macro monday
Our Macro-Monday analysis once again points to a very bullish market. While we are seeing strong sector breadth, we are also cautious of a market that has had quite a run. As we noted in today's video the bull bear ratio of the SPY near 3.0 is typically where we some sort of retracement or consolidation. WE are also approaching a confluence of potential technical hurdles, including all time highs that happen to coincide with the underside of a long-term diagonal uptrend. WE are cautiously bullish, and would be looking for opportunities to acquire oversold names and sectors that have been outperforming.
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