In this publication, we highlight themes that are close to breaking above their 2022 downtrends and/or 200-day moving average yet still have meaningful upside to their August 2022 peak. Select Hydrogen, Metaverse, FinTech, and Genomic ETFs stand out. With NDR now overweight equities in the U.S. and globally, look for us to make more cyclical, higher-beta recommendations.
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