USMC - Market Frustrating Not Fatal; Energy Strength; Watching Yields Closely - Market Strategy Weekly - June 18 2021

• Strategas Head of Technical Strategy Chris Verrone takes us through some market insights.
• The trend of this market is up, but momentum has started to soften under the surface. Over the last few months, participation has narrowed a little as fewer stocks move higher along with the market.
• The outperformance of Energy versus the broader market over the last several months is as good as anything we've seen in 15 years. That’s a potent signal.
• Although we’re seeing weakness in the more speculative corners of the market (e.g., IPO index and SPACs down 20-30%, bitcoin selling off), it hasn’t bled into the broader market. We think that bears watching.

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