January Strength Signals a Broadening Bull Market

TopdownCharts
02-02

Learnings and conclusions from this week’s charts:

  • Stocks closed up in January (equal-weight beat cap-weight).

  • A positive January is a positive sign for the rest of the year.

  • Seeing apparent rotation out of crypto into precious metals.

  • Also seeing rotation from growth/tech to value/cyclicals.

  • Signs are it’s a case of “bullish rotation” (broadening bull).

Overall, we’ve managed to get off to a decent start to the year with the gains and bullish rotations of January. There are a few risk spots to keep tabs on (price action in crypto, tech/growth), but the relative strength in some of the more cyclical parts of the market raise the prospect of a bullish broadening…

Happy New Month! the (market cap weighted) S&P 500 $S&P 500(.SPX)$ closed up +1.4% for January, however the equal-weighted S&P 500 gained +3.3% — a reflection of some of the rotation trades in play at the moment. Big picture, the uptrend/bull-market is still well intact.

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