Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌WNS (Holdings) Ltd $WNS – Director Anil Chintapalli just filed a $1.1 million Form 4. That’s a sizable bet on an Indian IT services name that doesn’t usually see much insider action.

📌 WEX Inc $WEX – President and CEO Melissa Smith bought $500,000 in stock. That’s a strong show of confidence from the top seat. 

When the C-suite gets involved at this scale, it’s worth paying attention, especially when the purchase comes at a key level of support. 

Here’s The Hot Corner, with data from June 2, 2025:

Click the table to enlarge it.

📌 Capitol Hill is getting active again....

Today's number is... 41

The relative ratio of the Momentum Index versus the S&P 500 Index has reached a fresh 41-month new high.

Here’s the chart:

Let's break down what the chart shows:

• The black line in the top panel shows the relative ratio of the Momentum Index versus the S&P 500 Index.
• The red line is the 200-day moving average of the relative ratio.
• The blue line is the 50-day moving average of the relative ratio.
• The green and red line in the bottom panel represents the daily Relative Strength Index (RSI) for the relative ratio. When the line is green, it indicates that the daily RSI is in a bullish regime, while a red line signifies that the daily RSI is in a bearish regime.

The Takeaway: This ratio just broke out to its highest level since December 2021. That tells me something simple… Investors are getting more aggressive. 

They’re buying strength. They want exposure to risk...

All year long, we've been pounding the table on one core idea: the real money-making opportunities are showing up outside the United States.

Week after week, international markets are hitting fresh highs while U.S. equities continue to lag, stuck below their pre-tariff peaks.

You can literally see the rotation happening. The visual below turns our Power Rankings table into a color-coded map—clearly showing capital flowing out of the U.S. and into global equities.

Zoom into Europe, and it's even more obvious: green everywhere. These markets aren't just moving—they're going vertical.

Plot the performance of Europe $VGK against the U.S. $VOO this year, and it's a straight line higher. Europe is crushing it.

Meanwhile, most passive investors are sitting in stale U.S. exposure, completely missing the move.

After 15 years of U.S. market dominance, the tide may finally be turning. The data is stacking up. The rotation is real.

The question is no longer if global markets are outperforming. The question is—are you...

The way I learned it is that gold moves first. 

And then copper. 

And finally crude oil. 

That’s the intermarket theory and order I’m familiar with for commodities. 

Jason and the guys at Gold Rush do a great job of covering intermarket relationships and what they all mean. 

They’ve been all over these commodity trends all year. Some have been great, like gold. Others are messy, like copper. And some downright bad, like crude. It’s been a mixed bag to say the least. 

But today, all the buzz is about silver. It’s having its best day of the year as it rips higher out of a bull flag. 

Our volatility squeeze indicator suggests a big move is brewing, and there is plenty of runway considering the pattern hasn’t even broken out yet. 35.25...

Sign up for my free note here.

Gold has been one of the strongest and clearest uptrends in the market this year.

While most investors have been glued to recession headlines or getting whipped around by the latest macro drama, gold’s been quietly leading — breaking out to new all-time highs and holding them like a champ.

And now the strength is spreading.

Silver’s finally catching a strong bid. Copper’s perking up. And the miners are finally breaking out.

The Junior...

We’ve seen this before.

Gold quietly builds momentum, breaks out to new highs, and suddenly the whole world starts paying attention. 

Then Silver wakes up violently. 

And the miners? They go vertical.

This playbook isn’t new. It’s just unfolding again.

Right now, Gold is trading at all-time highs, Silver is coiling under decade-long resistance, and Silver miners are showing early signs of a major trend reversal relative to the underlying commodity.

The stage is set, and the next act could be explosive.

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

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.

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

And it doesn't have to be a Russell component — it can be any US-listed equity. With participation expanding around the globe, we want all those ADRs in our universe.

The same price and liquidity filters are applied. Then, as always, we sort by proximity to new...

Last week, I got involved in Coinbase as a play on a new alt-season being on the cusp of breaking out. But Coinbase isn't the only brokerage with a chart that looks great.

Another one broke out to a post-IPO high today and I'm getting involved to broaden my exposure to this space.

In today’s Daily Digest, we’ll review the following:

1. New position in KRE (regional banks)
2. No adjustments since the last report.
3. Closed ARKK position.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

When it comes to retail dominance, few names carry as much weight as Costco Wholesale $COST.

For years, this company has been the gold standard for operational efficiency and customer loyalty. 

They thrive in both inflationary and deflationary environments. 

Whether consumers are stockpiling for uncertain times or looking for value in everyday essentials, it consistently delivers.

Membership growth remains steady, renewal rates are near all-time highs, and recurring revenue from fees continues to be one of the most underappreciated drivers of long-term value.

In the latest quarter, the company once again posted a double beat, and the market rewarded it with another move higher.

Despite broader concerns about slowing consumer spending, this business continues to prove it can grow, defend margins, and execute.

