The largest insider buy on today’s list comes in a Form 4 filing by Bihua Chen on behalf of Helix Holdings LLC.

Helix revealed an additional purchase of $40 million in MoonLake Immunotherapeutics $MLTX.

From the Desk of Kimmy Sokoloff

$SPY is consolidating up at the 440 level. Should we break it, we can see 438.

The market is digesting the minutes from the June Fed meeting that were released yesterday, and the odds of a rate hike at the July 25-26 meeting have increased.

This is the video recording of the July 5, 2023, Hot Corner Insider Weekly Strategy Session.

This is the video recording of our July 5th Monthly Charts Live Strategy Session

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach.

It's really been working for us!

One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

From the Desk of Kimmy Sokoloff

It was a slow day today, as you might expect on a Wednesday after a Tuesday holiday in July, and I believe the rest of the week will be this way.

Looks and feels like most traders have taken the week off.

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

The new highs list continues to grow as more and more stocks resolve higher from their consolidations.

The word “rotation” is being thrown around a lot these days as value and cyclical groups have risen to the top of the leaderboard over short timeframes.

While the action can be categorized as rotation, I think a better description for what’s taking place is a broadening of the current rally.

Every single sector was higher in the month of June. So it’s not that money is coming out of the leaders as much as it is going into the laggards at an increasing rate.

At the end of the day it’s just semantics. What this expansion in participation means for investors is more bullish chart patterns and more long opportunities.

Let’s talk about some new ones from our Hot Corner universe.

Today’s Hot List is a short one.

Director Richard F. LaRoche filed a Form 4 revealing a purchase of 2,100 shares of National HealthCare Corporation $NHC.

From the Desk of Kimmy Sokoloff

The indices are lower this morning.

We have the release of the minutes from the most recent Fed meeting at 2:00 p.m. ET.

More and more "things" keep making new highs.

This is the sort of thing that happens in bull markets.

You can see Ethereum and Bitcoin both finding support the past year near former resistance levels from the highs in its prior cycle at the end of 2017:

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 to our latest Minor Leaguers report.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

To make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.