From the Desk of Ian Culley @IanCulley

Metals have been one of the weakest areas of the market this year.

It doesn’t matter if we’re talking about the materials sector, commodity space, base and industrial metals, or gold. These assets have carried nothing but downside risk.

But mix in a little dollar weakness, and we see an impressive display of strength. Metals are finally looking like they have something to prove.

Yes, it’s only one day of action. But it’s a day worth noting…

Check out the breakout in copper futures, posting its largest single-day return since 2009:

This is a big development for commodities and risk assets in general.

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

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check out the International Hall of Famers.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

From the Desk of Willie Delwiche.

Rules Need Application To Be Useful

Market legend Marty Zweig was known for his investing rules. The first among them addressed the importance of staying in harmony with the underlying trend in the market. Good rules are great guides - we ignore them to our own peril. 

From the Desk of Kimmy Sokoloff

We saw a lot of movement in the indices today.

The $SPX hit resistance near the 50-day moving average around 3,800 and reversed lower but then rallied into the close. 

We can't argue with price.

And price continues to tell us the Energy bull market still has legs.

Today's trade is a case in point where trading action today announced a declaration that an old-school oil services name wants to continue climbing higher.

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

This is the video recording of our November 4, 2022, All Star Charts Crypto Weekly Strategy Session.

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

The lengths that grown adults will go to justify their reckless behavior continues impress.

One of the classic misnomers that you'll hear out there, especially these days, is: "Don't Fight The Fed"

How many times do you hear these fools say it?

They think they sound smart. They think they're clever.

They pretend to be historians, but all they're proving is that they're lazy, wrong and enjoy embarrassing themselves in front of everyone.

If you're going to quote the great Marty Zweig, the least you can do is quote him correctly.

From the Desk of Ian Culley @Ianculley

Bonds are an absolute dumpster fire. 

Everyone knows fixed income is having one of its worst years on record. And, from the looks of it, we’ll all be dragging our Christmas trees to the curb before US Treasuries stage a miraculous comeback. 

Don’t get me wrong. I believe these safe haven assets will dig in and catch higher –  eventually. There’s just no sign of it happening any time soon.

Instead of focusing on the disappointing performance of bonds, let’s turn our attention to its relative trends against other major asset classes – stocks and commodities.

Here’s the commodities versus bonds ratio using the CRB Commodity Index and the 30-year Treasury bond futures:

The most significant insider transaction on today's list comes in a 13D from Carl Icahn.

Icahn reported a new position in the mid-cap packaging and container stock, Crown Holdings $CCK.

From the Desk of Kimmy Sokoloff

We have big data out at 8:30 a.m. ET this morning.

As I write, the futures are up. Let's hope they stay that way.