The market performance year-to-date (YTD) has been anything but bullish and in my video breakdown below I go exactly why. There are only three sectors that are positive YTD, which points, in our view, to the idea that we are still definitely in the midst of a pretty bearish market overall.
While we may not be in a textbook definition of a bear market, sinking 20% from highs, we are in a weak market. This is evidenced by the fact that Communication Services, Tech, and Consumer Discretionary are the only sectors that are squeezing out some gains for market participants. In a healthier, more bullish market you would expect to see more sectors contributing to the market going higher.
However, in a more short term view of the market, things looks like they could be bullish, at least for this week as we ended last week on a bullish note. Of the sectors mentioned above, we will be focused on Tech.
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