Defensive Market – SPY Holds as SOXX Leads – Healthcare ETFs Setting Up

The stock market remains in bull mode, but there are more signs of risk aversion and the market profile favors defensive groups $SPY, $IWM, $MAGS, $XLK, $QQQ, $TLT, $IYR $XLU, $XHE, $IHI

The stock market remains in bull mode with the broadening trade working. There are setups in finance, utilities and defense, and uptrends in housing. Symbols covered: $RSP, $IWM, $ITB, $XHB, $IDGT, $XLF, $XLY, $XLU, $ITA, $ARKG, $IHI, $ARKX

There is no change to our weight of the evidence chart. SPY hit a new high last week and is trading near this high. Names hitting new highs are on strong uptrends. Some 65% of S&P 500 stocks

The weight of the evidence remains bullish for stocks. Dozens of ETFs hit new highs in January as the bull market broadened even further in January. Even though XLK and QQQ are lagging, they are still in uptrends and their cups are half full as earnings season gets in full swing.

As hard as it is, this is the time to focus on the charts and ignore the news. It is not only difficult to interpret today’s news, but it is also impossible to predict tomorrow’s news. Sure, we can game out different scenarios and weigh the odds, but this is a tall order in the current environment.

The broadening trade has been, and remains, in effect since late November. This is when the non-tech part of the stock market woke up with several breakout surges. ETFs Covered: SPY, QQQ, XLK, MAGS, XLC, CIBR, SKYY, ARKF, ARKK, ITB, XHB, XLU

The weight of the evidence remains bullish for stocks. SPY hit a new high in late December and remains near this high. 62% of S&P 500 stocks are above their 200-day SMAs, which is the vast majority. This also means that 38%

The weight of the evidence remains bullish for stocks. SPY hit a new high in late December and remains above its rising 200-day SMA. 63.2% of S&P 500 stocks are also above their 200-day SMAs. Even though this means around a third (36.8%) are below

The weight of the evidence remains bullish for stocks. SPY is trading very close to a new high and remains …Symbols covers: SPY, QQQ, MAGS, XLK, XLY, XLI, XLV, XLC, IEF, $UST10Y, ITB, XHB, ITA, ICLN, IFRA, IYZ

The weight of the evidence is bullish for stocks. SPY is trading less than 1.5% below its 52-week high and well above the rising 200-day SMA. This means there is a long-term uptrend in the most important benchmark for US stocks. Within the S&P 500, 63% of component

The stock market remains quite mixed, but the pockets of strength are still larger than the pockets of weakness. Some 60% of S&P 500 stocks are above their 200-day SMAs, but this means 40% are below, and in long-term downtrends. There is a large pocket of

The weight of the evidence remains bullish for stocks, despite sizable pockets of weakness within the stock market. SPY is above its rising 200-day SMA and held its October low (650). The most important benchmark for US stocks remains strong. SPX %Above 200-day SMA bounced off the 50% level and is currently at 60%. The cup

Cracks are appearing in the technology sector and Nasdaq 100. This is an important development because these two were responsible for most of the gains within the S&P 500. Housing, regional banks and consumer discretionary were already leading lower.

The weight of the evidence remains bullish for stocks, but there are large pockets of weakness within the market. 56.6% of S&P 500 stocks are above their 200-day SMAs, which means 43.4% are below and in long-term downtrends. Even though this is a rather large swath of the market, the cup

While the weight of the evidence has yet to turn bearish, the market is becoming more split as the pockets of weakness expand. 54.80% of S&P 500 stocks are above their 200-day SMAs, which is the lowest percentage since June. This also

The weight of the evidence remains bullish with the same groups leading the way higher. SPY and QQQ hit new highs to affirm the dominance of large-caps and large-cap techs. Tech, industrials and utilities are the strongest sectors with new highs this month. Within technology, the AI-related ETFs are leading the charge with short-term breakouts last

The weight of the evidence remains bullish for stocks. SPY, QQQ and IWM hit new highs in October and remain in leading uptrends. Around 65% of S&P 500 stocks are above their 200-day SMAs. Even though this means

It is still a bull market, but some key groups are under pressure. We start with a performance chart showing the percentage gain/loss for 15 ETFs. The right side of the chart shows the performance ranking. The Gold

The Russell 2000 ETF (IWM) is also chugging along with new 52-week highs here in early October, but the S&P SmallCap 600 SPDR (IJR) and S&P MidCap 400 ETF (IJH) stalled the last four weeks and remain well below their

The weight of the evidence remains bullish for stocks. Large-caps (SPY) and QQQ (large techs) are leading with new highs on Monday. 66% of S&P 500 are above their 200-day SMAs, which means the vast majority of stocks are in long-term uptrends. The S&P 1500