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Lift Off! Aerospace and Defense Stocks Showing Multi-Year Breakout

In this edition of StockCharts TV‘s The Final Bar, guest Jeff Huge, CMT of JWH Investment Partners highlights one industry within the Industrial sector showing a multi-year breakout, and lays out the bull case for gold in 2024. Dave reviews travel and tourism charts, speaks to the strength in value stocks over growth stocks, and highlights strong upswings for Alphabet (GOOGL) and Advanced Micro Devices (AMD).

This video originally premiered on December 7, 2023. Watch on our dedicated Final Bar page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The Final Bar premiere every weekday afternoon LIVE at 4pm ET. You can view all previously recorded episodes at this link.

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Stocks

Useful Directional Indicator Criteria for Your Success as a Trader!

On this week’s edition of Stock Talk with Joe Rabil, Joe shows the 2 criteria he is looking for in directional indicators to determine when the buyers or sellers are taking command. He explains how this signal can be used to your advantage in both analysis and trading. He then covers the symbol requests that came through for the week, including INTC, NVDA, and more.

This video was originally published on December 7, 2023. Click this link to watch on YouTube.

Archived episodes of the show are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show. (Please do not leave Symbol Requests on this page.)

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Stocks

What Lies Ahead For End-of-the-Year Equities?

In this edition of the GoNoGo Charts show, Alex and Tyler take a top-down approach to the markets as they apply the GoNoGo suite of tools to all the major asset classes. Starting with a look at macro factors effecting equity investors, they discuss the technical analysis from trend, momentum, volume, and volatility perspectives. Treasury rates, the dollar, oil, and gold are all given the GoNoGo treatment; the duo also take a look at the equity markets from an equal value perspective, and then down into the sectors and single ticker ideas.

This video originally premiered on December 7, 2023. Click this link to watch on YouTube.

Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

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Stocks

45% of Market Capitalization In S&P 500 Showing Strong Sector Rotation

Usually, I would do this week’s Sector Spotlight on the completed monthly charts for November. But as we are gearing up for episode 200, I wanted to make it a bit more special. So what to do?

As I will be visiting the StockCharts.com office in Redmond next week, it made sense to skip this week’s regular episode and record the 200th episode in the studio next week. So, in case you were wondering why there was no SSL episode this week as usual… now you know. 😉

At the moment, the plan is to record the show on Tuesday morning, Pacific Time, and hopefully have it uploaded by the end of the day. However, we still need to do a, quick, review of the monthly charts and highlight a few observations.

Monthly Rotation

The monthly RRG shows a very clear rotational picture. Technology ($SPT), Communication Services ($SPTS), and Consumer Discretionary ($SPCC) are all either inside the leading quadrant or inside improving, heading toward leading. All three are on a strong RRG-Heading between 0-90 degrees.

ALL other sectors are inside lagging or inside weakening and heading toward lagging, and ALL are on a negative RRG-Heading. A very distinct rotational sequence in opposite directions.

This leaves little doubt as to which sectors are currently leading the market.

Technology

The technology sector is the only sector that recently broke to new all-time-high levels and is managing to hold there. Despite the strong rally it has already gone through, this remains one of the strongest sectors within the S&P 500 universe.

The monthly chart shows how, last month, $SPT managed to take out its previous high (July) and close and finished the month of November at the highest monthly close ever. That is not a weak characteristic.

This means there is now no real upside target, as we are in “uncharted” territory, while the recent resistance area, around 3100, can now be expected to serve as support.

Communication Services

This sector bounced against overhead resistance in the 240-245 area, which is the level of the March/April high. This can cause some short-term hesitation and keep $SPTS under pressure for a little while, but the series of higher highs and higher lows is still intact.

Combined with the strong rotation on the RRG, this makes Communication Services still one of the stronger sectors.

Consumer Discretionary

The third sector pushing toward the leading quadrant is consumer discretionary, the fourth-largest sector in terms of market cap and one of the larger sectors in terms of constituents.

After testing resistance near 1400 a few months ago, the sector dropped back to form a new, higher low at 1160. Out of that recent low, $SPCC is now underway toward the 1400 area again. A break beyond that supply zone will very likely trigger a renewed acceleration to higher levels.

45% of market capitalization showing strength

All in all, that means that. roughly 45% of the total market cap is now at a positive RRG-Heading on the Relative Rotation Graph, while holding up well on the price charts. This should give the market a solid base for further gains going into the new year.

