Today, we’re finally putting in a nice bounce after multiple tests of the 4,500 level for the S&P 500 (SPY). Based on reports from South Africa, it’s seeming like the omicron variant is very contagious but less lethal. Previously, we discussed the bullish stats and setup for an end-of year, melt-up type rally. Ironically, the recent washout in the markets has only made this setup even more appetizing due to positioning and sentiment getting even more bearish. This week’s commentary will focus on this and our year-end playbook. Then, a quick look at the parts of the market which excite me the most. Read on below to find out more….(Please enjoy this updated version of my weekly commentary published December 6th, 2021 from the POWR Growth newsletter).
First, let’s do the usual review of the past week:
A lot of volatility and a lot of drama. But, overall, we are down a bit more than 1% over the past week.