Mish’s Daily: When Investors Should Look at the Monthly Charts
Mish’s Daily: When Investors Should Look at the Monthly Charts
Written by Michele ‘Mish’ Schneider
I have used monthly charts to determine support and resistance levels.
Moreover, this timeframe is often the best indicator for either the end of a countermove or the start of a bigger megatrend.
The 23-month moving average (blue) and the 80-month moving average (green) are my go-to’s.
One is a shorter 2-year business cycle while the other is about a 6–7-year business cycle.
Here are a bunch of monthly charts that have my attention.
Often, a picture says 1000 words.
Alibaba (BABA)-the end of the correction or the start of a much bigger move? BABA has traded below the 23-month moving average since 2021.
Natural Gas-sure get bullish-but the road back to the monthly MAs is long and perilous for now.
Semiconductors-Sure we will see corrections. But the trend is quite clear and will not give us any pause until it breaks under 160.
The ETF for sugar. It gave us a great signal in 202. Now, with May sitting around the 23-month MA, is the move over?
How clear is this? Tesla is below the 23-month MA but above the 200-month MA.
What about Granny Retail XRT?
Above the 23-month so in expansion. But also having an inside month to May. Best we can say from the chart-Granny looks constructive and we err to bullish. But there is more to prove.
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Mish in the Media
Financial Sense with Jim Pupluva Mish and Jim talk about the cost of AI on the already short supply of many raw materials 05-04-24
Benzinga Market Prep Mish is there for the jobs report and gives you an action plan Starts at minute 27:49 05-03-24
Real Vision The Daily Briefing Maggie Lake and Mish discuss inflation, stagflation, May seasonal, stock picks and much more 04-30-24
BFM 89.9 Malaysia THE MAGNIFICENT 7 ARE NOW THE FANTASTIC FOUR Mish tells us how much of a divergence are we seeing in terms of performance and why these results still matter in spite of the Fed keeping pat on rates. 04-26-24
FOREX ANALYTIC Mish sees opportunities in commodities amid concerns over stagflation 04-25-24
Coming Up:
June 13th MoneyShow Virtual Expo -Topic Stagflation Survival Guide: Building Wealth Amid Economic Challenges
To attend: https://online.moneyshow.com/2024/june/accredited-virtual-expo/speakers/9630e790943c4fe9b46573fef371355c/michele-schneider/?scode=062917
Weekly: Business First AM, CMC Markets, andnew to us-stockpick.app
ETF Summary
S&P 500 (SPY) Gap over the 50-DMA to an unconfirmed return to bullish phase
Russell 2000 (IWM) Gap over the 50-DMA to an unconfirmed return to bullish phase
Dow (DIA) Gap over the 50-DMA to an unconfirmed return to bullish phase
Nasdaq (QQQ) Gap over the 50-DMA to an unconfirmed return to bullish phase
Regional banks (KRE) Through 50.50 compelling
Semiconductors (SMH) Gap over the 50-DMA to an unconfirmed return to bullish phase
Transportation (IYT) 63 support 67 resistance -still relatively weak
Biotechnology (IBB) 128-135 new range to watch
Retail (XRT) 71.50 support 75 resistance
iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77.00 now must hold (50DMA)
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