I apologize for the late note, not getting it out on the regular schedule of Sunday night. I was competing in a CrossFit competition last week and didn’t return home until midnight on Sunday (unfortunately, watching the Super Bowl via poor Wi-Fi on the plane). Anyway, it seems the market didn’t leave me too far behind last week with a minor closer lower on the week and no change to the Maestro Model and little change in Risk Appetite. With Friday’s close, the SPX is just -1.5% from its all-time high and 5% of stocks are at a 52-week low with double that at a 3-month low. Still not seeing bearish breadth expansion but some stocks are still bleeding. Last week’s Spotlight chart looked at seasonality, which typically is favorable for stocks this week before late-month weakness has historically shown up. That doesn’t mean it must but simply shows the seasonal pattern.
This week’s Spotlight Chart asks the question, who will lead next?
Summary of Models
Index & Sector Performance Summary
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