It's a good thing this is a long weekend. Because if you're like me, and you actually count how many stocks are going up and making new highs, then it's going to take longer than ever to do it.
The list of stocks going up keeps getting longer and longer.
That's probably NOT because breadth is deteriorating.
In fact, the Advance-Decline line on the world's most important stock exchange just hit new all-time highs. So did the world's most important stock index.
The current market environment is creating a unique opportunity for bonds.
With the charts signaling strong potential for gains into year-end, now is the moment to take action and add some bond exposure to your portfolio.
With some big reversals underway, the timing couldn’t be better to capitalize on these new trends.
Not only are we seeing a growing list of base breakouts for treasuries, corporate bonds, and bond ETFs, but the intermarket landscape is turning increasingly favorable for fixed income in general.
Let’s jump in and discuss why we’re buying bonds here and how we want to express this thesis.
The fed is giving us a clear indication these days that we’ve seen the peak in interest rates for now. The odds of a rate cut at the September meeting in a few weeks are at 67.5%.
Welcome to TheJunior International Hall of Famers.
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-listed international stocks, or ADRs.
This scan is composed of the next 100 largest stocks by market cap, those that come after the top 100 and are thus covered by the International Hall of Famers universe.
Many of these names will someday graduate and join our original International Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
Let’s dive right in and check out what these future big boys are up to.
This is our Junior International Hall of Famers list:
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.
One of the many amazing things about public markets is that price is the final arbiter of truth.
They come to you with a credit crisis that will be here any day now. The fairy tales about recessions won't stop. The president will ruin everything. And a war in the middle east is something they pretend is only happening now, and isn't always happening...
Yet the line keeps going up.
The Dow Jones Industrial Average, S&P500 (equally-weighted), New York Stock Exchange Composite and many other measures of U.S. equities are hitting new all-time highs.
More importantly, the list of stocks going up in price keeps getting longer, not shorter.
The number of sectors and industry groups participating to the upside continues to increase, not decrease.
More countries around the world are going up in price, not fewer.
The lines are up and to the right fam.
And this chart below just might be the best way I've seen to measure that yes, in fact, the lines are going up.
What we're doing here is looking at the % of stocks in the S&P500 that are above important prior highs from the past several cycles.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
