Analyst Commentary:

• The S&P 500 (SPX) fell 1.9% last week, marking the fourth consecutive week of market declines. The index is now down 5% on the year and is 7% away from its January highs as Iran tensions continue, pushing markets into somewhat oversold territory.

• The Federal Reserve held rates steady last week but signaled fewer rate cuts and potential hikes given inflation uncertainty as conflict keeps energy prices higher. Meanwhile, ten-year treasury yields (TNX) are at 4.3%, up 0.3% from the start of March.

• The US dollar (DX/Y) has gradually fallen over the past year. However, it has recently rallied 4%, bringing it back to a buy signal on its PnF chart for the first time in a year. Further greenback gains would be a headwind for commodities and international equities.

• International equities moved ahead of commodities in our relative strength asset class rankings. While energy commodities have held steady, the asset class has been dragged down by pullbacks in precious and industrial metals.

• Value stocks continue to outpace growth stocks this year, a stark contrast to growth-focused leadership over the last several years. Value fund VTV is on pace to outperform growth fund VUG by more than 10% for just the second year since 2007.

Nasdaq Dorsey Wright’s Weekly Featured Chart:

 To read more on value and growth, you can read Monday'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.

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, we discuss how relative strength in basketball terms, review recent changes to our DALI asset class rankings, and highlight weakness from financials. To listen now, click HERE.

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