This is a big deal for me.

Those of you who know me well already know.

Tomorrow is the last day of June. So do you know what that means????

NEW MONTHLY CHARTS!!!!

If you're new around here, I will just tell you that there is NOTHING, and I mean absolutely NOTHING, I do that adds more value to my approach than this process of taking a step back and reviewing a list of Monthly Charts.

It's so easy to get lost in the day to day noise of the markets.... What did the Dow do today? What did the Powell say? Who reported earnings this morning? etc etc...

I have found over the years that it is so important to just stop, take a deep breath, and focus on the direction of the primary trends.

The reason is because asset prices trend. They're not random. We know this. It's just a fact.

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 Hall of Famers, 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.

Welcome to the Short Report.

We...

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended June 21, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

Click here for a behind-the-scenes look at our process.

Whether we’re measuring increasing interest based on large institutional purchases, unusual...

The U.S. Industrials sector represents one of the most important groups of stocks in the entire market.

So with new all-time highs in the S&P500 and Russell3000, then why are Industrials, who historically have the highest correlation with these indexes, not able to keep up?

Industrials are actually down over the past 3 months.

But the Aerospace & Defense stocks, that fall within the category of Industrials, continue to hit new all-time highs.

This chart really stood out to me this week.

We just saw the Australian Dollar vs the Japanese Yen close at the highest levels since 2007.

So why investors care about the Aussie/Yen cross?

Because look how it trades with commodities...

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 Steve Strazza @Sstrazza

Welcome to The Junior International Hall of Famers.

With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US-listed international stocks, or ADRs.

This scan is composed of the next 100 largest stocks by market cap, those that come after the top 100 and are thus covered by the International Hall of Famers universe.

Many of these names will someday graduate and join our original International Hall Of Famers list. The idea here is to catch these big trends as early on as possible.

Let’s dive right in and check out what these future big boys are up to.

This is our Junior International Hall of Famers list:

Click table to enlarge view

And here’s how we arrived at it…

We removed laggards which are down 5% or more relative to the ACWI Ex. U.S. Index $ACWX over...

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 Russell3000 just closed at back-to-back new all-time highs this week.

This Index represents approximately 98% of all investable assets in the U.S. equities market.

And it's currently at the highest price in its entire history:

This is the video recording of the June 2024 Mid-month Conference Call.

Big day today!

6/18 represents the Golden Ratio on the calendar.

Math nerds all over the world are celebrating!

But how do we profit from this ratio?

Where does it fit into the market?

Here's a great example.

This is the Dow Jones Transportation Average retracing exactly 61.8% of the entire rally from the lows last Fall, and up to the highs this Spring.

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.

To make the cut for our Minor Leaguers list now, 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 highs in order to...