Broadening Divergence Remains in Vogue The campaign continues to fragment along familiar lines. Broadening divergence remains the dominant theme, consistent with the broadening wider and deeper narrative, rotating away from narrow leadership and into broader ranks. The capital weighted S&P 500, represented by the SPDR S&P 500 ETF Trust, declined -1.28% on the week. The […]
From Strange Brew to Mixed Bag Last week, we characterized market conditions as a strange brew. This week that brew turned into a mixed bag, as the broadening theme reasserted itself through forceful divergence across leadership tiers. What appeared on the surface as disorder increasingly resembles waning fuel rotation. The generals took notable damage this […]
Strange Brew Markets often finish mixed, but this past week delivered a particularly strange brew. While headline price action appeared benign, the underlying rotation and volume behavior told a far more nuanced story. New highs were attempted, leadership fractured, and participation failed to fully confirm in some ways reinforcing the broadening we have highlighted previously […]
The shortened four-day week opened with a sharp test of conviction. Tuesday began with a decisive 95% downside Capital Weighted Volume day, marked by heavy downside activity on average total volume. That early pressure was met swiftly. Wednesday the 21st delivered an 80% capital inflow day alongside 85% upside capital weighted volume day, though participation […]
Volume Analysis Flash Update – Ranks Widen The S&P 500 finished slightly lower on the week as headline price paused, while the broader market continued to display underlying strength. On balance, activity reflected a market in transition rather than retreat, with leadership rotating and participation widening beneath the surface. For the week, S&P 500 Capital […]
This past week marked a clear shift in leadership as the troops took control of the advance. The iShares Russell 2000 ETF led the charge, surging 4.68% and breaking decisively above prior resistance. The broader ranks followed with conviction. The Schwab US Dividend Equity ETF advanced 2.92%, while the Invesco S&P 500 Equal Weight ETF […]
Volume Analysis Flash Update As the market closed the final chapter of 2025 and opened the first page of 2026, conditions softened with a broadening tone that favored relative defense over leadership. The S&P 500, represented by the SPDR S&P 500 ETF Trust, declined roughly 1% on the week. Leadership retreated more sharply, with the […]
During the shortened Christmas week, most units responded with modest gains, but only the S&P 500 Index successfully broke free of its recent range to press into new all-time high territory. While the S&P 500 price index achieved fresh ground, the supply lines told a more restrained story. S&P 500 Capital Weighted Volume came in […]
A Red-Nosed Rally The market started the week before Christmas a little dull and slow,Prices shuffled sideways while we waited Fed signals to show.But then on Friday afternoon the generals took the lead,The artificial intelligence trade woke up displaying speed. The S&P 500 closed just barely up the week,Up a tenth of one percent though […]
Divergent Orders at the Front The market spent much of the week in a holding pattern, awaiting direction from the Federal Reserve. With the Christmas backdrop encouraging a temporary stand down, price action appeared orderly on the surface. Beneath that calm, however, the flanks clearly received different marching orders. For the week, Capital Weighted Volume […]