If you missed it last week, I broke down this dashboard and how I actually use it in my process during my weekly show.
Breadth continues to lean decisively offensive, with Discretionary, Technology, Communication Services, Industrials, and Financials all sitting comfortably above their intermediate and long-term moving averages.
More importantly, week-over-week momentum is expanding across those same groups, signaling improving participation rather than narrow leadership. Defensive sectors remain mixed at best, which tells me this is still a trend-following environment where pullbacks are being bought, not a market preparing for protection.
The Stalk List
$SMH - Semiconductors
Semiconductors are consolidating just below prior highs near 370 after a powerful trend off the April lows.
Price continues to hold well above the rising 200-day near 290, and pullbacks have been shallow and bought. If buyers can push through 370, this opens the door to trend continuation.
Losing 345–350 would signal this needs more time, not that the trend is broken.
IGV - Software
Software is compressing right at former resistance around 110, sitting directly on top of the rising 200-day near 106.
This is a classic reclaim-or-fail zone after a higher low from the April bottom.
Holding above 106 keeps the constructive case intact. A clean break and hold above 110 puts software back into leadership mode.
AAPL - Apple
Apple is coiling into a clean wedge near the top of its range after a strong recovery from the April lows.
Momentum has cooled while higher lows continue to compress price, which is exactly what you want to see in a healthy trend.
A break higher from this wedge would be one of the cleanest continuation signals on my board right now.
My Two Cents
Technology continues to act like a market that’s digesting, not distributing. The charts are tightening, momentum is resetting, and leadership names are coiling rather than breaking down. If this market is going to push higher, tech looks ready to be back in the driver’s seat.
