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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7/26/2024 1:36 PM | Friday Recovery |
7/26/2024 9:29 AM | WRAPPED AROUND YOUR FINGER |
7/25/2024 12:58 PM | A Look at GDP |
7/25/2024 9:57 AM | TURNING THE PAGE ON RESOLVE |
7/24/2024 1:49 PM | Vulnerable Market |
7/24/2024 9:47 AM | Mega Misses |
7/23/2024 1:04 PM | Lay Summer Session |
7/23/2024 9:25 AM | MOST EXPANSIVE BREADTH = GREATER OPTIMISM |
7/22/2024 1:23 PM | Rebounding |
7/22/2024 9:47 AM | WILL THE HUNT FOR VALUE CONTINUE? |
7/19/2024 1:32 PM | Under Pressure |
7/19/2024 9:56 AM | STAR FOR ONLY A WEEK? |
7/18/2024 1:30 PM | All Eyes on Netflix |
7/18/2024 10:18 AM | BIG BETS ON TRUMP TRADE |
7/17/2024 1:37 PM | Technology Troubles |
7/17/2024 9:59 AM | EMPHATIC! |
7/16/2024 12:44 PM | AI Drifting Lower |
7/16/2024 9:52 AM | NEW KIND OF WINNING |
7/15/2024 1:32 PM | Small Caps On The Move |
7/15/2024 9:50 AM | FULL SPEED AHEAD |
7/12/2024 12:56 PM | Intriguing Small Caps |
7/12/2024 9:48 AM | IT’S GOOD TO BE THE KING |
7/11/2024 1:25 PM | Equal Weight Comeback? |
7/11/2024 9:42 AM | CALLING ALL STOCKS |
7/10/2024 1:15 PM | Rally Broadens |
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