The Inside Scoop (10-18-2022)

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

While the S&P 500 and other major averages made new lows last week, fewer stocks made new lows beneath the surface. 

Not only is downside participation narrowing. But the list of new highs is slowly growing. 

While it’s nowhere near where it needs to be to give us a bullish signal on the overall market, it is giving us a growing number of opportunities in individual names.

Let’s talk about some charts that we like buying (or preparing to buy) from our Inside Scoop universe right now.