Energy

On the opposite side of the RRG, the energy sector has the longest 12-month tail, showing a large and rapid rotation from high up in the leading quadrant all the way to low levels in the weakening quadrant and almost crossing over into lagging.

The accompanying price movement shows a third attempt by $SPEN to take out overhead resistance near 715-725, after which the price has started to move lower and seems to be heading toward the lower boundary of a range between 57-575 and 715-725.

Because of this move, I have changed the trend for this sector from Up to Sideways. I think the mentioned support area is extremely important. If that level gives way, it means that a massive double top will be completed, providing a potential downside target well below 400.

That has not happened yet, and it will likely not happen overnight or next week, but we better be prepared, because it looks significant. Be careful.

#StayAlert, –Julius

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Stocks

Santa Claus Rally Alert: Predicting a 70% Chance of Surge in the Dow Jones This December!

It’s that time again—holiday cheer, gift spending, and, most importantly, Santa Claus on Wall Street.

Since 1896, the Dow Jones Industrial Average has rallied seven out of ten times in December. This came to mind when doing a scan for stocks (and ETFs) for New 52-Week Highs, where DIA (SPDR Dow Jones Industrial Average ETF), our Dow Jones proxy, came up. If you look at it, its overbought condition is enough to instill the fear of heights in most traders and investors.

How To Scan for Stocks Making New 52-Week Highs

In SharpCharts, from Your Dashboard, scroll the Member Tools on the left and click on Sample Scan Library.The New 52-Week Highs scan is the second from the top on the left side.

Still, a 70% seasonal probability is pretty significant. So, if you are going to jump in, where’s a good spot to hitch a ride on Santa’s sleigh (without getting “slayed” on a massive drop)?

Let’s take a look at DIA’s price action on a weekly scale.

CHART 1: WEEKLY CHART OF SPDR DOW JONES INDUSTRIAL AVERAGE ETF. At record highs, DIA’s first line of support is at former resistance levels, tested twice in 2021 and once in 2023 before being breached.

After surpassing its 52-week high, we can see support at the former resistance “range” centering around $352. DIA is currently pulling back, so let’s take a look at the price action on a daily chart.

CHART 2: DAILY CHART OF DIA. Bollinger Bands and historical support range seem to converge at the $352 range.

We’re plotting a Relative Strength Index (RSI) below the chart to show just how overbought its reading is on DIA’s price surge. We plot Bollinger Bands to complement this reading, and, indeed, price closed above the upper band last Friday.

With DIA now pulling back, we can arguably expect it to reach the support ranging near the $352 price level. This price level also coincides with the Bollinger Band’s middle band, strengthening the case that, at least in terms of market sentiment, buyers are likely to jump in at that level. This would prompt a bounce and, quite possibly, the Santa Claus rally that seasonality traders are expecting.

The Bottom Line

Considering the historical 70% likelihood of a December rally in the Dow Jones Industrial Average and DIA’s current pullback from its “overbought” highs, investors might see this as a favorable trigger for market engagement. Just remember that seasonal tendencies are never guaranteed, so keep an eye on technical and fundamental developments before attempting to jump into this anticipated (and always welcome) holiday rally.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Stocks

Santa Claus Rally Alert: Predicting a 70% Surge in the Dow Jones This December!

It’s that time again—holiday cheer, gift spending, and, most importantly, Santa Claus on Wall Street.

Since 1896, the Dow Jones Industrial Average has rallied seven out of ten times in December. This came to mind when doing a scan for stocks (and ETFs) for New 52-Week Highs, where DIA (SPDR Dow Jones Industrial Average ETF), our Dow Jones proxy, came up. If you look at it, its overbought condition is enough to instill the fear of heights in most traders and investors.

How To Scan for Stocks Making New 52-Week Highs

In SharpCharts, from Your Dashboard, scroll the Member Tools on the left and click on Sample Scan Library.The New 52-Week Highs scan is the second from the top on the left side.

Still, a 70% seasonal probability is pretty significant. So, if you are going to jump in, where’s a good spot to hitch a ride on Santa’s sleigh (without getting “slayed” on a massive drop)?

Let’s take a look at DIA’s price action on a weekly scale.

CHART 1: WEEKLY CHART OF SPDR DOW JONES INDUSTRIAL AVERAGE ETF. At record highs, DIA’s first line of support is at former resistance levels, tested twice in 2021 and once in 2023 before being breached.

