Red Hot China Attempting Key Breakout, Says Joe Friday
China ETF (FXI) has been "Red Hot" of late? Is it about to run out of steam or will it remain on fire going forward? This chart of FXI comes from Investors Business Daily and Marketsmith.com. It reflects that FXI is above key long-term moving averages and its RS...
Tech Experiencing A 20-Year Breakout, While Small Caps Are Near 20-Year Lows!
Successful investors are often rewarded by owning strength and avoiding weakness. Could two key sectors be experiencing 20-year strength and weakness extremes at the same time? Yes! The NDX 100/S&P ratio (left above) is currently experiencing a 20-year breakout at...
Here’s Why QQQ and Large Cap Tech Stocks May Rally Another 10%!
The long-term trend for large-cap tech stocks remains strongly in place. And despite the steep rally out of the March lows, the index may be headed 10 percent higher. Today’s chart highlights the $QQQ Nasdaq 100 ETF on a “monthly” basis. As you can see, the large-cap...
Shangai Index Soars Higher, Testing 11-Year Breakout Level!
Is the Shanghai Index (SSE) about to experience a long-term breakout and send the world a bullish message? An 11-year breakout test is in play that will answer this question. The Shanghai index trend continues to send a bullish message, as it has created a series of...
Nasdaq 100 Relative Strength Testing 2000 Highs
The tech bubble didn’t end well. BUT it did tell us that the world was shifting into the technology age… Since the Nasdaq 100 bottomed in 2002, the broader markets have turned over leadership to the technology sector. This can be seen in today’s chart, highlighting...
Gold / Dollar Ratio Sending Bullish Message To Gold Bugs!
It’s been a good year for gold bugs! Gold has outperformed several asset classes as volatility and general economic uncertainty have come back to the forefront. In today’s chart, we look at the ratio of Gold to the U.S. Dollar on a “monthly” basis. Gold bulls want to...
Largest Bearish Reversal Pattern In 20-Years Forming?
Is the New York Stock Exchange Index (NYSE) sending one of the largest bearish messages in years? Possible! This chart looks at the NYSE index on a monthly basis over the past 13-years. The index spent the majority of the past 11-years inside of rising channel (1)....
Banks Could Be Sending An Ominous Warning to Investors, Says Joe Friday
When the economy is humming along, the stock market tends to out-perform. And one sign of a strong economy is a healthy banking sector. On the flip side, when the economy is struggling, the banking sector lags. And this is a drag on the broader stock market. Today’s...
Nasdaq Could Rally 15% More, Before Hitting This Target?
If one thing is true about this crazy bull market, it’s that technology stocks have been the clear leader (and winner). Even the coronavirus crash didn’t knock out the tech sector. The Nasdaq Composite and Nasdaq 100 have come racing back and are the only major US...
Commodity Bulls Are Eyeing Important Currency Market Tests!
The US Dollar sell-off and subsequent rallies in the Euro and Aussie Dollar have given commodity bulls reason to watch the forex and be hopefull. A weak Dollar (and strong Euro / Aussie) tends to be a tailwind for commodity prices. As you can see in today’s chart, the...
