Two Weeks Later...and Another Inflection Point
Table of Contents:
1) No matter what happens in the short-term, the stock market still has a lot more “normalizing” to do.
2) The chip stocks are breaking out. Any further upside follow-through will give us confirmation.
3) Who has noticed that the XLK tech ETF is within a whisker of its all-time highs???
4) The trend for bond yields is still up (and the 2yr note yield is testing its 2023 highs!)
5) Updating the charts on the major averages. Very close to confirmed upside breakouts for the SPX & NDX.
6) The action in the XLY consumer discretionary ETF should be important going forward.
7) What are the stock markets in South Korea and Europe telling us right now?
8) Crude oil should see a short-term bounce, but it may not last very long.
9) Potpourri….….Economy, markets, politics, geopolitics, Veterans…and football!
10) Summary of our current stance.