Weakness under the surface and weakness within the Nasdaq 100 is weighing on the S&P 500, which cracked again. The weight of the evidence was already bearish for small-caps, mid-caps and
After a big surge in the second half of March, stocks fell back this week as the S&P 500 declined around 2%. This modest decline is warranted after the March surge, but it was not enough to push sentiment to an extreme. The AAII Bears are back above 40%, but two other sentiment indicators barely budged.
This video starts with broad market analysis and then moves to the individual ETFs. The broad market section includes the Composite Breadth Model, Fed balance sheet and yield spreads. Breadth indicators, SPY, QQQ, bonds, gold and the Dollar are also covered. Analysis, then turns to the ETFs charts with leading trends, emerging trends and setups.
Today’s article is the fifth installment of the Trend Composite strategy. The series was put on hold because of recent events and market volatility, but continues today and will complete before the end of the month. Today’s installment uses the highly curated All Weather ETF List, which covers most assets and has minimal overlap.