Hanging out in New York City this week has been such a blast. 

Today, I gave an extra-long presentation on the outlook for global equities. We talked it all out in the room for several hours. 

For me, there is one big takeaway that towers over the rest. I think 2025 will be all about China. 

In my presentation, I gave three major reasons why I’m bullish on Chinese equities. Here they are:

• The initiation thrust from September.
• The rotation happening within emerging markets.
• The prevailing bearish sentiment around China.

Then, right in the middle of my presentation, Dan Ives showed up.

It was the cherry on top of what has already been an incredible week.

It was epic.

Yesterday was unreal. We visited the NYSE with Jay Woods and got a full tour of the place.

Walking the trading floor during market hours was an incredible experience—watching the action and how things work, staying until the closing bell, and taking in that iconic moment firsthand. I’ll never forget it.

Afterward, we hung out and had some drinks right there on the floor. I feel like I just lived through the classic NYSE traders routine.

Then it was right back to work. We woke up this morning and hit it hard.

We just ended the first day of presentations, and everyone absolutely crushed it.

JC kicked things off with a state of the markets talking about sector rotation and why it is the lifeblood of a bull market.

We discussed a ton of ideas and finally made some trades.

Jason did a deep dive on Gold and Precious Metals.

Just landed in NYC for our Portfolio Accelerator event, and I couldn’t be more excited!

Every few months, the whole All Star Charts crew gets together with program members and some of our closest friends in the industry for an exclusive gathering of the brightest minds in finance.

It’s the perfect opportunity to connect with incredible people and dive deep into what’s working in the markets right now.

Last year was amazing, but I already know this one’s going to take it to another level.

It’s my third time in the city, and I feel so fortunate to be part of something like this.

Being around some of the sharpest traders, portfolio managers, and technicians isn’t just inspiring—it’s a massive chance to learn and grow.

Everyone’s here—JC, Sean, Sam, Patrick. These are my people. And every time we come...

I’ve been pounding the table on how much I like space stocks lately. 

These high-beta names are loaded with upside potential, and when they start to move, they really move.

Just look at their performance last year—it speaks for itself.

The ARK Space Exploration & Innovation ETF $ARKX is the best index for tracking this group of stocks.

It’s been the strongest performer of all the Ark funds, hitting new all-time highs this cycle before the rest of the pack.

The ETF is on the verge of completing a multi-year base.

The line in the sand lies at those old 2021 highs around 21. If buyers can hold above this zone, the path of least resistance remains firmly to the upside. 

As for the relative trend, it looks just as good...

The uranium and nuclear power story is heating up again.

Many names in this space are on the cusp of breaking out and embarking on fresh new uptrends.

Take a look at the VanEck Uranium and Nuclear Energy ETF $NLR.

The ETF is breaking higher from a rounding bottom pattern, approaching its highest level since 2008.

These patterns take time as buyers shift from sideways to bullish, but when they go, they really go. 

There are some monster setups when you look at the individual components.

I think we want to be long the top uranium names as long as NLR is above 85.

That's the playbook.

Pick your players, and define your risk. It’s game on.

That’s exactly what we did with our Breakout Multiplier strategy. We bought call options in both Cameco $CCJ, and...

Infrastructure companies play a key role in supporting the global economy and are at the forefront of some serious mega trends. 

These companies literally build and service our everyday lives. 

After 17 years of no progress, the iShares Global Infrastructure ETF $IGF is now challenging its pre-financial crisis highs as buyers work to complete a massive base.

This ETF holds a well-diversified basket of stocks, offering exposure across three primary sectors: utilities (40.4%), industrials—including transportation (38.6%), and energy (21%).

If IGF can break above its former highs around $52, the path of least resistance points higher, paving the way for a fresh leg up in these groups of stocks.

Alfonso

Bitcoin broke out of a multi-year base back in November and surged rapidly from $70K to $100K, hitting my initial target in a matter of days.

Fast forward to today, and it has been consolidating within a tight range, digesting gains just below the key psychological level of $100K. 

This level is also the 161.8% Fibonacci extension from the 2022 bear market.

Earlier this week, BTC quickly dipped below support and then reclaimed it, trapping the bears as price reversed higher. It’s booked several bullish follow-through days since.

With the bulls proving themselves and BTC above $100K, I think a fresh leg higher could be around the corner.

The next target is around $155K.

See you there.

For the market to experience a meaningful correction, we need to see clear signs of defensive rotation—and so far, that hasn’t happened.

In the bond market, U.S. Treasuries are viewed as the defensive play, especially compared to their High Yield counterparts. 

It’s the same concept in equities when you compare Consumer Staples to the broader S&P 500. If the environment favors risk-taking, both Treasuries and Staples should underperform.

Overlaying the Treasuries versus High-Yield ratio (IEI/HYG) with the Staple vs S&P 500 ratio (XLP/SPY), you’ll notice they move in the same direction.

Currently, both are trending lower and making new lows, signaling no defensive positioning from bond or equity investors.

As long as these lines keep trending down and to the right, there’s nothing to worry about for risk assets. But if they start to turn higher, that would be a key warning sign of trouble ahead, potentially...

Whenever the market enters a corrective wave, regardless of the magnitude and time, section rotation comes into play.

While we haven't seen any signs of defensive rotation yet, there's movement beneath the surface worth paying attention to.

The chart of the equal-weighted S&P 500 $RSP relative to the market-cap-weighted S&P 500 $SPY can provide valuable insights. 

It gives us a read on future leadership trends and helps guide how we position ourselves in various vehicles and themes.

The SPY is dominated by mega-cap tech stocks, while RSP, with its equal-weight structure, provides a broader market picture with greater exposure to cyclical sectors like Industrials, Materials, and Financials.

The RSP/SPY ratio is currently testing a key support level that was last seen during...

The market’s been a hot mess this past month. Failed breakouts are piling up, with prices slipping back into their ranges and falling below key overhead supply zones.

Beneath the surface, the average drawdown for S&P 500 stocks stands at 18.2%, and the weakness is spreading across major sectors and industry group indexes.

It began with lagging areas like metals and mining, which have already rolled over, and now, groups such as banks are breaking below their prior cycle highs.

Let’s break down the choppy action and highlight the struggles across various groups to hold their breakouts.

Let’s start with the Equal-Weight Consumer Discretionary $RSPD:

One of the most important...

The market of stocks has been a chop fest for the past month, prompting me to keep a close eye on market internals.

While trends in the major indexes remain unaffected, short-term weakness has been steadily creeping in beneath the surface.

The average 52-week drawdown of S&P 500 stocks has reached -18.2%. This means the average stock is experiencing its sharpest decline in over a year.

This kind of internal weakness begs the question of whether this is just a standard corrective wave within an ongoing bull market? Or are we witnessing the start of something more consequential, and even deeper drawdowns are ahead?

While there’s no need for alarm just yet, it’s crucial to stay mindful of how market participation is shifting.

While the uptrends in the major indexes are holding up well, it's been a tale of mixed signals beneath the surface.

Some sectors and groups are showing strength, while others continue to lag behind.

Banks, for that matter, are an important piece of the puzzle. They are the backbone of the financial sector. They are some of the most important businesses for the US and global economy. 

How bank stocks perform gives us a good read on where the broader market is headed.

The SPDR S&P Banks ETF $KBE took a shot at breaking out of this monster base following November’s election. This marks the second attempt at reclaiming its pre-GFC highs in the past few years.

But here we are today...