NFTRH; Back in Rising Yields Mode?

Assuming a bullish market, one of the key considerations about sector positioning is the state of long-term yields and their relationship to short-term yields. For example, segments that tend to be more positively correlated with rising yields are Materials, Industrials, Financials, some Commodities and even Semiconductors. These are very cyclical areas whereas big Tech and internet-based services are less cyclical, as are defensives like Healthcare … Continue reading NFTRH; Back in Rising Yields Mode?

US Stock Market Leadership

The leadership chain is intact. SOX/NDX has remained functional. NDX/SPX has regained functionality. SOX/SPX is making a new high. Per this chart, as noted on Sunday in NFTRH 622, “this is an intact leadership picture for the US stock market.” The last 2+ days have done nothing to alter that view. Indeed, they’ve enhanced it. Personally, I have wanted a better correction. But we may … Continue reading US Stock Market Leadership

NFTRH+; US Stock Market Technical Status Update

Why again do I not have the constitution to be a perma-bear? Dow counts 27805 reasons as it breaks through the EMA 20 and SMA 50. SPX has taken out the same two moving averages, which we have noted as key to keeping a correction scenario going. It is eyeballing a gap at the resistance of the lost February high. Take that out and then … Continue reading NFTRH+; US Stock Market Technical Status Update