After surpassing its 52-week high, we can see support at the former resistance “range” centering around $352. DIA is currently pulling back, so let’s take a look at the price action on a daily chart.

CHART 2: DAILY CHART OF DIA. Bollinger Bands and historical support range seem to converge at the $352 range.

We’re plotting a Relative Strength Index (RSI) below the chart to show just how overbought its reading is on DIA’s price surge. We plot Bollinger Bands to complement this reading, and, indeed, price closed above the upper band last Friday.

With DIA now pulling back, we can arguably expect it to reach the support ranging near the $352 price level. This price level also coincides with the Bollinger Band’s middle band, strengthening the case that, at least in terms of market sentiment, buyers are likely to jump in at that level. This would prompt a bounce and, quite possibly, the Santa Claus rally that seasonality traders are expecting.

The Bottom Line

Considering the historical 70% likelihood of a December rally in the Dow Jones Industrial Average and DIA’s current pullback from its “overbought” highs, investors might see this as a favorable trigger for market engagement. Just remember that seasonal tendencies are never guaranteed, so keep an eye on technical and fundamental developments before attempting to jump into this anticipated (and always welcome) holiday rally.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Business

Wall Street CEOs say proposed banking rules would hurt small businesses, low-income Americans

Wall Street CEOs on Wednesday pushed back against proposed regulations aimed at raising the levels of capital they’ll need to hold against future risks.

In prepared remarks and responses to lawmakers’ questions during an annual Senate oversight hearing, the CEOs of eight banks sought to raise alarms over the impact of the changes. In July, U.S. regulators unveiled a sweeping set of higher standards governing banks known as the Basel 3 endgame. 

“The rule would have predictable and harmful outcomes to the economy, markets, business of all sizes and American households,” JPMorgan Chase CEO Jamie Dimon told lawmakers.

If unchanged, the regulations would raise capital requirements on the largest banks by about 25%, Dimon claimed.

The heads of America’s largest banks, including JPMorgan, Bank of America and Goldman Sachs, are seeking to dull the impact of the new rules, which would affect all U.S. banks with at least $100 billion in assets and take until 2028 to be fully phased in. Raising the cost of capital would likely hurt the industry’s profitability and growth prospects.

It would also likely help nonbank players including Apollo and Blackstone, which have gained market share in areas banks have receded from because of stricter regulations, including loans for mergers, buyouts and highly indebted corporations.

While all the major banks can comply with the rules as currently constructed, it wouldn’t be without losers and winners, the CEOs testified.

Those who could be unintentionally harmed by the regulations include small business owners, mortgage customers, pensions and other investors, as well as rural and low-income customers, according to Dimon and the other executives.

“Mortgages and small business loans will be more expensive and harder to access, particularly for low- to moderate-income borrowers,” Dimon said. “Savings for retirement or college will yield lower returns as costs rise for asset managers, money-market funds and pension funds.”

With the rise in the cost of capital, government infrastructure projects will be more expensive to finance, making new hospitals, bridges and roads even costlier, Dimon added. Corporate clients will need to pay more to hedge the price of commodities, resulting in higher consumer costs, he said.

The changes would “increase the cost of borrowing for farmers in rural communities,” Citigroup CEO Jane Fraser said. “It could impact them in terms of their mortgages, it could impact their credit cards. It could also importantly impact their cost of any borrowing that they do.”

Finally, the CEOs warned that by heightening oversight on banks, regulators would push yet more financial activity to nonbank players — sometimes referred to as shadow banks — leaving regulators blind to those risks.

The tone of lawmakers’ questioning during the three-hour hearing mostly hewed to partisan lines, with Democrats more skeptical of the executives and Republicans inquiring about potential harms to everyday Americans.

Sen. Sherrod Brown, an Ohio Democrat, opened the event by lambasting banks’ lobbying efforts against the Basel 3 endgame.

“You’re going to say that cracking down on Wall Street is going to hurt working families, you’re really going to claim that?” Brown said. “The economic devastation of 2008 is what hurt working families, the uncertainty and the turmoil from the failure of Silicon Valley Bank hurt working families.”

This post appeared first on NBC NEWS
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Sports

Which college has won the most Heisman Trophies? Inside past winners.

There are only a few more days until we find out who will take the 2023 Heisman Trophy, given to the most outstanding player in college football.

