Republic Risk: S&P 5,500?
The melt-up continues as liquidity remains strong and negative catalysts aren't appearing.
Equity Storm Watch Is GREEN on the S&P 500 and YELLOW on the Russell 2000
Here we are at 5,100 on the S&P 500. How did that happen? Well, NVIDIA sells chips and is now worth more than the entire energy sector. We are NOT in a logical place, but recall that liquidity is strong, momentum is strong (indicies are well above their 20-day moving average), and there’s VERY little value in the equity markets. So, we have to start looking for special situations as they emerge. Our February pick Tower Semiconductor (TSEM) is up 16% this month. Let’s see what rabbit we can pull from our hat on Friday.
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