It's another week of green for large and growth factors, with the Large Cap Growth ETF $IWF at the top of the table.

Zooming out, the trend is still favoring large caps over small caps. This is shown below as a ratio. There's no signs this trend is shifting yet.

We're at an important inflection point with a new administration, which can mark key reversals across investment themes.

For a deeper look at our thoughts about the new Trump administration and how it could impact markets, watch our Inauguration Day Special livestream replay by clicking here.

There is a selection of international ETFs that have been consistently green over the trailing quarter.

China is one of them.

After accelerating higher, the iShares China Large Cap ETF $FXI has been consolidating its gains. However, what captures our attention is that the ETF has failed to break down and is now back above support. This is positive to see.

A big element the market is pricing in here is how a Trump administration will impact the Chinese economy. At 2pm ET today, JC is hosting an Inauguration livestream to discuss Trump's effect on the markets.

You can click here to tune in.

Energy has clearly been on a tear in recent weeks, bouncing from oversold conditions. The energy sector has not broken out and is still rangebound, so until that breakout takes place, we do have to lean on the side of caution for now following this rally.

But we're beginning to see a handful of industry groups within the sector begin transitioning to green.

Interestingly, MLPs have been a clear area of outperformance as indicated by the long stretch of green while the other groups have been red.

Just like the eSport stocks we covered yesterday and these MLPs today, there are so many opportunities under the hood.

We discuss exactly that in our intimate Portfolio Accelerator events. The entire team will be getting together in a few weeks and access is invitation only. If you want in, you can apply to join here.

A standout on the thematic side has been VanEck's Video Gaming & eSports ETF $ESPO.

This isn't a recent trend as well, it's been a significant winner since it launched and it just broke out to new all time highs.

Like eSports, the reason I love diving into these thematic ETFs is that they offer a wide selection of hidden opportunities away from the mainstream. And often, these opportunities with a small number of eyeballs can be the most lucrative.

That's exactly what we try to achieve at our Portfolio Accelerator events. The whole team will be in New York in a few weeks to talk markets and trades. It's an incredibly intimate group so spots are limited.

If you want to get in on the action, you can apply to join our Portfolio Accelerator group here and hang out with us in New York.

Sector rotation is the lifeblood of a bull market.

We're seeing Small Cap Financials $PSCF begin to weaken to red while the other financial ETFs are still green.

It's positive to see that despite this recent weakness in financials, the Large Cap ETF $XLF has failed to hold its breakdown and is back above support.

This is a key theme right now, where breakdowns are failing. Of course, this is positive information for bulls.

If we're in the context of a bull market, it wouldn't be surprising to see all these rotations under the surface.

An area that needs to be discussed are commodities. We're in a super cycle and there's plenty of areas to profit. JC and Jason Perz discussed exactly this in a brief video, it's got a bunch of great insights.

You can watch it by clicking here....

Large Cap Growth is still the predominate theme of leadership right now. No changes here.

The most notable shift has been the S&P 500 $SPY breaking below this key level of support. SPY must reclaim 585 to repair the recent damages.

It's certainly hasn't been a great start to the month, which carries a wide set of implications for the rest of the year.

JC just shared his brief chat with Jeff Hirsch explaining what this price action means, it's a fantastic video. You can watch that here.

Here's how things stand on the global equity stage right now.

A development that is front and center is the increasing number of countries breaking down. Pictured below is the Vanguard FTSE Europe ETF $VGK which has just failed after retesting this broken support.

The trend is definitively down in Europe. This demands attention.

The next few weeks are the most critical time of year for investors in retail and consumer stocks, as companies report their results from the 2024 holiday season and set expectations for 2025.

Find out which retail stocks are best positioned right now in this free report from long-time retail analyst Jeff Macke. 

Get the report here. 

Last week we discussed how Retail $XRT is transitioning from red to green and this bullish development is still intact.
 

With the Retail ETF $XRT retesting this level of support, it would be a logical place for buyers to step back in.

The next few weeks are the most critical time of year for investors in retail and consumer stocks, as companies report their results from the 2024 holiday season and set expectations for 2025.

Find out which retail stocks are best positioned right now in this free report from long-time retail analyst Jeff Macke. 

Get the report here. 

There's no notable changes across our thematic universe, except for emerging/China technology, which has transitioned to red.

This is pictured below.
 

The China Technology ETF $CQQQ has broken below a key level of support.

We want to see this theme transition back to green and for this support to get reclaimed before getting overly bullish.

Take a look at Large Cap Technology $XLK—it’s made a bold move, flipping from red to green as it chews through that overhead supply at former resistance.
 

The tape’s telling us the breakout might take its sweet time, but when it happens, expect tech to light up in full-on green mode.

The big standout here is how growth is persistently green while value has been red.

Until this changes, it's difficult to be overweight value relative to growth.

Tracking the ratio between the Large Cap Growth ETF $IWF and Large Cap Value $IWD, it has just broken to new all time highs. This suggests growth could be setting up for further outperformance. 

We've been talking about the relentless strength out of Argentina $ARGT for months now. But an underdog on the global ETF stage right now is the United Arab Emirates $UAE.

On our Power Rankings score, it's actually stronger than the S&P 500 right now.

The big story here is energy. If crude oil begins working higher, as it's done over the last month, this is a significant tailwind for this ETF.