Quarterbacks dominate the finalists for the 2023 award – LSU quarterback Jayden Daniels, Ohio State wide receiver Marvin Harrison Jr., Oregon quarterback Bo Nix and Washington quarterback Michael Penix, Jr. Quarterbacks have won 19 of the 22 Heismans this century, USA TODAY previously reported, including last year to Southern California quarterback Caleb Williams.

Here’s everything you need to know about past winners of the prestigious award.

Which college has won the most Heisman Trophies?

Four colleges have won seven Heisman Trophies, the highest number for any given school since the award was founded in 1935:

Notre Dame: 1943, 1947, 1949, 1953, 1956, 1964, 1987Ohio State: 1944, 1950, 1955, 1974, 1975, 1995, 2006Oklahoma: 1952, 1969, 1978, 2003, 2008, 2017, 2018USC: 1965, 1968, 1979, 1981, 2002, 2004, 2022

The University of Alabama has four Heismans while the University of Michigan, Army West Point, the University of Florida, Auburn University, the University of Nebraska and Florida State have three. 

Ohio State’s Archie Griffin is the only player to have won more than one Heisman. He won his first trophy as a junior in 1974 and made history in 1975 with his second. After college, he played with the Cincinnati Bengals for seven seasons. 

What is the Heisman Trophy?

“The Trophy remains a national symbol of collegiate football experience, prowess, and competitiveness, awarded annually to an athlete designated as the Outstanding College Football Player in the United States,” the Heisman Trophy Trust writes on its site.

The selection process is complicated – six individuals appoint state representatives, who select voters in the form of impartial sports journalists, former Heisman winners and one fan. Voters nominate three players on the ballot, and the player with the highest points wins:

First choice: three pointsSecond choice: two pointsThird choice: one point

Who won the Heisman Trophy 2022?

Southern California sophomore quarterback Caleb Williams won the 2022 Heisman Trophy, marking USC’s first trophy since 2004. 

Williams received 544 first-place votes and 2,031 total points. TCU senior quarterback Max Duggan was the runner-up with 1,420 points, followed by Ohio State junior quarterback C.J. Stroud with 539 points and Georgia senior quarterback Stetson Bennett with 349 points. 

Williams’ win brought USC up to par with Notre Dame, Oklahoma and Ohio State to add a four-way tie to the schools with the most Heisman trophies. 

But eight USC players have won the Heisman – the 2005 Heisman was vacated amid NCAA violations. Reggie Bush returned his Heisman Trophy after an investigation found that he and his family accepted cash, travel expenses and a home while he was a student. As of 2021, NCAA athletes can now profit from their name, image and likeness.

When is the Heisman Trophy awarded?

The 2023 Heisman winner will be telecast live on ESPN on Saturday at 8 p.m. from Jazz at Lincoln Center in New York City.

Just Curious for more? We’ve got you covered

USA TODAY is exploring the questions you and others ask every day. From ‘What is glamping?’ to ‘Who is the oldest NFL player?’ to ‘Who is the youngest billionaire?’, we’re striving to find answers to the most common questions you ask every day. Head to our Just Curious section to see what else we can answer for you. 

This post appeared first on USA TODAY
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Sports

LSU’s Jayden Daniels leads the USA TODAY Sports All-America team

The LSU senior has put together one of the most productive seasons by a quarterbacks in Bowl Subdivision history. Daniels has thrown for more than 3,800 yards, rushed for over 1,100 yards and accounted for 50 touchdowns.

There was some heavy debate over which quarterback drew second-team honors. In the end, Oregon’s Bo Nix had the numbers and impact to edge past Washington’s Michael Penix Jr. despite the Huskies’ two head-to-head wins against the Ducks during the regular season.

Other offensive standouts include Ohio State wide receiver Marvin Harrison Jr., Michigan offensive lineman Zak Zinter, Oklahoma State running back Ollie Gordon II and Georgia tight end Brock Bowers. While he missed three games due to injury, Bowers was a obvious choice to draw All-America accolades for the third time in as many seasons.

POSTSEASON LINEUP: Complete rundown of the 2023 bowl schedule

The list of USA TODAY Sports’ All-America defenders is headlined by an outstanding trio of linebackers in North Carolina State’s Payton Wilson, Alabama’s Dallas Turner and Iowa’s Jay Higgins.

The secondary includes another member of the Hawkeyes’ incredible defense in cornerback Cooper DeJean and the winner of the Bronko Nagurski award as the nation’s top defensive player in Notre Dame safety Xavier Watts.

