From the Desk of Kimmy Sokoloff

As I write this note, the only reason the market is up is because of $NVDA’s earnings.

We have GDP today, and that might change the tune. Hopefully, we continue to hold $SPY 400.

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

From the Desk of Kimmy Sokoloff

$SPY struggled all day to stay above the 400 level.

Now we have support at 396.76. If we break that, we can see 393.20.

From the Desk of Kimmy Sokoloff

We've got FOMC minutes coming today, so let's be on our toes.

We still run the risk that the $SPX can head down to 3,950.

The largest insider transaction on today’s list is a Form 4 filing by Abdiel Capital Advisors.

Abdiel revealed a purchase of $4.5 million in Appian Corporation $APPN.

This is the video recording of the February 2023 Mid-month Conference Call.

From the Desk of Kimmy Sokoloff

The $SPX was down more than 1.5% today, but it was a slow and steady grind lower.

I didn't trade much today, as I want to wait for the right setup.

The largest insider transaction on today’s list was reported in a Form 4 filing by the CEO and President of PayPal Holdings $PYPL, Dan Schulman.

Schulman reported a purchase worth roughly $1.9 million.

From the Desk of Kimmy Sokoloff

We're seeing a decent gap down into the $SPX 4,050 zone. If we break this, we can see 4,020.

We have support on $SPY at 402.65.

The broadest measure of European equities just hit new 52-week highs last week.

As you can see here, Europe went nowhere for 20 years, mostly due to its lack of exposure to high growth stocks like the United States.

And now that those growth stocks have been out of favor, and it's the more Industrial and cyclical stocks leading the way this bull market, Europe is the global leader once again.

It's the U.S. that's the laggard.

Here's the Euro STOXX 600 hitting new 52-week highs and coming out of a multi-decade base:

From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts

This is one of our favorite bottom-up scans: Follow the Flow.

In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.

We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.

Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.

From the desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the week ended February 17, 2023. This report is published bi-weekly and rotated with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.