From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes via Form 4 filings by James F. Lynch, director of Globalstar Inc $GSAT.

Lynch reported a purchase of GSAT shares with a total value of roughly $1.7 million.

Steve Strazza and I hosted another Flow Show today on Stock Market TV and discussed opportunities in the Biotech space.

Starting at an index level, we see that biotechs are clearing a base and appear set on breaking out:

From there, we started diving into some individual biotech names to play the breakout, but many of the charts offered unique challenges that made it tricky to pick one to take the most advantage or the sector breakout.

So when that happens, sometimes the best move is simply to buy the index!

And that's what we're going to do here, using the sector ETF $XBI as a vehicle for expressing our bet.

Here's the Play:

In today's Daily Digest, we'll review:

1. No new positions today.
2. Adjustment to GDXJ position.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Ian Culley @IanCulley

Gold is silencing all the haters – even me!

I’ll admit, I had my doubts. 

But I also carried an unnerving suspicion buyers would strike as soon as I dropped my guard…

Gold futures sliced through our breakout level last week, closing at record highs:

Unbelievable… Or, better yet, undeniable.

Gold not only hit a new all-time high, it broke out with authority as it gained more than 4% last week. 

The path of least resistance points higher toward 2,500 (our initial objective). But the price of gold could go much higher.

Gold is embarking on a new secular bull run:

As it rips to new heights, it will take the entire metal and mining space along for the ride.

But we’re in the early innings of an uptrend that could last for years to come.

Instead of catching falling knives or taking cute catch-up trades, it’s best to simplify our strategy and buy the strongest names. 

Gold mining stocks have suffered for years, and a handful of names were absolutely clobbered last month. A few gold miners are even offering up the mother-of-all mean...

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes via Form 4 filings by Stellantis NV.

The multinational automaker reported a purchase of $15.6 million in Archer Aviation Inc $ACHR.

Stocks are down again to start the week.

All of this while Bitcoin is making new all-time highs this morning:

BTCUSD: $72,000

Get all our Crypto Trades Here - Bitcoin and Altcoins

Meanwhile, there's a Dow Theory Divergence that continues to cast a huge cloud over the US Stock Market.

We saw the exact same divergence just before the Covid crash.

Notice how the Dow Jones Industrial Average is making new highs, but the Dow Jones Transportation Average is nowhere near new highs.

As Bitcoin approaches its previous all-time highs and our primary long-term target, we remain vigilant regarding several developments that may prompt a shift towards a more tactically bearish outlook. Amidst these considerations, it is imperative to prioritize money flow over subjective opinions, allowing it to guide our execution.

Did you see Gold break out to new all-time highs?

These are the highest prices ever for Gold, in all of human history.

But if you're paying attention, you'll notice how Gold prices move first, and then Bitcoin follows:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes via Form 4 filings by Stellantis NV.

The multinational automaker reported a purchase of $15.6 million in Archer Aviation Inc $ACHR.

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.

The stock market feels heavy.

The majority of stocks are having a hard time making new highs.

Some of the largest Technology and Consumer Discretionary stocks keep breaking down to new lows.

So let's check in on how the journalist community feels about the current market:

From the Desk of Ian Culley @IanCulley

Gold is up for the sixth day in a row – and it looks like this week’s breakout might be the real deal.

If it is — and gold continues to rip — it’s only a matter of time before copper breaks out too.

Check out the overlay chart of gold and copper futures:

Where gold goes, copper follows. Or perhaps they simply enjoy similar paths.

The rhyme or reason makes no difference. During a commodity bull run, precious and industrial metals will enter a broad markup phase. Gold will not take off on a rip-roaring rally without copper by its side.

I placed a question mark above copper’s former resistance level, marked by the 2011 and 2022 highs. To be clear, the annotation poses the question of when — not if – copper will resolve higher.

But before Dr. Copper can break the psychological...

From the desk of Steve Strazza @Sstrazza

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, we sort the remaining names by their proximity to new 52-week highs.

This leaves...

From the Desk of Ian Culley @IanCulley

A risk-on revival has captivated the markets.

Investors are rising to their feet…

They’re buying stocks. They’re buying crypto. They’re buying gold.

Hell, they’re even buying high-yield Emerging Market bonds!

Check out the Emerging Market High Yield Bond ETF $EMHY breaking to a new multi-year high:

I throw this EMHY breakout into the same camp as the Biotech ETF $XBI blast off — risk-on.

It’s downright impossible to hold a bearish outlook while investors dance with the riskiest bonds on offer.

If you actively trade bond ETFs, you gotta be long EMHY above 37. For me, the EMHY breakout isn’t a trading event. 

Instead, it’s all about the behavior behind...

Today's trade is a bet on the speculative juices continuing to flow through the summer. This stock has been performing fantastically since the November stock market explosion, but if we're a believer that this stock is simply tracing out the right side of a larger base, then we've still got plenty of upside to go.

Here's a chart of DoorDash $DASH:

In today's Daily Digest, we'll review:

1. No new positions today.
2. Another Adjustment to SMH position.
3. No exits since the last report.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes via Form 4 filings by the executive vice president and CFO of Caesars Entertainment Inc $CZR, Michael E. Pegram.

Pegram reported a purchase of CZR shares in the amount of $621,750.

Are you ready for this?

We've seen it before.

Look at this huge base that Bitcoin has put together over the past few years.

The way I learned it many years ago was, "The Bigger The Base, The Higher In Space".

This saying goes back to before the 1950s, according to the late great Alan Shaw.

What this price behavior displays is a long period of accumulation by large institutions.

This process of demand absorbing supply takes time.

The longer it takes, the more explosive the eventual resolution becomes.

Here's what Bitcoin looks like right now:

From the Desk of Ian Culley @IanCulley

Gold is up for the sixth day in a row – and it looks like this week’s breakout might be the real deal.

If it is — and gold continues to rip — it’s only a matter of time before copper breaks out too.

Check out the overlay chart of gold and copper futures:

Where gold goes, copper follows. Or perhaps they simply enjoy similar paths.

The rhyme or reason makes no difference. During a commodity bull run, precious and industrial metals will enter a broad markup phase. Gold will not take off on a rip-roaring rally without copper by its side.

I placed a question mark above copper’s former resistance level, marked by the 2011 and 2022 highs. To be clear, the annotation poses the question of when — not if – copper will resolve higher.

But before Dr. Copper can break the psychological barrier of five dollars, it must cut loose above four.

It’s getting close…

Copper futures are carving out a multi-month base as buyers chip away at overhead supply.

An eight-week inverted head-and-shoulders pattern is forming just below the breakout level. I expect this pattern to...