The market hit resistance around 4100-4200 yet again. An advance beyond this level will signal a new bull market....
The technology sector is climbing back up to the top of the performance mountain. Rising interest rates and slowing down momentum could put the breaks on. However so far it’s a party like it’s 2020....
Gold is approaching the $2000 mark on declining momentum. I would recommend waiting for a pullback to buy, but only if we continue to see an outperformance relative to stocks....
The banks which made the news last week (Silicon Valley Bank, Credit Swiss, First Republic Bank and Signature Bank) were underperforming the overall market since late 2021 or earlier....
The US dollar is approaching a historically significant level. If you need to sell some US dollars, this might not be a bad time to do so....
As expected, market participation divergence (fewer stocks pushing the market higher) resulted in a pullback. The next question is whether the market will hold the 200 day moving average....
Canada and US have virtually identical relative performance, meanwhile International and Emerging markets are gaining relative strength....
Enthusiasm seem to be waning, proceed with caution. Silver lining is that buyers seem to be showing up during market weakness....
This recent rally is the most constructive so far since 2021, however is running into resistance. Put money to work on pullbacks for long term positions....
It appears that relative strength is shifting to outside of North America. Emerging markets look to turn around....