First team

Offense

QB: Jayden Daniels, LSU

RB: Ollie Gordon II, Oklahoma State

RB: Cody Schrader, Missouri

WR: Marvin Harrison Jr., Ohio State

WR: Malik Nabers, LSU

TE: Brock Bowers, Georgia

OL: Olumuyiwa Fashanu, Penn State

OL: Zak Zinter, Michigan

OL: Jackson Powers-Johnson, Oregon

OL: Cooper Beebe, Kansas State

OL: Joe Alt, Notre Dame

Defense

DL: Laiatu Latu, UCLA

DL: Jer’Zhan Newton, Illinois

DL: T’Vondre Sweat, Texas

DL: Jalen Green, James Madison

LB: Payton Wilson, North Carolina State

LB: Dallas Turner, Alabama

LB: Jay Higgins, Iowa

CB: Cooper DeJean, Iowa

CB: Kool-Aid McKinstry, Alabama

S: Malaki Starks, Georgia

S: Xavier Watts, Notre Dame

Specialists

K: Graham Nicholson, Miami (Ohio)

P: Tory Taylor, Iowa

RET: Zachariah Branch, Southern California

ALL-PURPOSE: Ashton Jeanty, Boise State

Second team

Offense

QB: Bo Nix, Oregon

RB: Blake Corum, Michigan

RB: Audric Estimé, Notre Dame

WR: Troy Franklin, Oregon

WR: Rome Odunze, Washington

TE: Dallin Holker, Colorado State

OL: Taliese Fuaga, Oregon State

OL: Clay Webb, Jacksonville State

OL: Zach Frazier, West Virginia

OL: Christian Haynes, Connecticut

OL: JC Latham, Alabama

Defense

DL: Ashton Gillotte, Louisville

DL: Jared Verse, Florida State

DL: Jonah Elliss, Utah

DL: Chop Robinson, Penn State

LB: Jason Henderson, Old Dominion

LB: Jeremiah Trotter Jr., Clemson

LB: Edgerrin Cooper, Texas A&M

CB: Quinyon Mitchell, Toledo Rockets

CB: Beanie Bishop Jr., West Virginia

S: Will Johnson, Michigan

S: Caleb Downs, Alabama

Specialists

K: Harrison Mevis, Missouri

P: Porter Wilson, Duke

RET: Jacob De Jesus, UNLV

ALL-PURPOSE: Xavier Worthy, Texas

This post appeared first on USA TODAY
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Sports

Cowboys head coach Mike McCarthy to undergo surgery for appendicitis

As the Dallas Cowboys prepare for their showdown with the Philadelphia Eagles, they’ll do so without their head coach.

Head coach Mike McCarthy is experiencing acute appendicitis, the team announced Wednesday, and he is scheduled to undergo surgery Wednesday afternoon.

The team said McCarthy, 60, was experiencing abdominal pain in the morning ‘that warranted further evaluation’ and received the diagnosis. McCarthy anticipates being released from the hospital later Wednesday, but in the meantime, the team’s three coordinators − defensive coordinator Dan Quinn, offensive coordinator Brian Schottenheimer and special teams coordinator John Fassel − will run practice until McCarthy returns.

Acute appendicitis is one of the most common conditions related to the appendix, when there is a sudden and intense pain in the abdomen that often requires surgery, according to the Cleveland Clinic.

Will Mike McCarthy coach vs. Eagles?

Even with the Week 14 game against the Eagles four days away, the Cowboys said McCarthy anticipates coaching against the NFC East rival on ‘Sunday Night Football.’ Quinn also believes the head coach will be there for the home contest.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

‘You really think that tough Irishman is going to miss this game?’ Quinn said Wednesday. ‘We’re certainly anticipating Mike being back for the game. We’ll hold it down for practices. Knowing him, he’ll be online tonight wanting to go through red zone and third down and everything else. We expect him to be rocking by gameday.’

It might not be crazy for McCarthy to return to the sideline just a few days after undergoing surgery. In most cases, having the appendix removed can result in patients leaving the hospital in one to two days after surgery, according to the Mount Sinai Health System. Recovery time can vary on patients, with people able to go back to complete normal activities anywhere from two to six weeks after the procedure.

‘Good news for him, he’s a fast healer,’ Quinn said.

This post appeared first on USA TODAY
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