May 18, 2025 The S&P 500 (chart below) approaches another marker in its bullish reversal, the 6017 level. This marks the neckline of the November-February top in the index. We approach with our MACD study is above highs of the past 12 months while our RSI study is on the cusp of the 70 level […]
May 11, 2025 We’re going to get a bit further into the weeds on Global trade negotiations in this week’s market letter. The dialogue has shifted from economic “saber-rattling” to a more constructive round of meetings focused on finding agreement and US equities have responded favorably as the calendar turns to May. Global trade negotiations
Narrations of a Sector ETF Operator | Our Thoughts on Sectors and Tariffs Read More »
April 27, 2025 At the risk of oversimplifying, conciliatory developments on global trade this week have coincided with a developing early-stage bullish reversal in the S&P 500 and US equity outperformance vs. rest of world equities (chart below). S&P 500 price has moved above the 5504 level which is our minimum threshold for bullish reversal
Narrations of a Sector ETF Operator | What We’re Looking for in a (Market) Bottom Read More »
April 20, 2025 S&P 500 price action continues to consolidate after putting in a potential floor at the 4818 level (chart below). 4818 was very near the S&P 500’s 2022 price high which marked the peak of the post-pandemic, stimulus-fueled bull market. We also note the symmetry of the 27% peak-to-trough decline in 2022 and
April 13, 2025 Equities continue to swing on developments around global trade policy. This past week saw the Trump Administration take its first steps towards outlining parameters for compliance with its policy goals. Concessions around computers and Smart phones, rollbacks of higher rates for countries that have offered to cooperate and very high rates for
Narrations of a Sector ETF Operator | The Market has Drawn its Trade War Battle Lines Read More »
April 7, 2025 Anyone else already tired of the word “tariff”? Tariffs have been slapped on trading partners, residual tariffs are coming back our way. If one puts on one’s bowtie and reads from the economic textbook, this is a bad setup. Tariffs are inflationary to the extent that they raise prices, but more precisely
Narrations of a Sector ETF Operator | Looking for Sign Posts on the Road Ahead Read More »
Please click the link below for our views on technical, fundamental and economic developments driving the S&P 500 as we start April. S&P 500 April Outlook
ETFSector.com April Outlook: S&P 500 Read More »
We remain skeptical of equities current attempt at a rally. No signs of enthusiasm for discounted Growth themes at these levels so far. Financials are acting better among bull market exposures.
Narrations of a Sector ETF Operator | Anyone Shopping the Sale? Read More »
NVDA’s stock chart is taking on a distributional look. The buyer reaction in the near-term is likely important to the US equity bull market
Narrations of a Sector ETF Operator | NVDA Remains the Bull’s Bellwether Read More »
March 8, 2025 A week into March, US equities sit in a precarious position. The S&P 500 (chart below, 1yr daily) is at near-term support and has formed negative momentum divergences on both of our favored oscillator studies, the MACD and the RSI (chart, panels 2 & 3). The index bounced last Friday after hitting
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