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
February 23, 2025 The bullish trend for US equities matured in 2024 and is showing signs of fatigue to begin 2025. We are seeing several negative momentum divergences across important market bellwethers from the Mag7 to Housing to the S&P 500 itself. US equities are losing momentum to the upside and investors are starting to
Why are rates moving lower while commodities prices are moving higher? Our thought experiment leads us to a negative conclusion.
February 10, 2025 The S&P 500 continues in a consolidation pattern that started in early December. The index made a marginal new high on January 23rd, but the buyer couldn’t sustain above that level for longer than a day. The move sets up a negative momentum divergence in the RSI and MACD oscillators (chart below,
Narrations of a Sector ETF Operator | The Consumer is the Pivot Read More »
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