From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley

We held our September Monthly Strategy Session last night. Premium Members can access and rewatch it here.

Non-members can get a quick recap of the call simply by reading this post each month. 

By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.

With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.

...That's how we're supposed to do it, right?

JC & Strazza were riffing this morning on the strength in the Medical Equipment space and so we started brainstorming on some names to play since we expect the strength to continue.

There were a few names bandied about, but the chart and setup that most caught my attention was Boston Scientific Corp $BSX.

What I liked most was the recent consolidation which can act as a solid base of support for a move higher -- which would be all-time highs breaking out of a nearly 20 year base! As JC likes to say: "The bigger the base, the higher in space!" Seems this opportunity has a good shot at that:

A funny thing happened back in May.

The Cyclicals stopped going up. You can see it in the NYSE Advance-Decline line, which has been falling ever since.

But you can really see it when you overlay the Industrials with Materials and Financials.

Chop Chop Chop:

This is the video recording of our September 7, 2021 Monthly Charts Live Strategy Session

From the desk of Steven Strazza @Sstrazza and Ian Culley @IanCulley

In last week’s Currency Report, we highlighted the NZD/USD cross as a means to express our bearish US dollar thesis.

The setup was too good to resist taking a swing at following the recently failed breakdown. And so far, we’ve been rewarded for it. That’s information.

But it’s not the only cross that continues to trend well against the US Dollar. We see it all over, and it’s only reinforcing our bearish thesis.

As such, we want to look for more opportunities to take advantage of this developing theme.

In this week’s post, we’re going to do just that.

Let’s drill into our forex universe now and identify some of our favorite risk/reward setups we want to bet on to capture profits from a weakening US dollar. 

As the third quarter winds to a close, the bulls just took the lead for the first time since early in the 1st half.

Everything is clicking for them and they're in control of the game right now. While it's been a nice comeback, it's still just 52 to 48, so they have plenty of work to do.

I'm not talking about basketball. Not the Chicago bulls. I'm referring to stock market bulls and the current score on our risk checklist.

It's currently at its highest reading since we started publishing it back in June, so we'd be remiss not to write about it.

It's been a great roadmap for us in recent months so let's have a quick look at what it's saying now as well as some of the more recent developments that have taken place.

From the desk of Steve Strazza @sstrazza and Ian Culley @ianculley

In last week’s Commodity Report we highlighted the Uranium ETF $URA and promised to dig up some trade ideas within this outperforming group of stocks.

While everyone was enjoying the Labor Day weekend, barbecuing, and watching football - we were pouring over our Uranium universe to uncover the best risk/reward opportunities in the strongest names. 

But hey, this is what we love to do!

So let’s dive right in and see what we found.

First of all, why do we like Uranium so much right now?

Both the Uranium ETF and the underlying commodity are showing leadership and breaking out of 6-year bases. That's more than good enough for us.

Now, let's look at some of the strongest stocks that we can use as vehicles to express our bullish thesis.

From the desk of Steve Strazza @Sstrazza.

Welcome back to our latest "Under The Hood" column where we'll cover all the action for the week ended September 3, 2021. This report is published bi-weekly and rotated on-and-off with our "Minor Leaguers" column.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names. There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: A list of stocks that are seeing an unusual increase in investor interest.

Watch this video for a "behind the scenes" look at our process.

...

As our team has grown over the years, so has the amount of content we put out.

If you haven't already, I would encourage you to go subscribe to our YouTube Channel so you never miss an update!

I think you're really going to enjoy it.

Somewhere along the way I think people forgot that we're only in the market to make money.

This is a very selfish endeavor.

Who cares what other people are doing with their investments?

Why should it matter to me that someone else may or may not be trading recklessly in the NFT space?

That's their problem.

From the desk of Steve Strazza @Sstrazza

Thanks to everyone who participated in last week’s mystery chart.

We questioned whether it was a rounding top reversal pattern – in which case we’d be looking for a breakdown.

Or, if it was actually a failed breakdown - and we all know what tends to follow those patterns…

The responses we received were mixed. But there were plenty of bulls who wanted to be long against the former lows and bet on a swift reaction higher.

That’s pretty much the camp we were in too. We recently wrote about all of the whipsaw action we’ve been witnessing.

We said the next critical piece of information we’d be looking for was whether or not these patterns would see some real follow-through and confirmation.

Fast forward a week or so, and we definitely have our answer.

So let’s talk about it, and more importantly, what it means for risk assets.

From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley

In today’s Commodity Report, we zoomed out to our monthly charts to reconnect with the primary trend. This exercise really allows us to tune out the noise on the weekly and daily charts.

As we were reviewing our charts, there was one recurring theme that kept popping up...

Pullbacks and retests.

The CRB Index retested its breakout zone near the 2018 highs ~206. 

Crude oil broke back below a 13-year downtrend line only to reclaim it in recent sessions. 

Iron ore fell right back to check in on its 2013 highs. 

And even palladium, the one bright spot in the precious metals space, pulled back to a six-year trendline. 

But guess what? Just like we’ve recently seen in many of the weakest areas in other asset classes, buyers dug in at these key levels.  

Of all these retests, one that stood out most was Uranium. 

Let’s take a look.

Here’s the monthly candlestick chart of the Uranium ETF $URA:...