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Top Advisors Corner

Mary Ellen McGonagle: Let Next Cycle's Winners Reveal Themselves To You Now.

by Mary Ellen McGonagle

Studying Action Beneath Markets Surface During A Correction Will Set You Up For Success Once Market Pressures Subside. I’ve been closely following the markets for over 25 years now with my largest stretch taking place while working with top fund managers around the world. That is to say, I’ve seen my fair share of boom and bust cycles and while the current market correction has given us the most volatile month (February) since 2008, there are underlying dynamics taking place that can historically point you to the next cycle’s winners. As stated in my most Read More 

Top Advisors Corner

Tom McClellan: A Follow-Up On 3 Charts

by Tom McClellan

We are at a fascinating turning point in the market’s path, and it is worth reviewing some recent Chart In Focus stories to see how they turned out, and to look at what might lie ahead.  I usually refrain from doing reruns, but in each case there is new information that I find interesting, and which I have already shared with our McClellan Market Report and Daily Edition subscribers.  I hope you will find them interesting too.  So here goes.  Back on Feb. 15, I wrote about “Stock Market In a Rogue Wave”.  Rogue waves are a rare and Read More 

Top Advisors Corner

Scott Carney: Steel is the Real Deal

by Scott Carney

With the recent news about tariffs on imports, US steel stocks may benefit over the long run. Currently, the news situation has a market catalyst to send US steelmakers there. Companies such as X and AKS have stabilized over the past year and exhibited signs of structural recovery. Although I focus less attention on news items and analyze harmonic M and W-type price patterns to define opportunities, the recent surge of price action has triggered key levels that indicate there is more to the story than a single headline. US Steel (X): Weekly Failed Bearish Bat Read More 

Top Advisors Corner

Tom McClellan: It's the Fed, Yanking The Punchbowl

by Tom McClellan

March 02, 2018 We were having a perfectly nice low-volatility uptrend until Jan. 26, and everyone was happy.  Since then, the inverse VIX ETN known as XIV has blown up (a great case of a “burning LOH” marker), and traders are starting to remember that stock prices actually can go down.  So why now? As with most bear markets and recessions, the blame goes to the Federal Reserve, which decided last year that it would start unwinding all of the QE buying of T-Bonds and Mortgage Backed Securities (MBS) that it had bought up from 2009-14.  Last year, the Read More 

Top Advisors Corner

Tim Ord: The Ord Oracle February 22, 2018

by Tim Ord

SPX Monitoring purposes; Long SPX on 2/20/18 at 2716.26. Monitoring purposes GOLD: Neutral. Long Term Trend SPX monitor purposes: Long SPX on 2/8/18 at 2581.00. The above is a 60 minute chart of the SPY.  A consolidation pattern appears to have formed from Friday’s high to today’s low.  A gap formed on February 2 near the 280 range on the SPY and could be a magnet where market is heading.  A bullish combination of the  TRIN and Tick  but can come early a day or two before a low, but does suggests the rally is not done.  Entered long SPX on 2/20/18 at Read More 

Top Advisors Corner

David Keller: Scrutinizing Sectors

by David Keller

As the S&P 500 teases the upper end of the 2530-2750 range, the S&P sector charts are providing some clarity on market leadership. Even with all of the recent volatility, the S&P 500 has remained neatly between its 50-day and 200-day moving averages.   With the S&P again testing its 50-day moving average, I looked at the sector charts to get a sense of leadership during the last few weeks. Out of the 11 S&P sector ETFs, only three are clearly above their 50- and 200-day moving averages- Consumer Discretionary (XLY), Financials (XLF), and Read More 

Top Advisors Corner

Tom McClellan: Stock Market In a Rogue Waver

by Tom McClellan

 The stock market is just coming out of a big rogue wave event.  And that gives us clues about what lies ahead. The term “rogue wave” gets used in other areas of science, most notably in analysis of big waves in the ocean.  But they can occur in any medium where wave action is present, not just the ocean.  They have even been observed in the transmission of light waves through fiber optic cables. Rogue waves in the ocean get a lot of attention, especially from ship designers who need to make a hull and keel that are strong enough not to be broken Read More 

Top Advisors Corner

Tom McClellan: Big Change In Bull-Bear Spread

by Tom McClellan

 The latest data from Investors Intelligence showed a huge change this week.  Bulls dropped from 66% to 54.4%, and bears rose from 12.6% to 15.5%.  That means the spread between bulls and bears dropped by 14.5 percentage points, which is the biggest one-week drop since July 2011.  Drops of more than 6 percentage points usually mark washout bottoms for prices.  That July 2011 drop in the bull-bear came as prices crashed down 19%, following the sudden cutoff of QE2.  And there was a similar 14.5 percentage point drop in May 2010, the week of the Read More 

Top Advisors Corner

Mark S. Young: Wall Street Sentiment-- End of the Bull! Er, Maybe Not!

by Mark Young

In our last submission, I said that in a nutshell, everything looked great, with the trend up, the market making new highs, improved growth, and Market Breadth very strong. I also noted that those who lend money to companies in the financial industry were commanding exactly ZERO extra risk premium on money loaned over non-financial companies -- meaning that there was very little chance of something going wrong behind the scenes in the financial industry. I was thinking that with some excessive Bullishness at AAII and some negative seasonality, there was something of a set up for a little Read More 

Top Advisors Corner

Mary Ellen McGonagle: Correction or Bear Market?

by Mary Ellen McGonagle

“Using Longer Term Charts Along With Certain Indicators Will Provide Insight and Perspective.” It’s been a tough couple of days for the markets with declines (before today’s open) over the last 6 days of trading amounting to 6% for the S&P 500 and 7% for the more concentrated Dow Jones Industrial Average. And based on the price action into the close today, the markets appear to be headed toward further downside tomorrow. While all of this has some investors in a panic mode – Vanguard’s client computer servers apparently crashed yesterday with all of the increased traffic – Read More 

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