At the top of the list is the Crypto Industry Innovators ETF $BITQ.

What captures our interest is if Bitcoin successfully resolves higher from this 100,000 consolidation band, this group could provide serious alpha to investors.

It's returned investors just shy of +600% since 2023.

Today's number is... 0.0%

After a brief pullback in the larger trend, the bulls have regained control and pushed the S&P 500 higher. The S&P 500 now has a 0.0% drawdown, which means that it's at an all-time high. So, the bull market continues!

Here is a bar chart displaying all S&P 500 bull markets since 1950:

(right-click and open image in new tab to zoom in)

Let's break down what this chart shows:

• The blue bars represent the percentage change of each bull market.
• The red dots represent the total number of trading days for each bull market.
• The blue horizontal dashed line indicates the average percentage change across all bull markets, while the red horizontal dashed line indicates the average number of trading days in bull markets.
• For the data nerds, I have added the data table for each bull and bear market. 

The Takeaway: I define a bull market as a rally that rises by 20% or...

Bears just can’t seem to score any points lately.

They continue to struggle at breaking down even the worst areas of the market. We keep seeing it.

Solar stocks are the latest example.

The whole group was bid up today with some huge moves from the heavily-shorted names. 

Here’s the Solar Index $TAN:

TAN suffered its worst single day performance since the 2020 crash following the election in November. It fell over 10% to new cycle lows.

However, there has been little follow-through in the time since. And today, we saw a nice pop off the pivot lows from last month.

Also notice how TAN hasn’t been oversold for more than a year now as selling pressure has waned. I think bears are slowly losing control. 

They are also positioned way offside when it comes to this basket of stocks. Some of the largest short positions in the market are in the indexes components.

And we can’t finish the bullish argument without discussing the obvious political tailwinds under the new Trump administration.

While I’m...

On today’s call we discussed rolling some positions that have entered the theta decay window. When we still like a setup, but we didn’t buy enough time, we simply buy more calls further out. 

Remember, this is what we did with SOUN. It was a zero before it was our best trade of the year.

Right now, HIMS is coming out of a perfect pattern as bulls regain control of the tactical trend.

We are going to game this roll a little bit and hold onto our existing calls for now. I think we’re coming out of this coil and can get more for them soon.

But in the meantime, let's position in new calls that give us a better shot of winning big.

We’re...

Here's the replay and chartbook from the January 23 Weekly Strategy Session.

Be sure to join us on Thursdays at 11 am ET and maximize your return potential.

With Bitcoin closing in on fresh all-time highs, our crypto-related trades are playing out just as planned.

Our $CORZ 2/21 $17 calls just hit a high of $1.12 this morning.

We put them on Friday for $0.55.

Depending on your entry price, you might already have a double on your hands.

If that’s the case, it’s time to take action—we’re locking in some profits today and letting the rest ride risk-free.

We’re also keeping a close eye on $APLD and $CSCO, as both are approaching double territory.

With CSCO trading at new highs right now, I think we could get the move we need by today’s close.

Set your alerts and be ready for it!

Steve

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

1. New position in XLB.
2. No adjustments are needed today.
3. No exits since the last report.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

From the Desk of Steve Strazza @Sstrazza

We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.

However, when it comes to this one, it couldn't be any simpler!

With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.

Welcome to The Junior Hall of Famers.

This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.

There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That's good enough for us.

The bottom line is it is a bull market. We...

We just heard from 14 of the largest corporations in the world.

The biggest winner was Netflix, $NFLX, which soared higher after a top- and bottom-line beat. The company said it added 19M paid subscribers, the most in its history.

It was a glorious day for the NFLX bulls, but that wasn't it.

Let's go over what else happened on Wednesday.

*click the image to enlarge it

Teledyne Technologies $TDY rallied 6.42% with a reaction score of 3.80 after reporting a double beat. 

The company also issued upbeat guidance for 2025.

Johnson & Johnson $JNJ beat its expectations but fell nearly 2%, with a reaction score of -2.52. 

