Risk on!  But Where Will the Leadership Be?

Risk on!
But Where Will the Leadership Be?

Chart in Focus While investor focus has been on the shift into the cyclical and value themes in the U.S. equity market, especially the smaller stocks tied to this theme, the S&P 500 Growth Index is not something that investors should ignore. Large cap growth...
Strong Breadth  at Record Highs

Strong Breadth
at Record Highs

Key Points Breadth metrics in the equity market remains supportive of the bullish price trend in the near term for the S&P 500, which traded to another record high yesterday. Breadth on the NYSE is not as strong as the S&P 500 but thus far is not waving a...
Europe: On the  Brink of a Breakout

Europe: On the
Brink of a Breakout

Key Points Europe is on the verge of a breakout from a consolidation that has been in place for six years. Markets in the U.S. remain in an uptrend with the Nasdaq Composite Index at a key inflection point on a relative basis. Sentiment is more fearful than greedy but...
All Eyes on the  Technology Sector

All Eyes on the
Technology Sector

Key Points Much of the weakness in the “growth stocks” and the Technology Sector since the middle of February has been concentrated in the names that can be characterized as “expensive” based on traditional valuation metrics. Arguably, Software falls into this...
The Uptrend  Continues

The Uptrend
Continues

Key Points The uptrend from the March lows remains in place for risk assets with the S&P 500 trading to a new record weekly high while global equities hold above an important support point. Semiconductors traded to a weekly record; will this help the Nasdaq do the...