EarningsBeats.com Digest

Published: Mon, 01/06/20

EarningsBeats.com Digest for January 6, 2020

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Dear EarningsBeats Digest Member,

Market Vision 2020 Conference Recordings

This weekend's Market Vision 2020 online financial conference was a GREAT success! We've already received many positive reviews as Keynote Speaker John Murphy kicked off the event and Tom Bowley closed out the day with his forecast for the year along with his 15 Top Stock Picks for the year. And, in between, seven of the most qualified market technicians laid out their own visions for the year.

We're now in the process of editing and finalizing the recordings for each of the presentations, nine in total. And, once they are done, they will be made available to both participants and those who were unable to attend the event but want to get access to the recordings and accompanying material. If you want to learn how you can access this highly educational content, complete the form below and we'll get back to you with more information.

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Industry Changing of the Guard?

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It's definitely way too early to begin changing portfolio structure and trading strategy, but it's worth noting that the best industry over the past month on a relative strength basis is oil equipment & services ($DJUSOI). Its relative PPO on a weekly basis still remains negative, but it closed each of the past two weeks above its 20 week EMA. That hadn't happened since May 2018, more than 1 1/2 years ago. If you remain skeptical, I cannot blame you as we've seen temporary bullish signals completely fall apart over the past five years. I do, however, believe this time could be different. First, look at this 7 year relative chart of the DJUSOI:

The reason this rally could be different is that I believe the U.S. Dollar Index ($USD) is poised to weaken to perhaps test its 8 year uptrend line. Should we fall back that far on the USD, I'd expect to see very strong action in energy (XLE), perhaps even leadership from this sector throughout Q1. I plan to discuss this in much more detail during Trading Places LIVE at 9am EST. Join me for today's show if you're able. If you can't make it, be sure to check out the recording over at our EarningsBeats.com YouTube channel later today.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
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