From the Desk of Kimmy Sokoloff

That was a wild move yesterday. Almost everything reversed lower.

I'd like to think this is simply just a healthy consolidation before a potential move higher for the indices.

It’s another short one today.

However, we do have some founder activity in the recreational vehicle manufacturer Thor Industries $THO.

The way I learned it was that we want to buy stocks when the journalists put a chart on the cover of a magazine.

I like to pick on The Economist because they have such a great track record of being the last ones to the party.

Here's a good run down of a few favorites and part of the reason we got so cautious last Spring.

Fast forward to today: Can we classify this one as a chart? Does this count?

From the Desk of Kimmy Sokoloff

So, we had a decent consolidation day.

We just have to make sure this market hangs on.

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

We held our October Monthly Strategy Session 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.

People get so angry when I tell them that Energy stocks haven't even broken out yet...

The historic outperformance in Energy over the past 2 years is just the pregame.

The real party hasn't even gotten started.

The DJ is still setting up....

We haven't even mixed the jungle juice.

Take a look at the Energy Sector Index still stuck below those 2008 highs. And its largest component Exxon Mobil (23.7% weighting) below those same levels:

From the Desk of Kimmy Sokoloff

Yesterday, the market had a nice comeback from the morning lows. This morning, the futures are pulling in some, and, to me, this is still healthy.

Hopefully, we can trend higher or sideways throughout the day.

Now that there’s some clarity around the Twitter $TWTR/Elon Musk deal, the focus is shifting to how exactly it will get done.

Today’s reports claim that Apollo, Sixth Street, and others have ended conversations with Musk’s team to provide debt financing.

As it turns out, $44 billion is a lot of money, even for the richest man in the world…

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as The Hall of Famers, The  Minor Leaguers, and The 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

From the Desk of Kimmy Sokoloff

That was a nice reversal for the indices today.

They held support where they needed to and then trended higher.

This is the video recording of our October 5, 2022, Inside Scoop Weekly Strategy Session.