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In this video from StockCharts TV, Julius assesses various rotations using Relative Rotation Graphs, starting at asset class level and then moving to sectors. Julius zooms in on the industries of two sectors to get an idea of where pockets of out-performance may exist in the current market. He then gives his two cents on the potential developments for the S&P 500 using the chart of SPY.

This video was originally broadcast on August 13, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius

If you checked the StockChartsTechnical Rank (SCTR) report on Tuesday morning, you might have seen the massive spike in Starbucks’ (SBUX) change in value of +62.3. It occupied the highest “Top Up” spot for the Large-Cap stocks category.

Huge Spike in Starbucks SCTR Score

A rising SCTR score of 78.5 looks promising, but the sudden spike raised some eyebrows. As you might know, SCTR is your go-to for spotting the strongest stocks from a technical standpoint, as it uses multiple indicators across several timeframes.

SBUX was the Top Up in the Large Cap SCTR category.

SBUX jumped from an ultra-bearish 10 to a bullish 78.5 (this figure will fluctuate slightly as the price changes throughout the day). At this stage, it’s worth a sector check. A glance at the MarketCarpet for the Consumer Discretionary sector shows how SBUX compares to other Consumer Discretionary stocks.

SBUX stock rose over 24.50% on Tuesday.

SBUX stands out with a price jump of 24.50%. To compare the stock’s performance to other stocks within its industry group, click the industry group, in this case, Restaurants & Bars (see below).

What Happened to Starbucks?

In short, Starbucks, after trending down for over a year, just swapped out its CEO. What does that mean? The spike is all about market sentiment. The real test—earnings—won’t show up for a few more quarters, as it takes time for the new leadership to make changes.

So, do you buy on bullish sentiment, or do you wait? Since there is no way to fundamentally gauge this price movement, how can you technically assess this market move? And if you wanted to get in on the action, how can you plot your entry points and identify zones that spell out “stay away”?

Macro View: SBUX’s Fall From Grace

Start with a macro view by looking at the weekly chart of SBUX.

CHART 1. WEEKLY CHART OF STARBUCKS. This chart shows SBUX’s last dramatic uptrend before the stock’s decline, plus several critical support and resistance levels to which the market may continue to respond.Chart source: StockCharts.com. For educational purposes.

SCTR profile. The SCTR window at the top illustrates SBUX’s technical weakening as its price declined. Note that the significant spike matches the latest weekly candle.The $93 level. Do you see the magenta rectangle and the blue dotted line at the $93 level? Notice how the bulls were trying to keep price above that support level and how it eventually failed.The 200-period SMA. The 200-period simple moving average (SMA) didn’t play much of a role until the price broke below $93. Check out the orange circles—bulls found support at the 200-period SMA twice before SBUX’s poor store performance led to its bearish turn.Convergence of $93 support-turned-resistance and the 200-period SMA. On Tuesday, the price spiked an impressive double digits, but the 200-day SMA and the $93 line stopped it (see the last orange circle on the right). These two former support levels have now become strong resistance.

Let’s add another indicator commonly used to gauge support and resistance—Fibonacci Retracement levels. Fib levels are important as both bulls and bears use them to pinpoint entry levels, whether long or short. In this case, we will draw levels from the 2023 peak at $112 to the 2024 low of $72.

The Fibonacci levels are in black, and this chart is a little busier than the one above.

CHART 2. WEEKLY CHART OF STARBUCKS WITH FIBONACCI RETRACEMENT LEVELS. Notice how the critical levels of 50%–61.8% converge with the SMA and market resistance levels.Chart source: StockCharts.com. For educational purposes.

Adding Fib levels to the mix illustrates how the key 50%–61.8% levels align with other resistance levels. It also suggests that the current Fib range could be a prime entry point for shorts, particularly for bears who think the market’s optimism might be short-lived as the bullish case is unproven.

So, is the SBUX caffeine jolt a breakout of a fakeout? At this point, you’ll want to switch over to the daily chart.

