In today’s briefing:
- Coasting as We Stalk for Buying Opportunity; Downgrading Discretionary to Underweight
Coasting as We Stalk for Buying Opportunity; Downgrading Discretionary to Underweight
- We had been near-term bullish on the S&P 500 (SPX) since our 4/22/25 Compass, however, we are officially downgrading our near-term outlook to neutral
- The SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM) are breaking below their 50-day MAs and are also violating their multi-month uptrends, signaling a consolidation period is here
- Still, our intermediate-term outlook remains bullish (as of 5/14/25 report), and we’ll maintain our bullish intermediate-term view as long as market dynamics remain constructive and the SPX is above 6200
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