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 Kimmy Sokoloff

It was a mixed day overall, with Big Tech lagging.

$IWM was the clear leader and has potential to 190.

The largest insider buy on today’s list comes in a Form 4 filing by Daniel David Daniel III, director of Domo Inc $DOMO.

Daniel reported a purchase of 26,400 DOMO shares, equivalent to $357,580.

From the Desk of Kimmy Sokoloff

We have a big week ahead of us, with quite a few Fed speakers and CPI.

$SPY and $QQQ reversed lower on Friday, and the oil services sector was on fire.

Question is, will it continue. I'll be watching some of these names.

From the Desk of Kimmy Sokoloff

The market ended the week on an up note.

Overall, the indices traded higher and names lifted.

We held our July Monthly Strategy Session on Wednesday night. ASC Premium Members can click here to review the recording and the chartbook.

Non-members can get a quick recap of the call simply by reading this post each month.

By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends.

This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.

With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.

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 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 price is rising. That's good enough for us.

The largest insider buy on today’s list comes in a Form 4 filing by Jane T. Elfers, president and CEO of The Children's Place $PLCE.

Elfers reported a purchase of 43,000 PLCE shares, equivalent to $1 million.

From the Desk of Kimmy Sokoloff

We have data coming out at 8:30 a.m. ET that could potentially move this market.

Not much is striking me today.

The Dow Jones Industrial Average is the world's most important stock market index.

While many think the "pros" use the S&P500 because they may be benchmarked to it, those "pros" are not your problem.

DON'T FIGHT PAPA DOW, is how I learned it.

If you get the Dow 30 right, you'll get the S&P500 right.

And if you're going to do a sum of the parts analysis, would you rather try to get the direction of 30 stocks right? Or 500?

With the S&P500 already hitting new 52-week highs, do you think the Dow is next?

They look the same don't they?

From the Desk of Kimmy Sokoloff

I said this morning that if we break the 440 level on $SPY we can see 438.

We hit 437, then we bounced.

We'll see what tomorrow brings.