CHART 3. DAILY CHART OF STARBUCKS. Mind the gap. It could be a breakaway gap.Chart source: StockCharts.com. For educational purposes.

Tuesday’s price action looks like a breakaway gap, but with weeks of congestion leading up to it (see black trend line for reference). Most breakaway gaps don’t get filled within a week. But, in this case, you’ll want to keep your eye on the gap (see blue box).

Notice how the Chaikin Money Flow is sloping downward and is below the zero line. This suggests that selling pressure prevails, but can change in future trading sessions (if SBUX continues moving upward).

The Moving Average Convergence Divergence (MACD) is above the signal line, suggesting a bullish shift in momentum. However, both are still below the zero line, which indicates bearishness.

If SBUX’s momentum turns bullish, watch the gap and the $83.50 support level (dotted magenta line) for a potential bounce. If the price bounces with strong momentum, it could be a sign that the bearish trend has reversed.

Closing Bell

Starbucks saw a massive spike in price and its SCTR score, but the real question is whether it has enough momentum to keep going or if it’s just a short-lived jolt. While market sentiment is high following the CEO swap, key resistance levels and mixed technical indicators suggest caution. Keep an eye on the $83.50 support level and the gap for signs of a potential trend reversal. The true test won’t come until future earnings reports, but the technicals can help you position yourself to either get in early or avoid a falling knife.

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 personal and financial situation, or without consulting a financial professional.

In this edition of StockCharts TV‘s The Final Bar, Dave recaps an epic rally in mega cap growth stocks, with NVDA up over 6% and META threatening a new 52-week high. Dave highlights how gold and bond prices continue to rise in the face of stronger stocks, and breaks down key levels to watch for the S&P 500, NVDA, MPWR, SBUX, and META.

See Dave’s chart of YTD returns for gold vs. stocks here.

This video originally premiered on August 13, 2024. Watch on our dedicated Final Bar page on StockCharts TV!

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

PARIS – With another Olympic gold medal for the U.S. men’s basketball team at the Paris Olympics, attention turns to the 2028 Los Angeles Games for USA Basketball.

On the men’s side, sandpaper is required to smooth rough edges that linger on the periphery of gold – from Jaylen Brown’s pointed comments about his exclusion from the Olympic team to Jayson Tatum’s ‘did not play – coach’s decision’ in the two games against Serbia to roster construction and coaching staff that will give the U.S. a shot at a sixth consecutive gold medal as the other countries close in on U.S. supremacy.

USA Basketball men’s national team managing director Grant Hill has work to do.

Whether Brown and Tatum are candidates for the 2028 team doesn’t matter. Players pay attention to those scenarios, especially Tatum’s situation. When a player is considered one of the best in the world and doesn’t get minutes in important Olympic games, it doesn’t exactly make players want to give up summers.

Tatum handled it like a pro. He acknowledged his disappointment in not playing in those games while understanding the greater good. He said all the right things, and major props to him for that. He prevented an issue from growing into a larger problem and kept an open mind about playing again in 2028.

2024 Paris Olympics: Follow USA TODAY’s coverage of the biggest names and stories of the Games.

U.S. coach Steve Kerr’s job was to win gold. Fair or not in this era of global basketball, anything short of a gold medal for the U.S. is still a disappointment. Kerr did his job. The U.S. defeated France for its fifth consecutive gold medal and the gold standard of basketball still belongs to the Americans.

Kerr’s decision to sit Tatum in both games against Serbia – once in group play, once in the semifinals – generated a problem. How can a first-team All-NBA player who is coming off a championship in June not get playing time in the Olympics?

Four generations of players criticized Kerr – from Bob Cousy to Charles Barkley to Paul Pierce to Draymond Green. Even Kerr struggled with the idea of not playing Tatum, and the story took on a mini-life of its own as the U.S. sought gold.

