Below are highlights from the NDW Morning Update Video for the morning of 07/23. Access the the video on the NDW Morning Update Video page. 

• Crude Oil (CL/) led yesterday’s performance, advancing 2.95%, followed by Gold (GC/), which gained 1.85%. Despite the strong daily gains, both assets remain well below the highs reached earlier this year.
• The Nasdaq Composite (NASD) completed a double bottom breakdown at 25,400, generating its second consecutive sell signal. Even so, the index remains up by double digits year to date and is currently trading near an area of initial support.
• The S&P 500 Index (SPX) remains on a sell signal following its double bottom breakdown at 7,300. Despite the technical weakness, the index ranks 3rd out of 134 asset groups on the Asset Class Group Scores page, underscoring its relative strength versus the broader universe.
• The Technology sector continues to experience technical deterioration. Within our DALI sector rankings, the sector has lost 13 signals over the past week, highlighting a rapid decline in underlying technical conditions. Nevertheless, Technology remains firmly in second place and maintains a comfortable lead over the third-ranked Healthcare sector.
• This week’s featured report revisits Monday’s feature, “Technology: Extreme Volatility, Normal Correction.” The analysis examines the recent volatility across the technology sector, explores the magnitude and frequency of historical drawdowns, and provides context for how current market conditions compare with past corrections.