Javed Mirza

S&P 500 chart. He's very constructive and bullish. Underneath the surface, a lot of charts are getting quite constructive. Main thing is when you look at the US indices, the mega-caps are really dragging the index down. So while the goliaths are dragging down the index, a lot of other stocks are starting to turn up and improve. Financials, industrials, and materials are really seeing signs of improvement, and this is consistent with a new 4-year cyclical bull market trying to take hold.

Energy. Right now, energy is very late cycle and potentially starting a new cycle. The chart shows that the TSX Energy Index has really gone sideways over the last year. His view is that reward/risk ratio is not great, and so it's likely to become a market performer or underperformer over the next 2 years. You have to look at valuation, relative performance, and where we are in the market cycle. We're starting a new cycle. Energy functions really well at the end of a cycle, because that's a time of high demand when everything's running on all cylinders. Right now, the economy has an empty tank, so demand for energy will be down. Had a good run, now consolidating and that's his concern, it's dead money. So he's cautious.

Gold. Poised to glitter. If we can get a breakout above 1960 (the major resistance level), he suggests there's upside potential to around 2600. Over the last 2 months, he's been recommending exposure to gold equities. One of his top 5 ideas for this year is gold/platinum. 20-year chart shows why he's quite constructive here in setting up for a push higher.

Back to longer term support level. If you're using stop levels, he doesn't mind it here. Add in staggered tranches. Big run from the pandemic, and then a pullback. If it ticks lower, he'd take the position off. As an industrial, should benefit from the start of this cyclical bull market.

Locked in a sideways trading range. Great thing is that you get these really great long-term dividend payments. Should hold in well during market turmoil. Decent performer through 2022. Doesn't mind adding here at its longer term support. Still cautious on energy. Don't overweight.

Signs of an uptrend, but where we are right now, energy stocks are consolidating and pausing. He's much more cautious in terms of reward/risk. Sideways trading range. You could pick up on weakness, but energy won't get going until late 2024 or 2025.

There's a change in the world, and there's real potential that China and Asia sit out part of this next cycle in that they'll be underperformers. Doesn't mind adding exposure here. But you'd be better to get exposure to Argentina (ARGT) or Mexico (EWW). People are hoping for a sharp move up, but he sees more of a choppy, sideways trading range for China and Chinese equities.

Emerging markets exposure. China has had a big correction, definitely a laggard. There's a change in the world, and there's real potential that China and Asia sit out part of this next cycle in that they'll be underperformers. You'd be better to get exposure to Argentina (ARGT) or Mexico (EWW). FXI is trying to put in a longer term low, China's under pressure. People are hoping for a sharp move up, but he sees more of a choppy, sideways trading range for China and Chinese equities.

It's run the cycle of accumulation - markup - distribution - markdown. Cautious. Worried the price is going to be flat for a long time, and your money won't be working for you. You can get good rallies, but in the bigger scheme of things, you could be stuck in a sideways range for quite a while.

Will likely see at least another 10% downside for the NASDAQ. AAPL is a good example, as it's downside level is roughly another 10% away. Fed talk is that rates are going to be higher for longer. A lot of people are focused on the longer term chart being up and to the right, where you can buy the dip and immediately see another leg higher. Very strong likelihood that a lot of these growth names are going to be locked in a trading range. It had a peak and then a correction.

NASDAQ prospects. Will likely see at least another 10% downside for the NASDAQ. AAPL is a good example, as it's downside level is roughly another 10% away. Fed talk is that rates are going to be higher for longer. A lot of people are focused on the longer term chart being up and to the right, where you can buy the dip and immediately see another leg higher. Very strong likelihood that a lot of these growth names are going to be locked in a trading range. It had a peak and then a correction. A lot of the growth area remains under pressure.

Will likely see at least another 10% downside for the NASDAQ. AAPL is a good example, as it's downside level is roughly another 10% away.

Poised to test recent highs and is pushing higher. If it can get above the resistance levels, it can break out to new highs.

Remains in an uptrend, testing the downtrend. If it can break out above that, you've really got blue skies. Looks like it's trying to start another commodity super-cycle.

Less optimistic about energy in the near term. Had a good run, now consolidating and that's his concern, it's dead money. Reward/risk ratio is not compelling.