Signs of stock-market complacency are emerging as the searing equities rally coincides with an acceleration in earnings downgrades, according to JPMorgan Chase & Co. quantitative strategists.

JPMorgan said the speed at which some stocks have become overcrowded is the fastest in 30 years. It flagged retail favorites like Palantir and Coinbase.

In tandem with a presidential speech on Wednesday, the Trump administration is set to roll out its “AI Action Plan,” and new executive orders on AI are expected.

The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.

The S&P 500 is expensive, making value stocks hard to find, yet even more essential to identify. Learn more about HP and UNH stocks, which are deeply undervalued.

A weaker dollar, the global AI race and plans for ramped-up government spending abroad are all reasons why global equities can shine in the months and years ahead.

Cathie Wood, CEO of Ark Invest, is well-known for her aggressive investments in tech stocks she believes are going to be trendsetters. Crypto stocks like Coinbase (Nasdaq: COIN) and Robinhood (Nasdaq: HOOD) have, in particular, been among her favorite bets.