On Friday, I put a tease out there – that you would be pleased with the updated results in the sector performance rankings. And now that it’s Monday, it’s time to follow up with the Tale of the Tape.We’re seeing capital flow into the right areas of the market now, which signals that the current rally has legs.Don’t forget that, from a seasonal standpoint, we’re about to enter one of the more bullish periods of the year. Based on what I’m seeing under the surface, there is some real potential for this rally to be one for the record books…
It’s Still Early For Technology
A quick glance at the updated performance rankings has technology as the top-performing sector on both one-week and 30-day intervals. I’m going to say this as plainly as possible: This is the most bullish development we’ve had in weeks.Tech is the largest and most important sector in the stock market. I’m keen on seeing the Nasdaq make a new all-time high, either this week or next, as well. If it does, it would quell some of the concerns I have from a technical standpoint.Even better is the fact that I keep seeing strong setups emerge from the tech sector. We’ve already started capitalizing on these setups in both the TheoTrade chatroom, and especially in A.I. Timing Webs.Note how the communications sector (XLC) has emerged as the leader year-to-date as well. This is a sector that’s very close to technology as well, especially if you consider what’s happening in the artificial intelligence space. Speaking of which, did you catch my letter on the New Economic Era?More By This Author:Fear Has The Markets Locked In A Tight Range We’re Not Done With Inflation Yet Why Basic Materials Are The Smart Move Right Now
