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.

With the S&P500 and Nasdaq closing at new all-time highs this week, the questions remain:

Is this sustainable?

Does the rally have legs?

Can this bull market continue?

Before I get to what I think is the most bullish thing that can possibly happen to this market, I have one sector I'd like to focus on quickly.

This is the S&P Industrials Index, which historically has the highest positive correlation with the S&P500 of all the S&P sectors.

Is this just a consolidation within an ongoing uptrend in a leadership group? Or is this a double top that's about to come tumbling down?

Stocks needed a correction.

And they got it.

Most stocks haven't made much progress since the middle of Q1. It's now July. They've been through a much needed digestion of prior gains.

Remember how epic that rally in Q4 was last year? And then it spilled over into January and early February this year.

But then came the correction.

A good look here is the Equally-weighted Nasdaq100 going out at new all-time highs on Friday, after 4 months of no progress:

From the desk of Steve Strazza @Sstrazza

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:

...

From the Desk of Ian Culley @IanCulley

Forget about the selloff in Bitcoin for a minute.

Coal stocks are ripping!

Perhaps they’re giving back some recent gains today, but most stocks are.

More importantly, Monday marked the largest one-day rate-of-change for our Coal Index since 2020…

If you’re wondering why we created an index of coal stocks, the answer is simple: The December 2020 delisting of the VanEck Vectors Coal ETF $KOL forced our hand.

They shut down the only coal ETF just as commodities began ripping (many toward new all-time highs). You can’t make this stuff up… 

One of our favorite names – Alpha Metallurgical Resources $AMR – has gained over 4,000% off the December 2020 lows. Unbelievable!

Almost four years later, the rally isn’t over for these names. 

Our coal index is on the verge of kicking off the next leg higher:

In this week’s commodity trade section, I’ll review the six coal stocks from our index, outlining critical levels to trade against and logical areas to...

From the Desk of Ian Culley @IanCulley

Chop, chop, chop…

Yields on sovereign debt are chopping sideways across the globe.

The US, France, Germany, Spain, and UK benchmark rates are well below their respective 2023 peaks.

But in Japan, the JGB 10-year yield is hitting its highest level in over a decade. 

Check out the Japan benchmark rate cruising above 100 basis points: 

Earlier in the week, the Japan 10-year yield reached 1.10 for the first time since July 2011. 

While the Bank of Canada, the Swiss National Bank, and the European Central Bank began cutting rates this year, the Bank of Japan (BoJ) may hike later this month. 

You can blame it on a plummeting yen or the BoJ’s Yield Curve Control policies. 

Either way, it’s clear that Japan’s era of negative interest rates has ended, and the previous decade’s easy money environment no longer exits — full stop. 

Instead of contemplating...

Bitcoin is celebrating American Independence day by falling over $3000 in overnight trading.

That's over a 20% correction in less than a month.

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

As most of you know, we use 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 journey to becoming the market...

The rotation into Consumer Discretionary is happening.

And isn't this exactly what we've always seen in bull markets?

You buy the pull back in the offensive sectors during bull markets.

That's literally what the BTFD stands for.

This rotation into Consumer Discretionary has been exactly that - a BTFD moment.

Look at Tesla up 10% today and up 30% since we highlighted the trade right here 2 weeks ago.

From the Desk of Ian Culley @IanCulley

The smart money is snatching up Canadian dollars.

Last month, commercial hedgers extended their Canadian dollar exposure to their largest net-long historical position.

While positioning represents a condition – not a signal – we can only view the hedger's appetite for the loonie in one light…

Bullish!

Notice that extended commercial long positioning (the bright blue line in the lower pane) coincides with critical inflection points:

These market turns preceded extensive rallies in 2016, 2017, and 2020.

Before boarding the loonie’s next rip-roaring rally, price must provide a well-defined entry with a favorable risk-to-reward profile.

But the past two years of sideways action look more like a topping or bearish continuation pattern, not a bullish reversal:

The bullish argument for Canadian dollar futures doesn’t improve when we slap on a...

Last night was the big LIVE Event that I host at the beginning of every month.

There is no better way to start a new month, and in this case a new quarter, than going one by one and identifying the direction of primary trends for the world's most important stocks and assets.

Just for perspective, here are the S&P500 and Nasdaq100 Quarterly Candlesticks making new all-time highs, again.

As you can see, these are the types of things you tend to see in bull markets. You do NOT see them in bear markets.

This is the video recording of our July 1st Monthly Charts Live Strategy Session