Charts that matter #1

U.S. Indices at All-time highs

A roundup of charth and graphs, useful for your investments. I will post this section whenever I have interesting charts.

1. U.S. equity indices just reached fresh All-time Highs

Nasdaq technical structure is very interesting: the breakout of the resistance at 14.2K looks bullish. I just hope is not a false signal…

Even the S&P 500 upward trend is still in play. Last week reaction to the FED meeting is promising.

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2. Europe: I am going to join the party

Eurostoxx 50 trend looks still healthy and with more upside ahead. Time to reach new highs here too?

3. Sources of concern

Nasdaq is at ATH, but the number of stocks above their 50-day average is below 50%, as showed by Sentiment Trader. Other times it led to temporary corrections….

Short positions on S&P 500 are rising. So far bears are suffering, and I hope they will suffer more.

Daily cases of Covid in U.K. are rising again, because of the new Delta variant. So far the hospitalization are not growing noiceably, thanks to vaccine, but it is worth to give a look everyday.

4. Correlations

When you invest always remember that asset classes are correlated, and correlations change costantly. Here a fresh update of 1 year daily correlation of some notable asset:

Bond and stocks are not correlated anymore?

5. Amazon: where the flat market happens

Amazon is one of the fastest growing companies, but the stock is locked in a range from many months. It seems that another try to break the resistance failed. I see buy levels on the lower bound of the range or on the breakout of the resistance.

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Have a great weekend!


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