Kerr called it a math problem. There were only so many minutes to distribute, and in a close game, he couldn’t afford to play 10, 11 guys. It’s obvious Kerr liked Devin Booker, and at times, Anthony Edwards, on the court more than he did Tatum. Kerr didn’t go deep into his reasoning, but it’s not like Tatum tore it up in the minutes he received. And Booker was outstanding. LeBron James, Steph Curry and Kevin Durant received the headlines, but Booker’s two-way play was necessary.

There were times, especially in the semifinals against Serbia, when Kerr could’ve given minutes to Tatum instead of Edwards who wasn’t at his best in the semifinals and final.

Now, imagine if Kerr played everybody as equally as possible and didn’t win gold. Imagine the outcry then.

And winning gold in Los Angeles will be more difficult than it was in Paris. It’s not that the U.S. will lack talent – it will have the most talented 12-man roster in the 12-team field. It’s the continuity and experience of playing together that the U.S. will lack.

Teams such as Serbia, Germany, France and Australia will get a majority of their players to commit to several international events over the next four years, including the 2027 FIBA World Cup. USA Basketball is not getting a similar commitment because most American NBA stars are not giving up two summers in a row, especially if some play deep into the playoffs, for international basketball.

Whether intentional or not on behalf of FIBA, putting the World Cup one year ahead of the Olympics helps level the field.

That means the U.S. will assemble a team that hasn’t played together, train for a week, play four or five exhibition games before the 2028 Los Angeles Summer Games and then try to win gold. That’s the predicament the U.S. men face. Since revamping the national team ahead of the 2008 Beijing Olympics, talent has ruled the day for the U.S. And it did in Paris ked by James, Curry and Durant.

But one of these Olympics, the U.S. will not win gold. And when it happens, the result shouldn’t be surprising.

The USA TODAY app gets you to the heart of the news — fast.Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

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Word got out last week that former Michigan football coach Jim Harbaugh was going to be an honorary captain for the 2024 season opener on Aug. 31 against Fresno State (7:30 p.m. ET, NBC), however there’s since been a change of plans and the former head man will not be in attendance.

At his first media availability since the Wolverines began fall camp on July 31, first-year head coach Sherrone Moore announced that his predecessor would not be able to make it, instead deciding to stay on the West Coast with his current team, the Los Angeles Chargers.

‘Yesterday he called me and told me he didn’t feel he could leave his team in true Coach Harbaugh fashion and wanted to be in the fox hole with his team, not make it look like he’s taking a deep long bow,’ Moore said. ‘So he’s not going to make it for the game, but we will have some of our (former players) who will be there and then Jack and Jackie Harbaugh are going to take his place, so super excited about that.’

Just a few days earlier, the Division I committee of investigation released its 48-page report to the NCAA which detailed a series of alleged improprieties committed by Harbaugh, including his Level I offense for misleading investigators and ultimately punished him with a four-year show cause penalty and one-year suspension should he ever want to return to collegiate coaching.

Earlier in the week, the Detroit Free Press, part of the USA TODAY Network, confirmed that U-M had indeed been sent a draft notice of allegations for a separate NCAA investigation into the program for its alleged illegal off-field scouting operation and within that Harbaugh is also tagged as a Level I violator for failing to evaluate ‘red flags’ within his program.

Moore was asked about the timing of the decision, which appeared to come shortly after these decisions, but he confirmed with program spokesman Dave Ablauf that it was actually in place for months prior. For what it’s worth, Ablauf said as much to the Free Press last week, saying ‘you might remember Warde mentioned this at the press conference announcing Sherrone’s hire.’

‘I actually just talked to Coach yesterday and really what went into the decision was we made the decision in March, or I think it was January or February,’ Moore said Tuesday. ‘It really was to honor him and what he’s done for Michigan. Came back for nine years and took us to where we are now.

‘So it was really to honor him, it’s nothing besides that.’

