- 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.
For further details see:
Market Frustrating, Not Fatal; Energy Strength; Watching Yields Closely - Market Strategy Weekly - June 18, 2021