From the Desk of Kimmy Sokoloff

Let's see what this week brings, as we have the FOMC on Wednesday.

Next support down on $SPY is 440.

The stock market correction continues....

What else would you expect during this seasonally weak period for stocks?

Historically, stocks do very well after mid-term elections. And that's exactly what happened.

Then in Q3 the struggle tends begin for a few months.

And that's precisely what we've seen this year. A perfectly normal market:

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

Happy New Year to those who celebrate Rosh Hashanah!

The market took a nosedive today.

And there's potential for continued weakness next week.

This is the video recording of the September 15, 2023, Hot Corner Insider Weekly Strategy Session.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Biotechnology Value Fund LP.

The hedge fund revealed a purchase of roughly $14.8 million in Olema Pharmaceuticals $OLMA.

From the Desk of Kimmy Sokoloff

That was a big day for the market yesterday, but it still felt slow or weak up until noon.

We have potential to see 455 on $SPY if we continue to hold 447.

We just saw a $50 Billion Tech IPO successfully issued into public markets.

Remember those?

But before we get into growth stocks, let's just put the overall market into perspective.

It was nice to get away from the screens for a few days, while we were out at Future Proof in California. But not much has changed now that I'm back home.

Here's a shot of us during my panel discussion at the Conference:

From the Desk of Kimmy Sokoloff

The market tracked higher most of the day, with $SPY closing that 449.17 gap I mentioned this morning.

Energy stocks and commodities remain front and center.

Our equity plays are running toward our upside objectives. Natural gas is attracting a bid. And bulls are eyeing $100 crude.

With that as our backdrop, we reviewed the energy space on yesterday’s "What the FICC?" episode.

And it appears the next leg higher for crude and its crew has commenced…

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

We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.

However, when it comes to our latest project, it couldn’t be any simpler!

With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.

Welcome to The Junior Hall of Famers.

This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.

There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if the price is rising. That’s good enough for us.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Ares Management LLC.

The hedge fund reported a purchase of roughly $2.1 million in Frontier Communications Parent $FYBR.