This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
Observations from Urgent Care
International Hall of Famers (06-07-2024)
From the Desk of Steve Strazza @Sstrazza
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.
Copper’s Sharp Drop Shocks the Bulls
From the Desk of Ian Culley @IanCulley
Copper Springs into Action… Buyers Dig Copper… Copper, F%$# Yeah!
Those are a few titles I spitballed last night. But the markets wouldn’t have it.
This morning, the overall theme of the metals space turned on its head, trashing my bullish bias.
To be clear, I still have a favorable outlook for base and precious metals over longer time frames…
Yet we’re all forced to navigate the near-term selling pressure.
Investors Ice the Bond Market Rally
From the Desk of Ian Culley @IanCulley
G7 central banks are cutting rates – first Canada and now the European Union.
Will the Federal Reserve follow suit in the coming months?
Investors seem to think so…
Let’s Find The Next $100B Company
2 to 100 Club (06-05-2024)
From the Desk of Steve Strazza @Sstrazza
Welcome to The 2 to 100 Club.
As most of you know, we use 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.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
Weighing a Potential Dollar Breakdown
From the Desk of Ian Culley @IanCulley
The US Dollar Index $DXY is violating its year-to-date trendline.
Is this it? Will the dollar finally follow the breakdowns in crude oil and interest rates?
The forex markets say, “Not so fast…”
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