18 New Highs to Remind You - It's a Bull Market

It's hard to prepare for a bear market when we're hitting all time highs! Should I pack a snow jacket for July in Arizona? Be smart, trust the temperature and trust price action. Higher we go!

Author

Bootleg Macro
January 28, 2024

Well… this might be coming in a tad behind schedule ⏱️, but let's be real - this market’s wild swings 📈🎢 are handing out second chances like candy 🍬! So here's the million-dollar question 💰: How on earth do we brace for a bear market 🐻 when we're busy setting off fireworks 🎆 with all-time highs?" 🚀🤔

Nasdaq was up 0.94%, S&P500 was up 1.06% and DJIA was up 0.65% for the week. We are hitting or flirting with all-time-highs in all 3 indexes.

Alright, bear buddies 🐻, let's try to square this circle 🔵⬜. We're blasting off 🚀 to escape velocity, and even the little guys (I'm looking at you, small caps) are in on the action. Keep an eye on $IWM; it's flirting with that enticing $200 mark. 🎯 And let's not forget, small caps have been the underdogs 🐕‍🦺.

Isn't it time we tip our hats 🎩 to the science of the markets? Sometimes, the only research we need is watching the price action 💹. The truth lies in the ticker, and folks, those numbers are climbing 📈.

So gear up 🧳 and raise a toast 🥂 to the grand finale of January 2024 – may the markets be ever in our favor!

- Dustin

Market Performance

Roll out the green carpet 🌟—all indexes are up this week, keeping the bull market charging 🐂 since Halloween 2023 🎃 (or Christmas 2022 🎄 for the long-term visionaries). Trading's as easy as pie 🥧 right now.

Hitting a snag? Scoop up the front-runners 🏃‍♂️💨 and play the waiting game 🕰️—patience is key 🔑. I mean, who's been left in the red with NVDA or MSFT these last 6 months? That's right, no one! 🚫💸 So, there's no reason you should be the first.

The market's tossing out hints like confetti 🎉. Our strategy? Watch patiently 🧐, strike when the iron's hot 🔥, and rinse and repeat 🔄. With the VIX lounging below $15, we've got a tailwind that's smooth sailing ⛵.

Volatility Corner:

VIX / VVIX improved! Blue up is good, blue down is bad. The blue line has a HIGH CORRELATION to overall markets. We need to respect the possibility the blue line goes south again.

Get ready for a bit of a rollercoaster ride 🎢, folks! We've seen the VIX doing the jitterbug lately, but let's not treat it like some sort of crystal ball ⏳ for the market's moves.

A little shake-up doesn't mean we're off the rails. Volatility might just hang out at the 'new normal' high—no biggie. The magic word? Patience 🧘‍♂️. We've watched volatility take a dive over the last three weeks, and who says we can't cozy up to a chill sub-12 vibe? 📉

But hey, if the market decides to throw a month-end sale 🛍️, that's our ticket to hop on the bull market express 🐂.

So, let's keep our eyes peeled 👀 and see what this week unfolds. Stay alert, stay smart, and let the market do the talking!" 🗣️📈

MACRO INDICATOR:

This is currently flashing bearish for the macro view too. We must be aware but still follow price.

  • MACRO SEASON: BULLISH Since 12/2/22🟢

  • MICRO WEATHER: BEARISH Since 7/27/23🛑

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New Highs $5-$20:

  1. TK - Teekay Corporation - Energy - Oil & Gas Midstream - 🇧🇲

  2. CLBT - ClearBridge All Cap Growth ETF - (Industry not applicable for ETFs) - 🇺🇸

  3. NU - Nu Holdings Ltd. - Financial - Software—Infrastructure - 🇧🇷

  4. FUSN - Fusion Pharmaceuticals Inc. - Healthcare - Biotechnology - 🇺🇸

  5. PAGP - Plains GP Holdings - Energy - Oil & Gas Midstream - 🇺🇸

  6. PBR - Petrobras - Energy - Oil & Gas Integrated - 🇧🇷

  7. AKR - Acadia Realty Trust - Real Estate - REIT - Retail - 🇺🇸

  8. MTG - MGIC Investment Corp - Financial - Mortgage Finance - 🇺🇸

TK - Teekay Corporation - Energy - Oil & Gas Midstream - 🇧🇲

CLBT - ClearBridge All Cap Growth ETF - 🇺🇸

NU - Nu Holdings Ltd. - Financial - Software—Infrastructure - 🇧🇷

FUSN - Fusion Pharmaceuticals Inc. - Healthcare - Biotechnology - 🇺🇸

PAGP - Plains GP Holdings - Energy - Oil & Gas Midstream - 🇺🇸

PBR - Petrobras - Energy - Oil & Gas Integrated - 🇧🇷

AKR - Acadia Realty Trust - Real Estate - REIT - Retail - 🇺🇸

MTG - MGIC Investment Corp - Financial - Mortgage Finance - 🇺🇸

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New Highs $20+:

  1. AMZN - Amazon - Consumer Cyclical - Internet Retail - 🇺🇸

  2. META - Meta Platforms Inc. - Communication Services - Internet Content & Information - 🇺🇸

  3. AXP - American Express - Financial Services - Credit Services - 🇺🇸

  4. KKR - KKR & Co. Inc. - Financial Services - Asset Management - 🇺🇸

  5. NRG - NRG Energy, Inc. - Utilities - Independent Power Producers - 🇺🇸

  6. RSG - Republic Services, Inc. - Industrials - Waste Management - 🇺🇸

  7. ROST - Ross Stores, Inc. - Consumer Cyclical - Apparel Retail - 🇺🇸

  8. HLT - Hilton Worldwide Holdings Inc. - Consumer Cyclical - Lodging - 🇺🇸

  9. EYPT - EyePoint Pharmaceuticals, Inc. - Healthcare - Biotechnology - 🇺🇸

  10. ENVA - Enova International, Inc. - Financial Services - Credit Services - 🇺🇸

AMZN - Amazon - Consumer Cyclical - Internet Retail - 🇺🇸

META - Meta Platforms Inc. - Communication Services - Internet Content & Information - 🇺🇸

AXP - American Express - Financial Services - Credit Services - 🇺🇸

KKR - KKR & Co. Inc. - Financial Services - Asset Management - 🇺🇸

NRG - NRG Energy, Inc. - Utilities - Independent Power Producers - 🇺🇸

RSG - Republic Services, Inc. - Industrials - Waste Management - 🇺🇸

ROST - Ross Stores, Inc. - Consumer Cyclical - Apparel Retail - 🇺🇸

HLT - Hilton Worldwide Holdings Inc. - Consumer Cyclical - Lodging - 🇺🇸

EYPT - EyePoint Pharmaceuticals, Inc. - Healthcare - Biotechnology - 🇺🇸

ENVA - Enova International, Inc. - Financial Services - Credit Services - 🇺🇸

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