Matt Maley

A break above 4,300 on the S&P would be VERY bullish, but since this is not a fundamentally based rally, a breakout is not a lock by any means.

Even the stocks of great companies see pullbacks/corrections when they become expensive and overbought. In fact, it’s normal and healthy when they do. APPL could be due for one if it closes below a certain level this week.

We also highlighted the consumer staples group as one that is very oversold and poised for a nice rally. Thus, it’s a group that investors should not ignore…especially if they’re worried about how long the current stock market rally will last.

Since everybody is talking about the employment report this morning, we thought we’d be a little different and touch on the energy stocks. This weekend’s OPEC+ meeting is going to be very important…because the energy sector stands at a key technical juncture.

As we learned in the late 1990s...and with TSLA and Bitcoin more recently...even the biggest rallies see substantial pullbacks along the way.