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.

Reclaiming a Valuable Line

From an information standpoint, the Value Line Geometric Index (VLG) is one of the best tools we have at our disposal as it represents the median stock’s performance. Seeing this index make a higher high as it reclaims its prior-cycle highs from 2018 and peak from last August is a major bullish development.

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:

• This week, our macro universe was negative, with 57% of our list closing lower with a median return of -0.16%.
• The Dow Jones Transports $DJT was the winner with a 7.15% gain.
• The biggest loser was Oil $CL, with a weekly loss of -7.89%.
• There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
• 36% of our macro list made fresh 4-week highs, and 36% made new 13-...

It's the weekly Gold Rush!

This week Strazza and I highlight critical levels to keep on your radar in the coming days and weeks. 

Check it out...

Both Icahn School of Medicine at Mount Sinai and CMLS Holdings LLC filed Form 4s for a combined amount of $40 million in GeneDx Holdings Corp $WGS.

Activist investor and retail industry entrepreneur Ryan Cohen took a stake in Nordstrom $JWN, sending the stock higher by more than 20% Friday.

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.

Here’s this week’s list:

...

The most significant insider buy on today’s list is a Form 4 filing by Greg Hayes, the CEO of Raytheon Technologies $RTX.

Hayes reported a purchase of roughly $1 million in Phillips 66 $PSX, where he serves as a director.

The largest insider buy on today's list is a Form 4 filing by Steve Miron,  director at Charter Communications $CHTR.

Miron revealed the purchase of $960,875 worth of CHTR shares.

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.

Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their...

From the Desk of Steve Strazza @Sstrazza 

In case I haven't been obnoxious enough, we are in the early stages of a new bull market.

I cannot be more clear about this. I feel it in my bones.

Today, the Fed had their first meeting of the year, and did exactly what everyone thought they would do. The market flew straight into rally mode as soon as the press conference began. There were no surprises.

This is because, very much unlike 2022, the path of least resistance for risk assets is now higher.

We're seeing risk-on action characterize the tape on a regular basis.

Breakouts are sticking. The list of new highs is growing longer and longer. Meanwhile, new lows are almost non-existent, and the breakdowns from December have failed and followed through higher.

It's all bull market stuff.

Along the same lines, we're seeing more and more stocks offer bullish chart setups that we want to be buying. And we're entertaining all of them.

It's time to be aggressive on the long side.

Be sure to check out...

This is the video recording of our February 1, 2023, Inside Scoop Weekly Strategy Session.

The largest insider buy on today's list is a Form 4 filing by Randal Kirk, the executive chairman of Precigen $PGEN.

Kirk revealed the purchase of roughly $20 million of his own stock from him, increasing his ownership stake to 46.2%.

The largest insider buy on today’s list is a Form 4 filing by CD&R Boulder Holdings LP.

The firm revealed a purchase of approximately $6 million worth of shares in Beacon Roofing Supply $BECN.