There was little need to discuss the latest bullish developments for the broader market, as the individual setups painted a clear picture of continued breadth expansion.
If you missed it, be sure to check it out. And if you want to see what a bull market slide deck looks like, it's right here.
We're seeing growth stocks resolve higher from bearish-to-bullish reversal patterns. More and more small caps are popping up with new highs. And the strongest value and cyclical stocks that have been leading for years are breaking out to new record highs.
We're buying all of them.
Today, we have two financials and one industrial name. They're all making new all-time highs. Let's take a look.
In case I haven't been obnoxious enough, we are in the early stages of a new bull market.
I cannot be more clear about this. I feel it in my bones.
Today, the Fed had their first meeting of the year, and did exactly what everyone thought they would do. The market flew straight into rally mode as soon as the press conference began. There were no surprises.
This is because, very much unlike 2022, the path of least resistance for risk assets is now higher.
We're seeing risk-on action characterize the tape on a regular basis.
Breakouts are sticking. The list of new highs is growing longer and longer. Meanwhile, new lows are almost non-existent, and the breakdowns from December have failed and followed through higher.
It's all bull market stuff.
Along the same lines, we're seeing more and more stocks offer bullish chart setups that we want to be buying. And we're entertaining all of them.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Risk appetite is returning to markets as breadth expands beneath the surface for US and international equities.
Insiders are getting more active and more aggressive, and the number of bullish opportunities from our Inside Scoop universe continues to increase gradually.
We think the coming months and quarters will be a favorable environment for those looking to buy stocks.
With that said, we have a handful of bullish setups today. Let's dive right in.