FINANCIAL ICEBERG
Always consider hidden risks



Jean-Pierre Desloges CFA  is a professional  investment consultant/ blogger/ trader with over 25 years of experience working on the buy and sell-side.

​​I have researched and invested in traditional and alternative asset classes and worked at Pensions Funds, International Banks and Dealers.   
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Market Insight​

September 24

US Technical Charts Potpourri
​The SP500 Index continue its grinding range trade technical pattern;​Within a Strong Price Compression phase from a Weekly Rising Wedge...
​​
Canadian Technical Charts Potpourri
​The XIU ETF finally started to out perform the SP500 Index (SPY ETF) as the Bank of Canada hikes rates last week and was mainly beneficial to Banks stocks.

The Great Equity-For-Debt Swap
The ‘great shrinking stock market’ is almost exactly offset by the ‘massive growing corporate bond market’ and the end result is a sharp increase in corporate leverage.
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​​September 17

SP500: A Nervous SKEW and a Complacent VIX?
​That shows how Traders are not in full comfort mode (into a too low volatility environment and paying agressively for some options hedges) and still within a strong Complacent Phase for Market Participants...​

US Technical Charts Potpourri
​The SP500 Index continue its range trade technical pattern; Within a Strong Price Compression phase from a Weekly Rising Wedge

Canadian Technical Charts Potpourri
​The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 15 weeks ago (mainly the interest sensitive sectors) with two rate hikes


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​​September 10

US Stock Market History Valuations
​So it become clear to me that the tail risk that investors face right now is that easy money is behind us...

US Technical Charts Potpourri
​SP500 Index continue its range trade technical pattern;The correction is still more in time than in prices for now...

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) consolidation continue on higher rates fear.​Stronger Canadian Economic data lately relative to the US will continue ​push the BOC to act on rates going forward.
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​​September 3

US Technical Charts Potpourri
​Uncertainties surrounding the US stock market is increasing technically speaking but the correction til now is more in time than in prices.

Canadian Technical Charts Potpourri
The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 13 weeks ago (mainly the interest sensitive sectors) and NAFTA renegociation started.


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​​August 27

DJ Transportation ETF IYT: Divergence Prevail?
But most importantly, what puzzle me the most is that, that Big Divergence continue to prevail between Dow Jones Transportation the Dow Jones Industrials and the Mighty SP500 Index

​​US Technical Charts Potpourri
​The SP500 Index made a Daily Shooting Star on August 8;  ​it was an early ​signal of of a potential correction in the stock market.The correction is more in time than in prices for now

Canadian Technical Charts Potpourri
Canadian Stocks (XIU ETF) consolidation continue on higher rates fear.​Stronger Canadian Economic data lately relative to the US will continue ​push the BOC to act on rates going forward
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​​August 20

US Technical Charts Potpourri
Uncertainties surrounding the US stock market is increasing technically speaking: Big capitalization outperforming, High beta stocks under performing and we had an Hinderburg Omen on August 17.

Canadian Technical Charts Potpourri
​The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 11 weeks ago (mainly the interest sensitive sectors) and NAFTA renegociation started.


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​​August 13

Some Cracks Appearing in US Stock Market Indices
​Quite interesting to note that major technical divergences for those three ETFs did not confirm the last new highs in the Indices.

US Technical Charts Potpourri
​The SP500 Index made a Daily Shooting Star on August 8 (not shown here); it was an early ​signal of of a potential correction in the stock market.
​​
Canadian Technical Charts Potpourri
​The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 10 weeks ago (mainly the interest sensitive sectors)

August 6

SP500 Index (SPY ETF): Zoom In Zoom Out
​As the most hated bull market in history continue its long stretch, it remains a very atypical market as momentum seems more important that value investing. As geo-political risks is on the rise, market behavior is still on the complacency side...​​​​As the retail investor are chasing aggressively that rally into more Big Cap technology stocks, the market becomes more vulnerable when/IF we will have a correction

US Technical Charts Potpourri
​Still Major Sectors rotation keeping near the highs on the SP500 Index (SPY ETF). Within bear seasonalities time frame.

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) consolidation continue on higher rates fear.​Stronger Canadian Economic data lately relative to the US will continue push the BOC to act on rates going forward.

​​​​​August 1

Monthly Technical Charts Potpourri
Starting to see too much weakness in the US Dollar Index as seen lately could be the hidden risk here for the global markets

July 30

​​Nasdaq 100 Index ETF QQQ: When Tech Generals Becomes the Market
​W​​e must realize that the last up leg of the market is lead by technology stocks (Mainly the Generals high Capitalization stocks) and we must monitor the risks accordingly within our portfolios. QQQ ETF strong out performance make it Feel When the Tech Generals Becomes the Market.

US Technical Charts Potpourri
​Still Major Sectors rotation bringing new high ever on the SP500 Index (SPY ETF).

Canadian Technical Charts Potpourri
​The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 8 weeks ago (mainly the interest sensitive sectors).

Typical August Pattern: Mid-Month Surge​​​​

July 23


SP500: A Nervous SKEW and a Complacent VIX?
​We keep getting into Steady and Puzzled Markets, a kind of uncharted territory...​​ As Trumpification of financial markets is in full fade mode with a weakest US Dollar Index since June 2016, the market start to feel uncomfortable with the pace of the rise in stocks prices.

US Technical Charts Potpourri
​Surprisingly weak Consumer Sectors associated with that brand new high ever on the SP500 Index (SPY ETF).

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