Andrew Thrasher, CMT

Senior Portfolio Manager at Financial Enhancement Group & Founder of Thrasher Analytics. 2x Dow Award winner & Founders Award winner

[Andrew Thrasher, CMT @AndrewThrasher]

Some good news to share....

I've won the Charles H. Dow Award. I'm extremely honored to have received this award from the @CMTAssociation for the second time.
https://t.co/DVyCMR65sc

[Andrew Thrasher, CMT @AndrewThrasher]

@BergMilton @GroupFinom @TexasOncologist @BruniCharting @CMTAssociation correct. it will not decline. I hear your comments. As I said earlier, it's not a critical chart for me. it's simply one piece of data among a massive amount that I review each day/week. By no means is it one of the top charts I look to for breadth or market health.

[Andrew Thrasher, CMT @AndrewThrasher]

@justheartoread2 @BergMilton @BruniCharting @CMTAssociation Yes. It’s simply counting how many stocks have made a new high at different points in time. It’s just one chart. One piece of data. By no means the only thing as a technician I look at. Wouldn’t even be in my top 20 charts of importance.

[Andrew Thrasher, CMT @AndrewThrasher]

@justheartoread2 @BergMilton @BruniCharting @CMTAssociation Yes. It’s simply counting how many stocks have made a new high at different points in time. It’s just one chart. One piece of data. By no means the only thing as a technician I look at. Wouldn’t even be in my top 20 charts of importance.

[Andrew Thrasher, CMT @AndrewThrasher]

Thank you Seth, that's very kind of you. Really appreciate that.

Milton, here's how this kind of data can be used.... I'll use 2018 as an example. this cumulative list went flat for a period in Sept. and then began rising again in late Oct/early Nov. why? because we saw rotation. Look how XLU and XLRE performed during that time. Both hit new highs in early Dec.

When the market is moving lower and this list is expanding, it can be a result of rotation, like we've seen in the market currently with strength is non-tech sectors.

It can also be useful when this figure is very low despite the market hitting new highs. If we see just one-third of stocks having hit a new high for instance and the SPX is continuedly hitting new highs, it shows a narrow leadership.

Milton, instead of just classifying a chart as misleading, just ask. Like you, I'm here to learn but that's hard when stones are thrown before questions asked.

[Andrew Thrasher, CMT @AndrewThrasher]

Thank you Seth, that's very kind of you. Really appreciate that.

Milton, here's how this kind of data can be used.... I'll use 2018 as an example. this cumulative list went flat for a period in Sept. and then began rising again in late Oct/early Nov. why? because we saw rotation. Look how XLU and XLRE performed during that time. Both hit new highs in early Dec.

When the market is moving lower and this list is expanding, it can be a result of rotation, like we've seen in the market currently with strength is non-tech sectors.

It can also be useful when this figure is very low despite the market hitting new highs. If we see just one-third of stocks having hit a new high for instance and the SPX is continuedly hitting new highs, it shows a narrow leadership.

Milton, instead of just classifying a chart as misleading, just ask. Like you, I'm here to learn but that's hard when stones are thrown before questions asked.

[Andrew Thrasher, CMT @AndrewThrasher]

@BergMilton @BruniCharting @CMTAssociation It’s cumulative since March 30th. You don’t see significance because you clearly dont understand the data but thats fine, youre free to ignore it.

[Andrew Thrasher, CMT @AndrewThrasher]

@BergMilton @CMTAssociation This is cumulative.

[Andrew Thrasher, CMT @AndrewThrasher]

While the S&P 500 has consolidated, the percentage of stocks to make a new 52-week high since March has continued to expand, rising from 35% at SPX last high to 46%.
$SPX $SPY

[Andrew Thrasher, CMT @AndrewThrasher]

@JC_ParetsX @carlquintanilla Haha. True and it’s been badly overused for sure. But if looking at margin debt, comparing one amount of money to the pool of all money isn’t the worst lens to use.

[Andrew Thrasher, CMT @AndrewThrasher]

@JC_ParetsX @carlquintanilla There’s a version of this chart that’s margin debt to money supply which is a little better a comparison and way to normalize the data. It shows a stretched condition as well but yeah, GDP is a poor denominator.

[Andrew Thrasher, CMT @AndrewThrasher]

@indiana618 @matthughes13 Correct.

[Andrew Thrasher, CMT @AndrewThrasher]

Great chart from JPM showing tech dominance isn't just a domestic topic.

With over 35% of market cap in the U.S, it's also more than one-third of emerging markets and nearly 15% of the Eurozone and Japan as well.

[Andrew Thrasher, CMT @AndrewThrasher]

@sam_gatlin If you’re going to use s&p small cap health care then you should compare it to s&p small cap, not Russell. Apples to apples. They are close but not the same, and does change the stat, not quite making an all time best relative week.

[Andrew Thrasher, CMT @AndrewThrasher]

@dailychartbook How does a ratio have an average volume ? Is the VWAP taking the resulting net volume of the ratio? I don’t get it or see how that could be useful. @alphatrends ever use it on a ratio like this?

[Andrew Thrasher, CMT @AndrewThrasher]

@ClaytonCharts All good. Can see why mh saying canary would make ppl think that. 👌

[Andrew Thrasher, CMT @AndrewThrasher]

Korean canary? 🤔

[Crypto Rover @cryptorover]

🚨 ABSOLUTE BLOODBATH IN SOUTH KOREA

KOSPI crashed nearly -10% today, marking the 3rd largest crash in the index’s history.

Over ₩800 TRILLION wiped out in a single session.

Samsung Electronics crahsed -12.3%.
SK Hynix crashed -12.5%.
Hyundai crashed -12%.

[Andrew Thrasher, CMT @AndrewThrasher]

@ClaytonCharts Wasn’t necessary referring to my paper but more the tech trade/theme and how Korea had their mini mania over last couple of months and if this will bleed to US tech, so far this morning appears to be.

[Andrew Thrasher, CMT @AndrewThrasher]

Goldman throwing some cold water on the momentum trade...
"a narrow-breadth Momentum rally had driven the sharpest two-month S&P 500 return since 1971, when scaled relative to volatility. Following similarly sharp rallies in the past, the Momentum factor has usually struggled during the subsequent few months."

[Andrew Thrasher, CMT @AndrewThrasher]

Stocks. Don’t. Have. Bear. Or. Bull. Markets.

[Brew Markets @brewmarkets]

SpaceX has entered bear market territory.

[Andrew Thrasher, CMT @AndrewThrasher]

@TKopelman Congrats Thomas! A great sign of your hard work and dedication to helping clients