• 641 days Will The ECB Continue To Hike Rates?
  • 641 days Forbes: Aramco Remains Largest Company In The Middle East
  • 643 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,043 days Could Crypto Overtake Traditional Investment?
  • 1,047 days Americans Still Quitting Jobs At Record Pace
  • 1,049 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,053 days Is The Dollar Too Strong?
  • 1,053 days Big Tech Disappoints Investors on Earnings Calls
  • 1,054 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,055 days China Is Quietly Trying To Distance Itself From Russia
  • 1,056 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,060 days Crypto Investors Won Big In 2021
  • 1,060 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,061 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,063 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,063 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,067 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,068 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,068 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,070 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

  1. Home
  2. Markets
  3. Other

Germany and Banks Point To Higher Highs In Stocks

As shown below, the market is currently being carried by tech, retail/consumer discretionary, and banks. These sectors do have a big impact on the daily movement in the S&P 500 Index - so gains can continue, but we would prefer to see leadership broaden in the coming days and weeks.

S&P 500 Sector Weightings Over Time

For those with limited time, the most important technical points in the video below begin at the 9:34 mark. Key points:

  1. 00:00 - 03:55: CCM Models remain bullish - DeMark comments.
  2. 03:55 - 07:58: German stocks (EWG) pass technical retest.
  3. 07:58 - 09:34: Bull-bear bullet points.
  4. 09:34 - 16:17: Financial stocks have a similar look to a bullish set-up from 2009.
  5. 16:17 - 21:00: S&P 500 history of money-printing induced bottoms (1998-2012).
  6. 21:00 - 25:15: Longer-term buy signals for vast majority of global stock markets are in place.

 

 

A concern, or bearish counterargument, not included in the video above, is the narrow leadership in the current market. Outside of technology, retail/consumer discretionary, homebuilders, and banks, there are few sectors, asset classes, or regions of the globe exhibiting strong relative strength.

 

Back to homepage

Leave a comment

Leave a comment