I only live about an hour from New York City, but it was my first time back since March 2020. It felt good.
Manhattan had been my home for over a decade before I moved to California in 2015. I've been back on the East coast now for about a year and a half, but haven't been able to enjoy NYC for obvious reasons.
It was good being back. The sushi there is on another level. You don't get that sort of thing in the suburbs.
Anyway, I dropped by to see my friends at Ritholtz Wealth Management to talk all things markets, technical analysis, finding the strongest stocks and how the Heat & Knicks did in the offseason.
The good folks at Stockcharts.com put together a fun panel and asked each of us to bring 2 charts: Which one tells the story of the first half the best? And which chart am I watching most as we head into the second half?
I've been friends with Jay Woods for a long time and I'm now getting to know John Kosar's work, and I can tell you these are some smart dudes. You want to listen to what these guys have to say.
It's always nice to sit down and talk about what the future is going to look like.
Currently, the largest hotel chain in the world doesn't own any hotels (Airbnb). The largest taxi cab company in the world doesn't own any taxi cabs (Uber).
Will the largest bank in the world not own any banks? Howard Lindzon says yes, "Banks aren't dead, they're walking dead".
This was fun. I learned a lot.
It gives me more reason to keep an eye on opportunities in the Crypto Markets.
I'm a chart guy, as you're all well aware. Price drives all of my decision making. But if you're interested in what's happening behind the scenes (I am), then this one is for you!
The DeFi Revolution is upon us, at least according to Jim Bianco. For many years, I've looked up to Jim and the work he's been doing at Bianco Research and, in fact, he's the one who first inspired me to rip through hundreds of charts during my live presentations in order to get my points across. It took me about a decade to realize it, but it was him who I got that from.
Fast forward to 2021, and the Macro Technician who I've always admired has turned into one of the leading voices of what's taking place in DeFi, or "Decentralized Finance". Who better to talk to about what's going on than Jim himself? Ethereum, Bitcoin, Dogecoin, Yield Farming, Metamask Wallets, Coinbase....the whole thing.
On this week's episode of Bearish or Bullish, we talk about Year 2 of Bull Market cycles for stocks. Is this one those? Like 1976, like 1983, like 2004, like 2010?
What about Ethereum continuing to hold its breakout? Why is Ether doing so much better than Bitcoin?
Financials and European stocks breaking out of historic bases?
European Super Leagues? The Knicks don't suck?....what the heck is going on around here?
Last night I popped into BNN Bloomberg to talk about what's going on in the market.
We're seeing new highs across a lot of major indexes, but what's happening underneath the surface?
We've been seeing the price of lumber soaring along with things like Steel and Rebar futures. It's the whole demand/building/growth theme that continues to stand out.
One thing that's definitely worth watching is the All Country World Index Ex-U.S., which is basically a snapshot of what the rest of the world looks like. And you'll notice that the index ETF $ACWX is stuck right between its 2008 highs and 2018 highs.
This puts the global stock market in quite a predicament. If you're bullish equities, you're going to want to see a breakout through those historic 2008 highs. If you're bearish equities, this is one you want to see break back below those 2018 highs.
This morning I popped on to Yahoo Finance to chat with Jared Blikre about this rotation out of Growth stocks and into Value. It's going to be hard for people to wrap their heads around buying old dirty energy companies and the banks that they hate so much.
You can't save the world through your portfolio. It was fun watching people try.
That's over, but still hilarious when looking back on it.
Every month we get a fresh batch of Monthly Candlesticks. It only happens 12 times a year.
I promise you guys from the bottom of my heart that there is no other part of my entire process that provides as much value and information as my monthly chart review. Premium Members can access the Chartbook here.
In the meantime, my friend Josh Brown and I have been doing these short monthly videos since last summer.
On the latest episode we talk about the historic breakout in Financials, the rotation into Value and out of Growth, what this means for interest rates and how that affects the global intermarket landscape.
