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

1. No new positions.
2. Rolled SMH position to August.
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 most significant insider buy on today’s list comes via a Form 4 filing by ProKidney Corp $PROK director Pablo G. Legorreta.

Legorreta acquired 22,617,909 PROK shares, equivalent to $54 million.

From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider buy on today’s list comes via a Form 4 filing by ProKidney Corp $PROK director Pablo G. Legorreta.

Legorreta acquired 22,617,909 PROK shares, equivalent to $54 million.

These are the registration details for our LIVE Mid-month Conference Call for Premium Members of All Star Charts.

Our Live Call will be held on Wednesday June 19th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.

Here are the details for Wednesday evening:

On Friday you saw the highest weekly close for the S&P500 in history.

Do you know how many stocks on the entire NYSE closed at a new 52-week high?

12.

Meanwhile in ETF land, the Nasdaq100 $QQQ and S&P500 $SPY hit new all-time highs on Friday, but we also saw fresh 6-week lows for the NYSE Advance-Decline line. It was also a new 6-month low for the Nasdaq Advance-Decline line, for those keeping score at home.

Here's a chart of all the S&P Sectors on an equally-weighted basis over the past 15 weeks. Consumer Discretionary has been the worst. Utilities have been the best by far.

You'll notice that the Equally-weighted S&P500 and Nasdaq100 have made no progress or are down during this period.

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

I’m avoiding the US dollar and interest rate chopfest.

That includes interest rate-sensitive commodities like crude, copper, and gold.

So, let’s check in with a commodity group that walks to the beat of its own drum…

The New York City Softs: Cocoa, Coffee, Cotton, and Sugar.

First up, Cocoa. 

I’m sure you’ve seen Cocoa’s 45-year base breakout to new all-time highs:

Cocoa futures have been the main attraction, showcasing a face-ripping rally reminiscent of the 1970s.

In the 70s, Cocoa experienced two 400-plus rallies, each spanning approximately two years trough-to-peak (December ‘71 to April ‘74 and June ‘75 to August ‘77).

Cocoa might have another explosive rally in the tank!

For now, it’s bouncing between two critical extension levels:

Bulls are supporting higher prices at roughly 7,200, while bears are capping the next rally at 10,...

From the Desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Crowdstrike and Arista Networks.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

*Click table to enlarge view

We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month.

Then, we sort the...

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 want as many vehicles and options to express...

From the Desk of Ian Culley @IanCulley

I’m avoiding the US dollar and interest rate chopfest.

That includes interest rate-sensitive commodities like crude, copper, and gold.

So, let’s check in with a commodity group that walks to the beat of its own drum…

The New York City Softs: Cocoa, Coffee, Cotton, and Sugar.

First up, Cocoa. 

The recent stock market rally is being led by the mega caps. And there's no reason to think this isn't going to continue for the foreseeable future.

I'm currently under-allocated to the biggest capped names. So today's trade is an attempt to rectify that.

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

1. No new positions.
2. Adjustment to XLK 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 most significant insider buy on today’s list comes via a Form 4 filing by the founder and CEO of Nerdy Inc $NRDY, Chuck Cohn.

Cohn reported a purchase of 569,976 NRDY shares, equivalent to $957,559.

In 2019 Tesla was worth a tiny $30 Billion.

By 2021 Tesla was approaching a market cap of $1.3 Trillion.

The job of a CEO is to increase shareholder value.

Period.

No CEO in history made shareholders more money faster than Elon Musk.

It's just math.

From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider buy on today’s list comes via a Form 4 filing by the founder and CEO of Nerdy Inc $NRDY, Chuck Cohn.

Cohn reported a purchase of 569,976 NRDY shares, equivalent to $957,559.

Bitcoin looks set to end the week down as large-cap growth is driving up the U.S. equity indices. There's a substantial divergence taking place, and I'm betting that Bitcoin catches higher; I just need to see this manifest with a breakout above 73,000.

I keep reiterating the strength in Bitcoin mining stocks. While the short-term trends look set to consolidate in the coming weeks, they have become a favorable sector to craft a more longer-term bullish thesis in the crypto markets.

Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.

The Bull Market is back, baby!

At least, it sure looks that way at the index level as the biggest of the big caps begin new legs higher.

Though, curiously, the two short positions I have on are also showing signs of working out for us.

With $VIX readings continuing to remain low, most bullish bets I’m looking at involve buying options premium since it is quite affordable in this environment.

In this week’s portfolio review, I fielded an important question: “What’s an appropriate account size for trading options?”

Of course, there is no one-size-fits-all for options accounts. But I get into a number of considerations to mull over to determine what is the right size for you.

Check it out:

From the Desk of Ian Culley @IanCulley

The Nasdaq is ripping to new all-time highs. NVIDIA’s market cap is surpassing the three-trillion-dollar mark. And US T-bonds are registering another buy signal. 

But the market’s still a mess. 

Just look at yesterday’s intraday reversal—a bullish reaction to inflation data in the morning, followed by a bearish reaction to the FOMC meeting in the afternoon. Investors are still trying to make sense of the mid-week hoopla.

Friday’s close (the most important data point of the week) will reveal critical information regarding market conviction heading into the weekend.

Meanwhile, you can track high-yield bonds for risk-on confirmation.

Check out the HY Bond ETF $HYG overlaid with the high beta-versus-low volatility ratio (using the $SPHB and $SPLV ETFs):

These two charts are carbon copies over the trailing 52 weeks because HYG is a risk asset...