Health Care stocks were under pressure again this week with the large cap SPDR $XLV falling about 3%.

XLV is now the worst performing sector SPDR over the trailing 1-month and 3-month timeframe.

When we look at Health Care on an equal weight basis, the group looks even more vulnerable.

Here's a chart of the Invesco Equal Weight Health Care ETF $RSPH: 

The US Dollar Index $DXY has been on a tear since the turn of the month, bouncing hard off support. 

Typically, a strong dollar would suggest a defensive tone for risk assets. But not this time.

Despite the dollar's impressive run, equities are holding their ground and showing serious resilience. Just last week, the S&P 500 closed at all-time highs.

And when you dig into the chart, DXY is still stuck in the middle of a range

The precious metals complex is ripping higher like never before.

Gold continues to stair-step higher, achieving new all-time highs, and now silver is joining the party.

A major catch-up trade is currently underway as silver breaks out of a multi-year base to its highest level in over a decade.

The chart below shows the correlation between these two metals over the past 15 years.

When I think about the strongest stocks, I’m not just looking for outperformance across different timeframes. The strongest stocks should be back to our through their old bull market highs.

Let’s discuss the materials sector in this light.

The bubble chart below shows the change from the 2021-2022 highs on the Y axis and the 3-month relative change on the X axis. I'm graphing all the materials industry groups to see how they stack up.

When I think about bonds, credit spreads are always at the top of my mind because they provide an excellent gauge of market health.

We simply measure the yield difference between a Treasury bond and a High-yield bond with the same maturity.

Another way to do it is by looking at the prices of the High-Yield Bond ETF $HYG compared to the Treasury Bond ETF $IEI:

Technology stocks have been underperforming for the last three months.

However, when I dive beneath the surface looking for relative strength, software stocks catch my attention.

Here you have the Software ETF $IGV on the cusp of breaking out of a massive base.

IGV soared higher, tacking on 2.14% today as it pierced through the upper bounds of this range.

Today, I joined my friend Patrick on Chart Request Live, discussing all the ticker symbols from the chat.

Click here to watch the replay.

One major topic we discussed at the end of the show was crypto and some equity vehicles to gain exposure to it.

One that stood out was MicroStrategy $MSTR, which continues to show impressive relative strength.

Chinese equities are surging like never before in history.

The iShares China Large-Cap ETF $FXI rallied over 18%, marking its best week ever.

We call this a "momentum thrust". Such extreme readings often precede rallies and tend to occur at the beginning of new bull cycles.

Here's the FXI chart with the 1-week rate of change in the lower pane:

As you can see, this is happening after a test of a critical support level, right at a shelf of former lows.

Precious metals continue to show strength as both gold and silver hit new highs in today's session.

First, it was gold leading the charge, and now silver is making its move.

Let’s take a look at this silver futures chart:

As you can see, silver is breaking out of a multi-year base, with momentum accelerating sharply to the upside.

It has been a great week in Chicago for the Portfolio Accelerator so far!

The entire All Star Charts team and friends are gathered, analyzing charts, having insightful discussions, identifying trade opportunities and delving into trading psychology.

A main theme from this morning's discussion was the importance of setting aside our home-country bias.

As investors, it's crucial to recognize that there are valuable opportunities abroad that we cannot afford to overlook.

One country in particular that stands out is the MSCI Argentina ETF $ARGT.

Let’s take a look at the chart:

Gold has been getting a lot of attention lately as it presses against its highest levels in history.

This is an exciting time to be a gold enthusiast.

Just look at what the price is doing.

Here's a long-term chart of gold breaking out to new all-time highs: