Highlights
- Despite additional weakness and only 46% of stocks above their 200-day moving average, the U.S. Risk Gauge remains unchanged, 62% of 200-day moving averages are still rising, and the LT gauge remains in Risk On.
- Utilities moving into the #3 spot is a defensive warning, but cyclical sectors are primarily short-term oversold while longer-term structure remains bullish enough to not be bearish.
