While Large-Cap Tech's decline is making many think today's market is down, Equal-wgt $SPX ($RSP) is higher by +0.78%, and we're seeing DJ Transports rise to highest levels on a closing basis in over 3 mths-$XLK -0.36%, but $RSPT (Equal-wgtd #Tech) is up +0.66%. Food for… pic.twitter.com/pAKqRJ1y9y — Mark Newton CMT (@MarkNewtonCMT) June 26, 2023 […]
Chart of the Day – Monday, June 13, 2023
The S&P 500 Percentage of stocks above its 20-day moving average is now just eclipsing the 80% level. While it indicates risk/reward on the rally is diminishing, it can remain elevated for weeks. $SPY pic.twitter.com/XM5at0jrSz — Matthew Timpane, CMT (@mtimpane) June 13, 2023 Today’s Chart of the Day was shared by Matthew Timpane (@mtimpane). […]
Chart of the Day – Tuesday, June 6, 2023
The rotation into small caps (i.e., expanding breadth) is generating a breakout in $IWM above its 200-day MA, giving it good room to resistance; note the DeMARK “13” from @DeMarkAnalytics supports near-term outperformance vs $SPX #fairleadstrategies pic.twitter.com/SPoSJGRIaG — Katie Stockton, CMT (@StocktonKatie) June 6, 2023 Today’s Chart of the Day was shared by Katie Stockton […]
Chart of the Day – Friday, May 26, 2023
What comes next for the S&P500? Are we finally breaking above $420… ? My best guess is a breadth expansion with broader participation while the mega cap names take a back seat over the coming weeks. How do you see it?$SPX $SPY pic.twitter.com/yAiCpgTkmb — Sam McCallum (@Honeystocks1) May 26, 2023 Today’s Chart of the Day […]
Chart of the Day – Monday, March 27th, 2023
$RSP vs. $SPX pic.twitter.com/7cpxMA7JMQ — Larry Thompson (@HostileCharts) March 27, 2023 Today’s Chart of the Day was shared by Larry Thompson (@HostileCharts). It’s a ratio chart of the Equal Weight S&P 500 vs the traditional Cap Weight S&P 500 (RSP/SPX). Breadth has become a concern in recent weeks, as a handful of Mega Cap Tech stocks […]
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