From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

• Our macro universe was slightly red again this week as 62% of our list closed lower with a median return of -0.27%.
• This week, lumber $LB was the winner, closing with a 7.83% gain.
• The biggest loser was Oil $CL, with a weekly loss of -2.18%.
• There was a 4% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
• 15% of our macro list made fresh 4-week highs, 9% made new 13-...

On this episode of Pardon The Price Action, we continue to see cyclical stocks showing relative strength and popping up on our new highs list.

Are you still stuck in American Growth stocks, or have you moved on?

Metals and Mining stocks are also breaking out to new highs, both in the U.S. and Internationally.

The U.S. is the worst performing country in the Western Hemisphere in 2022. Are you paying attention?

Where do we go from here? What are we buying? What's the next move?

All this and more on this week's episode of Pardon The Price Action.

Check out the full video:

Here is an inside look at our weekly Crypto Strategy Session that we have every Friday.

Sometimes there are more trading opportunities than others. That really just depends on the market environment.

In today's video we talk about the Key levels for Bitcoin, how some of the strongest Alts are setting up, and how far the correlation has come between Bitcoin and the S&P500.

The theories about Bitcoin being an inflation hedge, the theories about Bitcoin being a hedge against the US Dollar and the theories about Bitcoin being its own uncorrelated asset all turned out to be wrong.

There's NO evidence in price that proves those are anything but fairy tales.

Maybe one day one of those may turn out to be true. But we need to focus on the reality of the now and the present.

What do the facts say about what's going on? Not the conspiracy theories. Just the facts.

Here's this week's live video strategy session:

It's Saturday Morning Chartoons time. 

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.

You can find the whole list of trades here.

Below you'll find the full PDF of this week's charts:

From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley

Gold is the hot topic this week, now that it’s finally showing signs of life.

It’s impossible to deny gold’s near-term strength. But we think the setup probably needs more time to develop and work through all the overhead supply from the past few years.

Long story short, gold is still pretty messy if it's below the 2011 highs.

If and when the shiny metal makes a decisive resolution, there should be plenty of time to join in and ride the trend higher.

As for other areas within commodities, we continue to see a growing list of contracts reclaim key levels and print fresh highs.

Procyclical commodities like crude oil and gasoline might come to mind since they’re constantly in the news cycle.

But other areas, such as grains and even livestock, are also breaking to new multi-year highs.

Today, we’re going to highlight an agricultural commodity that often gets overlooked.    

Let’s talk about hogs!

...

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 Willie Delwiche.

There are plenty of ways in which we make our lives more complicated. There’s an endless list of things we could look at that would obscure our perspective. If I’ve learned anything in nearly a quarter century in this business, it’s that simple trumps complicated and clarity beats obscurity. That’s what makes this week’s one for the weekend so lovely. The 48 markets that make up the ACWI can be summed up in seven charts: 3 regional composites and 4 individual countries. A single slide provides a great starting point for identifying new opportunities and increasing risks on a global scale. The message now is straightforward. The UK and Canada have broken out on a relative basis and EM looks like it wants to. The US has pulled back to an important juncture and the rest of the world remains messy. (Shout out to Grant for putting this global dashboard together.)

If you've been following our narrative this week, you know we've been preaching patience as the stock market is most decidedly in the "chop zone" right now. Me and JC did a live twitter stream on Wednesday afternoon discussing the situation and how we don't feel compelled to force any new trades.

That is still the situation. But one name that I've been watching for a delta-neutral credit spread has moved in the last two days in a way that gives me a little more confidence that now may be a good time to get involved.

This is the video recording of our February 18, 2022, All Star Charts Crypto Weekly Strategy Session.

What do we know for sure about new all-time highs?

We know they aren't characteristics of downtrends.

New highs are something we regularly see in uptrends.

And wouldn't you know it, Gold Futures just made new all-time highs, priced in Japanese Yen.

"But I live in America, JC. Why should I care about gold in yen terms?"

Because Gold acts much more like a currency than a commodity. Haven't you noticed how practically every commodity on earth has skyrocketed the past 18 months, except Gold?

Besides, the new all-time highs in Gold priced in Yen also came along with new 52-week highs in Gold priced in both Euro and Australian Dollar.

We debuted a new scan recently which goes by the name- All Star Momentum.

All Star Momentum is a brand new scan that guides us towards the very best stocks in the market. This time around, we have incorporated our stock universe of Nifty 500 as the base. Among the 500 stocks that we follow, this scan will pump out names that are most likely to outperform the market.

From the desk of Steven Strazza @Sstrazza and Grant Hawkridge @granthawkridge

There’s been very little happening on our risk checklist, as evidence for risk appetite remains split between bulls and bears. 

The last time we discussed it was in our Q1 Playbook. While the list hasn’t picked a decisive direction yet, the fact that it's such a mixed bag is information in and of itself.

It's been an excellent roadmap for us in recent months, because just like the market -- our risk checklist has also been a mess. 

Let's take a look at where we stand and discuss some of the more recent developments.

Here it is, with a current reading of 44%:

This tells us that the majority of checklist items are actually below our risk levels and in risk-off territory. However, when we consider the selling pressure thus far in 2022, the list has held up quite well. 

Here's a time series of the percentage of assets in bullish territory charted beneath the S&P...