Library Archive
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- Markets moved modestly lower over the past day (through 9/30). The S&P 500 ([SPX]) declined 0.25%, followed by the Russell 2000 ([RUT]) down 0.39%, the S&P 500 Equal Weight Index ([SPXEWI]) down 0.75%, and emerging markets ([EEM]) lower by 0.91%.
- The Percent Positive for the S&P 500 ([^PTSPX]) reversed lower in early September and has continued to deteriorate. The indicator now stands at 48%, signaling that fewer than half of the index's constituents remain in positive trends and suggesting underlying long-term weakness beneath the broader market.
- The technology sector climbed to the top spot in our DALI sector rankings last week and continued to strengthen, adding 15 signals over the past week (since 9/22) and reinforcing its leadership position. Healthcare remained close behind in second place, also showing relative improvement with a gain of 5 signals over the same period.
- On the earnings front, a few major companies are expected to report earning over the next week: Accenture PLC ([ACN] 3/5 TA Score on 10/1), NIKE, Inc. ([NKE] 0/5 TA Score on 10/1), and PepsiCo, Inc. ([PEP]).
- Yesterday’s research highlighted the latest reconstitution of the Invesco Dorsey Wright Momentum ETF (PDP). Despite a challenging Q3 amid shifting market leadership, the strategy rotated into areas of improving relative strength, with healthcare, technology, and select financials emerging as leaders while industrials continued to weaken.
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