Library Archive
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- Major equity markets moved lower over the past trading day, with the Dow Jones Industrial Average ([.DJIA]) declining 2.19% and the iShares MSCI Emerging Markets ETF ([EEM]) falling 2.07%.
- The Technology Select Sector SPDR Fund ([XLK]) continues to trade well below its recent highs. Meanwhile, improving relative strength within the healthcare sector has allowed healthcare to reclaim a higher position than technology in our DALI sector rankings, signaling a shift toward more defensive leadership across the market.
- The Invesco QQQ Trust ([QQQ]) remains under pressure and has continued to trend lower. The ETF is now down approximately 10% from its recent peak, officially entering correction territory. Much of this weakness has been driven by ongoing deterioration in the technology sector.
- U.S. GDP growth came in below expectations, with consensus estimates calling for approximately 2.1% growth versus an actual reading of 1.5%. The softer-than-expected economic data could create additional headwinds for growth-oriented sectors in the months ahead.
- Apple ([AAPL]), Amazon ([AMZN]), and Coinbase Global ([COIN]) are among the most closely watched companies scheduled to report earnings after the market close. From a technical perspective, AAPL maintains a strong TA score of 5/5 and continues to trade on multiple buy signals. In contrast, both AMZN and COIN carry weaker technical profiles, each holding a TA score of 1/5.
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