life.
My story? Not exactly what you’d call “traditional.” I started as a professional athlete and my great great uncle taught me more about trading and economics than he probably realized.
But life doesn’t always play fair. I took some hits, like rupturing my spleen, battling a bone infection, and going through not one, not two, but FIVE knee surgeries.
Our series of guest posts written by members of the All Star Charts research team continues...
Today's note is from our Senior Crypto Analyst. If you're not following what's been going on in crypto, you're missing out...
-JC
The Goalposts Are in Another Dimension
Kia ora!
I'm Louis Sykes, the Senior Crypto Analyst here at All Star Charts.
When JC casually dropped that he was escaping to Disney World for an entire week, I thought he was pulling my leg.
An entire week?
At Disney World?
As a humble Kiwi where our idea of a theme park is basically a few rides and a half-day commitment, this sounded like some parallel universe of leisure.
We'll be streaming LIVE today on Stock Market TV with The Best Morning Show in Finance. This is where we talk about which stocks are moving, the major themes in the market, and what we're doing about it.
Today's guest is our in-house Quantitative Strategist Grant Hawkridge.
Grant joins us from the other side of the world in Australia. So let's all give him a warm U.S. welcome!