..despite ASX making new all time highs as does the S&P500, it...

..despite ASX making new all time highs as does the S&P500, it is not a rising tide lifting all boats.

1. XJO has underperformed S&P500 by 3x YTD
2. Resource stocks (in bold) severely underperforming, as I cautioned to avoid
3. XJO's gains is all about the big banks, where longs are flocking to as if its the only game in town
4. Two of the darling sectors of ASX, lithium and gold stocks aren't getting the love- XGD underperforming to Gold and AUD Gold on a YTD basis; lithium stocks following Tesla's lead lower
5. NVIDIA and META have been two standouts

..Indices don't matter, we now know. But if they run, and your sector does not, that's rather troubling. Speculative money is trying to find a home in ASX but is running out of ideas when gold and lithium stocks aren't so much in play.
..the lack of exuberance in ASX is reflecting the difficult state our resource sector is in now, no matter that Wall St is going gangbusters. We might as well retreat and find a better time to put our capital in harm's way as risk-reward is not favourable.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0		2 Jan 2024	17 Feb 2024	8-Mar-24	Since 2Jan	Since midFeb
1	BHP	$ 50.54	$   45.61	$   43.95	-13.0%	-3.6%
2	CSL	$   288.30	$ 284.00	$ 285.47	-1.0%	0.5%
3	CBA	$   113.61	$ 116.28	$ 121.45	6.9%	4.4%
4	NAB	$ 30.86	$   33.07	$   35.11	13.8%	6.2%
5	WBC	$ 23.08	$   24.57	$   27.70	20.0%	12.7%
6	FMG	$ 29.39	$   28.40	$   25.96	-11.7%	-8.6%
7	RIO	$   136.57	$ 128.96	$ 119.89	-12.2%	-7.0%
8	WOW	$ 37.51	$   35.98	$   32.93	-12.2%	-8.5%
9	XRO	$   113.14	$ 117.50	$ 133.65	18.1%	13.7%
10	PLS	$   3.98	$ 3.71	$ 4.02	1.0%	8.4%
11	LTR	$   1.69	$   1.175	$ 1.30	-22.8%	10.6%
12	XJO	7,628	7,658	7,847	2.9%	2.5%
13	XGD	7,362	6,447	6,955	-5.5%	7.9%
14	GOLD	$ 2,059	2,013	2,164	5.1%	7.5%
15	AUD GOLD	$ 3,045	3,083	3,262	7.1%	5.8%
16	S&P500	4,742	5,005	5,157	8.8%	3.0%
17	DOW	37,715	38,628	38,791	2.9%	0.4%
18	XLB	85.39	85.17	88.60	3.8%	4.0%
19	NVIDIA	481.68	726.13	926.69	92.4%	27.6%
20	META	346.29	473.32	512.19	47.9%	8.2%
21	TESLA	248.42	199.95	178.65	-28.1%	-10.7%