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I’m going to keep zigging while everyone else is zagging.

US equities aren’t even close to out of the woods. 

The bulls were just out here flexing about two green candles. Are you kidding me?

The truth is, this has been a bush league bounce. 

I took some shots, but most of them did not work. So, I’m raising more cash today and loading into some short exposure. This is the most I’ve had all cycle.

Let the non-disciplined buy this dip. There is simply no reason to rush in right now. Until the major averages reclaim their key levels, the bears are firmly in control.

I’m more...

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U.S. equities are running into a major confluence of resistance after a weak rebound in recent days.

Until buyers step up and show some serious follow-through, sellers are likely to remain in control.

When looking at the most crucial risk-on groups, two sectors are approaching a resolution that could set the tone for the weeks and months ahead.

First, Large-Cap Technology relative to the S&P 500 is teetering just above the lower bounds of a two-year topping formation.

With Tech representing roughly 30% of the S&P, a breakdown here wouldn't just be a sector-specific issue—it could have broader implications for the entire market.

Adding to the concern, Home Construction $ITB, a critical...

This post was originally for paid members only. It has since been unlocked for informational purposes and does not constitute financial advice.

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U.S. equities are facing a key confluence of resistance, putting buyers to the test.

Earlier this month, we bet on Homebuilders holding their ground within a potential topping pattern, but the bulls couldn’t get it done.

We already sold the double on our PHM calls, and now we want to take a shot at this group from the short side.

So, let’s flip the script and see if the bears can get it done now. 

This is a massive distribution pattern. If it completes...

Thanks to everyone who joined us for today's Hot Corner Insider Weekly Strategy Session.

Every month, I do a monthly Town Hall for my premium members at Macke's Retail Roundup+. This is meant to be a chance for my members to interact directly with me. I'll go over my portfolio, talk about my recent trades, and answer your questions. 

Watch the video and talk to me in chat below.

From the desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

In this scan, we look to identify the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega cap status (over $200B).

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.

When you look at the stocks in our table, you'll notice we're only focused on Technology and Growth industry groups such as Software, Semiconductors, Online...

McCormick & Company $MKC reported earnings on Tuesday.

This is the company that has grown into the leader in all things related to flavor. Their products include Frank's RedHot, Cholula, and much more. 

It's basically impossible to have a kitchen without a McCormick label.

The stock has been a leader in the Consumer Staples sector and has rallied after its last 5 earnings reports. This is one of the longest beat streaks in the S&P 500.

Following the release of its report, the stock opened 5% lower but rallied throughout the day to close nearly flat for the session. It was an epic comeback for the bulls!

What initially spooked the market?

It was all about the guidance. 

The market was expecting the company to announce an upward revision of its forward guidance. Instead, they maintained the current guidance.

Let's talk about what else happened.

*Click the image to enlarge it

As you can see, McCormick reported a double miss. Their revenue was in line, but the EPS number came in 4 cents below the estimate.

There is a significant...

Darlington Partners made a splash with two big software plays.

📌 The money manager filed an initial 13G disclosure for OneStream Inc $OS revealing a 5.30% stake.

📌 In another 13G, Darlington reported a 5.20% position in Shift4 Payments Inc $FOUR.

The firm’s moves signal fresh institutional interest in the software space and underscore its strong commitment to both companies.

Here’s The Hot Corner, with data from March 25, 2025:

Click the table to enlarge it.

📌 Meanwhile, the CEOs of F&G Annuities & Life $FG and Prospect Capital $PSEC reinforced their confidence with insider purchases of $706,724 and $204,917, respectively.

📌 Last but not least, Broadwood Partners filed a Form 4 for Staar Surgical Co $STAA, purchasing 136,696 shares.

I get a lot of questions from folks who want to get into crypto, but are often overwhelmed.

It seems like this whole new thing that's so different from what they've touched before.

"Louis, where do I start?"

"How can I know these exchanges are safe?"

"What platforms can I reliably use?"

These are all great questions - and I get it, it's confusing touching a whole new asset class.

But let me reassure you; you can think of these cryptos as complex-sounding software stocks. And don't just take my word for it because Bitcoin trades EXACLY like software.

Bitcoin $IBIT is the yellow line while the iShares Software ETF $IGV is the black one. Pretty damn similar, right?

This asset class has never been so accessible to outsiders. I remember back in the day, you had to go through these shaky exchanges and when you sent your hard earned funds over, it felt like it disappeared into the aether.

Well, no longer...

My go-to exchange/platform that I guide a lot of people to is Coinbase; they're doing everything right.

They're a publicly traded company under SEC oversight, operate within U.S. regulatory frameworks, and are...

Today's number is... 24

We have experienced 24 consecutive days where the number of 52-week new lows on the NYSE + NASDAQ exceeds the number of 52-week new highs.

Here’s the chart:

Let's break down what the chart shows:

• The green and red candlesticks in the top panel is the S&P 500 index price.
• The green and red lines in the middle panel is the NYSE + NASDAQ 52-week new highs - 52-week new lows.
• The red shadings in the bottom panel shows the consecutive days with NYSE + NASDAQ 52-week new lows > 52-week new highs.

