The Sunday Stalk List | Ep.45

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.

The names that stood out the most from my review.

This Week’s Theme: Meh....

A few weeks ago we were talking about expansion. 

Then the market shifted into a healthy “catch your breath” phase as breadth cooled off while price held together.

Now? It's.....Meh.

Outside of semis and a handful of leadership names, this market has turned into a complete coin toss. 

For every chart that looks ready to break out, there’s another one rolling over into a failed move or chopping everybody to pieces.

The story right now isn’t broad strength or broad weakness.

It’s narrowing participation.

YES, the S&P 500 itself still looks great.

But this post isn’t about “The Stock Market.”

It’s about the “Market of Stocks.”

Don’t confuse the two.

Because underneath the surface, things are getting noticeably sloppier.

The problems aren’t fully confirmed by the index yet, but the stocks underneath are absolutely starting to notice.

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 Stalk List 

This week I’m going rapid fire.

You can see the charts look meh.

My commentary isn’t needed.

SPY — S&P 500 - Two Stories 

Price Looks Good...Support From The Market of Stocks....Meh...

RSP  — Average S&P 500 Stock 

XLB — Materials 

XLI— Industrials

XLC — Communication Services

XLV — HealthCare

XLF — Financials 

XLY — Consumer Discretionary

The Exceptions 

HEY HEY.

I’m NOT bearish.

Sometimes sharing mixed signals gets interpreted that way, but I’m just not going to cherry pick and pretend everything looks amazing when it doesn’t.

Most things right now are meh.

But yes, there are absolutely exceptions.

XLE - Energy 

If you don't have energy exposure - I'm not sure what to tell you.....

XLK - Technology

It's the largest and most important sector in the world...in a strong uptrend...so we have to keep the "meh" in context. 

Right now, the market is meh.

But it’s important to understand something.

“Meh” inside a bull market is still innocent until proven guilty.

Yes, participation is thinning out.
Yes, more charts are starting to fail.
Yes, things are getting noticeably sloppier beneath the surface.

But none of that matters unless sellers can actually produce downside follow through.

Until then, this is still just a messy consolidation inside a broader uptrend.

No need to force offense.
No need to slam the panic button either.

Anyway, that's my two cents. 

ALL GAS NO BRAKES Ep. 10

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20 Charts...20 Minutes

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Much love.