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Top Advisors Corner

Mary Ellen McGonagle: Biotech Stocks Are Heating Up Again - How To Play The Move When The Fundamentals Aren't There

by Mary Ellen McGonagle

It’s been quite an explosive start to the New Year with a broad-based rally that has close to 200 stocks in the U.S. markets up 10% or more so far after only 8 days of trading. Dominating this list of top performers are many Energy and Medical related stocks with the highest gaining sub-group both in number of stocks and percent improvement year-to-date being in Biotechnology stocks. While the move into these highly speculative Biotech stocks points to an improved appetite for risk among already bullish investors, these stocks can be hard to embrace simply because the financials are Read More 

Top Advisors Corner

Tom McClellan: The Chart That Worries Me: HY Bond A-D Line

by Tom McClellan

There is no divergence yet between stock indices and the NYSE’s composite A-D Line.  But there is one in the High Yield Bonds A-D Line, and that is an early warning of big trouble to come. High yield bonds usually trade more like stocks than like T-Bonds, and so that has led a lot of analysts to keep an eye on junk bond ETFs like HYG and JNK, especially if they show a divergence relative to stock price indices.  Those ETFs tend to be dominated by high yield bonds that are related to oil exploration, and so the price of crude oil can move them around a bit. Read More 

Top Advisors Corner

Tom McClellan: Gold in Euros Not Confirming

by Tom McClellan

Since bottoming on Dec. 12, gold has had an impressive run higher, closing up on 13 out of the past 14 trading days.  Or at least that’s true for gold prices measured in dollars.  But gold prices measured in euros have had a much more tepid response, and have not even made a higher high yet.  It is not a bad rally in the euro price of gold, but it is not confirming the higher high in the dollar price.  History shows that this is a problematic sign for the gold rally.  Divergences are an important element of technical analysis.  But they Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle January 3, 3018

by Tim Ord

SPX Monitoring purposes;  Long SPX on 12/27/17 at 2682.62. Monitoring purposes GOLD: Long GDX on 12/20/17 at 22.49 Long Term Trend monitor purposes: Neutral. Last Thursday’s report we said. “Tuesday the Tick closed at -216 and yesterday the TRIN closed at 1.42 and a short term bullish combination.”  Added to that, last Friday the Ticks closed at -398 and the TRIN closed at 1.46 and another bullish combination.   On a two hour chart the pattern forming over the last several days appear to be a “Flag”.  “Flag” pattern normally appear at the half way point of the move Read More 

Top Advisors Corner

Tom McClellan: Gold's 8-Year Cycle

by Tom McClellan

We are now entering the upward phase of gold’s 8-year cycle, and that should bring some fun gains.  And this comes at a time when gold has not been getting much of investors’ attention.  If gold stays flat for a year, and Bitcoin twinkles to get all of the attention, speculators eventually drift away from gold.  That sets up a great opportunity for gold to start getting more attention, and more money thrown its way.  As with most market cycles, gold’s 8-year cycle is measured bottom-to-bottom.  But there is more to it than just that 8-year period Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle December 28, 2017

by Tim Ord

SPX Monitoring purposes;  Long SPX on 12/27/17 at 2682.62. Monitoring purposes GOLD: Long GDX on 12/20/17 at 22.49 Long Term Trend monitor purposes: Neutral. Yesterday the Tick closed at -216 and today the TRIN closed at 1.42 and a short term bullish combination. The above chart is the SPX on a two hour timeframe.  The pattern forming over the last several days appear to be a “Flag”.  “Flag” pattern normally appear at the half way point of the move.  If that turns out the case this time, it would give a target for the next high near 2720 range.  Long SPX on Read More 

Top Advisors Corner

Tom McClellan: Architecture Billing Index Shows Continued Growth

by Tom McClellan

December 20, 2017  The folks at the American Institute of Architects, www.aia.org, publish an interesting set of data each month, collectively known as the Architecture Billing Index, or ABI.  The main ABI represents actual billings that member firms have sent out in the previous month.  They also have an “Inquiries Index”, which measures potential business as opposed to actual business. The reason why I find examining the ABI so useful is that it correlates pretty well with GDP data, and we get the ABI data well ahead of the GDP numbers, which only Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle December 20, 2017

by Tim Ord

SPX Monitoring purposes; Sold long 12/11/17 at 2659.99 = gain 1.17%;  Long SPX on 12-6-17 at 2629.27. Monitoring purposes GOLD: Covered short GDX 12/12/17 at 21.40=gain 5.14%; Short GDX on 11/13/17 at 22.56 Long Term Trend monitor purposes: Neutral.   Yesterday a bearish Candlestick pattern called a “Doji” formed and today a bearish “Bearish Engulfing” formed suggesting market has at least stalled.  Today’s test of yesterday’s up gap on lighter volume shows short term support.  The McClellan Oscillator is right at “0” and showing weakness.  There is another gap Read More 

Top Advisors Corner

Tom McClellan: Confidence, and What Comes With It

by Tom McClellan

There is a strong positive feedback mechanism involving consumer sentiment and the economy.  As conditions get better, people get more confident, which causes them to spend more, so companies hire more, which makes people more confident….  That all works until it doesn’t, and then the positive feedback goes the other way, making people get less confident as they see the economy slowing, making them spend less money, which causes layoffs, which makes people less confident…. The University of Michigan’ Survey of Consumers Index of Consumer Sentiment hit Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle December 13, 2017

by Tim Ord

SPX Monitoring purposes; Sold long 12/11/17 at 2659.99 = gain 1.17%;  Long SPX on 12-6-17 at 2629.27. Monitoring purposes GOLD: Covered short GDX 12/12/17 at 21.40=gain 5.14%; Short GDX on 11/13/17 at 22.56 Long Term Trend monitor purposes: Neutral. This is option expiration week and option related indicators carry more weight during this time period.  The chart above goes back near three years and shows the times when the 10 day average of the Equity Put/Call ratio reached .58 or lower.  At best the market went sideways when this ratio reached .58 and at worst produced Read More 

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