What Sectors will be the New Market Drivers…
At the moment the market is struggling with direction because it has little clue as to what sectors and companies are the Market Drivers? The old funny money consumer stocks still dominate trading and investing, stuff that worked in the bubble, even though their significance and impact are slowly dwindling. I see this as a big factor keeping a lid on a looming bull market, few know what the coming leaders will be, and as such, way too much money and energy are pushing into safe sectors and stocks.
As this unfolds I still am a believer in a new bull market. It takes a lot of patience and the courage to go up all the overhang, against the FED, the large hedge funds, and the connected elite large traders, not to mention a bunch of economists. Just take the first quarter’s GDPNOW numbers, the last estimate came out today, 2.5%. At the beginning of the quarter the blue chip economists consensus estimate was – 0.3 %.
Over the coming month we will drill down into this issue.