Morning Commentary
It’s begun. Yesterday saw a significant outperformance in secular growth versus mega-cap stocks.
Tech (XLK) and Communication Services (XLC) lagged.
Leadership Board
Ironically, a Tech name led the way, but the rest of the biggest advancers were in Energy (XLE), Health Care (XLV), Industrials (XLI), and Materials (XLB).
Heat Map
Investors are pleased when most stocks rally, even at the expense of mega-cap names. But we have seen fits and false rotation often this year. It’s going to happen, and maybe it has begun. Maybe?
Welcome, December
After a monster November, history suggests meandering early in the first two weeks of this month and then a surge into New Year’s.
I think fireworks will happen a lot sooner.
Today’s Session
The first thing that stood out this morning was the downward reversals in many Tech names that popped up after yesterday's close.
There will be an urge to take profits as smart money tries to get in front of the crowds for 2024.
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5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
5/1/2024 9:40 AM | MAY DAY, MAY DAY, MAY DAY |
4/30/2024 1:02 PM | Complete Flop |
4/30/2024 9:48 AM | CHIPS TAKE THE LEAD |
4/29/2024 1:39 PM | Musk Rides Back to the Mag Seven |
4/29/2024 9:50 AM | DIE BY THE SWORD, PROSPER BY THE SWORD |
4/26/2024 1:46 PM | Full Steam |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
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