Updated Models & Spotlight Chart 3/30/2025

Leadership In the Bull is Threatening to Turn It into A Bear

The S&P 500 fell 1.53% last week, strongest three sectors being XLP, XLE, and XLY. The bulk of the decline occurred on Friday with 81% of large cap stocks moving lower on the day. The High Beta factor hit a new lower-low in relative performance. Gold has continued to be a risk-off asset, making a new high across major currencies. Last week I wrote about the potential turn in relative performance of global markets. They did in fact peak on Tuesday the 18th, weakening relative to the S&P 500. Risk Appetite remains weak, and the broad market trend saw another change last week.

This week’s Spotlight Charts evaluates the weakness in three trends which had been market leaders over the last couple of years but are now putting downward pressure on the broad market.

Summary of Models

Index & Sector Performance Summary