Stelara sales, one of JNJ's most significant revenue sources, are declining because of biosimilar competition. Management expects that trend to continue, and the stock is declining because of it.

Procter & Gamble $PG rallied nearly 2% with a reaction score of 1.31 on the heels of a double beat. 

The company is continuing to return cash to shareholders rapidly. During the quarter, PG returned...

Let’s kick off with UnitedHealth Group $UNH, where Director Timothy P. Flynn made waves by purchasing 1,000 shares, a buy worth $511,575. 

That’s a confident signal from inside one of the healthcare giants.

Here’s The Hot Corner, with data from January 22, 2025:

Meanwhile, over at Home BancShares $HOMB, Chairman, CEO, and Co-Founder John W. Allison put his money where his mouth is, snapping up 10,000 shares. 

That’s a bold vote of confidence from the man who built the bank from the ground up.

The stock has carved out a massive base for the last eight years. Price is pressing against the top of the range as buyers work on absorbing all the overhead supply at this resistance zone:

If we get a decisive breakout above 30, the path of least resistance will switch higher.

Today's number is... 17.5

Bank of America's US High Yield Option-Adjusted Spread is currently at its lowest level in 17.5 years.

Here’s the chart:

(right-click and open image in new tab to zoom in)

Let's break down what it shows:

• The black line is the BofA’s US High Yield Option-Adjusted Spread.
• The red line is the 40-week moving average of the High Yield Spread.
• The blue line is the S&P 500 index price.
• The gray shading highlights when the high yield spread 40-week average is trending lower.

The Takeaway: Let me explain this data more clearly…

A widening in high-yield spreads (the black line moving higher) typically indicates a risk-off environment. This suggests that investors are becoming more risk-averse and that the economy may be facing challenges. Conversely, a tightening in high-yield spreads (the black line moving lower) indicates the opposite.

If there had been meaningful stress in the stock...

Consumer Discretionary $XLY and Financials $XLF are still the strongest sectors right now.

What's capturing our interest is the rebound we've seen in energy stocks, pictured below.

While this is certainly a positive development for the sector, we're still mindful that the Large Cap Energy ETF $XLE is still rangebound and isn't offering an actionable setup currently.

Jeff Macke has been analyzing retail stocks for more than 30 years. Now, for the first time, he's sharing his ideas in a live model portfolio and sharing his best ideas as part of the Retail Roundup. Learn more in this special live event.

Click here to watch the replay.

We’re at a huge pivot point for the US Dollar. 

It’s in make or break territory—either the dollar cracks here, just like it did after Trump’s last inauguration, or it holds strong and puts pressure on stocks, commodities and the global economy. 

I’m betting the greenback is heading south, and if I’m right, it’ll be a game changer for risk on assets.

Remember what happened to Bitcoin the last time the dollar fell back in 2017?

Historically, a weakening dollar has fueled massive moves across commodities, currencies, cryptocurrencies, and real economy stocks. 

This isn’t just a short term trend—it’s the kind of shift that can set the tone for the next major macro cycle.

The dollar’s next move holds the key to what’s ahead for global markets. 

Thanks for reading.

And be sure to download this week’s Currency Report!

Click here for our Weekly Currency Report.

JC has really been bringing the heat with his chart game lately.

I just rewatched the monthly conference call from Monday night where he ripped through over 115 charts. 

He went over a ton of valuable topics and themes, from forex to sentiment and even some risk appetite.You can sign up here and watch it. These calls are one of the best things we do at All Star Charts.

In the meantime, I stole two of my favorite charts from his slide deck to share with you.

Here’s the first one. This is a textbook topping formation in Eli Lilly $LLY with a peak marked by the old reliable magazine cover indicator from October of last year.

The timing from these headline writers is just too good sometimes. This is the millionth example. They nailed it again.

They call them the “everything drugs.” They are probably not, but let's just go with it. This excerpt is all you need to know about the vibe on the street for GLP-1 stocks.

“[GLP-1 drugs] started as treatments for...

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

Today's trade leverages the flexibility of calendarized options spreads to put us in a long, free position for a potentially long ride.

This would be a highly desired position of strength.