Daily ETF Overview
Bears are in control of the tape, and several key risk-on areas are showing signs of further vulnerability.
Yesterday we highlighted the Consumer Discretionary vs. Consumer Staples ratio $XLY vs. $XLP. Today, that ratio made new lows.
Weโre also seeing deterioration in Home Construction $ITB, which just broke below its AVWAP from the YTD lows; a meaningful level for one of the marketโs most important cyclical groups.
The primary uptrends for the major indices remain firmly intact, but itโs still essential to adapt to shifting short-term conditions to manage risk effectively.
With multiple key ETFs breaking down simultaneously, that message has become even more important.
If you want a clearer read on where this market is heading, start with the full report.
It breaks down the internal signals driving this shift and what they mean for the months ahead.