The Sunday Stalk List | Ep. 39

Welcome back to The Sunday Stalk List.

Every weekend, I review hundreds if not thousands of charts across U.S. indices, global markets, breadth, sentiment, and intermarket relationships.

And now I’m opening up my stalk list.

The names that stood out the most from my review.

This Week’s Theme: A Clean Punch

This week the bears finally landed a clean one.

Look, I’m not here to play the “there’s always a bull market somewhere” game. 

The tape is messy right now, and most of the pitches out there aren’t ones I’m swinging at.

This week is less about new leadership and more about key levels. 

Levels where the bulls need to step in and land a counterpunch.

I did some bottom fishing in Software names which I walked through on Friday, but the reality is most of these charts need to prove something first.

Let’s get into it.

Breadth - "The Market of Stocks"

If you missed it, I broke down this dashboard and how I actually use it in my process during my weekly show.

The bears landed a clean punch this week. 

Short-term participation across the S&P 500 collapsed almost everywhere. 

What stands out most is that the “boring but beautiful” areas of the market finally caught down to the “sexy but messy” ones. 

For months the market had a split personality. The Yin and Yang Market. 

Technology, Discretionary, and Communication Services were messy underneath, while Energy, Utilities, Staples, and Materials kept the broader participation picture alive. 

That support faded this week.

The defensive leadership didn’t completely break, but participation pulled back sharply in the short term. 

But in the short term, the bears clearly won the round.

The Stalk List 

No need for much commentary this week. The bears landed some clean punches and the tape shows it.

The charts lay out the levels pretty clearly. These are the spots where the bulls need to step in and throw the counterpunch. 

SPY — S&P 500

XLK  — Technology

XLI — Industrials

XLB — Materials

XLV — HealthCare

 

XLP — Staples

 

 

You can see the bears landed some clean punches this week.

Now the bulls need to step up and land the counterpunch.

Anyway, that's my two cents. 

My Current Buy List 

I went through some of my Buy List Friday.

If you missed it, throw it on 1.5x speed and let it rip.

And if you enjoy it, hit the like button. It’s the easiest way to show some support.

Much love.