From the Desk of Steve Strazza @Sstrazza
We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to our newest scan, it couldn’t be any simpler!
With the goal of finding more bullish setups, we expanded one of our favorite scans and broadened our regular coverage of the largest US stocks.
Welcome to The Junior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It grows as the stock price rises. That’s good enough for us.
The bottom line is this is a new bull market. We want as many vehicles and options to express our bullish thesis as possible.
Let’s dive right in and check out what these future big boys are up to.
This is our Junior Hall of Famers list:
Click table to enlarge view
We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month.
Then, we sort the remaining names by their proximity to new 52-week highs.
This leaves us with only the strongest stocks. Let’s talk about some of them now.