From the Desk of Kimmy Sokoloff

We got a little reprieve from the selling today.

We'll see how the indices handle their respective resistance levels.

The largest insider transaction on today’s list comes in a Form 4 filing by Jeffrey W. Ubben, the co-founder and chairman of ValueAct Capital.

Ubben revealed a purchase of $20 million worth of Exxon Mobil Corporation $XOM stock.

From the Desk of Kimmy Sokoloff

$AMZN had good earnings, $AAPL not so much.

Futures are up some, but it's been a bumpy week.

This is just a friendly reminder that the most bullish period of the entire 4-year cycle has just come to an end.

How'd you do?

Stocks broke records in terms of performance and have been in the midst of a raging bull market, driven by sector rotation and breadth expansion.

All of this is perfectly normal.

Stocks did very well at exactly the time that they were supposed to.

Not sure why so many are surprised by it.

Now that even the biggest permabears threw in the towel and started turning more optimistic, we are now entering the most bearish time for stocks:

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

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 latest project, 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.

From the Desk of Kimmy Sokoloff

We have $AMZN and $AAPL earnings after the close.

It was a real tug of war for the indices today. Nearing the close, they were selling off the market.

Maybe a prelude to what's about to come...

The largest insider transaction on today’s list comes in a Form 4 filing by Loews Corporation.

The American conglomerate reported a purchase of $175 million worth of shares in CNA Financial Corporation $CNA.

From the Desk of Kimmy Sokoloff

We have some big, heavyweight earnings tonight, with $AMZN and $AAPL reporting.

The market is still pulling in, but August is typically a weak month.

We're in a tough spot, as names are in between.

This is the video recording of our August 2nd Monthly Charts Live Strategy Session

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach.

It's really been working for us!

One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

From the Desk of Kimmy Sokoloff

$SPY dropped down to its 21-day moving average, and $QQQ broke below its own 21-day.

We'll see if this is a one-day wonder or if the Fitch downgrade has more meaning.

This is the video recording of the August 2, 2023, Hot Corner Insider Weekly Strategy Session.