The next report will be on Thursday, June 5th
See today’s Market Regime update for long-term breadth charts and a ZBT update.
Report/Video Headlines
The broader market remains mixed with fewer than 50% of S&P 1500 stocks in long-term uptrends. Strength is concentrated in large-caps and large-cap tech stocks (Nasdaq 100). Several tech ETFs formed flag/pennant patterns the last two weeks and broke out. In an interesting twist, we are also seeing strength in Consumer Staples and Utilities, two defensive groups. Commodities remain strong, especially metals. Silver and Platinum broke out, while Palladium turned up.
- SPY and QQQ Hold Gaps
- Watch S&P MidCap for Signs of Broadening
- Leaders: ITA,CIBR,ARKF,FDN,SKYY,ARKK,BLOK,IYZ,XLF,XLC,IHI,JETS
- Pennants, Flags, Whipsaw and Support (XLK)
- Pennants/Flags in Tech ETFs (AIQ, ARTY, MAGS, SMH, IGV)
- XLI Forms Pennant Near Prior High
- Utilities SPDR Extends on Breakout
- IFRA Holds Wedge Breakout
- Consumer Staples SPDR Breaks Wedge Line
- Insurance ETF Setting Up
- AMLP Holds Breakout as Wedge Forms
- Gold Corrects with Bull Flag
- Silver Breaks Triangle Line
- Gold and Silver Miners Surge to New Highs
- Natural Gas ETF Hits Support Zone
- Palladium ETF Holds Upswing/Uptrend
- Platinum ETF Remains with Massive Breakout
- Copper Goes for a Second Breakout
- DB Agriculture ETF Holds Triangle Breakout
- Bitcoin ETF Pulls Back after New High
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