Market review 23.04.09

Many opportunities in different market segments

Hello everyone,

This remains a bifurcated market and, on the surface, it can appear to be one filled with mixed and changing signals.

However, when we filter out the noise, there continue to be many attractive opportunities on the long side. Again, I’m talking tech, crypto, bonds, and of course, gold. The momentum landscape has been quite clear in this regard:

I want to do a similar format as the last post, where I discuss each of the leaders in detail and only a summary of the laggards.

I’ll also be discussing trades I’ve been personally doing and plan to do this coming week. Be sure to read to the end, where I tie things together with a look at positioning charts.

Tech

Both AAPL and MSFT made breakouts within the past month. And now, GOOGL just came out of a clean base:

Another name that catches my attention is EA. Last month’s close gave us a confirmed failed breakdown. We’re seeing some nice follow-through in the first week of April:

Artificial Intelligence: This is the big theme that remains in play right now. The high-flyer stock AI took a big hit this week. However, the chart for various Robotics & AI ETFs remain very bullish. Here is the ROBT ETF: