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VRA Letter: Markets & VRA Leading Sectors Nearing All-time Highs. New Highs Beget New Highs. Small Caps on the Verge of Major Move Higher. Xtract One.

Good Thursday morning. In addition to the myriad of reasons we’ve been aggressively bullish from the 10/13/22 bear market lows, Tuesdays trading gave us another reason to continue “buying dips”. 94% of all stocks traded on ...

Posted On November 16, 20234 MIN Read
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Good Thursday morning. In addition to the myriad of reasons we’ve been aggressively bullish from the 10/13/22 bear market lows, Tuesdays trading gave us another reason to continue “buying dips”. 94% of all stocks traded on NYSE rose in price and 92% traded on an “uptick” (buyers swamping sellers), a rarely seen event that resulted in a 90% up day (89.997%) with 10:1 advance/decline.

In the 86 previous times this has occurred (back to 1952), the S&P 500 was higher 1.44% after 10 days, 20 days later it was higher by 2.24% and 30 days later higher by 3.28%. After 65 days, 6.21% higher.

As we begin todays trading, the S&P 500 is less than 2% from ATH’s.

Our leading indicator and our single best "market tell", the semis, are right at ATH’s highs now. We own SOXL (3 x Semi ETF)

Our other leading indicator and single best "economic tell”, housing, is also right at ATH’s as well. We own NAIL (3 x Housing ETF)

Know this; as Tyler is known for saying ...

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