Stock Market Summer Doldrums?

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Financial Sector ETF -XLF

• Besides tech, the financial sector was one of the strongest sectors, leading the market higher.

• Although there is more upside potential for XLF (Financial Select Sector SPDR Fund), in a few months it may start a multi-month correction.

• Strengths and weaknesses in XLF and QQQ should correlate with market in the next several months.

• We will examine XLF in more detail in the Pro newsletter.

Sentiment & Technical Analysis

• The CNN’s Fear & Greed Index is hanging there between Greed and Extreme Greed.

• McClellan Summation Index (NYSI) and McClellan Oscillator (NYMO) update. 

• NYSI (top) and NYMO (bottom) are getting weaker despite SPX rising to an all-time high.

• When NYMO drops below 0, it usually suggests additional downside action.

• When NYSI, a swing trend indicator, turns down/up it suggests that SPX will turn down/up.

• However, in strong stock market trends, these indicators can whipsaw.

• For example, indicators “sell” signals after the May SPX peak, only produced a sideways action in SPX.

BravoCyles on Youtube

• Watch this Long-term Ethereum outlook.

BraVoCycles on X

• Consider following me on X (former Twitter) in addition to the newsletter, as I often post valuable information there in real time between the newsletters. You're missing out if you're not following me on X.

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