In the 4th quarter we saw the Phlx Gold & Silver Index ($XAU) break out above its key level, invalidating any bearish thesis that one could possibly have for Precious Metals.

You see all that resistance in the $XAU in 2013 and 2016, right around $110-113?

Well once we got back above that in November, it was time to start buying Gold & Silver stocks.

But where was the most popular ETF $GDX?

It was still below that overhead supply, as you can see in this chart below.

Until now...

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.

It's the weekly commodity edition of What the FICC?

As a responsible investor, I refuse to ignore strength. That includes stocks making fresh highs, especially when they're bellwethers!

Check it out!

On Tuesday of this week I was in the city for a few meetings, so I dropped by Fox Business to chat with my old pal Liz Claman.

Her and I have been doing this dance together for over a decade.

She's one of the best in the business and we always have a great time.

Liz knows me well by now so there's no gossiping about the Fed with me.

It was all about explaining how we're already entering Month #8 of this ongoing Bull Market for stocks.

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

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 Moderna, Square, and Snap.

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:

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...

As a responsible investor, I refuse to ignore strength. That includes stocks making fresh highs. 

Despite what you may have heard from the major cable networks, many stocks aren’t going down. In fact, many fit our definition of "strength."

Out of all the fresh highs coming in, these three bellwethers take the cake…

Freeport-McMoRan

We look at Freeport-McMoRan $FCX as a proxy for Dr. Copper. Both are economic barometers, and both are posting new multi-month highs:

This is a bullish development for global risk assets, including commodities and their related stocks.

As long as FCX trades above 40, our outlook is higher toward 62, with a target of 97 over longer timeframes.  

Newmont Corp.

Here’s the gold mining behemoth, Newmont Corp. $NEM, carving out a decade-long base:

...

From the Desk of Kimmy Sokoloff

$SPY opened near the middle of yesterday's move at 393.50 and trended higher.

The market held on into the close, a nice way to end Options Friday.

This is the video recording of our January 13, 2023, All Star Charts Crypto Weekly Strategy Session.

From the Desk of Willie Delwiche.

Money supply is unchanged over the past year and has fallen at a never-before-seen 5% annualized rat over the past 3 months.

Why It Matters: Money supply growth peaked (on a year over year basis) at 27% in February 2021 as policymakers responded to the COVID crisis by flooding the financial system with liquidity. That growth has now dissipated and over shorter time periods money supply is actually contracting (it was down for the fourth month in a row in November). Collapsing money supply growth helps take the edge off of inflationary pressures in the economy (there is less money chasing all the goods & services). But liquidity is also the lifeblood of the financial markets. As with seedlings in the garden, when the spigot is turned off, green shoots turn brown and asset prices could struggle to flourish.    

We've adjusted a position in the Paid-to-Play portfolio today:

It seems like everyone is making money in the market these days.

US Stock market investors are crushing it.

Investors in foreign stocks are doing even better!

Heck, even the Gold bugs are getting paid.

I mean, who isn't?

The largest insider transaction on today’s list is a Form 4 filing by EcoR1 Capital LLC.

The hedge fund reported a purchase worth roughly $7.8 million in Zymeworks Inc $ZYME.