There are a lot of trends in markets that are worth paying attention to.
Remember, asset prices trend. They're not random.
We have the data.
So one major trend we want to make sure we're not ignoring is in Energy stocks relative to Technology.
Look at the ratio between them making new multi-year highs, yet the S&P500 weighting in energy is still less than 5% of the entire index. But Technology is still almost 25% of the index.
People get so angry when I tell them that Energy stocks haven't even broken out yet...
The historic outperformance in Energy over the past 2 years is just the pregame.
The real party hasn't even gotten started.
The DJ is still setting up....
We haven't even mixed the jungle juice.
Take a look at the Energy Sector Index still stuck below those 2008 highs. And its largest component Exxon Mobil (23.7% weighting) below those same levels: