From the Desk of Kimmy Sokoloff

The market is happy today, gapping up after the Fed.

Gap-ups are hard, as you don't know if they'll continue or pull in.

The Dow Jones Industrial Average and Dow Jones Transportation Average are both hitting new 52-week highs.

These are things we see regularly in uptrends. Not so much in downtrends:

From the Desk of Kimmy Sokoloff

The Fed raised a quarter point, but we kinda knew that was coming.

The market, as of now, is all over the place.

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...

We've adjusted a position in the Paid-to-Play portfolio today:

The largest insider transaction on today’s list comes in a Form 4 filing by SoftBank Vision Fund entity SVF II SPAC Investment 3 (DE) LLC.

SVF reported the purchase of 17,825,312 shares of Symbotic Inc $SYM, equivalent to $500 million.

From the Desk of Kimmy Sokoloff

Today's the day: Will the Fed raise rates for one last time this year?

We'll see at 2:00 p.m. ET.

$GOOGL had a nice move after hours.

From the Desk of Ian Culley @IanCulley

The US dollar isn’t going down without a fight.

Investors weren’t given much time to celebrate the breakdown as it quickly turned into a potential failed breakdown. 

Before we get ahead of ourselves, it could simply turn into a hard retest.

It happens all the time.

So let’s check the charts…

The US Dollar Index $DXY is trading back above a critical shelf of former lows:

As long as it’s above that level – let’s call it 101 – the odds of a failed move increase.

On the other hand, price could chop sideways for longer than anyone cares to believe.

It’s a real possibility, especially when zooming out on the daily chart:

...

From the Desk of Kimmy Sokoloff

We had decent movement in the indices today.

We'll see how $GOOGL does after the close.

The indices are flagging, but I think it all depends on tonight.

We've adjusted a position in the Paid-to-Play portfolio today:

The largest insider buy on today’s list comes in a Form 4 filing by the former chairman of FB Financial Corporation $FBK, James W. Ayers.

Ayers revealed a purchase of 12,000 FBK shares, equivalent to $393,600.

Here's something you don't see every day.

European Financials hitting new 52-week highs?