Not the best look for growth when the Naz continually is rejected at resistance while defensive stocks (like consumer staples, $XLP) roar ahead. Maybe some of that is January shenanigans/rotation, but it is what it is for now.

Call buying bonanza again in commodity stocks. Today's focus, Oil $DVN $PR $OXY $SLB

For the first time since 2024, almost 70% of NYSE stocks are above their 200 day moving average. Similar historical instances of broadening breadth saw $SPX higher each time 9-12 months later, with an average 1 year gain of 17% h/t Ryan Detrick, CMT J.C. Parets

Cabot Top Ten subscribers: If you own Penumbra $PEN from the mid-December recommendation, probably worth booking the profit on today's buyout

Fickle group, but option activity has been pointing to this move higher in Oil stocks for weeks. $XLE $XOM $HAL $DVN

$MTSI $TTMI two names that showed huge-volume accumulation early this year, also both showing good support so far during the market dip and after earnings last night/this morning

Puts ramping in leading Semiconductors and Tech into the close. $AVGO $TSM $ORCL $SMH (though out-of-the-money puts, so it feels like cheap hedges)

This week on Street Check, we discuss the ongoing market weakness, the latest jobs and inflation figures, AI-related Super Bowl ads signaling a top, strength in Japanese stocks following the elections & EV-related write-offs by automakers. $TM Watch here: hubs.ly/Q0432r720

Beat them at their own sport!

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Amazing the number of liquid growth names, including some former leaders, that are down at least 33% from their highs and south of their 200-day lines $RDDT $HOOD $NET $SNOW $TOST $CRDO $ALAB $CRWD $ZS $BROS $ALNY Still some solid names of course, but tons of land mines

I do find it interesting that despite its size and the stock's stagnation, $NVDA now has seen sales and earnings growth accelerate each of the past two quarters--with estimates expecting more acceleration in the current quarter

Who knows how it will end up, but the "old trader" in me does not love seeing $GS $MS $C $JEF $AXP all getting hit hard today.

Mike Cintolo joined us on today's Street Check to discuss the 4-month downturn in growth stocks and why Iran-fueled market weakness could be one last shakeout before they get going again. We also talked the bad jobs report, $COST and $NFLX dodging a bullet bit.ly/4uwCBZJ

Very small green shoot: Interesting to see the Naz outperform $XLP since the missiles began flying, which has nudged our Aggression Index higher. Same goes for the equal-weight Naz 100 vs $XLP, too. Still a ways to go on this indicator, but it's a start.

Join me at 2 pm ET today for my FREE investing webinar, "2 Little-Known Stocks Every Investor Should Own". I'll talk about the current market, what I think happens next, how to play it and reveal 2 of my favorite stocks. See you there. Come with questions! bit.ly/4sdOOks

This week on Street Check, we discuss cybersecurity stocks, Iran, whether to chase or fade energy stocks, and the latest inflation report. Then, we take a critical look at Oracle’s earnings and talk our favorite Oscar-nominated films of 2025. $ORCL hubs.ly/Q046LN2P0