A fresh leg higher is currently underway as momentum picks up across the board.
This is especially true for the most speculative growth stocks. Whether you look at ARK funds, cloud computing, fintech or mobile payments, all these groups are reversing their trends and embarking on new uptrends.
When it comes to individual issues, no chart has my attention more than Block Inc $SQ right now.
Just look how clean this rounding bottom is, and it hasn't even broken out yet.
Today is Election Day in the U.S., and while the spotlight is on the political arena, this is the perfect time to ignore the noise and focus on what really matters.
When it comes to seasonality, some of the best signals that we get are when the market does not follow the historical pattern or seasonal trend.
The chart below shows the S&P 500's average monthly returns during election years.
Consumer Discretionary stocks are a reliable gauge of risk appetite and market health.
Consider these as automobiles, retail, and homebuilding—industries that offer products and services consumers purchase with their discretionary income.
When investors favor these stocks, it indicates a higher level of risk-seeking behavior.
One simple way to assess them is by comparing their performance to the broader market.
The chart below illustrates Large Cap Consumer Discretionary Sector relative to the S&P 500, potentially forming a major 10-year top.
Typically, a strong dollar would suggest a defensive tone for risk assets. But not this time.
Despite the dollar's impressive run, equities are holding their ground and showing serious resilience. Just last week, the S&P 500 closed at all-time highs.
And when you dig into the chart, DXY is still stuck in the middle of a range