From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

From the desk of Steve Strazza @Sstrazza

Our Top 10 Charts Report was just published.

In this weekly note, we highlight 10 of the most important charts or themes we're currently seeing in asset classes around the world.

Not All Indexes Are Created Equal

While the Dow (DJI) has rallied nearly 20% off its October lows and retraced more than 62% of its max year-to-date drawdown, the Nasdaq 100 (NDX) is only about 10% above its lows, representing a roughly 20% retracement.

This disparity in index performance speaks to the relative strength from blue chip value stocks as well as the relative weakness from technology. Until we see evidence of this changing, we want to remain overweight value and underweight growth.

The largest insider buy on today’s list comes in a Form 4 filing by the co-founder and executive chairman of Energy Transfer $ET.

In his fifth filing since August, Kelcy Warren revealed an additional purchase of roughly $6.1 million.

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

The Dow Jones Industrial Average has rallied 19.60% since its September 30 closing low. On Friday, the large-cap blue-chip index notched another major achievement by reclaiming its pivot highs from August.

The S&P 500 and the Nasdaq 100 haven't fared nearly as well, as both are only up a little more than 10% from their respective lows.

However, when we look outside the US, countries like Germany and the UK are enjoying their biggest win streaks since early 2018.

For risk assets to finally put in a durable low, we need participation from stocks outside the US. We're finally getting it.

Amid all the bullish developments, we want to give the Nasdaq and S&P some time to get things in gear and play catch up.

In the meantime, we're starting to find more and more long opportunities in individual issues. This speaks to improving market internals.

We're also seeing more and more insiders and institutions buy into the rally over the past two months. This speaks to improving sentiment.

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.

The largest insider transaction on today’s list is a Form 4 filing by General Atlantic LP.

The hedge fund reported a purchase worth roughly $5.5 million in HireRight Holdings Corp $HRT.

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 Steve Strazza @Sstrazza

Monday night we held our November Monthly Conference Call, which Premium Members can access and rewatch here.

In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each

Let’s get right into it!

This is the video recording of our November 23, 2022, Inside Scoop Weekly Strategy Session.

The most significant insider transaction on today’s list is a $2.5 million purchase by Element Solutions $ESI Director Martin E. Franklin.

The CEO of Nerdy $NRDY also filed a Form 4 disclosing a purchase of $564,439.

The largest insider transaction on today’s list is a $17.9 million purchase by Patrick G. Ryan, the CEO of Ryan Specialty Group Holdings $RYAN.

Ryan is a titan of the insurance industry, as he formerly founded and served as chairman and CEO of Aon Insurance $AON for over 40 years.

From the desk of Steve Strazza @Sstrazza

Welcome to our latest Minor Leaguers report.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

To make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.