From the Desk of Ian Culley @IanCulley

What started out as a bearish reversal in the dollar-yen is beginning to look more like a bullish continuation pattern.

Buying the Japanese yen will produce absolute gangbuster returns – at some point. 

But the market’s simply not there yet…

For starters, Japanese stocks are hitting new all-time highs. These new highs support bullish USD/JPY positioning – long dollar, short yen.

Here’s an overlay chart of the Nikkei 225 Index and the dollar-yen pair, highlighting their positive correlation over longer time frames:

The USD/JPY tends to peak and trough in tandem with the Nikkei. 

We can apply the same logic to global equities, as a dollar-yen rally characterizes a true risk-on environment much like the one we’re experiencing now.

So if the Japanese stocks are taking out their  December 1989 highs, why can’t the dollar-yen do the same?

It’s awfully close to its comparable 1990 high of...

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by JANA Partners Management LP.

The investment firm reported a purchase of roughly $11 million in Mercury Systems Inc $MRCY.

Here's something we don't do very often -- we're going to patiently leg into a position.

Bottoms are a process, and we're taking a position that is betting on a turn on a much-maligned overseas market.

We think the turn can be messy and sloppy sideways for a little longer, which will allow us to get better prices if we go into it with a plan.

What if I’m wrong?

I get ideas. Sometimes crazy ones.

I see something in the charts, or read something in the news, or listen to something on spaces and it triggers me into taking action.

Sometimes I’ll take aggressive actions because this idea I have – wherever it came from – is something I feel strongly about. I feel that the odds are heavily stacked in my favor. Or perhaps the payoff, if I’m right, can be so overwhelmingly profitable that it’s impossible to ignore.

We all have these feels about certain trades we’re in from time to time, right?

We get excited. We get optimistic. We start counting our winnings before they’ve even hit our account. It becomes impossible not to daydream.

There’s nothing wrong with any of this.

But what if I’m wrong?

In today's Daily Digest, we'll review:

1. No new positions today.
2. Adjustment to XBI position.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Cary Grace, president and CEO of AMN Healthcare Services $AMN.

Grace reported a purchase of almost $1 million in AMN shares.

From the Desk of Alfonso Depablos @Alfcharts

When assessing the overall market, we are always asking a lot of the same questions. One of the more common ones is, "how are the laggards doing?"

Many times, these will be the culprits of the last bear market. Other times, they are former leaders that have lost their way.

For a healthy and sustainable bull cycle to take place, we eventually need these laggards to participate.

For the 2021 and 2022 bear, speculative growth was the poster child. 

We’re talking about biotech, the ARK funds, the IPO index, online retailers, etc. These groups were absolutely decimated. 

Not only did they experience some of the worst bear market drawdowns, but in 2023, when new leaders emerged, and many areas of the market began to move higher, these laggards continued to struggle.

Fast forward to today, and these groups are still repairing the technical damage from the prior cycle. With that said, the seeds have been planted for some epic bearish-to-bullish trend reversals.

We think these transitions...

A lot of the major US Stock Market indexes have been having a hard time making much progress this month.

That makes sense to me because there are simply fewer and fewer stocks that are going up in price.

It's a market of stocks, after all right?

The way I learned it was, "Don't fight Papa Dow".

As you can see below, Dow Futures are at the same levels they were on February 2nd. We start March this Friday.

Also, you can see momentum continue to roll over very aggressively, particularly as any new highs in the indexes failed to hold:

Good morning,

Welcome to your daily crypto clarity

WHAT’S HAPPENING

Crypto assets continue their relentless bid, with Bitcoin just a stone's throw away from all-time highs. Ethereum is gone up in a straight line, and is trading right beneath a long-term zone of supply near 3,500.

KEY STORIES

Fidelity Canada Recommend 1-3% of Crypto Allocation in Portfolios - The Defiant

Eyeing Coinbase's bitcoin custody dominance, Kraken launches institutional service -...

Crypto markets continue to rally higher, lead by Bitcoin and Ethereum. Bitcoin finds itself a mere stone's throw away from its all-time highs, while Ethereum trades beneath a key level of resistance. With the risk vs reward tilting out of favor from the two largest crypto assets, it begs the question where well-defined opportunities lie in the crypto complex.

Did you see that Crypto Markets are now worth over $2 Trillion again?

And this trend is just getting started.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Cary Grace, president and CEO of AMN Healthcare Services $AMN.

Grace reported a purchase of almost $1 million in AMN shares.

In today's Daily Digest, we'll review:

1. No new positions today.
2. Rolled XRT position into April for a credit.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The biggest item on today’s list is a filing by Rep. Nancy Pelosi.

The former Speaker of the House bought call options in Palo Alto Networks $PANW worth between $600,000 and $1,250,000.

Remember when Apple was the most important company in the world?

Wasn't that like just a few months ago?

How convenient that it is no longer relevant, now that the stock goes down in price every day.

Apple closed yesterday at the lowest levels since early November...

Good morning,

Welcome to your daily crypto clarity

WHAT’S HAPPENING

Crypto assets continue their uptrend, lead by Bitcoin which has made a fresh 52-week high. Ethereum has lagged on this most recent rally as Bitcoin heads closer to its former all time highs.

KEY STORIES

New bitcoin spot ETF trading volume sets daily record, besting launch day - The Block

Bitcoin Funding Rates Jump to 100%, Sparking Opportunity for Savvy Traders -...

From the Desk of Steve Strazza @Sstrazza

Dividend Aristocrats are easily some of the most desirable investments on Wall Street. These are the names that have increased dividends for at least 25 years, providing steadily increasing income to long-term-minded shareholders.

As you can imagine, the companies making up this prestigious list are some of the most recognizable brands in the world. Coca-Cola, Walmart, and Johnson & Johnson are just a few of the household names making the cut.

Here at All Star Charts, we like to stay ahead of the curve. That's why we're turning our attention to the future aristocrats. In an effort to seek out the next generation of the cream-of-the-crop dividend plays, we're curating a list of stocks that have raised their payouts every year for five to nine years.

We call them the Young Aristocrats, and the idea is that these are "stocks that pay you to make money." Imagine if years of consistent dividend growth and high momentum and relative strength had a baby, leaving you with the best of the emerging dividend giants that are outperforming the averages.

By adding our technical analysis to the mix,...