As US Equity indices broke through overhead supply, trend conditions strengthened to strong blue “Go” bars. This week Alex and Tyler review the intermarket headwinds for risk assets including treasury rates ($TNX), the US Dollar index ($UUP) and high cost of oil ($USO) which have now all fallen into a distribution phase in NoGo trends. Interestingly, leadership in the new S&P500 rally is coming from growth sectors such as information technology ($XLK) and consumer discretionary ($XLY) , but also the industrials sector ($XLI) which are all in “Go” trends on both an absolute and relative basis. Watch the top-down process this week as Alex and Tyler pull out leaders by asset class, sector, and into the individual names leading within the outperforming sectors – DE, NVDA, AAPL, LVMUY, PTON, ARKK, ETHUSD.
In this episode Alex and Tyler talk about how the recent rally in risk assets has reached its first hurdle. They also share that the strength of recent Go trends for the S&P 500, Growth sectors like Information Technology ($XLK) and Consumer Discretionary ($XLY), and even Bitcoin are at overh...
