Stocks have rallied off of their mid-June lows, but it goes without saying that 2022 has still been a year marked by volatility and an absence of strength. In fact it has been historic (or nearly so) on both accounts. In terms of volatility, only two years (2008 and 2002) finished with a higher percentage of days on which the S&P 500 closed up or down by 1% or more than we have seen so far in 2022 (just shy of 50%). No year has come close to as low a percentage of days with more new highs than new lows. So far we have had seven in 2022: two in January, three in March and one each in April and May. That is just 5% of the trading days so far this year. The next closest year was 2008, which had new highs > new lows on just 13% of the days. At the opposite extreme is 2017, regarded by many as one of the best years in stock market history. That year, 90% of the days saw more stocks making new highs than new lows, only 3% of the days had the S&P 500 moving by more than 1%, and the S&P 500 booked a nearly 20% gain.
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.
Base Metals have been correcting off late and tearing through their support zones. Agricultural commodities on the other hand have displayed resilience during this market correction. While prices have moved lower, the inherent strength is still visible.
Today we're here to discuss a commodity that is trading at new multi-year highs: Jeera.
Immunocore Holdings $IMCR appears on our list for the second day in a row, as General Atlantic LP filed a 13D revealing an ownership stake of 11.50% in the biotechnology company.