The market ended the week on an up note.
Overall, the indices traded higher and names lifted.
July Strategy Session: 3 Key Takeaways
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.
International Hall of Famers (07-07-2023)
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.
Junior Hall of Famers (07-07-2023)
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 bottom line is it is a bull market. We want as many vehicles and options to express our bullish thesis as possible. This is a good way to do just that.
Let’s dive right in and check out what these future big boys are up to.
CEO Elfers Reports a Large PLCE Purchase
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.
Swing Trader Pro: Morning Briefing (07-07-2023)
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 Most Important Index On Earth
Swing Trader Pro: Afternoon Briefing (07-06-2023)
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.
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