Analyst Commentary:

• SPX hit a new all-time high last week, advancing just under 1.6%. The percentage of S&P 500 stocks above their ten-week moving average rose to 64% last week, signaling that more stocks are participating in near-term upside action, which is positive for the index.

• Despite sitting behind domestic equities in our relative strength rankings, international equities have gained strength and maintained their highest signal count in over a year, demonstrating the strength in the asset class.

• Investor sentiment in AAII’s weekly survey is at its lowest since early May, with 50% of investors believing the market will decline over the next six months. Contrary to popular belief, low sentiment has been constructive for markets, especially near all-time highs.

• Oracle (ORCL) jumped 36% on Wednesday after posting strong earnings. Meanwhile, the technology sector surpassed financials to take second in our relative strength rankings, led higher by the ongoing strength of AI-focused areas.

• Materials are the most improved sector year-to-date within NDW sector rankings, now sitting in the top half of the first time since 2023, benefiting largely from the strength of gold and other metal companies.

Nasdaq Dorsey Wright’s Weekly Featured Chart:

To read more on Oracle and tech, you can read Wednesday's featured article HERE.

Major US Index Technical Review:

A summary of the performance of major indices, in addition to their Point & Figure information. 

The Group Score Minute:

Senior Equity Specialist Steve Raymond dives into the latest trends and changes within our Asset Class Group Scores. To listen now, click HERE or on the image below. 

Nasdaq Dorsey Wright Products:

The AdvisorShares Dorsey Wright FSM U.S. Core ETF (DWUS) is comprised of 2 ETFs—primarily in domestic large-cap equities—that demonstrate in our opinion, favorable relative strength characteristics.  During periods in which the Advisor believes the market indicates broad equity weakness and cash strength, the Fund invests in fixed-income ETFs with a short or ultra-short duration, money market funds, cash and cash equivalents.  To learn more about DWUS, Click HERE.

Want More? Don't Miss Out on Our Podcasts!

This week Ian and David discuss continued market participation changes and notable big tech movement... particularly from Apple (AAPL). . To listen now, click HERE or on the image below. 

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