This is the video recording of the July 2024 Mid-month Conference Call.

From the Desk of Ian Culley @IanCulley

Precious metals might be the most straightforward trade on the sheets right now.

Gold is 10 bucks away from a new all-time high. Silver and platinum are holding above critical breakout levels. And mining stocks are ripping.

Close your eyes and take a swing. You’re bound to hit a winner.

But your odds of success (and potential payout) improve if you forego shiny rocks in favor of buying gold and silver mining stocks.

Check out the Gold Miners $GDX breaking out relative to the Physical Gold Trust ETF $GLD:

GDX outperforming GLD speaks to risk-seeking behavior – a bullish environment for mining stocks and physical metals.

In today's episode of The Flow Show, me and Steve Strazza talk about the uniquely interesting market we currently find ourselves in, and we delve into a sector that appears to be making a long overdue turn higher, and a stock within the sector that is positioned for a potentially monster breakout.

Here's the big picture setup of Viking Therapeutics $VKTX:

It's worth pointing out that despite the events over the weekend, you're not seeing any bid at all for Gold.

It's the stock market that's getting a bid. It's Bitcoin that's up 6% since Saturday.

And it's the Small-cap Indexes that are hitting new 30-month 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

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 Crowdstrike and Paypal.

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 it out.

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 Ian Culley @IanCulley

Today’s analyst meeting was one broken record after another as we ripped through the most important charts on the market.

Not a top, never hit oversold…

Not a top, never hit oversold…

There’s a raging bull market on Wall Street right now. 

But the fun and games will come to a screeching halt if the following chart rolls over.

Check out the economically sensitive Home Construction ETF $ITB:

ITB checks both boxes.  It never hit oversold levels and is only a top if it breaks below 97. 

Plus, it’s ripping! 

Of course, we need a decisive resolution above the March high of 116.34 to confirm our bullish bias. 

But if the next bull run has legs, ITB will post new all-time highs. 

That also means lumber futures have to stop falling.

It was never just large-cap Tech.

That was a lie.

And as it turns out, yesterday's gains were pretty much everything BUT large-cap Tech.

These are the registration details for our LIVE Mid-month Conference Call for Premium Members of All Star Charts.

Our Live Call will be held on Monday July 15th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.

Here are the details for Monday evening:

From the Desk of Ian Culley @IanCulley

Will the Fed finally cut interest rates?

We can’t say for sure… 

All that matters is what the market thinks. And following Powell’s testimony this week, investors are increasing their September rate-cut bets.

Let’s review a few of our recent bond trades, as US treasuries could rip in the coming weeks.

Our entry point for T-bond futures was 117’27:

Price triggered a buy signal last month, but the breakout has been far from decisive.

If you haven’t taken a long position, you can move your risk level to the May 15 close, trading against  118’08.

Or, you can wait for buyers to take out 120’12 (the June 14 close).

Entry tactics aside, we’re targeting last December’s high of 125’30.  

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 exhibit 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.

But, we also highlight lagging stocks on a recurring basis.

Welcome to the Short Report.

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 this one, it couldn't be any simpler!

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 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 only grows if price is rising. That's good enough for us.