On this first Tuesday of May Julius starts with an overview of rotations in asset classes and sectors last week using Relative Rotation Graphs. The main theme remains intact. The stock market is in a long term uptrend and Stocks continue to outperform bonds. However in the near future a pause or a mild setback for stocks is expected primarily driven by relative weakness in Technology, Consumer Discretionary and Health care, aided by some expected seasonal weakness for Financials. He then moves on to the main part of this week's show; the monthly charts as they were completed last Friday.
As of this episode Julius switches to use the underlying INDEXES instead of the, more commonly used, ETFs for these long term pictures and he will explain why.
Wrapping up the views per sector as seen on these monthly bar-charts results in the conclusion that 84% of the market last month reached both a new high as well as a new closing high while a whopping 94% of the market capitalization is considered to be in an uptrend.
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