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

The firm revealed a $7.5 million purchase in Frontier Communications Parent $FYBR.

From the Desk of Kimmy Sokoloff

$QQQ hit a fresh high yesterday, and this morning we're pulling back.

We could be in a standstill until tomorrow's CPI data. 

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.

From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts

This is one of our favorite bottom-up scans: Follow the Flow.

In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.

We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.

Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.

From the Desk of Kimmy Sokoloff

It was a real tug of war today for the indices.

$AMD really pushed through, moving more than 5%.

From the Desk of Steve Strazza @Sstrazza

We held our May Monthly Strategy Session last 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.

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

While financials and cyclical areas of the market have been under pressure the past few weeks, technology and other leadership groups have been resilient.

In fact, despite the latest banking sector volatility, we continue to find plenty of opportunities in growth stocks.

However, it's not just growth. We're seeing strength from risk-on groups like homebuilders, in addition to consumer stocks from both offensive and defensive industries.

Overall, we continue to see healthy rotation from the broader market.

Today, we have a consumer discretionary name everyone should be familiar with. Let's get into it.

The largest insider transaction on today’s list is a Form 4 filing by Alphabet Inc.

The tech giant reported a $19 million purchase in GitLab $GTLB.

From the Desk of Kimmy Sokoloff

What a move on Friday!

But we must stay on our toes: We've got CPI this week. 

It's now or never.

The Russell2000 Small-cap Index is back down near last Summer's lows.

If there was ever a time for buyers to step up, it's right now.

And funny enough, relative to the Large-cap S&P500 Index, the Russell2000 is back down to the 2020 lows.

Again, if there was ever a time for buyers to step in, now is the time:

There's an ugly rumor going around that it's only a handful of stocks holding up this market.

The people telling you that are lying to you.

Here is our Hall of Famers list which consist of the largest stocks in the United States.

All the ones on this list are less than 5% from new 52-week highs:

From the Desk of Kimmy Sokoloff

Happy Cinco de Mayo!

It was a Friday, but we closed out the week strong.