From the Desk of Ian Culley @IanCulley

Gold mining stocks are the play.

Why?

Because they’re working!

In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.

And when you consider they’re outperforming the S&P 500 and the physical metals, it’s hard not to like these names.

Especially as gold and silver run into logical levels of resistance…

From the Desk of Ian Culley @IanCulley

Gold mining stocks are the play.

Why?

Because they’re working!

In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.

And when you consider they’re outperforming the S&P 500 and the physical metals, it’s hard not to like these names.

Especially as gold and silver run into logical levels of resistance…

Gold is knocking on the door of all-time highs after gaining 13% over the trailing five weeks:

A pause at current levels makes sense – and is likely underway, as a bearish momentum divergence indicates waning strength.

That doesn’t change my bullish outlook for gold. Rather, my view simply turns neutral over the near term. 

It’s the same story for silver.

Gold’s crazy cousin is running into a logical level of overhead supply at approximately 26.

In 2020, we wanted to feed the ducks at 26, as it marked a key retracement level and a shelf of former lows. 

And here we are again, almost three...

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

The next new position in our Paid-to-Play portfolio is:

Today’s Hot List is a short one.

The CEO, the CFO, the general counsel and the chief people officer of WD-40 Company $WDFC all filed Form 4s reporting purchases of their own stock for a combined amount of $267,366.

From the Desk of Kimmy Sokoloff

Last week was a battle.

It was a complete tug of war.

As it turns out, markets can remain solvent longer than you can remain irrational.

Stocks continue to catch a bid. This is despite any so-called "banking crisis" or even the "upcoming recession" that I've been hearing about for so long.

Markets remain solvent as the major US Large-cap Indexes keep pushing up against new highs.

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.

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

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 Ian Culley @IanCulley

There’s no doubt about it: Fundamentals drive markets over longer time frames.

It’s a common misconception that technical analysts don’t believe in fundamental analysis. 

That’s not true.

Many of us simply chose to follow price for a multitude of reasons. Price always made sense to me, especially since it pays at the end of the day.

Whether you use fundamentals or technicals to inform your investment decisions comes down to philosophy. 

Remember, we’re all solving the same puzzle – just from different perspectives…

Check out the dual-pane chart below of the CRB Index and the overall CPI percentage change from a year earlier:

I was shocked at how closely these charts move in tandem. They look almost identical! It makes sense considering inflationary assets such as commodities rise along with inflation.

You can choose to focus on the CPI report or...

From the Desk of Kimmy Sokoloff

$SPY hit the 415 mark and then pulled in.

And then this market limped into the close.

Tech was weak once again, and this might be a continuing theme. 

There are some big cap software stocks on the verge of resolving out of beautiful bases to the upside. Of course, we have to be on the ball to avoid earnings landmines as it's that time of the year.

That said, my favorite chart among these big caps that still has breathing room in it (about six weeks) before we have to deal with their next earnings report is Salesforce $CRM.

Check out this chart: