Momentum Monday…A Break From Relentless Selling or Just Selling Rotation? and Let’s Talk About Bonds…
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Good morning everyone.
Last week there was a little bit of relief for tech stocks and banks. Defense stocks are benefitting from the drumbeat of war and actual spending.
Here is this weeks Momentum Monday where Ivanhoff and I tour the markets looking for momentum. I have embedded the viseo on the blog here below:
While some tech bounced, the selling and rollovers continues in rails and truckers. The recession textbook is in play, but the strength in energy defies the playbook for now.
I share a couple new ideas starting at minute 13…
It is BONDS that are the big crash story of 2022 (even though China markets crash is a big one).
Here are two charts that capture the Bond misery:
I added some bonds via $AGG for the first time in my life (but I have been heavy cash and am an old fart).
Here are Ivanhoff’s thoughts and he lists the defense stocks that are strongest right now:
The S&P 500 (SPY) finally had a strong weekly close for the first time since early September. SPY has room to run to 380 where it will probably encounter some minor (Read more...)