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A final-hour market briefing says the regime shifted bullish today, with breadth expanding to 774 bull names versus 433 bears and 83% of stocks above their 20-day average. Money is rotating out of mega-cap tech and energy into consumer discretionary, staples, health care and financials. The hosts recommend trimming AFRM and APO, cutting energy, and...
Key points
Breadth expanded sharply: 774 bull names vs 433 bears, with 83% of stocks above their 20-day SMA.
Institutional money is rotating out of mega-cap tech (QQQ below its 20-day average) and energy (RSPG down 5.48%) into consumer discretionary, staples, health care and financials.
Trim AFRM and APO longs because they are fading below their opening prices despite positive catalysts; consider cutting energy holdings entirely.
Watch SPY for a close above the 767.63 to 767.08 cluster; in IWM, a push through 286.17 is a breakout and a slip below 283.18 invalidates it.
Bias is to buy strength in equal-weight leadership and stay underweight tech and energy, but expect a possible digestion day tomorrow.
See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open QQQ in WaveFinder.
See RSPG in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open RSPG in WaveFinder.
See AFRM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open AFRM in WaveFinder.
See APO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open APO in WaveFinder.
See CROX in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open CROX in WaveFinder.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPY in WaveFinder.
See IWM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open IWM in WaveFinder.