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The markets continue to ramp higher.

I see a lot of chatter on how this can’t continue. The sentiment is too bullish, cash positions are low, fear and greed indicators are euphoric…

Of course the market can turn at any moment, but using sentiment signals to call for a top is a waste of time. These same signals do work a little better in spotting bottoms. In December of last year all the sentiment readings were the exact opposite and screaming panic, which did lead to a great bottom for this run in 2019.

Tesla, Microsoft, Amgen, JP Morgan, Apple, Nike…pretty much all time highs across all industries.

Of course there are losers. Fedex has been obliterated. Partly due to Amazon and partly their own mistakes of using the gift money from reduced taxes to buy back stock instead of building features and product to compete with Amazon.

Fedex is a Fedex problem. Take a look at the Russel 3000 Index of Shippers which recently broke out to all-time highs.

Ivanhoff and I cover all this and more with some fresh ideas in this week’s Momentum Monday which you can watch/listen here.

I hope you enjoy and have a great week.

PS – Stocktwits put together a ‘Charts of The Decade‘ which is a great resource for learning about spotting big winners.