From the Desk of Ian Culley @IanCulley

Investors are dropping gold and silver like they’re hot.

But don’t let the sellers push you toward the exit.

It might look ugly, but a corrective period following gold’s vertical rally to our initial target sounds about right.

Plus, three of our current long positions – Harmony $HMY, Wheaton $WPM, and Kinross $KGC – posted new 52-week highs Thursday. 

I expect the new highs list to expand as gold and silver work through overhead supply in the coming months.

Instead of sweating today’s selling pressure, I’m placing orders to buy the following two mining stocks on a breakout…

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

The media is showering gold and precious metals with attention.

I get it. New all-time highs capture eyes. 

But you can’t leave copper and base metals out of the story…

Copper is ripping to its highest level in almost two years, posting a 15% year-to-date gain:

For perspective, the S&P 500 is up less than 5% since January 1.

Our next profit target of roughly 4.85 is now in focus. A decisive break above this new objective sends copper toward new all-time highs and the psychologically important five-dollar level.  

From the desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

*Click table to enlarge view

From the Desk of Ian Culley @IanCulley

Failed breakouts and trading ranges dominate the charts.

It’s a mixed-up, messy market environment wherever you look — bonds, stocks, commodities, forex…

US treasuries are a prime example, playing it cool with muted volatility and tight credit spreads while yields climb.

Perhaps the near-term rise in rates makes it difficult to grasp, but the US benchmark yield is actually chopping within a broader corrective phase.

Before we dive into the charts, I want to make two things clear: 

One, I am not an Elliottician or an Elliott Wave specialist on any level. And two, if you give five Elliotticians the same chart, you’re likely to get five different wave counts.

Nevertheless, my journey to earning the CMT designation exposed me to the Elliott Theory, and I find it prudent when examining the US 10-year yield.

So here we go…

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

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

But we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

From the Desk of Ian Culley @IanCulley

Have you noticed these trends driving the markets?

Commodities are ripping. The energy sector is outperforming. Interest rates are climbing while US treasury bonds fall apart…  

Of course, we can’t forget about the US dollar’s rally.

I continue to err in the direction of these underlying trends. But the dollar rally will likely run out of gas soon…

Check out the US Dollar Index $DXY printing its highest level since November. 

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 April 12, 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

Readers often ask how long it will take for an open trade to reach our target. 

I wish I knew. 

Only the market can answer that question, as gold did last Friday…

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.

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 April 17th @ 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: