$BTC - Bitcoin is viewed as a cyclical asset similar to commodities, serving as protection against monetary debasement.
$VOL - A shift from shorting volatility to going long volatility is seen as a major macro theme, contrasting with historical trends.
$IWM - Small caps (IWM) are outperforming tech stocks, showing significant strength in the market.
$SPACE - There's a renewed interest in space exploration and innovation, suggesting potential growth in space-related stocks.
$BANKS - Banks are performing strongly as part of a broader market rotation.
Bearish:
$TLT - Traditional fixed income investments, particularly treasuries, are seen as overvalued in the current inflationary environment.
$MAG7 - The 'Magnificent Seven' tech stocks are underperforming relative to small caps, indicating a market rotation away from these large tech companies.