David Cox, CMT, CFA
@DavidCoxRJ
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Portfolio Manager, Raymond James Ltd. Technical swing & trend trader. Classical music enthusiast. /*********/ https://t.co/sxJMlG0RV1 https://t.co/cHKcUUT16f
Waterloo, ON
Joined December 2011
522 days ago, i pinned this tweet after the $QQQ made "a top"... it turned out to be "the top". but today, we closed above those highs as even the buy and holder was made whole, finally. i'll find something else to pin soon...
you can call it whatever you want to call it, but I call yesterday "a top" in $QQQ - now we just need to know if that top will be exceeded this week, next week, next month, or?? the RSI(5) bearish divergence was very visible into yesterday...
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meanwhile, as the S&P 500 $SPX sits on the precipice of new highs... a lower low (to go with lower highs) = downtrend for stocks vs. gold chart (right)...
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ARK Innovation $ARKK growth stocks making new highs before the S&P 500 $SPX - sounds, smells and looks like bull market activity...
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gold vs. silver 35 years... gold relatively expensive...
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@yungmamba_ come on! it's been a bear market for bonds for 5-years! the bull market lasted 40 years, keep an open mind!
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there are 129 mid-cap (and smaller) stocks hitting the 52-week new highs list today... there are 119 mid-cap (and smaller) stocks hitting the 52-week new lows list...
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there are 70 large-cap stocks hitting the 52-week new highs list today... there are 13-large-cap stocks hitting the 52-week new lows list...
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sometimes boring, slow models make things easier... we haven't had any action on the weekly 13/34-week EMA S&P 500 $SPX model since 2023...
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stocks $SPX vs. bonds $TLT a back of the room test so obvious that we're reminded that no advanced degrees in economics, statistics or math are required...
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technology $XLK vs. financials $XLF a pretty standard lower highs and lower lows downtrend...
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perhaps the @federalreserve should try raising rates to bring $TNX yields down given the recent reduction cycle has put upward pressure on rates... sometimes unconventional methods are needed?
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10-year yields $TNX weekly we're sitting 5-weeks with falling #MACDhist as a bullish bar develops, time to change direction?
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falling share prices and 16-year lows are correlated to these types of headlines and events... $BCE
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checking in on the drawdowns of three of the quantum stock leaders from $QTUM since that rather ugly Jan 8th gap down day...
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Coinbase $COIN is reporting earnings today weekly chart shows the recent breakout and tight consolidation since... what will investors do next?
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the $TSX can be an odd market (given its concentrated sector exposures) but right now, it's materials $XMA and technology $XIT driving the relative strength bus... financials, utilities, energy and dividends falling...
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