The New Highs List Keeps Growing

November 20, 2023

Technology as a sector just closed at a new all-time high.

In other words, half the Nasdaq's weighting is at a new high. In the S&P500, Tech represents close to 1/3 of the index.

Are you going to make the bet that the one on the bottom is not going to follow the one on top?

Meanwhile, the Dow Jones Industrial Average is more diversified when it comes to sector weightings. Tech represents less than 20% of the Index.

But the Dow is just 3.9% from a new All-time high:

Tech's weighting in the Small-cap Russell2000 is just 15%.

Still, Small-caps are just 10% from a new 52-week high.

Can we see IWM at new highs by Christmas?

I think we can.

Because contrary to popular belief, this is a much broader based rally than is being reported.

Over 1200 stocks on the NYSE are up double digits this year.

But on the evening news they tell your parents that it's only 7 stocks going up.

Out of curiosity how many of those 7 stocks are traded in Germany or Japan, whose indexes are each just 3% from new highs?

Do these look like major tops? Or just regular uptrends?

People love fighting bull markets.

We've consciously chosen not to.

A lot of times, the biggest risk is not having enough exposure.

We'll discuss everything tonight on our LIVE Strategy Session. We'll get going LIVE @ 6PM ET.

See you there!

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