Technical Strategy Video (Recorded Monday, November 8th):

The video in this report is only accessible to members
The video in this report is only accessible to members

Key Takeaways

  • Equity indices still showing no evidence of reversal; However, breadth has been flat lately and VIX higher by 14% over the last three trading sessions. Until evidence of Tech, Financials and Healthcare turn lower, it’s right to still favor additional gains
  • Cannabis names look ripe to bounce sharply in the next 3-6 months after stock price performance literally has “gone up in smoke” for most of 2021
  • Materials sector can be favored for outperformance, as relative strength has surged in the last week and the group came close to hitting all-time highs Monday
  • Bitcoin likely to show better relative strength into late November after Monday’s gains

Equal-weighted Value Line Geometric Composite just pushed back to new all-time highs a couple weeks ago, showing a bullish albeit less overbought picture as the SPX or NDX.

The video in this report is only accessible to members

Cannabis issues likely to start to gain momentum after sharp rally on Monday

This entire group has been very hard hit for most of the year, and even after Monday’s gains, remains down more than 55% off peaks made nine months ago in February.

Reasons for optimism now are Three-fold. Firs...

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