Wed close board

“I hope you have picked up the cautionary messages as you were read through this weekly review. It appears the market is preparing for additional pullback. The market internals are flashing signs of weakness. All the major indexes other than SPX and NDX are in a near term downtrend pattern.”

bearishSPX, NDX

• Mon noon, SPY ($770.73) +1.2%
• Wed close, SPY ($767.81) +0.8%
• Fri close, SPY ($771.35) +1.3%

SourceCall detailDispute this grade

“Major indexes remain near elevated levels but are facing increased short-term pressure as the 10-Year Treasury Yield moves above 5%. The combination of a 5.01% Treasury yield, elevated energy prices, increased volatility, geopolitical uncertainty, and stretched valuations increases the probability of continued sector rotation, profit-taking, and short-term pullbacks rather than uninterrupted market advances.”

bearishNo ticker named

• Mon noon, SPY ($770.73) +1.2%
• Wed close, SPY ($767.81) +0.8%
• Fri close, SPY ($771.35) +1.3%

SourceCall detailDispute this grade