In today’s briefing:
- Downgrading Staples to Underweight; New Leaders Still Leading As Prior Leaders Consolidate
Downgrading Staples to Underweight; New Leaders Still Leading As Prior Leaders Consolidate
- We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&P 500 (SPX) is above 6028-6059.
- Shorter-Term, the SPX violated its 3.5-month uptrend yesterday, but managed to rally back to the breakdown level by yesterday’s close.
- We would not yet call this a decisive breakdown, and we are on the lookout for a potential reclaim back above this uptrend at the 6425-3430 level. Or consolidation?
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