This is the video recording of the May 2024 Mid-month Conference Call.

From the Desk of Ian Culley @IanCulley

May showers and meme stocks are rolling through.

Roaring Kitty is back, leaning into his detractors with his trademark flair. 

AMC and GameStop $GME are ripping. Gold mining stocks are picking up the pace. And the US dollar…

Surprisingly, it’s still holding above former support.

The 105 - 104.75 area marks the spot for the US Dollar Index $DXY: 

A decisive close below that key polarity zone places the dollar back in the box, giving stock market bulls free rein.

Yet investors don’t seem to care about the greenback. 

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended May 10, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

From the Desk of Ian Culley @IanCulley

Mining stocks are sticking their breakouts as our list of trending tickers grows. 

The Junior Gold Miners ETF $GDXJ is breaking out, platinum futures are completing a year-long base, and the silver-to-gold ratio is posting new highs.

With risk-seeking behavior creeping back into precious metals, it’s time to turn up the heat…

These are the registration details for our LIVE Mid-month Conference Call for Premium Members of All Star Charts.

Our Live Call will be held on Wednesday May 15th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.

Here are the details for Wednesday evening:

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.

From the Desk of Ian Culley @IanCulley

Crude oil is searching for a foothold. Copper is climbing. And gold is clinging to its record high.

Like most of the market, raw materials are weathering the storm with varying degrees of success.

Nevertheless, today’s commodity deck includes plenty of uplifting charts – plus a trade you’ll want to take home over the weekend…

Check out the Water Resources ETF $PHO posting a new all-time high:

JC discussed PHO at the start of 2022 during a Live Strategy Session.

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.

Here's this week's list:

From the Desk of Steve Strazza @Sstrazza

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.

From the Desk of Alfonso Depablos @AlfCharts

As equity markets continue to repair the damage from April’s correction, we continue to find more and more stocks -- and groups of stocks -- that we want to be buying.

A growing number of those groups are coming from the financial sector. 

Financials have made a comeback in the last week as a handful of financial indexes and individual issues are reclaiming their prior-cycle highs.

The relative trends are improving as well, with the large cap sector SPDR $XLF hitting new 52-week highs versus the S&P 500 recently.

When we think about the strongest stocks within financials, asset management and capital market stocks are top of mind.

In today’s post, we will dive in and outline some of our favorite charts in the space.

Before we do that, here’s the SPDR S&P Capital Markets ETF $KCE pressing against its former highs from 2021:

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.

From the Desk of Ian Culley @IanCulley

Buyers are coming to the dollar’s rescue following last week’s drop.

But I’m still bearish. 

Of course, none of that matters if the US Dollar Index $DXY continues to rally and these trade setups fail to trigger entry signals.

Here’s a quick look at the DXY finding support at a critical retracement level:

It’s a logical area for dollar bulls to take a stand as a shelf of former highs act as support.

However, crude oil's slide below a similar shelf of former highs raises doubts about a sustained bullish defense.