The Momentum factor is up +25% YTD, with hedge fund Momentum net exposure near 5-year highs. The divergence is extreme: semiconductors +30% since the Iran War (Feb 28), but equal-weight S&P -1%, Consumer Staples -5%, Health Care -9%.
S&P 500 Concludes Best Month! Shall We Sell In May?
April's final session: $S&P 500(.SPX)$ closed at all-time highs (+1%), $NASDAQ(.IXIC)$ +0.89%. Full month: S&P 500 +10.4%, Nasdaq +14.8% — the strongest single-month return since the post-COVID rebound in 2020.
Based on historical data, if multiple new highs are reached in April, the subsequent market performance is usually relatively strong.
Will the bull run continue into may?
Do you chase the new high or wait for a pullback?
Which sector do you think catches up?
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