Cannabis Stocks look right to favor for bounce into 2022; Bitcoin breaks out again

Technical Strategy Video (Recorded Monday, November 8th):

Key Takeaways

  • Equity indices still showing no evidence of reversal; However, breadth has been flat lately and VIX higher by 14% over the last three trading sessions. Until evidence of Tech, Financials and Healthcare turn lower, it’s right to still favor additional gains
  • Cannabis names look ripe to bounce sharply in the next 3-6 months after stock price performance literally has “gone up in smoke” for most of 2021
  • Materials sector can be favored for outperformance, as relative strength has surged in the last week and the group came close to hitting all-time highs Monday
  • Bitcoin likely to show better relative strength into late November after Monday’s gains
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