Getting our first look at consumer-facing outlooks now that we've gotten through the tedious Banks portion of earnings season.

Notable takeaways:

• Hasbro was surprisingly good but it's not really "game on" until Q3 and Q4. Gets 50% of Toys and Games from China but has a reasonably flexible supply chain. Says earnings hit from tariffs will be $60 - $180 million hit to net earnings (LY net was only $385mm). Helped by digital focus. 

• Pepsi seemed pretty resigned to consumers being too price-conscious to buy snacks. 

• Chipotle has first negative comps since COVID. Said business fell off in late February and has continued worsening since. More people eating at home (but not buying Pepsi(?)). Fired shots at the entire outlook for QSR by insisting execution is great and the company is taking share.

I have big news to share! 

I’m thrilled to announce that earlier this year I was named Chief Market Strategist of All Star Charts Research. 

As many of you know, I have been the full-time Director of Research at All Star Charts for the past 5 years, and have run the entire analyst team during this period. 

JC Parets and I together assembled what has turned into one of the greatest teams of traders and analysts on Wall Street. 

This team has helped me deliver the daily research and put out all the great analysis and trade ideas that you see here today. 

Training our research analysts and watching them grow and develop over the years is one of the things I’m most proud of at ASC. These guys are absolute killers.

We have one of the most talented and deepest teams in the business, and with the support of guys like Alfonso, Sean, and Louis, I am confident that we’re...

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

1. No new positions today.
2. Adjustment to XLC position.
3. Closed ITB at profit target.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

Tesla's latest earnings report delivered a double disappointment, with revenue and profits falling short of expectations. 

Revenue declined by 9% year-over-year to $19.3B, and operating income plummeted 66% to $400M. 

Automotive revenue dropped 21%, which caused the company to pull back on its 2025 growth forecast.

Despite these setbacks, Tesla's stock surged nearly 9% to an intraday high of $259.45. 

This rally was fueled by CEO Elon Musk's announcement to reduce his involvement with the White House's Department of Government Efficiency (DOGE) and refocus on Tesla. 

Investors were also encouraged by updates on the company's progress in autonomous driving and robotics, including the upcoming launch of a robotaxi service and affordable vehicle models.

While the market remains cautious due to ongoing challenges like tariffs and brand perception issues, Musk's renewed commitment to Tesla and its innovation pipeline has boosted the stock price.

So what else did we learn from yesterday's earnings reactions? Let’s dive into the details.

The largest insider buy of the day comes from none other than media mogul John Malone, who dropped $351,080 into Atlanta Braves Holdings $BATRA. 

Meanwhile, we had twin votes of confidence in Texas Capital Bancshares $TCBI. 

Director Robert Stallings stepped in with a $289,215 purchase, while North Reef Capital filed a 13G, revealing an initial 5.60% stake. 

That’s conviction on two fronts.

Here’s The Hot Corner, with data from April 23, 2025:

Click the table to enlarge it.

We also spotted activity at KeyCorp $KEY, where Chief Risk Officer Mohit Ramani scooped up $151,792 worth of stock.

Last but not least, Sen. David McCormick joined the crypto crowd, disclosing a buy of $115,000 to $250,000 in the Bitwise Bitcoin ETF $BITB.

Today's number is... 2022

The percentage of stocks in the S&P 500, S&P 400, and S&P 600 with their 50-day moving average above their 200-day moving average have declined to levels not seen since the 2022 market downturn.

Here’s the chart:

Let's break down what the chart shows:

• The black line in the top panel shows the price of the S&P 500 index.
• The blue line in the bottom panel represents the percentage of S&P 500 stocks with a 50-day moving average greater than their 200-day moving average.
• The gray line in the bottom panel represents the percentage of S&P 400 stocks with a 50-day moving average greater than their 200-day moving average.
• The red line in the bottom panel represents the percentage of S&P 600 stocks with a 50-day moving average greater than their 200-day moving average.

The Takeaway: When we look beneath the surface, it's evident that most stocks are in downtrends.

Only 38% of S&P 500 stocks are experiencing uptrends, while just 29%...

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The market feels like a rollercoaster these days — volatile, messy, just trying to find its footing.

Headline-driven rallies and big swings in both directions is now the norm, and there’s no sign this will stop any time soon.

But things are getting interesting as major levels in the S&P 500 $SPY are coming back into play. 

The bulls came out this week. Let’s zoom in.

We’ve got the VWAP from the all-time highs and the VWAP from the April lows converging into a tight range. This is what our friend Brian Shannon calls a “VWAP pinch.”

This kind of compression often signals a buildup of...

From the desk of Steve Strazza @Sstrazza

Dividend Aristocrats are easily some of the most desirable investments on Wall Street. These are the names that have increased dividends for at least 25 years, providing steadily increasing income to long-term-minded shareholders.

As you can imagine, the companies making up this prestigious list are some of the most recognizable brands in the world. Coca-Cola, Walmart, and Johnson & Johnson are just a few of the household names making the cut.

