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Top Advisors Corner

Tim Ord: The Ord Oracle November 6, 2018

by Tim Ord

SPX Monitoring Purposes: Long SPX on 10/22/18 at 2755.88. Monitoring Purposes GOLD: Long GDX at 18.72 on 8/17/18 Long Term Trend SPX Monitor Purposes: Long SPX on 10-19-18 at 2767.78 Today’s SPY rally tested the high of three days ago on lighter volume, suggesting resistance. There is a gap below that was tested three days ago on higher volume, which suggests that gap could be tested again which comes in the 270 range. Not sure if the market will pull back and test the gap, but if it does we expect the gap to hold and reverse back to up. There is evidence that market may Read More 

Top Advisors Corner

W.H.C. Bassetti: The Long View of the Market with Basing Point Stops...

by W.H.C. Bassetti

This chart clearly shows the break of the 2016 trend line. Below we will examine the placement of long term Basing Point stops. http://schrts.co/tfJisN It is always wise to know where the long term stops (calculated from Basing Points) are located. In this chart, the horizontal lines represent stop locations depending on the Basing Point you choose. In our opinion the lower line (2429) is the signal that the bull market has broken. Nevertheless the upper line (2537) is a valid stop level also. So if the risk between the present price Read More 

Top Advisors Corner

Tom McClellan: AAPL Still Following Its Quarterly Pattern

by Tom McClellan

We are in a time when “normal” relationships are not working, and when any slight hint of misperformance is getting punished. So it is fascinating to see that AAPL’s normal quarterly price behavior pattern is still “working,” something I discussed here back in August.  AAPL’s share price has a pretty regular pattern which plays itself out over each calendar quarter. Apple Corp. releases its quarterly earnings report usually on the 1st day of the month, one month after the end of the calendar quarter, and so the next one is due out Nov. 1.  In Read More 

Top Advisors Corner

W.H.C. Bassetti: Gamma wave -- or Alpha Wave???

by W.H.C. Bassetti

http://schrts.com/QNzSzd Readers might think we are in the gamma wave from our immediate past comments. That could be a bad mistake. Note that the market is resting right on a trendline from February and is solidly under the 50 and 200 day moving averages. At the moment we are of the opinion that this is not the gamma wave, but the continuation of the alpha wave. That is an extremely serious statement. To avoid predicting the future we will avoid embarrassing forecasts, but it is clearly true that the market has taken a serious wound. In the recent past we have spoken Read More 

Top Advisors Corner

Tom McClellan: NDX Stocks Showing the Oversold Condition

by Tom McClellan

The bearish seasonality of July to October got put off until the last minute, and now the stock market has tried to do 4 months’ worth of work in just a couple of weeks. One result of that cramming at the last minute is that a pretty deep oversold condition has arisen, which is evident in a variety of indicators, including this week’s chart. As of Oct. 24, only 13 of the 100 stocks in the Nasdaq 100 Index are currently above their own 100-day moving averages. In case you’re wondering, those 13 are AAPL, CA, CDNS, CHTR, COST, ESRX, HSIC, ORLY, ROST, SBUX, TMUS, ULTA, and Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle October 24th, 2018

by Tim Ord

SPX Monitoring purposes; Long SPX on 10/22/18 at 2755.88. Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18 Long Term Trend SPX monitor purposes;  Long SPX on 10-19-18 at 2767.78 The bottom window is the 21 MA of the Equity Put/Call; next window up is the 10 MA and next up the 3 MA. We have drawn boxes around the times when all three Equity Put/Call ratio moving averages were in bullish levels (which is on the current timeframes). This condition suggests the market is in an intermediate-term bottom pattern. Yesterday we said Read More 

Top Advisors Corner

Mary Ellen McGonagle: Correction or Bear Market? Using Longer Term Charts With Certain Indicators Will Provide Insight and Perspective

by Mary Ellen McGonagle

It’s been a tough month for the markets with declines of over 6.5% for the S&P 500 and 8.3% for the Nasdaq. And based on the recent price action overall, the markets appear to be headed toward further downside over the near future. While the recent break in the markets has some investors in a panic mode, it’s at times such as this that keeping a cool head will serve you well. Taking action in a panic is an emotionally based action that is generally not a good idea. Instead, let’s use history as a guide to gain perspective on the current action and help you formulate a plan for Read More 

Top Advisors Corner

W.H.C. Bassetti: Time to wait...

by W.H.C. Bassetti

Editor's Note: This article was originally posted in Technical Analysis of Stock Trends on Monday, October 22nd at 1:18am ET. http://schrts.co/QNzSzd As is perhaps not obvious (though much much discussed) the management of risk is the most important task of the investor and trader. The naive might look at the present formation and say "here's a chance to pick up some bargains." But because of the unfinished nature of the formation he might be buying a pig in a poke -- or worse an IED in a poke. When you can't see a clear path for Read More 

Top Advisors Corner

Tom McClellan: 4 Years Ago, and Again Today

by Tom McClellan

Four years ago, we had a remarkably similar market price action to this year’s. And that makes no fundamental sense, since all of the factors which should matter are different. Four years ago, the Fed was still doing QE3. That program was winding down, but in October 2014 the Federal Reserve still added another $24 billion to its balance sheet. Contrast that to October 2018, when the Fed is unwinding its balance sheet at a stated rate of $50 billion per month. Four years ago, the U.S. was in the middle of President Obama’s second term, facing a Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle October 17, 2018

by Tim Ord

SPX Monitoring purposes; Neutral. Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18 Long Term Trend SPX monitor purposes; Covered short SPX on 10/10/18 at 2785.68= gain of 3.46%; Short long term on 10/5/18 at 2885.57. Ideally, we would like to see a retest of last Thursday’s low and there is a possibility that may happen. For one, last Thursday’s low had high volume, which is usually tested at some point. Also, the 3-day TRIN did not reach levels associated with longer-term lows (especially the degree of the decline). Above, in the bottom window, is the Index put/call Read More 

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