Take-Aways: The pressure on the bulls continues to mount across asset classes. In the U.S. equity market, all eyes will be on the June lows. Should they be broken, odds favor a trip to the levels that were seen prior to the COVID crash. The 10-Year Note remains under...
Take-Aways: The trends for the key themes and relationships that we track have become slightly more bearish over the past week. Of note, Semiconductors are on the verge of testing important relative support, and a breakdown would not be a welcome development for...
Take-Aways Breadth metrics were weaker over the past week of trading. All Advance/Decline Lines are below their respective 50-day moving averages, and new lows on the NYSE are beginning to reverse their downtrend from June. Twenty-day data is nearing washed-out levels...
Take-Aways The major indexes in the U.S. remain below their 50 and 200-day moving averages. If this remains the case, there are higher odds that stocks will follow the 10-Year Note in testing/breaking the June lows. This idea is strengthened by the fact that...
Take-Aways: Once again, we find it hard to make a compelling bullish case for the market, given sector trends. For investors who must have equity exposure, Energy and Utilities remain leadership. Discretionary and Financials continue to improve and warrant some extra...
