From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Charles C. Townsend, director of Gogo Inc $GOGO.

Townsend reported a purchase of GOGO shares worth $2.4 million.

The stock market is near new all-time highs and getting all the attention.

Crypto Currencies are breaking out and everyone is all hyped up for another Defi Summer.

Meanwhile, Gold is quietly hitting new all-time highs.

Never in history has Gold closed at a higher price than it did yesterday:

Banks don't stop falling.

About a year ago, we saw a few tiny banks that no one has ever heard of disappear, and the market moved on just fine.

Is this time going to be like that?

Look at Regional Banks breaking down vs both Large-caps and Small-caps.

So, no matter what you compare them to, Regional Banks look terrible:

From the Desk of Alfonso Depablos @Alfcharts

In today's post, we're talking about a group of stocks that have emerged as the 'Generals' of the current bull market.

You are thinking, “it must be tech.”

It’s not.

Industrials have been just as strong as tech stocks but with far better internals. No other sector has experienced the kind of broad participation we’re seeing from industrials. These are the real market leaders.

Historically, the Industrial sector is the one with the highest correlation to the overall market. So, the strength of these stocks is also sending us very bullish information about the health of this bull market. 

This is great news, but today’s note is about looking under the hood and finding the best opportunities in the various industrial subgroups.

As one of the most diverse sectors, investors have plenty of options in the world of industrials. We did the work and dug into this space to find out what the strongest areas are and where we want to put our money.

Let’s get into it.

Here’s the Large-Cap Industrial Sector $XLI breaking out of a multi-year base:

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This is the video recording of our March 4th Monthly Charts Live Strategy Session

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the week ended March 1, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

Click here for a behind-the-scenes look at our process.

Whether we’re measuring increasing interest based on large institutional purchases, unusual options...

From the Desk of Ian Culley @IanCulley

You can’t keep the gold bugs down.

They’re a hearty bunch full of true grit, choosing to focus on the silver lining while persevering through countless downturns.

Gold, on the other hand, has been an easy target…

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Charles C. Townsend, director of Gogo Inc $GOGO.

Townsend reported a purchase of GOGO shares worth $2.4 million.

This morning, my Head Technical Analyst Steve Strazza joined me on The Flow Show to put our heads together on a new trade:

Strazza loves the Energy sector here, and of all the charts he likes, I liked this one in Valero Energy $VLO the best:

Best of all, options premiums are near the lowest levels of the year for $VLO:

This isn't entirely surprising. The stock has been consolidating just below all-time highs since early 2022. And the consolidation has been continually tightening.

Sideways markets may not stop you out of your positions, but they are likely to wear you out. And when traders are exiting their positions giving up on the thought of any directional movement, options premiums tend to decline because few participants feel the need to protect their positions or aggressively bet on accelerating...

In today's Daily Digest, we'll review:

1. No new positions today.
2. Adjustment to SMH position
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Jim Dolan, the executive chairman and CEO of Sphere Entertainment Co $SPHR.

Dolan reported an additional purchase of SPHR stock worth $3.1 million.

From the Desk of Ian Culley @IanCulley

You can’t keep the gold bugs down.

They’re a hearty bunch full of true grit, choosing to focus on the silver lining while persevering through countless downturns.

Gold, on the other hand, has been an easy target…

Every time buyers have managed to drive the price back to the 2,089 level… 

Rejected! 

Sellers have stepped in, capping price while breaking the hearts of gold bugs everywhere. 

Or so I thought. It turns out you can’t break a gold bug’s heart. 

Try as they might, sellers are no match for gold bugs’ bullish conviction. 

Buyers rushed in, driving price higher following last month’s breakdown:

I’ll admit, I didn’t see this week’s retest and possible breakout coming.

The market simply wore me down. I guess I’m not what you might consider a true gold bug. 

You can call me weak if you like. But that won’t stop me from buying gold futures on a decisive daily close above 2,100 with a target of approximately 2,500.

And it shouldn’t stop you, either.

Gold mining stocks will also spring back to life if gold...

Last week was Crypto Week here at All Star Charts.

And I think the market got the memo.

Bitcoin just hit $65,000 for the first time in over two years.

Bulls remain in full control of the crypto tape, with Bitcoin retesting all-time highs. But as journalists talk of all-time highs, we're remaining mindful that this is a logical place for Bitcoin to consolidate its gains. The question that remains is how Bitcoin resolves from this significant level of supply, and looking further, how rotation impacts the speculative end.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Jim Dolan, the executive chairman and CEO of Sphere Entertainment Co $SPHR.

Dolan reported an additional purchase of SPHR stock worth $3.1 million.

Not sure if you got the memo, but this is still a Bull Market in stocks.

That hasn't changed.

Just to be clear.

And this, I think, is where defining who you are and your time horizon is really important.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

From the Desk of Ian Culley @IanCulley

US Treasuries are taking a back seat to risk assets.

Bond market volatility is declining. Credit spreads are tightening. And Emerging Market high-yield bonds ($EMHY) are breaking out. 

Meanwhile, stocks are posting new all-time highs.

So, how high will interest rates climb over the near term?

My gut tells me not far — at least not in the coming weeks or months…

Check out the US benchmark rate finding resistance at approximately 4.33:

Last month’s high marks a logical ceiling for the US benchmark rate. 

Those former highs coincide with a key retracement level based on the run-up into the October 2023 peak. Plus, the 10-year yield paused at the same level for almost a month during last year's rally. That’s not a coincidence.

If the US 10-year breaks above 4.33, volatility will hit...

From the Desk of Ian Culley @IanCulley

What happened to those everyday commodity contracts the average investor follows?

I’m talking about crude oil, gold, and copper.

These days, it’s all about cattle futures, orange juice, or cocoa hitting an all-time high. 

I’m sure everyone down at the NYMEX or the folks over at the CBOT in Chicago are having a ball. But what about the stock traders trying to get a piece of the action?

Sure, the energy trade is starting to work again. But gold has been a range-bound mess since the summer of 2020. And gold mining stocks have been an absolute dumpster fire.

It just doesn’t make sense amid a commodity bull run…

No, the absence of gold and copper...

From the desk of Steve Strazza @Sstrazza

Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.

We've also sprinkled in some of the largest ADRs from countries that did not make the market cap cut. 

These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.

It's got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.

The beauty of these scans is really in their simplicity.

We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.

Based on the market environment, we can also flip the scan on its head and filter for weakness.

Let's dive in and take a look at some of the most important stocks from around the world.

Here's this week's list:

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