The Mega Cap Tech Conundrum

Some Key Charts To Watch

Welcome back to my dumb little weekly letter.

The market’s getting a lot of air time just now because everyone’s worried about deteriorating breadth and recessions again so naturally they’re calling for more crashes and corrections.

Two weeks ago I said the following,

If we sat and had a beer, I’d tell you I’m less concerned with what’s going on at the index level, and probably more concerned about what a rug pull in the high fliers looks like.

But if we see the Equal Weight S&P500 break out to new all time highs while we get a rug pull in tech, I think that’s an environment that probably leaves the breadth gurus scratching their heads again and we’re getting the rotation.

In this weeks letter I’m going to cover the most important charts that I’m watching closely just now as well as a couple of solid looking trade ideas.

But lets start with a broad picture of the US Markets and a solid “get defensive” signal.

Yield Curve / S&P500 Signal

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