The Takeaway: Bulls are making a strong effort following the recent market correction. However, NYSE + NASDAQ 52-week new lows are still lingering. This marks the highest level of consecutive days of new lows outpacing new highs we've seen since the last 10% market correction back in October 2023. This is the third longest period of consecutive days with NYSE + NASDAQ new lows > new highs during this current bull market. 

But, the Bulls have completed the first stage...

While the market has been rising early in the week, I've been less than impressed. The volumes in the indexes just isn't there. At least not enough for me to issue an 'all clear' signal to get back to our regularly scheduled Bull Market.

And so, I've been keeping an eye on some weak stocks to see how they'd recover in any broader market bounces.

For today's trade, this stock had every opportunity to reverse course. But it just can't find its footing, which makes me think the next big move is lower again. 

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The energy sector has been the top performer this year, but no one seems to care.

The setup has been building for some time now.

Commodity Trading Advisors (CTAs) are holding one of their largest short positions in Crude Oil in over a decade. 

That’s a historic bearish sentiment.

When positioning gets this extreme, the unwind can be just as aggressive. 

Any shift in sentiment or a supply shock could set off a fierce short-covering rally.

The Large-Cap Energy ETF $XLE is probably the best equity vehicle to express a bullish thesis.

XLE has been coiling at a crucial resistance level for the past three years in the context of a 17 year...

As the first quarter slogs to a close with stocks down for the year and the outlook for the rest of the year "murky" at best ("horrifying") at worse it's time to start taking inventory, as they say in the retail industry. There are trades to be had but the real money is going to be made investing at a good price and letting the investment work. It's sort of a waste of time to call Generational Bottoms, there just enough of them. Consumer facing stocks have just been beaten senseless for 3 months; it's time to start looking for opportunities. 

Current Situation: The Pain is Real

I don't need to beat it to death again but the pain has been real. Despite decent trailing earnings there's been a lot of caution from the merchants, mostly based on the impact of uncertainty from tariffs and trade wars. We still don't have details on tariffs, and won't until next week if then, but we're already paying for it in sentiment. Consumer Confidence as measured by outlook for next 6 months just hit 12 year lows. Americans are mad and afraid; typically not times when we spend a lot of money.

Walmart kicked off earning's season by warning of a cautious...

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Rolling XLC to May options.
3. Exited XLE and XRT.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

Steve and I went live to break down last week’s most notable insider buys, filtering the real “smart money” moves from the noise. 

We ranked them from 1 to 5 based on size, the buyer, and the filing type.

Here’s the replay.

📌 Today's standout insider activity comes from a cluster of Form 4 filings by multiple CEOs

• Pebblebrook Hotel Trust $PEB
• Ulta Beauty $ULTA
• F&G Annuities & Life $FG
• Prospect Capital $PSEC

A CEO buying shares is already a strong bet—but when multiple CEOs step in at once, the signal becomes even more compelling.

Here’s The Hot Corner, with data from March 24, 2025:

Click the table to enlarge it.

📌 Starboard Value increased its stake in Qorvo $QRVO from 7.79...

Today's number is... 27%

Only 27% of S&P 500 sectors are currently above their 50-day moving average.

Here’s the chart:

Let's break down what the chart shows:

• The blue line in the top panel shows the price of the S&P 500 index.
• The red line in the top panel shows the 50-day moving average of the S&P 500 index.
• The black line in the bottom panel shows the percentage of S&P 500 sectors above their 50-day Average.

The Takeaway: As of yesterday's close, only 27% of S&P 500 sectors are currently trading above their 50-day moving average… In short, this breadth reading needs to improve sooner rather than later, as the S&P 500 typically faces challenges when the majority of sectors are below their 50-day moving averages. 

The 10% correction we experienced in late February into early March caused some damage to the intermediate trend. However, over the past seven trading days, we have seen a resurgence of bullish activity, with the S&P 500 index climbing over 4%. While...

The U.S. markets have rebounded after reports the White House is easing their position on tariffs.

Most importantly is that this news has provided fertile grounds to build a new rally, and with the S&P 500 back above a key level of support the bias has shifted to a more optimistic one.

While value has climbed to the top of the rankings in recent weeks, we could see growth mobilize up the ladder as we see the trends that have persisted over the last month mean revert.

In other words, the short-term outlook has improved and it's in favor of growth right now.

Yesterday, Steve Strazza and Alfonso Depablos went live to discuss the screaming hot insider transactions hitting the tape as markets rebounded.

You want to know what the best insiders are buying? Click here to see the...

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Those bear flags we discussed last week have since resolved higher.

After a little pop on Friday, today marks a critical follow-through day for the broader market.

But we already talked about how an oversold bounce was basically a foregone conclusion. We literally knew it was coming. The fact that we finally got it is not a bullish data point.

The next step now is to measure and judge the quality of this rally. There could be some bullish evidence there.

I already outlined some of the most important levels I’m paying attention to.

It’s all about VWAPs for the major averages. The large-cap indexes have the August VWAPs, and the SMIDs have the Q4 2023 VWAPs. They’re all right there.

Here’s the S&P 500 drawn up to show the confluence of resistance around this level.