Topley's Top 10 - December 18, 2023

1. QQQ New Highs.

2. Net Speculative Positions in QQQ

@Callum Thomas (Weekly S&P500 #ChartStorm)All-in on AI: Speculators have been stampeding into tech stocks. The combination of AI hype, passive flows favoring the big end of town, and the prospect of peak rates has powered up speculative fervor.

Source: @MPelletierCIO

3. Micro-Cap Stocks +25% Bounce Off Bottom

IWC Micro-Cap ETF bounce but 4 Lower Lows in a Row…Long Way to Go.

4. Massive Surge of Inflows into Smallcap Last Week.

Dave Lutz Jones Trading The End of Last Week saw massive inflows into US Smallcap Value Names, with KRE (Regional Banks) up 10%

5. More than Tech Now Rallying-80% of Names Above 200-Day

Equities: Market breadth has improved dramatically. Here is the percentage of S&P 500 stocks trading above their 200-day moving average.

Source: The Daily Shot

6. 72% of Large Firms Had Cyber Attack this Year

Barrons Attacks have become a fact of corporate life. An estimated 72% of firms with annual revenue over $5 billion were attacked in the past year, according to Sophos, a cybersecurity software firm. The number of attacks in the third quarter was up 95% from a year earlier, says cyber specialty insurer Corvus. Hackers could reap $1 billion in ransoms this year, more than the years 2018 through 2020 combined, according to estimates from crypto data firm Chainalysis.