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.

Banks Tank

The SPDR Regional Banking Index (KRE) registered its lowest weekly close since January 2021 as it threatens to break down from a topping pattern. In addition, the price is violating its AVWAP from the March 2020 lows, and momentum is hitting oversold conditions. If KRE is below this polarity zone ~58, the path of least resistance is lower, and we should be prepared for a leg to the downside.

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, as 83% of our list closed lower with a median return of -1.66%.
• Crude Oil $CL was the winner, closing with a 4.60% gain.
• The biggest loser was Lumber $LB, with a weekly loss of -5.84%.
• There was a 2% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
• 13% of our macro list made fresh 4-week highs, and 11% made new 13-week...

The largest insider buy on today’s list comes in a Form 4 filing by Hill Path Capital Partners.

The hedge fund revealed a purchase in Dave & Buster's Entertainment $PLAY for roughly $12 million.

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

A few days ago, we wrote about two large-cap secular leaders from our Inside Scoop list.

We love betting on long-term outperformers.

We discussed them on Wednesday's live strategy session as well.

We also outlined some new long ideas in stocks that are showing relative strength over shorter timeframes.

Let's talk about these names a little more now.

From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

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. You can 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. ...

From the Desk of Steve Strazza @Sstrazza

Equity markets around the globe are getting rocked as we close out another rough week.

And then there's China, which is green on the day.

This isn't just a one-day thing. In fact, it's quite the opposite. China has been showing impressive relative strength since bottoming in late October.

Today is just a microcosm of what that leadership has looked like.

It's had our attention for a while already, which is why we're about to discuss the structural outlook for Chinese stocks and outline some long ideas in the strongest names.

Here's the performance of a basket of international equity ETFs since markets bottomed and ripped higher on Oct. 13:

While China didn't bottom until a few weeks later, on Oct. 31, the MSCI China ETF $MCHI has still outperformed other global stock market indexes over this period.

When we look at the performance of Chinese Technology $CQQQ, the leadership is even more pronounced. Most US-listed Chinese stocks fall into the...

The largest insider buy on today’s list comes in a Form 4 filing by Bryant R. Riley, chairman and CEO of B. Riley Financial $RILY.

Riley reported a purchase of $2.5 million worth of RILY stock.

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

We're still picking our spots selectively when it comes to long ideas on our Inside Scoop list.

However, every now and then, some secular leaders pop up on our scan, offering us nice entries and favorable risk-reward ratios.

We're always looking for ways to gain exposure to these outperformers.

Today, we have two industry bellwethers and household names that recently broke out to new highs relative to the broader market.

Let's take a look at these leaders now.

The largest insider buy on today’s list comes in a Form 4 filing by the early stage life sciences investment firm Atlas Venture.

The venture capital fund now owns a total stake in Dyne Therapeutics $DYN of more than 17%.

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...

This is the video recording of our December 14, 2022, Inside Scoop Weekly Strategy Session.

The largest insider buy on today’s list comes in a Form 4 filing by the CEO of SoFi Technologies $SOFI, Anthony Noto.

Noto disclosed a $5 million purchase of SOFI shares.