In today’s briefing:
- Downgrading Utilities & Staples to Market Weight; Buy Ideas in Health Care & Trucking
Downgrading Utilities & Staples to Market Weight; Buy Ideas in Health Care & Trucking
- We are starting to see some positive signals that suggest the lows for this bear market may have already been established, or that additional downside is limited from here.
- We need to see downtrend reversals (get above 4030-4040 on SPX, $189 on IWM, and $115 on IWC) and for the NDX(QQQ) to break above $315, to get more constructive.
- Positive signals include, among other things: the Financial Sector (XLF) and Broker-Dealers/Exchanges ETF (IAI) are reversing topside their 4-5-month downtrends.
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