Juan Carlos Parets — also known as JC Parets — is the founder and chief market strategist at All Star Charts, a technical analysis research platform that he launched in 2010 in New York.
Over the years, JC Parets has built a massive following for his no-nonsense approach to the markets. His motto is a good example of his straightforward attitude to investing: “it’s not about being right, it’s about making money”.
Looking at the share price performance of the S&P 500 so far this year, Parets thinks that there is currently more market breadth expansion than there has been in the last 30 years. This, he says, makes it a great time to buy.
Despite the market downturn in March, the Nasdaq Composite and Nasdaq 100 continuing to soar.
“New all-time highs, they're just not something we see in downtrends,” Parets told Opto. He explained outperformance is stemming from stocks in the Dow Jones Internet Index, the biotechnology index, the internet retail index and social media space.
For more on Parets’ gain-making techniques and strategies, listen here.
Parets does expect more pullbacks like those experienced in June, but he’s not perturbed.
“What we like to do is look to see what the relative strength looks like and what areas as showing the most resiliency when the rest of the market is under pressure,” Parets explained.
“For me, if we can focus less on the indexes and more on the individual components that are doing well, I think that will be advantageous in the coming month.
Source: This content has been produced by Opto trading intelligence for Century Financial and was originally published on cmcmarkets.com/en-gb/opto