People would even complain that it was only 5 stocks driving market returns.
Do you remember how hilarious that was?
Good, because it's so much funnier now.
Get this, those same people complaining that only 5 stocks were driving the market higher are now complaining that those 5 stocks aren't participating.
Market returns are currently being driven by all the other stocks. Those 5 big massive ones are doing their very best to hold the market down, but it's not working.
Investors are buying stocks, whether you like it or not. And they're buying the smaller ones at a much faster rate than their larger-cap counterparts.
Look at the Small-cap Russell2000 hitting new Year-to-Date highs vs the Large-cap S&P500.
And of course Small-caps are also hitting new 16-month highs relative to the Nasdaq100:
I'm glad to hear how well you guys are doing in this environment.
But keep in mind that not everyone looks at the market the way you and I do.
Some people out there think the Dow Jones Industrial Average is beneath them.
Some people like to pretend to be smart and wait for computers to tell them if stocks are going up, instead of just counting.
Price weighted indexes don't seem to be good enough for some of their boujee lifestyles.
Fortunately, for us simpletons who are only here to make money, we see the Dow Jones Industrial Average rallying for a 4th consecutive week, finishing up the greatest October of all time.
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.
Apple saved the day, and the market followed along. I mentioned $AAPL in today's Morning Briefing, noting that if it gets above 146.60 it can head to 149.
The Twitter-and-Elon Musk saga has finally come to an end, as the eccentric billionaire has completed a $44 billion acquisition of the struggling social media company.
The stock will be delisted from the New York Stock Exchange today.
There are stocks going up and there are stocks going down.
I'm old enough to remember when we would all call that normal.
The going up category just got longer recently. Remember Energy had been the only Sector Index above its 200 day moving average.
Healthcare is now also on that list.
Industrials and Consumer Staples are the next closest ones.
This morning we talked about how poorly the Tech heavy Emerging Markets were doing vs those like Brazil, Saudi Arabia and Indonesia, that have a much different composition.
Another big loser driving headlines is in Large-cap Growth. Stocks like Google and Facebook got crushed after earnings. And now Amazon is joining that list after the bell Thursday.
But that's specifically Large-cap Growth.
Small-cap Growth, on the other hand, is holding up way better.
You can see here how Small-cap Growth is hitting the highest levels of the year relative to Large-cap Growth:
