<p>上週的緊張情緒在金屬市場看來是短暫的……宏觀和盈利主導市場</p>
<p>![](https://substackcdn.com/image/fetch/$s_! 1U1O!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F68ab7915-cb84-43d8-9bfa-006e9b053a2d_1338x758.png)</p>
<p>週一買盤強勁迴歸，使標普 500 指數創下新高，儘管羅素 2000 指數的賣壓仍然潛伏在表面之下。我們現在正重新進入一個強勢期，整體的逢低買入仍在繼續。</p>
<p>中央銀行和政策行動的持續支持幫助市場在對銀行儲備、回購問題和地緣政治緊張局勢的擔憂中保持穩定。隨着納斯達克迴歸風險和反轉可能性的平衡，很難讓標普 500 的頂尖表現者下滑。</p>
<p>市場的持續波動表現為特定行業的快速反應和劇烈反轉，隨後是</p>
<p>但我必須強調。從流動性角度來看，市場似乎在按預期運作。圍繞商品的投機仍然猖獗，尤其是在國家政策如新項目 Vault 倡議的支持下。</p>
<p>銀價飆升，銅價因中國供應增加的消息而反彈，美國現在正尋求加速其稀土戰略儲備。這將重新點燃關於格林蘭和委內瑞拉的討論。</p>
<p>與此同時，消費防禦類股票——通常在我們進入這些金融週期的後期時表現良好——在過去三個月中成為第三大表現最好的行業，超越了技術股和週期性股票，而後者通常與流動性週期的建立更為相關。</p>
<p>![](https://substackcdn.com/image/fetch/$s_! u_ks!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F974dbacb-626b-4bb5-8c3b-f93065f0b783_1058x376.png)</p>
<p>Finviz</p>
<p>僅供更新……</p>
<p>距離我們列出 2026 年強 F 評分、低 Graham 數和 20 日 EMA 的股票名單已經一個月。這是一個忙碌的分析月……所以我將在本月開始回顧這些股票和交易策略。Farm Partners (FPI) 和 Cal-Maine (CALM) 引領了這波行情。如果你持有 FPI，請注意該股票已進入超買水平……</p>
<p><em>(點擊圖片放大)</em></p>
<p>![](https://substackcdn.com/image/fetch/$s_! jND2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faa088724-8f66-4956-bade-eeddd6f06a20_1894x1032.png)</p>
<hr/>
<p><em>更多來自此作者的內容：</em></p>
<p>我與 StockTwits 關於黃金、白銀和貨幣政策的對話……</p>
<p>超級乾燥的美聯儲分析</p>
<p>本週末需考慮的圖表</p>

<p>樂觀情緒在貿易協議和 Palantir 的表現上升，儘管羅素 2000 指數面臨潛在的賣壓，標普 500 指數仍然創下新高。中央銀行的支持和政策行動在銀行和地緣政治擔憂中穩定了市場。白銀和銅等商品正在獲得關注，而消費防禦類股票的表現優於科技股和週期性股票。對 2026 年股票的審查正在進行中，Farm Partners 和 Cal-Maine 處於領先地位，儘管 FPI 目前已進入超買區域</p>