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As Israel continues to brace itself under the threat of an imminent attack from Iran or its proxy forces, including Hamas and Hezbollah, security experts are sounding the alarm that Tehran has its sites set on Jordan as its next great ‘terror front.’

‘Jordan is the last holdout,’ Behnam Ben Taleblu, Iran expert and senior fellow with the Foundation for Defense of Democracies (FDD) told Fox News Digital. ‘It’s the last bastion of the pro-Western or status quo order in the heartland of the northern part of the Middle East.’

The security expert pointed to Iran’s growing influence and support for proxy fighters not only in Gaza, Syria, Iraq and Lebanon, but further out across the Arabian Peninsula, including Yemen and Oman, where anti-Israel sentiment is on the rise. 

‘Increasingly, the regime has benefited from the rise in anti-Israel sentiment to cause instability in Jordan,’ Ben Taleblu said.

Growing concern over how Tehran will use anti-Israeli sentiment in the Middle East coincided with a warning issued Monday by Israeli Foreign Minister Israel Katz, who said Iran was working ‘to establish a new eastern terror front against Israel’s major population centers.’

The Israeli official said the Iranian Revolutionary Guard is coordinating with ‘Hamas operatives in Lebanon to smuggle weapons and funds into Jordan’ with the apparent aim of destabilizing the Israeli neighbor. 

Katz said smuggled arms are transported across Jordan’s western border into the West Bank, known as Judea and Samaria, with a particular focus on refugee camps and the goal of establishing pro-Iranian sentiment as it has done in areas like Gaza and southern Lebanon. 

‘The Iranian axis of evil today effectively controls refugee camps in Judea and Samaria through its proxies, leaving the Palestinian Authority powerless to act,’ Katz added. 

Jordan’s border with Israel is the Jewish state’s longest shared border, reportedly stretching some 300 miles from the contested Golan Heights in the north, through the Palestinian West Bank and the Dead Sea, before ending at the Gulf of Aqaba.

Though Katz’s warnings come as tensions between Israel and Iran have reached a historic peak, local reporting shows that Iranian-led smuggling efforts have plagued Jordanian security efforts for years.

The Jordanian regime over the last half decade has increasingly been working to stop smuggling operations to help prevent the formation of anti-Israel terrorist cells in the West Bank. 

‘Ultimately [that would] be a benefit to the Islamic Republic, because it could allow for a full encirclement of Israel,’ Ben Taleblu said.  ‘The one thing that stands in the way of all of this is the Jordanian monarchy and the strength of the Jordanian security services.’

Jordanian officials have been working to ease tensions in the region by meeting with U.S., Israeli and Iranian officials over recent weeks following Tehran’s threat to hit the Jewish state directly.

Though even as Jordan works to maintain the status quo in the region and prevent an all-out war, it has also warned it will not become a battleground state for either nation to utilize. 

‘We will not be a battlefield for Iran or Israel. We informed the Iranians and the Israelis that we will not allow anyone to violate our airspace and risk the safety of our citizens,’ Jordanian Foreign Minister Ayman Safadi said in a Saturday interview, according to a Reuters report. 

‘We will intercept anything that passes through our airspace or think that it constitutes a threat to us or our citizens,’ he added.

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U.S. Secretary of State Antony Blinken has reportedly postponed a trip to the Middle East over heightened security concerns in the region and a possible retaliatory strike from Iran against Israel. 

Blinken’s trip, originally scheduled for Tuesday, was delayed over ‘uncertainty about the situation,’ Axios reported, citing two unnamed sources. 

The delayed trip comes ahead of planned cease-fire talks later this week after more than 10 months of fighting between Israel and Hamas terrorists in the Gaza Strip. 

Hamas fired two rockets aimed at Tel Aviv on Tuesday while Israel launched separate deadly airstrikes in Gaza. 

Despite the ongoing violence, U.S. officials said Monday they expected the talks to resume Thursday as planned. 

