If you missed it, I broke down this dashboard and how I actually use it in my process during my weekly show.
Week over week, short-term breadth cooled across the offensive complex, most notably Technology and Communication Services. That shows up clearly in the 5–20 day columns and looks like normal digestion after a strong run, not structural damage. More importantly, rotation is flowing into economically sensitive areas like Financials and Industrials, where longer-term participation remains firm. When leadership rotates within cyclicals, it usually tells you the breather elsewhere is just that, a breather, not the start of something more sinister.
The Stalk List
$XLF - Financials
Financials are pulling back into logical support after a clean breakout and remains in a well-defined uptrend.
As long as price holds this range, all-time highs firmly in play.
$BAC - Bank of America
Bank of America continues to act like leadership, holding higher lows and pressing against former resistance turned support.
This is exactly what you want to see from large-cap banks if Financials are going to keep leading.
Losing the recent range would slow things down, but so far the trend remains intact.
$AXP - American Express
American Express is another consumer finance name acting right, consolidating above its recent breakout and holding VWAP support.
Momentum has cooled without breaking structure. If buyers defend this area, the next leg higher stays on the table.
$SOFI - SoFi Technologies
SOFI continues to carve out a large base beneath former resistance ahead of earnings later this month.
This is the type of consolidation you want to see after a sharp advance.
Resolution higher would put this back in motion, while patience is required until price confirms.
$XLI - Industrials
Industrials looks close to resolving higher out of a multi-month consolidation.
The range is tightening, trend support is rising, and momentum remains constructive.
A breakout here would confirm Industrials as a key non-tech leadership group.
$ITA - Aerospace and Defense
Defense continues to lead within Industrials, with ITA breaking higher after a failed breakdown.
That fake out followed by strength is classic bullish behavior. As long as this breakout holds, leadership remains intact.
My Two Cents
Overall, this is what healthy expansion looks like. While parts of tech like Semiconductors continue to work and Software struggles to find its footing, leadership is broadening into Financials and Industrials. That rotation under the hood is why this still looks like a market riddled with opportunity to add exposure.
