By the XLV/SPY ratio and several other indicators, risk is back on in the markets VIX: Deeply depressed from the hysterical April high, indicating complacency High Yield (junk) Spreads: Deeply…
The XLV/SPY Ratio is a bear market indicator when rising The XLV/SPY ratio pits a more defensive, more cyclically insulated sector vs. the broad US market. Its defensive characteristics tend…
The XLV/SPY ratio is a potential risk-off signal, and it is turning back down When Healthcare (XLV) rises vs. the broad market (SPY) it is a risk-off signal. Hence, we…
China tariffs imposed by the US have not dented the potential trend change in China large caps (FXI) vs. US large caps (SPY) It's interesting, is all. The news cycle…
The ratios of gold to stocks (SPX) and the miners to stocks (SPY) are still intact to the rally theme There are of course macro and sector fundamentals and nominal…
The XLV/SPY ratio has not bottomed, so stocks have not topped To this day at least, there is no sign of a market top by the XLV/SPY ratio indicator. XLV/SPY…
This update asks you for 14 minutes of your time as we cover US stock market leadership, USD, GDX and some gold ratios with respect to the macro backdrop that…
As the USD continues to recover after grinding support a couple days ago and the Gold/Silver ratio continues to bias bullish (ref. yesterday's pre-market update), let's take a look at…
Good cop (QQQ/SPY ratio) is holding the bull flag and turning up. I assume the happy stuff out of Microsoft is boosting spirits. Reference the original Good/Bad cop update. In…
A quick look at two items, the guide for a bullish market (QQQ/SPY, also noted in NFTRH 754) and XLV/SPY (which is a defensive sector vs. the broad market and…
ES and NQ are set to each tick a new rally high ES and NQ are laggard and leader, respectively. ES (S&P 500 futures) wants to follow its leader in…
If SPY's daily chart has been rising in a bear flag after testing the key December low, then we'd have to think about calling an end to the Q4-Q1 rally,…
Here on Fed day I want to talk about things other than the Fed and its upcoming .25% rate hike. We have not reviewed sectors relative to the S&P 500…
A short snapshot of a couple items for your review. The USD index (DXY) is testing the SMA 50 right now. It never made it to our target at the…