Stock Groups

A Tale of Two Stock Markets -Breaking

by Mike Robinson

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Two Stock Markets: A Tale of Two Stock Markets

We continue to digest the market’s overbought conditions through a market rotation as has been custom for most of 2021. Tech stocks performed well last week while cyclicals, energy stocks, and other stocks suffered. Much of that trend is now reversed today. Another way it’s manifested is the S&P 500 (SPY) making new highs today, while the is now down 5% since November 8. Today’s commentary will cover our gameplan for dealing with this shift in market behavior, and provide updates on the 2 bearish items discussed last week. Read on below to find out more….You can enjoy the updated version of my Weekly Commentary, published November 22nd 2021 in the POWR growth newsletter.

First, let’s take a look at the past week:

The past week’s price action also exemplifies the change in market conditions. Over the past week, the S&P 500 gradually made its way before breaking out to new highs today morning on the news that Fed Chair Powell would be renominated by President Biden.

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