Weekend Review and Watchlist

Overview

Equities recovered well this week led by gains in Industrials, Consumer Discretionary, Materials, and Technology. Energy slumped to six-month lows, and was joined to the downside by Healthcare. The leaders of the last few weeks - Utilities and Consumer Staples - were relatively weak.

This was a good week for transports, small / mid-cap, and growth names, and offered the first sign in several weeks of some improvement in breadth and price action. Sentiment measures also show optimism at a new low since the election (a positive).

Here's the S&P on a daily and weekly chart:-

This week's gains saw the S&P test the underside of its 20 and 50-day MAs, and while it was encouraging progress, it has further work to do to break the current sequence of lower highs and lower lows over the last 7 weeks.

The Dow and NYSE Composite are in a similar situation, but the Russell 2000 and NASDAQ (below) both managed to climb back above their 10-wk MA, while the Transports posted its highest weekly close in 5 weeks.

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Sector Analysis

There's a welcome change at the top this week with Consumer Discretionary and Technology taking back the lead roles.

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They're followed by Industrials, Utilities, Staples, and Real Estate which are all above their 50-day MA. Then comes Materials, and Healthcare, below their 50-day, but above the 200-day.

At the bottom remain Financials, which recovered but still has much work ahead, and Energy, which slumped back to its pre-election levels of early November, and is the only sector below its 200-day.

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Alpha Capture Portfolio

Much like the market, our model portfolio made back all of last week's losses, climbing +1.31% this week vs +0.85% for the S&P. We had four new entry signals across different sectors to bring ...

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Comments

Weekend Review and Watchlist

Overview

Equity markets weakened further with the major indices finishing a holiday-shortened week at the lowest levels in 2 months. Longer term the uptrend remains intact, but near-term breadth has deteriorated, and sentiment is negative with measures such as the ...

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Comments

Weekend Review and Watchlist

Overview

It was an eventful week if you're into economic numbers, Fed watching, and geopolitics, but for the stuff that actually matters - price and its trend - it was deadly dull, with the major indices all finishing slightly lower on ...

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Weekend Review and Watchlist

Overview

Equities recovered this week with the NASDAQ leading the way and posting all time highs on a daily and weekly basis, but the other major indices remain mostly rangebound and just below their highs.

The S&P rebounded from a ...

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Comments

Weekend Review and Watchlist

Overview

A similar report to last week, because quite frankly not a lot changed. Short-term, the major indices have weakened further, but longer-term remain in strong uptrends. Defensive sectors are leading, along with technology.

The tumble on Tuesday that finally ...

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Comments

Weekend Review and Watchlist

Overview

Last week was a whole lot of noise for very little progress in either direction. Longer-term the uptrend in equities remains intact, but it's clearly mixed in the short-term for specific indices and sectors.

The S&P improved modestly ...

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Weekend Review and Watchlist

Overview

Equity indices are just shy of their highs, but breadth has deteriorated in the last week or so, with large caps significantly outperforming small caps, and leadership being concentrated in fewer names. While the indices appear close to their ...

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Comments

Weekend Review and Watchlist

Overview

The major indices all made new highs this week, with the S&P and NASDAQ recording their sixth straight high on a weekly close basis, along with the NYSE Composite and MidCap Index.

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I know there have been a slew ...

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Comments

Weekend Review and Watchlist

Overview

Equity indices climbed to fresh all time highs, driven by a very different mix of sectors compared to previous weeks, with the recent laggards of Utilities, Healthcare, Staples, and Real Estate leading the advance. Breadth remains strong, and some ...

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Comments

Weekend Review and Watchlist

Overview

Not much of a change this week. The Dow, S&P, NASDAQ all closed at all time highs on both a daily and weekly close basis. Breadth remains supportive, just below its highs. Bullish sentiment is elevated in institutional surveys ...

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Comments

Weekend Review and Watchlist

Overview

The S&P, NASDAQ, Dow, NYSE Composite, and Russell Midcap, all closed at all time highs on both a daily and weekly close basis. Breadth also made new highs, and bullish sentiment remains elevated.

Here's the 'Correction Roadmap' chart ...

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Comments

Weekend Review and Watchlist

Overview

The major indices started poorly but recovered steadily during the week, finishing very strongly Friday with the S&P and NASDAQ recording fresh highs on a weekly close basis, along with the NYSE Composite, and Midcap Index. Breadth remains supportive ...

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