From the Desk of Steve Strazza and Alfonso Depablos

The most significant transaction on today’s list comes in a Form 4 filing by John Rakolta Jr,, director of Agree Realty Corporation $ADC.

Rakolta reported a ADC purchase with a total value of $832,627.

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 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 Ian Culley @IanCulley

Metals are dominating the commodity space.

The rotation between energy and base & industrial metals colors the commodity markets as we near 2024.

Crude oil has slipped through buyers' hands since interest rates peaked in October. That much is obvious… 

But don’t short crude oil and its distillates just because copper and gold are catching a bid…

Check out the commodity subgroup performance since the US 10-year yield $TNX peaked in the fall:

Energy has clearly cooled, while precious and base metals have led the pack.

This makes sense as rates fall. But markets don’t move in a straight line.

Notice the equal-weight energy index stopped falling mid-month around the same time it ran into a logical area of support relative to the equal-weight base and industrial metals index.

...

The bull market continues, and the broadening out of participation continues to widen. Today's trade is in a Chemicals company that is beginning to show some relative strength and has two upside targets that could potentially be met, if conditions cooperate.

We'll reduce our position as the closer target, and hold the rest for a run at the big prize!

In today's Daily Digest, we'll review:

1. No new position today.
2. Defensive adjustment in XBI.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The most significant transaction on today’s list comes in a Form 4 filing by Warren Buffett and Berkshire Hathaway.

Buffett reported another purchase in Occidental Petroleum Corp $OXY, this time with a total value of $312 million.

The bull market continues as stocks keep making making new highs.

This is what happens in bull markets, stocks regularly go up.

The Dow Jones Industrial Average is making new all-time highs every day. The S&P500 and Nasdaq are right there too.

And the list of stocks on the NYSE hitting new highs is the longest its been in over 30 months.

But what's driving these stock prices?

It's not earnings. It's not the Fed. It's not the biden.

It's the Dollar. It was always the Dollar.

When the Dollar is weak, stocks go up. It's that simple. And when the Dollar is strong, stocks have a hard time making any progress:

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.

The bottom line is it is a bull market. We want as many vehicles and options...

From the Desk of Ian Culley @IanCulley

Last month’s bond rally has legs.

Long-duration bonds have gone from printing multi-month highs to reclaiming their March pivot lows in just a few weeks.

So, let’s revisit our recent swing trades as they continue to run...

Thirty-year T-bond futures sliced through our initial target of 122:

Luckily, a completed bull flag provides a precise level to define our risk.

We can take another long position in T-bond futures, targeting 134, but only if it holds above 124’09.

Here's a look through the equities market…

The long-duration bond ETF $TLT is on the verge of reclaiming a critical shelf of former lows:

Let’s call our line in the sand 100. 

A decisive break above that psychological level likely sends price to that hundred-dollar roll of 110. That’s our target.

If...

In today's Daily Digest, we'll review:

1. No new position today.
2. Defensive adjustment in XRT.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The only transaction on today’s list comes in a Form 4 filing by James F. Lynch, director  of Globalstar Inc $GSAT.

Lynch reported a purchase of GSAT shares with a total value of $1,264,175.