The market knows it. And the stock is acting accordingly.

So what else did we learn from Friday's earnings reactions? Let’s dive into the details.

*Click the image to enlarge it

Ulta Beauty $ULTA had the best...

Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌 Lionsgate Studios $LION – Former Treasury Secretary Steve Mnuchin, now Founder and Managing Partner of Liberty Strategic Capital, just stepped in with a monster insider buy, dropping nearly $50 million.

This brings the fund’s total stake in LION to roughly 15%. 

📌 Reynolds Consumer Products $REYN – Senior Vice President and Corporate Controller Chris Mayrhofer made a solid $514,000 purchase.

Here’s The Hot Corner, with data from May 30, 2025:

Click the table to enlarge it.

📌 Halliburton $HAL – Director Janet Weiss swooped in with a Form 4 for $169,000. This purchase comes as HAL trades at fresh 52-...

Today's number is... 1

We saw stage one of the breadth cycle... I’m now on the lookout for stage two.

Here’s the chart:

The Takeaway: First, I want to give a huge shoutout to Mike Hurley, who taught me this way to look at the stock market!

We recently saw stage one of the breadth cycle.

In my framework, that means Spring is here.

On May 12th, over 55% of S&P 500 stocks made 20-day highs. That’s a breadth thrust — the kind of signal we only see at major turning points. It marks the beginning of a new leg higher, not just for a handful of stocks, but across the board.

But first, a quick recap on how we define the breadth cycle.

I break the market into four seasons:

• Spring: The reset. It starts with a breadth thrust — shown as a green line in our chart.
• Summer: The uptrend and momentum strengthen. Breadth and leadership move together.
• Fall: A warning sign. An unusual spike in the 52-week lows marks the “first fall day” — the red line.
• Winter...

One thing I’m looking to do more of here at ASC is share some of the scans we’re running internally each week.

Our roots are in top down technical analysis. We do it better than anyone. And we share a lot of it, but we don’t share enough.

We’re literally running hundreds of ad-hoc scans each week. And we’re going to start giving one away every weekend.

This one is a clear and simple leadership scan, which is why I like it so much. This is the textbook top down approach. It doesn’t get any better.

We start with the best sectors, drill into the best subgroups, pick one, and then find the top stocks.

This week, Industrials stand out as a clear leader—second only to Tech, up nearly 9% in May, and the first sector to complete the V-shaped recovery and retest all-time highs.

Within Industrials, the...

We covered a lot of ground last week.

From some of the world's most important companies to small-cap Aerospace & Defense names, earnings season continues to give us plenty to chew on. 

Some stocks are following through to the upside after strong earnings reactions, while others are struggling with overhead supply.

In this week’s recap, we'll highlight the most important moves and where the next opportunities may be.

• Monday:
  • Intuit $INTU reported a double beat and closed at a fresh all-time high. The stock resolved a massive basing pattern, entering a brand-new primary uptrend.
  • Deckers Outdoor $DECK reported a double beat and was crushed for it. The stock resolved a textbook distribution pattern, entering a brand-new primary downtrend.
• Tuesday:
  • No S&P 500 earnings reactions, but we...

Below is my weekly video for members of Macke's Retail Roundup.

The SPDR S&P Retail ETF (XRT) closed the week up 0.5%, essentially unchanged. But under the surface, there's been a ton of action. 

Though it's been a couple of weeks since we've added to the portfolio, we've been plenty busy digesting a deluge of earnings reports and market reactions. 

Build-A-Bear Workshop (BBW) just rocketed to new all-time highs on the back of its report Thursday morning. We also heard from Dick's Sporting Goods (DKS) and Costco (COST) —both uneventful— as well as Abercrombie & Fitch (ANF), Macy's (M), e.l.f. Beauty (ELF), The Gap (GPS), and Shoe Carnival (SCVL).

Some of those names are in our portfolio, others are on our watchlist. So there's a lot going on. Sometimes it's better to let the dust settle before jumping into new positions. And that's what we've been doing. 

With this week serving as the final big retail earnings week—DG, DLTR, OLLI, FIVE, VSCO, LULU, PV, LE, and GIII all reporting—there will likely be plenty more fireworks. 

Here's...

Every weekend, I dive into our insider activity tracker looking for the most interesting and bullish buys — there’s always something good.

Here’s this week’s most notable activity:

The most notable insider activity this week came from Toyota Motor Corp, which dropped an additional $250 million into Joby Aviation $JOBY. 

That’s as big as it gets. When a global giant like Toyota is writing checks of that size, it demands our attention. 

Alfonso wrote a deep dive report on this theme recently, highlighting several trade ideas tied to Toyota’s growing portfolio of mobility investments.

Next up is Xerox Holdings $XRX, where multiple executives — including the CEO, CFO, President, and COO — all stepped in to buy. None of them bought too much, to be clear, but it still stands out. 

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.