Highlights
- Although there are many good charts, there are many more bad ones, reminding us that the market regime contains a lot of potential risk.
- Only 32% of stocks in weekly uptrends; short‑term breadth overbought in context of weaker intermediate trends, so most rallies meet resistance, not durable upside.
- S&P 500 rallying into Quarterly Momentum Zone (QMZ) on declining volume; overbought without repair raises odds of checkback toward recent lows.
- Restrain enthusiasm, keeping new buys small (both individual and aggregate),
