The SPX Equal Weight Has Stalled Starting Last Week
The short-term uptrend remains intact, although there are a few small signs of weakness.
The Nasdaq-100 is the first major index that looks like it is rolling over.
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The SPX equal weight has stalled starting last week, and the cuppock looks like it is starting to head lower.
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I find this chart so curious. New lows barely exist on the other exchanges, but on the AMEX the level of new lows is elevated and flashing a warning sign. But how important is it?
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The Leader List
The long-term leaders are blue, the short-term leaders are green and the ETFs that are showing recent strength are shown at the bottom. The S&P500 is the benchmark.
XLK and QQQ have been dropped from the long-term leaders because their relative strength has been weakening.
Consumer Staples are not having their best day.
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Outlook
The ECRI index is pointing to weak economic growth in the months ahead.
The long-term outlook is worrisome.
The medium-term trend is up.
The short-term trend is up. On watch for signs of the next short-term downtrend.
Disclaimer: I am not a registered investment advisor. My comments above reflect my view of the market, and what I am doing with my accounts. The analysis is not a recommendation to buy, ...
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