I use TC2000 to analyze the markets and what you are looking at are its list of the top sectors of the market, ranked by performance, since the market gap down VIX spike bottom earlier this month.

The red is just yesterday’s price action.

Notice on this list are several REIT sectors, drugs, and utilities, along with gold and silver.

These are all DEFENSIVE sectors.

So, while, it is true that NVDA and the Nasdaq have put on a powerful rebound since that market low, much of the market the leadership is still in the defensive sectors a few weeks after that low has been put in.

Specialty finance is at the top, that is another sector that benefits when interest rates are reduced.

Jerome Powell speaks today and the market finally had a down day yesterday, I’m guessing in the realization that while he will indeed talk about interest rate cuts, he’s not going to talk about a 50 point cut in September or the type of rate cuts going out to next year that the Fed Fund futures market is pricing in and so many stock market bulls want to see.

He’s going to a bit more cautious on making predictions about what will happen after the September meeting than people want.

Yesterday’s down day means nothing.

The markets have been going straight up and can’t do that every single day.

An interest rate cut is coming in September ahead of the election no matter what and probably two more before the end of the year.

No matter if you are seasoned in these markets or brand new, you are likely doing better this year than the world’s biggest crypto guru, Cathie Wood.

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And…..

So what is in the specialty finance group?

It’s companies like Rocket Companies.

The company uses apps to attract customers that it then offers loans and mortgages too - Rocket Mortgages.

-Mike

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