Complimentary Analysis

Complimentary

Tech Weighs, but Other Groups Pick up the Slack – Biotech and Banks Lead

The technology sector is weighing on the S&P 500 as SPY corrects in June. Other sectors, however, are picking up the slack with industrials and healthcare moving higher. This June rotation is also benefitting the Regional Bank ETF and Biotech SPDR, which hit new highs. Today’s report will cover the recent rotations and show how the trade the trend in these two ETFs. $XLI $XLV $XLU $XLF $KRE $XBI $KBE $IBB $ITA

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Complimentary

Mixed Performance Weighs on the MAG7 as the ETF Hits Moment of Truth

The Mag7 ETF is slightly lagging the broader market because of relative weakness in three components. Nevertheless, four components are showing strength and the ETF hit a moment of truth as it returned to the breakout zone. Today’s report will focus on performance for stocks in the Mag7, the Mag7 ETF chart and one of the leading components (Apple). $MAGS $AAPL

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Complimentary

Small-caps Lead – Breadth Improves as SPY Pulls Back – Industrials SPDR Sets Up

SPY pulled back in early June, but remains in bull market mode with improving breadth. The bull market is broadening with more stocks moving above their 200-day SMAs. This is especially true for small-caps, which were leading in March and continue to lead in June. Within the S&P 500, I am seeing a bullish setup in the Industrials SPDR. $SPY $IJR $SPXA200R $SMLA200R $XLK !GT200XLI

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Complimentary

Healthcare Looks Healthy Again with Breadth Surge and Breakout

Chartists looking for participation shifts can monitor the percentage of stocks above their 200 and 50 day EMAs. StockCharts tracks these indicators for the major indexes and the sector SPDRs. Today’s report will focus on big participation shift in sector breadth and chart analysis for the Healthcare SPDR. $XLV !GT200XLV !GT50XLV

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Complimentary

Breadth Deteriorates – Is this a Threat or an Opportunity?

Breadth indicators deteriorated from mid April to mid May, but this is more of an opportunity than a threat. First, SPY and S&P 500 breadth are bullish, which sets the bullish tone for the stocks. This means bullish outcomes are more likely than bearish outcomes. $SPY $RSP $SPXA50R

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