Highlights
- Cyclical sectors are very oversold, reflecting investor angst with respect to today's impending tariff announcement.
- Our view is that, although structure is broken, stocks are still likely to rally in response to this oversold condition, almost regardless of what the President announces today.
- The risk is that a rally merely changes the current setup from oversold and broken to overbought and broken.
- Traders and advisors. . .
