Today was the closing of the 1st quarter of the year and the market gave us one of the most aggressive capital movements in the last two years. Today will be remembered as the day when "Smart Money" decided that risk is not a threat, but a fuel.
While the geopolitical noise in the Strait of Hormuz tried to tighten the inflationary string, Wall Street responded with a clear message: Technology is not a sector, it is the infrastructure of the modern world.

The heat map we have in front of us is a view of the institutional "Window Dressing". Fund managers have cleaned their portfolios of lagging assets (Energy and Consumer Staples) to saturate them with the quarter's winners.