Mid-week market update: About a month ago, I warned that the market was undergoing a regime shift from growth to value (see What would Bob Farrell say?) and compared today's Big Tech momentum stocks, not to the dot-com mania, but the Nifty Fifty era. On the weekend, I rhetorically asked in a tweet that if Bloomberg TV has to explain r/WSB lingo to its audience, it's probably a sign that speculative momentum was nearing the end of its run.
It finally happened this week. The MoMo (momentum) crowd is losing its mojo. The price momentum factor, however it's measured, is undergoing a sharp correction.
Here is what that means for the stock market.
The full post can be found here.
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