Editor’s note: Today, we’re doing something a little different and giving you a behind-the-scenes look at Justin’s latest Express Trader issue.

The market is starting to show real signs of a turnaround after the recent pullback. So we wanted to share where strength is showing up—and where money is flowing right now.

Here’s Justin…

***

Bulls answered the call. 

Last week, I explained how the market was showing signs of improvement. But it still had tons of work to do. 

Specifically, I wanted to see oil and volatility come down. Both of those things have happened since the last issue. 

Oil has dropped 19% over five sessions on war de-escalation headlines. At the same time, the Volatility Index (VIX) has plummeted 43% over the past couple weeks. 

We’ve also seen money pour into the market’s most important groups.

Remember that chart of the Technology ETF (XLK) that I shared last week?

XLK was working on a false breakdown pattern. 

Since that issue, tech has seen explosive continuation to the upside. XLK is now trading firmly above its 50-day moving average. 

Semiconductors have been a huge reason for this…

The chart below shows the performance of the Semiconductor ETF (SMH). SMH has surged 16% since the start of the month. It’s now trading at all-time highs. 

And it’s not like one or two mega-cap semi names are behind this move. Tons of semis are working well. 

Take a look at this chart. It shows the performance of the Equal Weight Semiconductor ETF (XSD).

This tells me that breadth is strong. That’s exactly what we want to see from the market’s most important group.

Of course, tech isn’t the only sector participating. 

Financials, industrials, and consumer discretionary stocks are also coming off big weeks.

We’re even seeing a strong bid for small caps. The iShares Russell 2000 ETF (IWM) has rallied 11% over the past two weeks. It’s now trading at its highest level since February. 

In short, the market has flipped back to “risk on” in a big way. The PRO Meter is confirming this. It’s rallied 8% over the past two weeks and is now firmly above its eight-week moving average.

Justin Spittler Chief Trader, RiskHedge

PS: With the market moving back to “risk on,” Justin just added two new trades in Express Trader. One is a major artificial intelligence name setting up for its next move higher… and the other is a leader in a fast-moving tech group.

You can find all the details on how to sign up for Express Trader here. When you join, you’ll get access to Justin’s latest trades—plus his weekly market analysis.