From the Desk of Kimmy Sokoloff

As far as earnings go, $AMZN and $GOOGL for Big Tech were the weak links.

$QQQ is almost at its peak price.

From the Desk of Kimmy Sokoloff

That was a stick save by $META, and now we have $AMZN tonight.

$QQQ came back above the 316 level I've been talking about inside the live trading room.

The largest insider buy on today’s list comes in a Form 4 filing by Enphase Energy $ENPH director T.J. Rodgers.

Rodgers, who is the founder of Cypress Semiconductor and also holds a patent for a wine-making press, reported a purchase of roughly $5 million of ENPH.

From the Desk of Kimmy Sokoloff

If you look under the hood, overall this market is weak.

Without Big Tech, there really isn't too much to talk about, except maybe commodities.

From the Desk of Steve Strazza @Sstrazza

Welcome to the 2 to 100 Club.

As many of you know, something we've been working on internally is using 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...

From the Desk of Kimmy Sokoloff

Every day last week the market would dip in the morning and rally in the afternoon.

This week has been the opposite: We've been grinding lower in the afternoons.

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

I'm in New York City along with the rest of the All Star Charts team for the annual CMT symposium this week, so there's no Inside Scoop Weekly Strategy Session today.

We'll be back with our regular schedule next week.

For today, we figured we'd do a quick post discussing some of the macro themes we're watching right now, as well as a trade idea in one of our favorite names.

From the Desk of Kimmy Sokoloff

Two heavyweights reported earnings yesterday and, as of now, $MSFT came out on top.

Now lets see if it holds on to the gains. 

The largest insider buy on today’s list comes in a Form 4 filing by Texas Capital Bancshares $TCBI director Robert W. Stallings.

Stallings reported a purchase of roughly $1 million of TCBI stock.

From the Desk of Kimmy Sokoloff

Today was the first real breakdown for the indices, with $IWM leading the way.

For $SPY and $QQQ it was the first real break below their respective 21-day moving averages.

The largest insider transaction on today’s list comes in a Form 4 filing by Ares Management.

Ares revealed a purchase of roughly $4.1 million in Frontier Communications Parent $FYBR.

From the Desk of Kimmy Sokoloff

This market is completely stuck in a range, and we haven't been able to get out of it for at least two weeks.

This morning the indices are back near yesterday’s low.