Programming Note: I am taking an extended week off from Friday July 3rd to Saturday July 11th. There will be no reports or updates during vacation because I will be spending some quality time with family. I will update the breadth models on return and post an update on Monday, July 13th. Have a fun and safe 4th of July weekend!
There are two videos today. The normal weekend outlook and a special update on seasonal patterns. The weekend outlook starts by reviewing year-to-date performance for the major index ETFs, some key groups, the sector SPDRs and the equal-weight sectors. It is mixed, at best. We then turn to the breadth models. The Nasdaq 100 is the only one of the four breadth models that is bullish. Two of the three medium-term indicators are bullish as SPY consolidates above the 200-day and support. I will then update the Fed balance sheet, the yield spreads, the ETF ranking tables and the ChartBook.
Note that I updated the article and video explaining the breadth indicators and models. This article, and other articles with longer shelf life can be found on the premium page.