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The tape is still mixed. Tech-sector stocks and cryptocurrency look good – I like it – and they could well lead stocks to new all-time highs in the weeks ahead.
Utility stocks seem to have snuffed out any strength in bonds, and if rates keep falling, we could see a boost in the two worst-performing S&P 500 sectors this year: real estate and consumer discretionaries. A nice comeback there wouldn’t surprise me.
Energy-sector stocks and bonds do not look good, though. There’s an ominous warning there, and we’ll talk about that and more right now…
