By Graham Summers, MBA | Chief Market Strategist
Ignore the doomers, there is ALWAYS a profit to be made somewhere.
Because of a 5% drop in the last two weeks, the overall stock market, as measured by the S&P 500, is effectively flat since election night. Put another way, stocks have gone nowhere for two months straight. Worse still, the S&P 500 is clearly forming a Head and Shoulders topping pattern.
Seeing this, the doom cloud is proclaiming that the market is forming THE top for this bull market begun in 2022. Perhaps this is true. I doubt it. None of my proprietary market timing tools are registering that this is THE top or even a major top.
Moreover, in investing, the REAL money isn’t made in timing a top. It’s made in following market leaders. And while the S&P 500 has done nothing for the better part of eight weeks, certain key sectors of the markets are EXPLODING higher.
I mentioned Quantum Computing as a key sector to watch in mid-December. This area of the market continues to EXPLODE higher with some names like Rigetti Computing (RGTI) up QUADRUPLE digits.
Quantum Computing isn’t the only area of the market showing massive returns. Robotics is another area of the market that has begun to ignite upwards. Nauticus Robotics (KITT) is just one play that is up triple digits in the last few weeks.
And then there are drones. Here again numerous names are exploding higher producing triple digit gains in the last few weeks alone. Mobilicom Limited (MOB) is just one such name that has proving the “there’s no money to be made in stocks” narrative incorrect.
These are just a handful of market leaders. But there are more. Many more. So feel free to listen to the doomers who tell you the market is done. But you’ll be missing out on a lot of great opportunities in the markets.
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Best Regards
Graham Summers, MBA
Chief Market Strategist
Phoenix Capital Research
