It's standing room only at this latest rally

Participation is off the charts. You are receiving this email because you signed up to receive emails from True Market Insiders, rebranding to Sector Edge. [Unsubscribe here]( Keep the emails you value from falling into your spam folder. [Whitelist True Market Insiders](. Forgot your login information? Click [here](. [Image] Weekly Market Update Today is February 17, 2023 Hello and Happy Friday! Last week the theme was: The markets usually see a “hangover” in February as stocks retreat from the overbought levels they achieved in January. Costas Bocelli even told you what to do [if you missed the January tear, and had stocks in your portfolio](. Bill Spencer Editor-In-Chief True Market Insiders And if you don’t own stocks? And you’re worried about buying back in at a near-term top? [Costas has you covered in that situation as well](. Just yesterday he sent out a way for you to collect income while enjoying the opportunity to buy your favorite stocks at discounted prices. In any case, the February hangover is proving to be a mild one. Here’s how the major averages have performed so far this month, as of intraday on February 16th. With the exception of the mega-cap Dow Jones, all the averages are in the black. And even the Dow is only down a third of one percent. There are other signs that the bull is getting stronger. Below are two identical screen captures of the Sector Relative Strength Matrix. Both are taken from [our brand new website]( from the revamped and turbo-boosted version of Sector Prophets Pro. In the first image we see that within the top 10 of the 45 market sectors we track, three are technology-related. They are: Software (#1)... Computers (#6) and Semiconductors (#10). This is significant, as Technology is widely considered to be a “risk on” broad sector. In the second image we see that, also within the top 10, three of the groups are also classic “risk on” sectors. They are: Restaurants (#2)... Buildings (#5)... and Leisure (#7). Putting those two images together, we find that five of the top seven strongest industry groups are all the sectors institutions buy when they’re feeling greedy as opposed to fearful.   Watch Chris Rowe’s Video Right [Here]( Right [Now](   There’s more… When we look at our “granddaddy” of all technical indicators, the New York Stock Exchange Bullish Percent Index (NYSE BPI), we see something notable. The chart is currently in a column of X’s, which you can see highlighted at the far right. This tells us that the market is strong over the short term. But what’s really important is the height of that current column. The height of a column is a gauge of the level of participation in a market rally. And as you can see if you follow the black dotted line to the left, we haven’t seen this level of participation in a rally since March of last year. (I was discussing this on Tuesday with Chris Rowe and Costas on our weekly “[Tuesday Morning Quarterbacks]( video.) When we look at the BPI charts for our small-cap proxies – the Russell 2000 and the S&P 600 – we see even greater levels of participation. You’ve heard us say before, small-cap stocks tend to lead the large-caps. So this level of participation in small-caps is a very bullish indication. We have to go back to November of 2021 to find the last time we saw this many small-cap stocks participating in a market rally. For the S&P 600 it’s even more dramatic. The last time we saw this level of participation was back in April, 2021. We said earlier that Technology is considered a “risk on” sector. In fact, the recent bear market began in late February 2021 when Tech began selling off and institutions began feeling more fearful and less greedy. Here’s the BPI for the tech-heavy Nasdaq Composite. We’re seeing a level of participation with tech that we haven’t seen since November of 2021. To paraphrase Gordon Gekko in Wall Street, “Risk on is good.” ******************************************************* For a Limited Time Chris Rowe is now accepting new members into Sector Prophets, [our premier sector research and data platform](. This special arrangement will include twice-weekly LIVE mentoring sessions by Chris. He'll open up his trading account and share his ideas with you in real time. Act now so [don’t miss the opportunity of a lifetime>>]( ******************************************************* Thank you as always for your time and attention. Have a great week, Bill Spencer Editor-in-Chief, True Market Insiders   [Here’s Your Shot at the Next 50x in Crypto]( [Here’s a Potential 66% Gain PLUS a Dividend]( [What Do Support and Resistance REALLY Mean?](   [True Market Insiders' Portfolio Track Record] You can [change your preferences here]( DISCLAIMER ©2023 by True Market Insiders, LLC, Protected by copyright laws of the United States and international treaties. 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