Library Archive
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- Monday’s trading (10/19) was relatively split between the names we typically look at. Towards the upside, risk on groups ([NASD], [SPX], [EEM]) rebounded after a somewhat rocky close to last week. On the other hand, the likes of gold ([GC/]) developed markets ([EFA]) and long-duration fixed income ([TLT]) struggled for the trading session.
- Overall chart movement was limited, seeing only [TLT] put in any movement on its default chart as it pushed one O lower. It remains a point of weakness among a poor fixed income group and should be avoided when possible.
- Last week brought a handful of interesting relative strength developments worth watching as we move into November. In terms of major movement: [SPXEWI] vs. [SPX] (equal weight vs. cap weight S&P 500) flipped back to favor [SPXEWI] in the short term as major leaders exhaled. Growth [RPG] moved lower against value [RPV] for the same reasons. Note that both [SPX] and [RPG] maintain their long-term strength.
- Tuesday morning’s earnings releases brought [GE] ~4% lower in premarket trading, and while it remains a 4/5 TA score name it recently broke a major trendline on its default chart. Keep a watchful eye over the name. [MMM] picked up roughly 2% off its report. It currently holds a 1/5 TA score and should be avoided for the time being. Netflix reports after close on 10/21. Having shed ~25% so far in 2026, it remains a low RS name heading into the call.
- In terms of notable names reporting on 10/21, monitor the likes of [META], [TSLA] & [LRCX], which all report after close. [PM] is a standpoint within a weak consumer staples sector. The 5/5’er remains in actionable territory for those of you looking for focused exposure to the group.
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