Summary
Overall, sentiment has been moving lower but Defense Sector Sentiment has fallen at a faster pace. The bearish divergence in DSI % Bullish for the S&P 500 continues to persist. A small bullish divergence in sentiment for bitcoin has developed, a positive sign for the cryptocurrency.
Sector Sentiment Spread
Sentiment Spread has remained elevated despite the fall in both Offense and Defense Sector Sentiment. Defense Sentiment is at one of the lowest levels of 2025.
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