The Market Outlook for 2023 was written in December 2022.

I have a designated radar screen for all the predictions and stock picks. The picks especially remain a focus for short-term and longer-term trades, depending on market conditions. In December, I wrote, "This stock, Tetra Tech (TTEK) made our radar when it announced that they are producing zinc-bromide used in batteries and for energy storage. Zinc-bromine batteries offer advantages over lithium-ion batteries. The battery materials are low cost, readily available, and with little capacity degradation. The chart looks amazing, bullish in phase and leadership with a clear risk under the 50-WMA."

Since December 2022, TTEK has lived under the 50-WMA (week moving average) more than it has lived above it. Nonetheless, with earnings on tap after the close on May 10, this stock caught our eye again today, confirming the move from last week back over the 50-WMA.

On May 9, TTEK increased over 3% after an inside day on May 8. On the daily chart, TTEK looks amazing over 148.50, which interestingly, corresponds with the 23-month moving average resistance. Real Motion indicates an increasing momentum, with it clearing the moving averages and the zero line.

Perhaps this will finally find some follow-through this year after three major bottoms with higher lows since January.

To be fair, in December, I wrote about emerging markets focusing more on the iShares MSCI EAFE ETF (EFA), which tracks a market-cap-weighted index of developed-market securities based in Europe, Australia, and the Far East. It excludes the US, Canada, and small caps.

However, as Global X MSCI Greece ETF (GREK) was my sleeper trade of 2022, since December, I have come to love this ETF above, or the one of Vietnam, thus:

I am declaring this the sleeper trade of 2023-2024.

Vietnam has experienced significant growth in its manufacturing sector, becoming one of the fastest-growing economies in Southeast Asia. Government policies aimed at attracting foreign investment, an abundant supply of cheap labor, and favorable trade agreements with other countries have helped. Samsung, Intel (INTC), and Nike (NKE) are a few that have set up manufacturing operations in Vietnam. In addition, Vietnam has taken advantage of trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which has opened up new export markets.

Hence, sleeper.

The daily chart shows good consolidation above the 50-DMA. It still trades below the 200-DMA. However, there is a bullish divergence in our Real Motion Indicator. The 50 or blue line is above the 200 or green line. Plus, momentum is rising while price goes sideways.

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Mish in the Media

In this appearance on Real Vision, Maggie Lake and Mish discuss current state of the market, from small caps to tech to gold.

In the Q2 edition of StockCharts TV's Charting Forward 2023, hosted by David Keller, Mish joins RRG Research's Julius de Kempenaer and Simpler Trading's TG Watkins for an roundtable discussion about the things they are seeing in, and hearing about, the markets.

Mish and Dave Keller discuss why Mish believes that yields will peak in May, what to expect next in gold, and more in this in-studio appearance on StockCharts TV's The Final Bar!