The leaders of Britain, France and Germany on Monday urged Iran and its allies to refrain from retaliatory attacks against Israel in response to the assassination of a top Hamas commander in Tehran last month. 

Israel was immediately blamed for the assassination after pledging to kill Ismail Haniyeh and other Hamas leaders over the terrorist group’s Oct. 7 attack on the Jewish state, which killed 1,200 people and saw hundreds more taken hostage. 

The Palestinian death toll is nearing 40,000 people, per figures from Gaza’s Hamas-run Health Ministry. 

European leaders have also backed a push by mediators from the U.S., Qatar and Egypt to broker an agreement to end the Israel-Hamas war. 

Mediators have spent months trying to get both sides to agree to a three-phase plan in which Hamas would release the remaining hostages captured in its Oct. 7 attack in exchange for Palestinians imprisoned in Israel, and Israel would withdraw from Gaza. 

The Associated Press contributed to this report.

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Critics have claimed President Biden’s seemingly light schedule and infrequent public appearances since dropping out of the presidential race will harm America’s image abroad, even as the White House stresses recent policy wins. 

‘Biden has disappeared from view, Harris is campaigning full-time, and won’t meet with the press,’ former national security adviser K.T. McFarland told Fox News Digital. 

‘This sends a signal to the world that there is no one in charge in the White House,’ McFarland explained. ‘Our allies wonder whether they can trust us.  Our adversaries see this as a wide open window of opportunity, when they can exploit us without risk of consequences.’

‘They know this window of opportunity will slam shut if Donald Trump is elected,’ McFarland argued. ‘We’re in a period of maximum vulnerability.’

Biden has made few public appearances and his schedule appears lighter than it had been prior to his decision not to seek a second term. 

When Fox News correspondent David Spunt last week asked White House press secretary Karine Jean-Pierre why the American people have not heard from the president, she replied that the White House had put out two readouts that day. 

Jean-Pierre also stressed that the administration is now in a ‘different time’ and that Americans would ‘get to see the president… it is certainly the president’s priority, to make sure that we do everything that we can, to protect our national security, right?’ 

The press secretary highlighted the push for a cease-fire deal between Israel and Hamas as well as the administration’s response to Tropical Storm Debby as important issues that have taken Biden’s attention in recent weeks. 

But concerns about mounting tensions in the Middle East grew more severe this week as Israel revealed intelligence that indicated Iran would launch a significant attack, which would serve as retaliation for the death of Hamas commander Ismail Haniyeh. 

Top U.S. national security leaders said last week that they and allies are directly pressing Israel, Iran and others to avoid escalating the conflict, even as the U.S. moved more troops to the region and threatened retaliation if American forces are attacked.

The White House continued to stress Biden’s focus on a range of issues as proof that he’s not hiding from the public: Biden and the first lady will visit New Orleans this week to highlight the Biden Cancer Moonshot initiative to reduce the cancer death rate by at least half before 2047, NOLA reported. 

‘President Biden is working hard and building on the most successful record of any modern administration by delivering more results for the American people,’ White House deputy press secretary Andrew Bates told Fox News Digital. 

Bates cited ‘an historic return of unjustly detained Americans from Russia, perpetuating the Biden-Harris manufacturing boom, lowering the costs of prescription drugs, and bringing unlawful border crossings to the lowest level in years’ as major recent wins for the administration. 

Bates also leveled criticism at the Republicans for ‘blocking tough, bipartisan border legislation on behalf of Donald Trump.’

Politico reported that Biden will use his final half-year in office to focus on ‘legacy items’ and give Vice President Kamala Harris the lion’s share of the limelight as she seeks to become the first female president of the United States: The White House, for example, will unveil Medicare price negotiation savings this week, which the Biden campaign – and now the Harris campaign – had aimed to focus on as part of the push for votes in November. 

But the White House is still in the early days of a tumultuous economic situation. The president claimed to have ‘cured the economy’ last week just before the stock market stumbled and raised concerns about the economic health of the country throughout the rest of the year. 

