August 1, 2025 S&P futures down 1% in early Friday trading, following broad weakness in Thursday’s session. Initial gains from upbeat MSFT and META earnings faded as pressure resumed in pharma, med-tech, biotech, banks, asset managers, and energy. Asian markets declined sharply overnight, led by South Korea (-4%) and Hong Kong (-1%). Europe also down […]
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April 8, 2025 The S&P 500 has now retraced the entirety of current cycle gains above the S&P 500’s 2022 price high (chart below). As we noted in our weekly piece, the current level represents a 50% retracement of the entire bull market move from the trough in October 2022 through the peak in January
Tactical Tuesday Report: Some Signs of Positive Divergence Beneath the Surface Read More »
S&P futures were down 0.8% Thursday morning, following Wednesday’s U.S. market decline led by semiconductor, pharma, and QSR sectors. Big tech stocks were mixed, with Alphabet (GOOGL) gaining strongly on earnings, while Microsoft (MSFT) and Meta (META) were pressured by Azure guidance and increased capex scrutiny, respectively. Asian markets were mixed overnight, with declines in
ETFsector.com Daily Trading Outlook, October 31, 2024 Read More »
XLB has fallen to new lows without any signs of positive divergence or bullish reversal at the industry level.
Our new Elev8 sector selection process starts June with an overweight in XLB of 1.68% vs. the sector weight in the S&P 500. We are not quite as sanguine on XLB as that allocation suggests as we are naked the Energy sector in our model and hoping a modest overweight in XLB will hedge us
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