This is one of the charts I started this week's LIVE Conference Call with. How could I not?

We're looking at the Equally-weighted Nasdaq100 and Equally-weighted S&P500.

These Indexes eliminate the largest components from dominating the equation and treat each stock in the index equally.

Both of these are working on breaking out of this multi-year base to new all-time highs.

Can they do it?

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...

Since the beginning of February, the two best performing sectors are Energy and Materials.

These stocks have been dominating the back half of Q1.

You're seeing new all-time highs today across the board in Materials.

Here are two of my favorite ones we've been in.

Today's trade is in a name that doesn't need Wall Street.

They crush their little corner of the world, operating in the midwest. They do not need to raise money or any exotic financing. Because of this, the company is completely off Wall Street's radar. This means very few (if any?) analysts cover it. Nobody is publishing research reports on it. Essentially, there just isn't anyone talking about it.

Around here, we call these "Eddy Elfenbein stocks." Stocks that are steady dividend payers, operating excellently in obscurity, providing a product or service that so many people use that they don't even realize they are using it.

In today's Daily Digest, we'll review:

1. No new positions today.
2. Rolled XLI position into May.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by DICK'S Sporting Goods $DKS Vice Chairman William Colombo’s trust.

Colombo’s trust reported an acquisition of 40,000 DKS shares, equivalent to $8.5 million.

There hasn't been much going on in the new lows lists this year.

As I've mentioned here plenty, you cannot have a market correction, mathematically, without the prices of stocks falling.

Well, there's been some action in the short-term new lows recently with Technology leading the way.

Half the Large-cap Tech stocks just hit new 10-day lows, and Technology has seen the most amount of new 1-month lows of any sector.

Small-caps have struggled the most:

Last week, we published a variety of potential trade ideas that were shaping up. With Bitcoin still above our risk level at the time of writing that note, there were many coins breaking higher. But since the publication of that letter, many of these recent breakouts have failed alongside Bitcoin. As such, many of our trade ideas have fallen below their risk levels.

From the Desk of Ian Culley @IanCulley

Currency markets refuse to choose a direction.

Up, down, or sideways: None appeal to the major US dollar pairs.

Meanwhile, the US Dollar Index $DXY is catching toward the upper bounds of its yearlong range.

If the dollar continues to rise, these swing trades will break for our targets…

I was monitoring the British pound for a breakdown below the December 2023 lows at approximately 1.25:

Instead of resolving lower, the GBP/USD took the opposite route, breaking above the December 2023 highs.

But those new highs were short-lived as the pound slipped back into its prior range. (Talk about indecisive!)

I like shorting the GBP/USD failed breakout. As long as the pound trades below 1.2766, I’m aiming for last month’s low of 1.2515. 

Meanwhile, a failed breakout leads to a fresh breakdown…

The New...

In today's Daily Digest, we'll review:

1. New position in GLD -- Gold
2. No adjustments are needed today.
3. Profitable exit in ITB and a Scratch exit in GDXJ.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Stellantis N.V.

The multinational automaker revealed yet another purchase of Archer Aviation Inc $ACHR shares, this one to the tune of $7,637,302.

This is a great thing, but only if you allow it be great.

Interest rates went out yesterday at their highest levels since November.

Do you really believe that the 10-year yield keeps going up because interest rates are going down?

lol

There are people who actually believe that.

So for us, who actually take the time to look, we know that it's the exact opposite.

Commodities are heading higher. And Interest Rates are rising with them.