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

The commodity supercycle will not be televised.

Jim Cramer will not provide commentary on cotton, cattle, and/or the crack spread.

Hollywood will not make a movie on crude oil trading below zero.

Nor will jeera futures have their turn in the limelight.  

That doesn’t mean we should plug in, turn on and cop out.

Instead, let’s focus on the charts…

Here’s the S&P 500 versus the CRB Index, a simple stocks/commodities ratio:

It’s been commodities over stocks since crude traded below zero in the spring of 2020.

Yes, the correction favoring stocks off the 2022 lows has been significant.

But it’s retreating from a logical confluence of potential resistance – a multi-year downtrend line and a key retracement level. 

Let’s call the recent correction a “commercial interruption.”

I expect many such interruptions during the cycle. As we all know, price doesn’t move in a straight line.

Commodity rallies challenge that notion over...

From the Desk of Ian Culley @IanCulley

Investors are bidding up growth names.

Perhaps it comes as a surprise, given elevated interest rates.

It did catch me off guard, but it hasn’t stopped me from taking advantage of the developing trend.

I’m not the only one noting the peculiar divergence between rates and tech stocks.

Todd Gordon cited a persistent rise in rates as a potential headwind for the growth trade during Friday’s episode of The Morning Show.

(If you haven’t watched his segment, check it out here.)

One of the charts he shared on the subject has also been on my radar…

Here’s the overlay chart of the US 10-year yield and the Small-Cap Value ETF (IWO) relative to the  Small-Cap Growth ETF (IWN):

The rise in the 10-year yield has driven the outperformance of small-cap value, and cyclical assets more broadly, since early 2021.

That relationship has steadily deteriorated...

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

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:

...

From the Desk of Kimmy Sokoloff

It was a down week for the indices, which was warranted.

We'll see if we flag here and head higher or trend down to the 21-day moving averages.

$DIA and $IWM are below their 21-day moving averages, while $SPY and $QQQ are not.

Big cap tech has gotten all the attention in this current bull market rally, and deservedly so. There have been some truly massive gains there.

But as we know from history, the lifeblood of sustained bull markets is sector rotation. And we're seeing smaller caps begin to play catch up to their big brothers.

Today's trade is in a software name that has quietly been rallying since getting wrecked after a disappointing earnings report last November.

But with a bullish reversal pattern off those November lows, we feel the time is right for this quiet rally to get loud.

The next new position in our Paid-to-Play portfolio is:

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

The most significant transaction on today's list comes in a Form 4 filing by Danaos Corp $DAC, which revealed a purchase of $7.2 million in Eagle Bulk Shipping Inc $EGLE.

Danaos has quietly amassed an 11.32% ownership stake in its competitor in recent months.

From the desk of Steve Strazza @Sstrazza

Tuesday night we held our June Monthly Conference Call, which Premium Members can access and rewatch here.

In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each.

Let’s get right into it!

From the Desk of Kimmy Sokoloff

Tech pushed higher yesterday.

Let's see if we have follow-through today.

From the Desk of Kimmy Sokoloff

The market's been in consolidation mode, and that continued today -- except for the typical $AAPL/$AMZN/$GOOGL/$MSFT rally.

$SPY and $QQQ reclaimed their eight-day moving averages.

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

The next new position in our Paid-to-Play portfolio is:

The most significant transaction on today's list comes in a 13G filing by Ecor1 Capital.

Ecor1 raised its ownership stake in Zymeworks Inc $ZYME from 11.80% to 19.90%.

From the Desk of Kimmy Sokoloff

As I write, $SPY and $QQQ are below their respective eight-day moving averages.

They could potentially be heading down to their 21-day moving averages, which is roughly 429 on SPY and 354 on QQQ.

From the desk of Steve Strazza @Sstrazza

Welcome to the 2 to 100 Club.

Something we've been working on internally is using various bottoms-up tools and scans to complement our top-down approach. It's really been working for us!

One way we're doing this is by identifying 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...

From the Desk of Ian Culley @IanCulley

Dollar bulls, be warned!

The US Dollar Index $DXY is sliding toward the lower bounds of a multi-month range. 

Yes, it’s still a sideways mess. And it will remain a mess as long as its former support level holds.

But based on the most recent data, my money is on a downside resolution for King Dollar.

Especially when I consider last week’s breakout in Canadian dollar futures…

Besides the DXY trading below 101, I’ve monitored two key data points for confirmation of continued dollar weakness:

• the euro trading above 1.08, as it constitutes over 57% of the DXY (though recently it’s challenged a 1.10 handle); and
• commodity currencies, including the Australian, Canadian, and New Zealand dollars, reclaiming their respective July pivot lows.

It’s difficult to imagine the DXY ripping higher if its dominant component is completing a bearish-to-bullish reversal. Which the euro is.

Check.

From the Desk of Kimmy Sokoloff

The Nasdaq pulled in the most today, with $QQQ dropping down to its eight-day moving average.

Now, this is either a bull flag or we'll head lower.