The S&P 500 and Nasdaq 100 closed down for the week, marking only the third negative week since the rally that began in November. Notably, last week also saw the largest outflow ever from the tech category, surpassing $4 billion.
Perhaps influenced by the covers of Barron’s and The Economist, with The Economist asking, “How high can markets go?” and Barron’s displaying "Bet on the Bull," there is a heightened sense of curiosity about market peaks. Last week, I emphasized the importance of three correction criteria, which, when triggered, I believe will signal a significant market decline as the next probable move.
This weeks note is chart heavy and word light— reviewing the three correction criteria status, along with updated charts for the three categories of trade ideas, “Outside US Equities”, “US Small Caps”, and “The Gold Trade”.
Unlock access to every Sunday note, along with trade ideas aimed at capturing potential outperformance. Upgrade your subscription today with monthly and annual options available.