Arguably, the markets have been pricing in sort of a Goldilocks scenario with the Fed rate cut cycle and an outlook for economic conditions going into next year.

And you can see that just by the returns we've seen by the S&P and the NASDAQ year to date.

But you've also seen areas of the market like gold, like cryptocurrencies that have actually been quite strong in recent months and in many

cases through the course of 2024. I think coming out of the elections now that we can sort of

take a deep breath and reflect on what's happened, you're certainly seeing areas of the market

showing more strength than others. And I would see... In Kim's absence this week, instead of typical Wall Street lunch, Dave Keller,

welcome to seeking alpha investors who may know you from your YouTube channel, who may know you from the mindful investor.

Talk to us a little bit more deeply and intricately about the trends that you're seeing now.

What would you highlight for investors?

Well, I think the world going into the election season now and the world kind of coming out,

obviously very different in a lot of ways. Arguably, the markets have been pricing in sort of a

goldilocks scenario with the Fed rate cut cycle and an outlook for economic conditions going into

next year. And you can see that just by the returns we've seen

by the S&P and the NASDAQ year to date. But you've also seen areas of the market like gold,

like cryptocurrencies that have actually been quite strong in recent months and in many cases

through the course of 2024. I think coming out of the elections now that we can sort of

take a deep breath and reflect on what's happened, you're certainly seeing areas of the market showing more strength than others. And I would say a lot of charts that I look at have all had that gap higher last week. Sort of coming out of the election is a Trump presidency and to the degree that we saw, the elections tilted in Trump's favor.

You're certainly seeing certain areas of the market showing remarkable, remarkable strength.

I would say with the averages overall, looking at the S&P and the NASDAQ, by any technical definition,

they're pretty overextended, right? And the gap higher that you saw last week has really been, you know,

really magnified how strong of a year it's been, which as a contrarian, the contrarian hat that I have

says at some point you have tactical pullbacks to sort of alleviate those overextended,

...