Investing

9 Top Charts for the Week of June 22-26: QQQ, S&P 500, Gold, Crude, Apple, Kraft Heinz, Urban One and More

Kraft-Heinz Finally Stops Kicking Warren Buffett

Is The Kraft-Heinz Company (NASDAQ: KHC) ready to keep breaking out of its long slumber? Warren Buffett’s “other worst investment” might even be starting to look good here. Market technician Carter Worth highlighted this on Friday. With any market cooperation at all, Kraft-Heinz is completing the “Bearish-to-Bullish” reversal and a prospective completion of this bottoming-out process implies a move back up to the $45.00-ish (plus or minus) level.

After closing at $33.48 on Friday, the shares are up well over 65% from its $19.99 low of the last 52-weeks. That said, the 52-week high of $34.00 sounds alarming right up until the reminder that this was a $90 stock back in 2017 after 3G and Warren Buffett went deep into the company.

Source: Twitter

Source: Twitter

Is the New Tech Bubble in QQQ Really a Tech Bubble?

Many investors want to refer to the bubble in technology stocks today and the one aspect that may show this the best is the Invesco QQQ Trust (NASDAQ: QQQ). This chart shows the “QQQ” ETF for the NASDAQ 100 gains that have been seen. While the NASDAQ hit an all-time high despite the recession and despite the COVID-19 pandemic (or should say ‘supported by’?) the point here is that the 127% gain in the index over the last 5 years only matches the final 12 months of gains heading into the dot-com and tech bubble from 1998 heading into the year 2000.

Source: Oppenheimer chart via @allstarcharts and @AriWald on Twitter

Source: Twitter

Citi’s Economic Surprise Index Surges to All-Time Highs

More economic reports are continuing to come in better than expected. The recession has been so harsh and deep that many investors, economists and businesses alike are dismissing it and looking for a rapid return to normalcy. The huge spike in COVID-19 cases is without doubt posing a threat to the stock market and the recovery. That said, Citi has its Economic Surprise Index which measures the strength of actual economic reports versus estimates. Would it be a surprise that this is now at an all-time high?

There maybe a counter-view here and that the social distancing and protective measures are being ignored so much to prompt this recovery that the second wave of coronavirus cases could create more harm ahead. Then again, the current vow is to not close to close down the economy again. Does this support a V-shaped, U-shaped or L-shaped recovery.

Source: Financial Times

Source: Financial Times