Risk-Off or  Just a Pause?

Risk-Off or
Just a Pause?

Key Points The Credit Market is Not Sending Up a Red Flag High Beta vs. Low Volatility Tests the 50-Day Moving Average No Breakdown in the Discretionary/Staples Ratio Copper and Lumber Reach Important Support vs. Gold Growth Nears Resistance Relative to Value Chart in...
Breadth Metrics Fail  to Confirm Price Highs

Breadth Metrics Fail
to Confirm Price Highs

Key Points Equal Weighted S&P 500 is Losing Momentum vs Cap Weighted Increasing New Lows on the NYSE S&P 500 Breadth Shows Further Signs of Weakening Small Cap Breadth is Holding Up Better Breadth Trends Did Not Confirm Recent Index Highs Chart in Focus: In...
“Reflation” Trade  Under Pressure

“Reflation” Trade
Under Pressure

Key Points Airlines Begin to Lose Altitude Just as Travel Returns “Reflation” Sectors Test Their 50-Day Moving Averages, Relative Pressure Builds Technology Continues to Improve Communication Services is on the Verge of a Relative Breakout Real Estate’s Trends are...