<p>Last week's jitters look short-lived on metals... macro and earnings dominate</p>
<div class="lb-trans"><p>上週的緊張情緒在金屬市場看來是短暫的……宏觀和盈利主導市場</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://substackcdn.com/image/fetch/$s_!1U1O!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F68ab7915-cb84-43d8-9bfa-006e9b053a2d_1338x758.png" alt="" original-src="https://substackcdn.com/image/fetch/$s_!1U1O!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F68ab7915-cb84-43d8-9bfa-006e9b053a2d_1338x758.png"/></p>
<p>Strength in buying returned on Monday, bringing the S&amp;P 500 to new highs, although selling pressure in the Russell 2000 remains under the surface. We are now pushing back into a period of some strength, as dip-buying continues across the board.</p>
<div class="lb-trans"><p>週一買盤強勁迴歸，使標普 500 指數創下新高，儘管羅素 2000 指數的賣壓仍然潛伏在表面之下。我們現在正重新進入一個強勢期，整體的逢低買入仍在繼續。</p>
</div><p>The ongoing support from central banks and policy actions has helped steer markets amid concerns about banking reserves, repo issues, and geopolitical tensions. With the Nasdaq pulling back toward equilibrium on risk and reversion possibilities, it’s hard to keep the top performers on the S&amp;P 500 down.</p>
<div class="lb-trans"><p>中央銀行和政策行動的持續支持幫助市場在對銀行儲備、回購問題和地緣政治緊張局勢的擔憂中保持穩定。隨着納斯達克迴歸風險和反轉可能性的平衡，很難讓標普 500 的頂尖表現者下滑。</p>
</div><p>The ongoing yo-yo effect of markets has been quick reactions and sharp reversals in specific sectors, followed by the</p>
<div class="lb-trans"><p>市場的持續波動表現為特定行業的快速反應和劇烈反轉，隨後是</p>
</div><p>But I must stress. From a liquidity perspective, the markets appear to be behaving in line with expectations. Speculation around commodities remains rampant, especially when backed by national policy like the new Project Vault initiative.</p>
<div class="lb-trans"><p>但我必須強調。從流動性角度來看，市場似乎在按預期運作。圍繞商品的投機仍然猖獗，尤其是在國家政策如新項目 Vault 倡議的支持下。</p>
</div><p>Silver has surged, copper is bouncing on news of Chinese supply building, and the U.S. is now seeking to accelerate its own strategic reserves of rare earths. This will reignite conversations about Greenland and Venezuela.</p>
<div class="lb-trans"><p>銀價飆升，銅價因中國供應增加的消息而反彈，美國現在正尋求加速其稀土戰略儲備。這將重新點燃關於格林蘭和委內瑞拉的討論。</p>
</div><p>All the while, consumer defensive stocks - which typically start to do well as we move on the backside of these financial cycles - have been the third-best-performing sector over the last three months, outperforming technology and cyclicals, which are typically more aligned with the building of a liquidity cycle.</p>
<div class="lb-trans"><p>與此同時，消費防禦類股票——通常在我們進入這些金融週期的後期時表現良好——在過去三個月中成為第三大表現最好的行業，超越了技術股和週期性股票，而後者通常與流動性週期的建立更為相關。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://substackcdn.com/image/fetch/$s_!u_ks!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F974dbacb-626b-4bb5-8c3b-f93065f0b783_1058x376.png" alt="" original-src="https://substackcdn.com/image/fetch/$s_!u_ks!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F974dbacb-626b-4bb5-8c3b-f93065f0b783_1058x376.png"/></p>
<p>Finviz</p>
<div class="lb-trans"><p>Finviz</p>
</div><p>Just an Update…</p>
<div class="lb-trans"><p>僅供更新……</p>
</div><p>It’s been a month since we laid out a list of equities for 2026 with strong F scores, low Graham numbers, and the 20-day EMA. It’s been a busy month of analysis… so I will start circling back on those names and this trading strategy this month. Farm Partners (FPI) and Cal-Maine (CALM) have led the charge. If you’re in FPI, just note that the stock has moved into overbought levels…</p>
<div class="lb-trans"><p>距離我們列出 2026 年強 F 評分、低 Graham 數和 20 日 EMA 的股票名單已經一個月。這是一個忙碌的分析月……所以我將在本月開始回顧這些股票和交易策略。Farm Partners (FPI) 和 Cal-Maine (CALM) 引領了這波行情。如果你持有 FPI，請注意該股票已進入超買水平……</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://substackcdn.com/image/fetch/$s_!jND2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faa088724-8f66-4956-bade-eeddd6f06a20_1894x1032.png" alt="" original-src="https://substackcdn.com/image/fetch/$s_!jND2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faa088724-8f66-4956-bade-eeddd6f06a20_1894x1032.png"/></p>
<hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者的內容：</em></p>
</div><p>My Conversation With StockTwits On Gold, Silver, And Monetary Policy...</p>
<div class="lb-trans"><p>我與 StockTwits 關於黃金、白銀和貨幣政策的對話……</p>
</div><p>Super Dry Federal Reserve Analysis</p>
<div class="lb-trans"><p>超級乾燥的美聯儲分析</p>
</div><p>Charts To Consider This Weekend</p>
<div class="lb-trans"><p>本週末需考慮的圖表</p>
</div>

Optimism Builds On Trade Deal And Palantir Beat

- 上週市場情緒短暫回落，週一 S&P 500 創新高。  
- 中央銀行的支持和政策行動穩定了市場，商品投機增加。  
- 消費防禦類股票在過去三個月表現突出，超越科技股和週期股。

樂觀情緒因貿易協議達成和 Palantir 業績超預期而增強