The Inside Scoop (11-25-2022)

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

The Dow Jones Industrial Average has rallied 19.60% since its September 30 closing low. On Friday, the large-cap blue-chip index notched another major achievement by reclaiming its pivot highs from August.

The S&P 500 and the Nasdaq 100 haven't fared nearly as well, as both are only up a little more than 10% from their respective lows.

However, when we look outside the US, countries like Germany and the UK are enjoying their biggest win streaks since early 2018.

For risk assets to finally put in a durable low, we need participation from stocks outside the US. We're finally getting it.

Amid all the bullish developments, we want to give the Nasdaq and S&P some time to get things in gear and play catch up.

In the meantime, we're starting to find more and more long opportunities in individual issues. This speaks to improving market internals.

We're also seeing more and more insiders and institutions buy into the rally over the past two months. This speaks to improving sentiment.

Let's talk about some new favorites from our Inside Scoop universe.