Nasdaq $QQQ survives the 100-day moving average test again
✅ Absolutely incredible Source: Barchart
Amazing dichotomy between Tech hardware and software stocks over the last year.
Hardware and semis stocks are up the most of any group with average gains of 50%+. Software stocks are down the most of any group with an average decline of 20%+. Source: Bespoke
The semiconductors relative to software performance is getting very very extreme...
Long / short positioning on this pair by hedge funds is also hitting extreme levels Source: RBC, Bloomberg
Goldman notes that after a few quarters of uninspiring market that follows positive earnings release, beats are finally being rewarded.
Companies beating consensus EPS estimates have outperformed on the day after reporting by +207 bp on average, more than double the historical average of +98 bp.
Here's how the Magnificent 7 names have performed when they were led by founders vs not
Source: Evan Evan StockMKTNewz
THIRD WAVE OF THE US DOLLAR CYCLE
Interesting comment by Crescat Capital: ‘We think the gold panic on Friday on the announcement of Kevin Warsh as the new Fed Chair caused a healthy pullback from short-term overbought conditions in the precious metals markets. While Warsh may appear the least dovish among President Trump’s candidates, we believe he is indeed in favor of lowering interest rates in 2026, as the President has also affirmed. Investors in Crescat’s portfolio of undervalued precious and critical metals miners should not be too concerned. Our activist mining portfolio outperformed gold, silver, and the gold equity benchmarks, both on Friday and cumulatively for the month of January. Still, the gold correction was no small matter. We think it presents a buying opportunity. In fact, now, as much as ever, is the time for gold investors not to panic but to step back and look at the big picture’. Source: Crescat Capital
S&P 500 Drawdowns Under New Fed Chairs
Source: Bloomberg, Sam Ro, alexandraandnyc
The new merger between xAi and SpaceX means the following are all under one company
The new merger between xAi and SpaceX means the following are all under one company: - SpaceX rockets, with 90% market share of launching mass into orbit. - Starlink, the only global telecommunications system. - Starshield, another version of Starlink for the US military which enables the US military to communicate around the planet without using the telecomm systems of any other country. - xAi, Grok - X (formerly Twitter) Source: Sawyer Merritt @SawyerMerritt WallStreetMav (@Wall Street Mav)
