From the Desk of Ian Culley @IanCulley

FOMC meeting?

No worry, beef curry!

The markets barely flinched after the Fed raised interest rates – again. 

Honestly, I didn’t tune in to the press conference. I prefer to focus on the tape.

So you won’t get a rundown of Jerome Powell’s forward guidance, or lack thereof, from me.

I can only relay the information provided by the market.  

Obviously, the rising-rate environment remains intact amid sustained inflationary pressures – “higher for longer.”

We can all agree on that.

The true value from Wednesday’s events resides beneath the headlines…

Investors are adjusting to a new rising-rate regime as they accept the unavoidable: inflation.

The US 10-year breakeven inflation rate is shaping up as a potential “not a top” formation:

From the Desk of Kimmy Sokoloff

That was a big bounce this morning for the indices...

And then we faded, and gaps are getting filled to the downside.

We all know the market is in need of a breather, but it will do what it wants to do. I did miss some of my own trades today, but traders in the Live Trading Room captured them.

This is the $TGT trade I flubbed. I bought it, I wasn't patient, it ran to my price target, then I bought it back. I told the Live Trading Room it has room to 138!

Today I closed out the $HES shares that I've owned since January. I've bought it and sold it many times throughout the past six months. I can't list all the buys and sells.

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to The Junior 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:

[12/4: moved stop to 22]

We're going where the "juice" is.

Chatting with Strazza while looking through charts on the plane home from Tokyo today, he said this:

I would do something in the commodity stock world. Think they are about to catch some of that bull market rotation. They all got the juice too.

I couldn't agree more.

Here's the Play:

We've adjusted a position in the Paid-to-Play portfolio today:

The only insider transaction on today’s list comes in a Form 4 filing by William G. Jurgensen, director of American International Group $AIG.

Jurgensen revealed a purchase of AIG shares with a total value of $145,814.

From the Desk of Kimmy Sokoloff

The market is happy today, gapping up after the Fed.

Gap-ups are hard, as you don't know if they'll continue or pull in.

The Dow Jones Industrial Average and Dow Jones Transportation Average are both hitting new 52-week highs.

These are things we see regularly in uptrends. Not so much in downtrends:

From the Desk of Kimmy Sokoloff

The Fed raised a quarter point, but we kinda knew that was coming.

The market, as of now, is all over the place.

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.

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

Welcome to the Short Report.

We've adjusted a position in the Paid-to-Play portfolio today:

The largest insider transaction on today’s list comes in a Form 4 filing by SoftBank Vision Fund entity SVF II SPAC Investment 3 (DE) LLC.

SVF reported the purchase of 17,825,312 shares of Symbotic Inc $SYM, equivalent to $500 million.