Momentum Monday – The Bull Is Still Strong

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The Senate flipped blue. The market was somehow expecting that as solar, EVs, batteries, other clean energy, cannabis, infrastructure, and  Chinese stocks have been rallying ahead of that. Most of them continued higher after the election results. Many are extended for new swing entries and are likely to offer better opportunities when they pull back or consolidate sideways for a few days/weeks.

Inflation expectations continue to rise. Interest rates jumped which boosted financials.  Saudi Arabia cut oil output which sent energy stocks higher. Quite a few momentum stocks that took a dive late last year, bounced towards the end of the week. In other worlds, the bull market is still strong and going. 

Mega-caps underperformed last week while the rest of the market has been strong. This has been a sign of risk-seeking as of late as capital hasn’t left the market but rotated into smaller caps.

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