Weekly Charts and Watchlist 7/20
Last week's major news, macro charts and what to watch this week
Last week’s major news:
Consumer Price Index showed prices rose at an annual rate of 2.7% in June compared with 2.4% in May
Major bank stocks up as earnings beat expectations
Trump says likely to fire Fed Chair Powell ‘soon’ but then denies report
Bitcoin hit all-time highs, Ethereum and other altcoins ripping higher
The Big Picture:
Here are some broader themes I like to keep an eye on.
Fear and greed index still in extreme greed.
S&P and Naz still sitting at all-time highs
VIX ticked up this week on Powell news
Transports
Industrials
Utilities
Banks
Consumer Staples
Homebuilders
Gold
Nuclear new highs
China
Europe
Emerging Markets
Bitcoin new highs this week
Bitcoin worldwide interest perking up
Mortgage rates ticked up
What I’m watching:
Won’t be at the desk much if at all this week but I’m a degenerate so will be watching anyway.
OPEN - making a big Wallstreet Bets like run. May be interested in a short eventually.
CAVA -finally getting a little pullback. Would like to see a drop to around $80.
TGT - very hated stock now but looks to be breaking out of downtrend channel
WLK - same pattern on Westlake
AOS - further along on the bottoming pattern. Follows housing stocks.
PEP - Pepsi finally broke trend. Maybe the Ozempic pain is finally done.
CLX - Clorox breaking trend
Now for some small caps.
CARV - one of the rare money losing banks spiking on no news. Likes to spike and fully retrace moves.
CYCC - very low float making big moves on no news. May look to short if it breaks higher.
XPON - hopefully moves higher
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