{"id":66192,"date":"2026-01-15T02:00:39","date_gmt":"2026-01-15T07:00:39","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=66192"},"modified":"2026-01-15T09:03:49","modified_gmt":"2026-01-15T14:03:49","slug":"market-trends-january-15","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2026\/01\/15\/market-trends-january-15\/","title":{"rendered":"Is the \u2018Growth\u2019 Trade Finally Over?"},"content":{"rendered":"<p>Downloads are available\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-Public-Materials-October-2025.zip?_gl=1*k1lnlz*_gcl_au*OTA0ODYwNzkwLjE3NTYxNTQ1MzY.\">here<\/a>. TradeStation\u2019s ideas on TradingView are\u00a0<a href=\"https:\/\/www.tradingview.com\/broker\/TradeStation\/publications-ideas\/\">available here<\/a>.<\/p>\n<h2>Sizing Up the Market<\/h2>\n<ul>\n<li>S&amp;P 500 holds 10\/29 close of 6,980<\/li>\n<li>Holds 21-day EMA<\/li>\n<li>Moving averages may reflect trend resumption, acceleration from consolidation<\/li>\n<li>9-day rate of change stays positive<\/li>\n<li>Intermarket conditions:\n<ul>\n<li>10-year Treasury yields stay below 4.25<\/li>\n<li>VIX stays below 20<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div id=\"attachment_66197\" style=\"width: 1930px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-66197\" class=\"wp-image-66197 size-full\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a.jpg\" alt=\"\" width=\"1920\" height=\"918\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a.jpg 1920w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20260114a-1080x516.jpg 1080w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><p id=\"caption-attachment-66197\" class=\"wp-caption-text\"><em>S&amp;P 500, daily chart, with select patterns and indictors.<\/em><\/p><\/div>\n<h2>The End of \u2018Growth?\u2019<\/h2>\n<ul>\n<li>2\/3 of S&amp;P 500 members up in 2026\n<ul>\n<li>GOOGL, AMZN are only megacap growth stocks positive on year<\/li>\n<\/ul>\n<\/li>\n<li>Software -5% this month after 9.9% drop in November (biggest monthly drop since April 2022 as bear market took hold).<\/li>\n<li>Communications index last made record high in Q3<\/li>\n<li>Noteworthy stocks without 52-week highs in the last 3 months:\n<ul>\n<li>MSFT META NFLX APP INTU ADBE FTNT ADSK PYPL WDAY<\/li>\n<\/ul>\n<\/li>\n<li>Software and Communications are both lagging the S&amp;P 500 in the last five years<\/li>\n<li>Software and Communications are classic \u201csecular\u201d (non-cyclical) growth groups.\n<ul>\n<li>High-multiple companies, especially those tied to subscription revenue model<\/li>\n<li>Subscription model has quietly been a backbone of tech stocks since ADBE adoption in 2012<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Upcoming Events<\/h2>\n<ul>\n<li>Fri 1\/16: NAHB housing index.\n<ul>\n<li>Earnings: STT PNC<\/li>\n<\/ul>\n<\/li>\n<li>Mon 1\/19: MLK day: Markets Closed<\/li>\n<li>Tue 1\/20:\n<ul>\n<li>Earnings: MMM DHI | NFLX UAL<\/li>\n<\/ul>\n<\/li>\n<li>Wed 1\/21: Housing starts, Lisa Cook hearing in Supreme Court\n<ul>\n<li>Earnings: JNJ HAL<\/li>\n<\/ul>\n<\/li>\n<li>Thu 1\/22: Jobless claims, crude-oil inventories\n<ul>\n<li>Earnings: GE FCX PG<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Software and communication stocks have been sliding as value names break out.<\/p>\n","protected":false},"author":39,"featured_media":63321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1276,13],"tags":[],"class_list":["post-66192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","category-stocks","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is the \u2018Growth\u2019 Trade Finally Over?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. 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