‘The July jobs report is being viewed as a recession warning, and the markets are responding accordingly,’ Bill Adams, chief economist at the Dallas-based Comerica Bank, said after the Dow Jones Industrial Average dropped over 1,000 points, marking a 2.6% shift and the worst day since September 2022. 

Fox News Digital’s Danielle Wallace and Fox News Correspondent David Spunt contributed to this report.

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Former President Trump is once again arguing that Vice President Kamala Harris is ‘worse than Bernie Sanders.’

Since Harris replaced President Biden at the top of the Democrats’ 2024 ticket three and a half weeks ago, the Republican presidential nominee, his campaign, and allies, have repeatedly claimed that Harris is an ultra-liberal, as they point to her record as San Francisco district attorney, California attorney general, U.S. senator and vice president.

‘She is considered more liberal, by far, than Bernie Sanders. She’s a radical left lunatic,’ the former president reiterated on Monday night, in a social media interview with Trump backer Elon Musk, the multi-billionaire Tesla CEO, Space X founder, and owner of X, formerly known as Twitter.

It wasn’t the first time Trump had argued that Harris was more liberal than Sanders, the longtime independent senator from Vermont, progressive champion and two-time runner-up for the Democratic presidential nomination.

A couple of days after Biden’s blockbuster announcement that he was ending his re-election campaign and endorsing his vice president, Trump tried out the line at a large rally in Charlotte, North Carolina.

Trump argued that Harris is ‘more liberal than Bernie Sanders. Can you believe it?’

Sanders, in an exclusive national interview with Fox News Digital days after Trump’s comment, disagreed.

‘I would hope that when he said, ‘Can you believe that?,’ people said no,’ Sanders said.

‘It’’s not true. Once again, Trump is lying,’ Sanders emphasized. ‘Let me just simply say that for better or for worse, Kamala Harris is not more progressive than I am.’

During his Fox News interview, Sanders took aim at Trump, who this spring was convicted of 34 felony counts in the first criminal trial of a former or current president in the nation’s history.

‘This is the most important election, I think, in our lifetimes. I will do everything that I can to see that Donald Trump is defeated,’ the senator stressed.

Sanders has been campaigning on behalf of Harris, but he hasn’t formally endorsed the vice president.

‘I think if the vice president is to win this election, and obviously I want her to win, I think she has to start talking about issues of relevance to the working class of this country, because there are tens of millions of people who are really hurting,’ Sanders explained. ‘They want to know what the next president is going to do for them, and I hope very much that Vice President Harris will make that clear.’

‘The path toward victory is to talk about issues that are relevant,’ he reiterated.

Asked what Harris specifically needs to detail, Sanders said, ‘I hope that the vice president will be talking about the need to substantially lower prescription drug costs… the need to have tax reform so the wealthiest in this country start paying their fair share of taxes, so we can greatly expand child care and affordable housing in this country, and I think we’ve got to be very strong on the issue of climate change and make it clear that we’re going to transform our energy system away from fossil fuel if we’re going to save this planet for future generations.’

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Ford and Mazda have issued do-not-drive warnings covering more than 457,000 vehicles that contain recalled Takata airbags.

According to a release posted on the National Highway Traffic Safety Administration’s website, Ford’s warning covers 374,290 model year 2004-2014 vehicles comprising a range of models that were part of previous recall campaigns. It also includes Lincoln and Mercury vehicles.

Mazda’s warning covers 82,893 previously recalled model year 2003-2015 vehicles.

NHTSA urges owners of the vehicles to not drive them until a repair is completed and the defective airbag is replaced.

Ford customers should check the automaker’s recalls website to see if their vehicle is affected.

Mazda customers can visit the company’s recalls website for more information.

To date, NHTSA says 27 people in the U.S. have been killed by a defective Takata airbag that exploded, while at least 400 people in the U.S. reportedly have been injured by them.

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