Highlights
- Today's breadth divergence is clear in our work, despite many arguing the opposite.
- Not only is the market divergent since the 2021 internal peak, but it is once again divergent vs both the late 2024 peak and most recent highs.
- Additionally, the Dow Theory Sell Signal has progressed further, underscoring the growing disconnect between "old" and "new" economy...again.
- This divergence won't last, it never does, but it has the potential to persist longer than most expect.