Javed Mirza

More broadly the S&P 500, the TSX Composite, and the Russell 2000 remain quite constructive. All are trading above 50- and 200-day MAs. Starting to see early signs of some fraying, so market internals are coming off a bit. Market breadth is weakening a bit.

One of the most interesting things over the past couple of weeks is that the S&P and the TSX are making new highs, while the SOXX (Semiconductor) ETF is heading in the opposite direction.

If you look at the gold futures chart, you can see what looks like the end of the consolidation phase and the start of a new uptrend. He's definitely very constructive on gold.

Appears to be a rotation into gold and away from the growthier areas of the market, which is concerning.

Likes that the chart is showing higher highs and higher lows, which is constructive. Improving. His bigger concern is where we are in the market cycle model, transitioning to the "peaking" phase. If we were starting a new cycle, he'd be very bullish here. But markets are up and rounding over, and he's worried about a broader pullback in the next 6-9 months or so.

You could add here, but definitely limit your risk if it gets back to recent lows. $2300 might be the line in the sand.

Continues to improve, seeing higher highs and higher lows. Earnings will be a really good tell for the market. Semis have really come under pressure. Whatever NVDA does after tonight, the broader semis will follow suit. We know that it'll print great numbers, but where will the guidance fit in with expectations and is that already priced in?

Chart continues to look quite constructive, in an upward trend channel. Broadly, starting to see rotation from growth to value. Banks are putting up pretty impressive earnings numbers, so they could still run.

Until last couple of years, lifecos have underperformed the banks. But now, typically a big beneficiary of higher interest rates. This is providing a strong tailwind. Really likes them. He'd be using weakness to add exposure.

Seeing a series of lower highs and lower lows. Starting to trend lower. One of those have it both ways stocks -- participates when markets are up, a place to hide when markets are down. Story's very positive.

Doesn't mind nibbling here. Pocket of support around $170. If it breaks that, time to reduce exposure. Look for the turnaround before you step back in.

Peak in June around $600. Starting to slowly move below the 200-day MA, which is one of the key lines in the sand for him. Definitely trim a bit here. Long-term price momentum stalled, RSI has come off.

Moves in tandem with the semiconductor space. Have to see what happens with NVDA tonight.

Had a really big move higher. Then over the course of June-July and the last couple of weeks, momentum areas of the market have really come under pressure. So it's broader momentum selling. Oversold, so he doesn't mind nibbling here.

Overall, concerned about the lower highs and lower lows. If it can clear ~$860-875, he'd add then.

Chart's volatile, swings a lot, a trader's dream. In the midst of another pullback. One positive is higher highs and higher lows. Appears to be trying to stabilize and hold above recent lows. You can nibble here, but limit your risk around $33.

Calls this the "peanut butter and chocolate" trade :)  The trade worked beyond expectations, but now he's cautious. The CAT chart is also showing signs of stalling. If you're overweight, trim. 

Ideally, you would have reduced exposure around $90 (see the chart). Chart continues to look weak on both weekly and monthly timeframes. Avoid right now. Once it's out of the penalty box, they'll be one of the first to recommend to clients.

Chart continues to work. Higher highs, higher lows. Looks positive, really likes the setup. If it breaks out to new highs, he'd continue to add exposure.

Energy names have had a big pullback. Energy stocks are poised to push higher, and that rising tide should lift all boats. Better to buy the worst stock in the best-performing sector, than the best stock in the worst-performing sector. Energy will continue to see tailwinds over next 6-9 months. He'd buy right here, right now.