This is the video recording of the October 2022 Mid-month Conference Call.

We discussed:

• The DJ Industrial Avg at the Pre-Covid Highs
• Fewer Stocks are making New Lows
• Small-caps, Mid-caps & Micro-caps diverging positively
• Sentiment is at a historic bearish extreme
• Credit Spreads tightening the past 4 months
• Negative Correlation Between US Dollar & Stocks intact
• Consumer Discretionary outpacing Staples
• Sector Level trends are improving
• Energy making new 52-week highs relative to Stocks
• Shorting these REITs and Software Stocks
• Industrials & Regional Banks making new 52wk relative highs
• More Bullish Options Activity in Occidental Petroleum
• Coal Stocks Setting Up For Breakouts
• Industrial Stocks ready to bounce
• Financials holding Support
• Copper/Gold ratio not confirming new highs in Yields
• 5 & 10/yr Breakevens peaked quarters ago
• Emerging Markets down near critical levels
• Seasonally the best time to buy stocks
• List of my favorite stocks to buy

Friday morning I was in the city chopping it up with Maria Bartiromo.

She was surprised at what I had to say.

But I think she was intrigued.

Also, huge shoutout to Fox Business on their 15th Anniversary. It's been amazing to watch them continue to dominate financial TV.

Congrats all around.

Check out the full clip from Friday morning:

In yesterday's note we talked about how the Dow Jones Industrial Average went up in price for the 2nd consecutive week. This isn't something we've seen happen too often in 2022.

But what else happened this week?

Well, we got fewer stocks making new 52-week lows on the NYSE. The peak in new lows was back in June, which was 4 months ago.

You can see it in shorter-time horizons as well. Look at the S&P500 new 63 day low list continuing to deteriorate (63 days = 3 months = 1 quarter):

In bear markets you tend to get more and more stocks making new lows.

We haven't seen that.

In bull markets you tend to get more and more stocks making new highs.

We haven't seen that either.

So are we going to finally get that expansion in the new lows list?

Or are these meaningful divergences?

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

We held our October Monthly Strategy Session Monday night. Premium Members can access and rewatch it here.

Non-members can get a quick recap of the call simply by reading this post each month.

By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.

With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.

This is the video recording of our October 3rd Monthly Charts Live Strategy Session

This is the video recording of our September 6th Monthly Charts Live Strategy Session

I was back on The Compound & Friends podcast this week with Josh and Michael.

They're both old friends of mine, so it's just us arguing and yelling at each other for an hour.

Always fun.

Hope you enjoy!