Chart of the Day: Market Breadth & Mag 7 Battle Continues
“This is easily the most interesting chart in the market right now.
Breadth is strong as NYSE A/D Line is at all-time highs, but it is hard for the S&P 500 to make a lot of progress if the Mags are not joining the party. SPX pretty flat over the last four weeks.
How long can the Mags get hit and semis just consolidate near their highs? What happens if semis roll over?” - Dan Russo, CMT.
Microsoft Must Hold This Level...
“Hard to think of a more important “level” in this market than Microsoft and $350 right now.” - Scott Brown, CMT.
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CMT Designation Proves Mastery of Technical Analysis Concepts
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The Case For Managing Risk Despite Strong Earnings
“Immunology stocks were dead money for years. Now they’re breaking out into a brand-new uptrend.” - Alfonso De Pablos, CMT.
Small-Cap Index Sees Most 52-Week Highs Since November 2024
“Small caps continue to gain strength. That’s the highest reading since November 2024. Leadership continues to broaden beneath the surface.” - Grant Hawkridge, CMT.
U.S. Small-Caps Outperform International Peers
“Small caps outperforming large caps in the US. But not so in EM (GS).” - Mike Zaccardi, CMT, CFA.
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CMT News You Can Use
- Dave Keller, CMT discusses the “Head and Shoulders” pattern that’s captivating market watchers on StockCharts.com.
- Grant Hawkridge, CMT makes the case for why you shouldn’t buy tech stocks right now.
- Matthew Timpane, CMT discusses how Wall Street is positioned ahead of its July seasonality.
- Rachel Dashiell CMT, CFP joins Schwab Network to discuss rising market breadth and where rotation is creating opportunities.
- Rick Ducat, CMT discusses Adobe’s “unusually bad situation” on Schwab Network.
Shared content and posted charts are intended to be used for informational and educational purposes only. CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. CMT Association does not accept liability for any financial loss or damage our audience may incur.
