macro-monday
Despite the recent strength in the market, the breadth is narrow and our market posture remains market neutral- negative potential as price of the SPY remains below a falling Chaikin Trend. As you can see in the charts below, the bull/ bear ratio remains weak at 0.29. We continue to see the number of bearish stocks increase at a quicker pace than bullish additions. As far as the SPY Secors, Healthcare, communications are the only sectors with positive bull / bear ratios. Tech is the best of the worst. Lastly, when it comes to relative strength vs the market on a six month lookback, gold, bond and currencies continue to outperform and signal better relative performance in the near-term. Watch todays video to see how we use the Chaikin Analytics app to help us develop our macro opinion.
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