Markets are reversing and extending the rally after VP Pence said he is not authorized to unilaterally deny the Electoral College. Meanwhile, panic buy is setting in as pros caught completely off guard; again.

The Georgia Senate race is still to close to call for the Ossoff/Perdue race.  The certification for the presidency is also about to begin.

Technology took a drubbing at the start of trading, but it starting to reverse course. Coming into the session, we were underweight Technology in the Hotline Model Portfolio. Financials are soaring and is the best performing sector today, as the 10-year US treasury trades at 1.05%. The potential for more stimulus is powering it higher.  In 2020, we were underweight Financials but moved to 10% towards the end of the year.

We are overweight in Materials, and gold is crushing it, and are heavy in Industrials.  We have also been overweighted in Consumer Discretionary, led by brick-and-mortar names, and unlike the street, we pounded the table on them in 2020. Only 3 S&P 500 sectors are in the red as there some rotation.0 Inde

Breadth is positive by over 2-1 and with up volume outpacing down volume almost 5-1 on the NYSE.  And look at the number of companies powering higher and hitting 52-week highs.