Here at All Star Charts, we like to stay ahead of the curve. That's why we're turning our attention to the future aristocrats. In an effort to seek out the next generation of the cream-of-the-crop dividend plays, we're curating a list of stocks that have raised their payouts every year for five to nine years.

We call them the Young Aristocrats, and the idea is that these are "stocks that pay you to make money." Imagine if years of consistent dividend growth and high momentum and relative strength had a baby, leaving you with the best of the emerging dividend giants that are outperforming the averages.

By...

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...

Yesterday’s strong gains across the S&P 500, Nasdaq, and Dow were hard to ignore. After nearly two weeks of chop and fear following the "Trump Pump" regarding the 90-day pause of tariffs, we finally saw a full day, broad-based rally with real thrust behind it.

While I would’ve preferred to see overwhelming volume — something that just blows the 50-day average out of the water — we did get a clear uptick in volume versus the previous day. And according to the framework laid out by William O’Neil and Investor’s Business Daily, that technically qualifies as a follow-through day.

So, what exactly is a follow-through day, and why does it matter?

William O’Neil, founder of IBD and author of the classic trading book How to Make Money in Stocks, coined the term to help identify potential market bottoms. The idea is that true, lasting bottoms are rarely identified by a single day’s bounce. Instead, the market needs a few days to digest the low — then show strength, in the form of a powerful rally on increased volume.

Here’s how IBD typically defines a follow-through day:

“A follow-through day is a...

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.

Yesterday, we saw large gains in the S&P 500, Nasdaq, and Dow Jones Industrial Averages. While I would've preferred to see these big rallies come on overwhelming high volume that far exceeds the average, we did close on an increase in volume, which technically qualifies as a "follow-through day." 

While this isn't a guarantee that we've seen the bottom of recent price action, it does add some credence to the idea that the recent lows may be a little more durable and hold for a while.

If the market turn is here, then now would be a good time to take some fliers on previously high-flying names that took a dip with everything else in the recent morass.

Today's trade is that.

On Monday afternoon, with US stocks off 3% and dropping the President concluded a meeting with top executives from Walmart, Target and Home Depot. According to Axios, executives told Trump supply chains were in a state of disruption and "shelves will be empty". This wasn't a hypothetical risk of the burgeoning trade war but an actual business fact, happening today. 

Almost immediately, there were whispers of a shift in strategy on the trade war front. More importantly, to our immediate financial interests, stocks started coming off the lows.

As the White House has continued to offer more measured thoughts on trade of goods not critical to national security, the stocks hit hardest by the relentlessly negative drumbeat of news since Liberation Day started to rally. 

Dicks, Gap, Lululemon, seemingly half the stocks in the mall are up 10% since the lows Monday, with some of our favorites leading the way:

 AEO and Gap, two companies which have spent the last 5 years building supply chains all over the world only to see more or less everything shut down by Draconian fees that were constantly changing, are in the...

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

1. Adding new position in XLE.
2. No adjustments are needed today.
3. Closed XLB position.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

We just heard from some of the world's largest aerospace and defense companies.

These giants posted strong quarters — revenues were solid, profits held up, and their backlogs are looking stronger than ever. Demand isn’t the problem at all. From commercial aviation to defense contracts, the pipeline is booming.

But there’s one big problem…

Tariffs.

New and escalating trade tensions are casting a long shadow. These companies are facing rising costs due to tariffs on key materials like aluminum, steel, and advanced components sourced from abroad. And Wall Street has noticed.

Despite solid fundamentals, the market reaction has been lukewarm — or even negative — because investors are worried about how these tariffs will eat into future margins.

So what else did we learn from their reports? Let’s dive into the details.

*Click the image to enlarge it

Equifax $EFX had the best reaction score and...

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

The most significant insider filing comes via a 13G from Apollo Global Management.

Apollo revealed an initial 5.10% stake in XPLR Infrastructure $XIFR.

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

Click the table to enlarge it.

We also saw an aggregate $100,217 buy at Neogen Corp $NEOG by multiple company directors. 

It’s not the largest number we’ve seen lately, but it’s always worth flagging when insiders move in a group.

Finally, Long Focus Capital Management filed a 13G for FTAI Infrastructure $FIP, disclosing a new 5.0% position.

Today's number is... 43

There have been 43 consecutive days in which the number of 52-week new lows on the NYSE and NASDAQ has exceeded the number of 52-week new highs.

Here’s the chart:

Let's break down what the chart shows:

• The blue line 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 minus 52-week new lows.
• The red shading in the bottom panel shows the consecutive days NYSE + NASDAQ 52-week new lows > 52-week new highs.

The Takeaway:When this downtrend is ready to reverse, we will notice a sharp decline in new lows, followed by a gradual increase in new highs. 

The Bulls completed the first stage of finding a bottom. Stocks must first stop declining, as we have witnessed a collapse in new lows. However, we have not yet seen any meaningful movement in the second stage, which is the gradual expansion of new highs.

Over the past 43 days, it still remains that there are more...