This presentation explores tailwinds and headwinds, domestic price trends, sentiment, seasonality, crude oil, interest rates, U.S. dollar strength, and much more. Financial advisors are encouraged to watch this presentation replay for a comprehensive understanding of the market trends and indicators.

Labor Day is a celebration of the social and economic achievements of American workers. In my opinion, Wall Street is a similar celebration and reflection of the ingenuity and entrepreneurial desire of the human spirit. And last week, Wall Street celebrated.

Following recent near-term positive/supportive oversold stochastic levels accompanied by large intraday price swings, the S&P 500 just posted its first positive week in August, breaking a 3-week downtrend. If stocks have settled down, this begs the question…What’s the Next Card in the Deck?

Higher interest rates are weighing on equities, and focus will be on the Fed’s conference this week.

Considering the S&P 500’s (SPX) bearish short-term Outside Reversal and move below support, the SPX’s target being met, excessively optimistic sentiment, and a seasonally sloppy period for equities (August/September), Wall Street’s narrative has been about both bullish and bearish non-price-related macroeconomic themes.

This week's Tech Talk highlights the S&P 500's proximity to resistance levels, indicating a potential short-term pause/pullback. The achieved 4600 target came with a potential bearish "Outside Reversal Day" pattern. Gasoline's positive momentum remains bullish. Market trends may develop over months, not days.

Explore the recorded Technical Analysis webinar with Art Huprich, CMT. Gain insights into equity markets, supply-demand dynamics, rotation opportunities, and more. Watch the replay to enhance your financial expertise!

S&P 500's uptrend faces potential selling pressure and resistance. Earnings season adds uncertainty. Monitor NYSE Advance-Decline Line, seasonality, SP500 support, US Dollar Index, banks, and treasury yield index. Headwinds building.

Domestic equity market proxies ended lower last week. Within the context of the SPX’s uptrend, large cap growth/technology/SPX’s short-term momentum has indeed started to churn.

Last week, amid the S&P 500's uptrend, showed renewed upside participation after a stall. "Listen to the market, don't force your opinion on it," advises David Lundgren. Mid-Caps and Small Caps outperformed Large Cap Growth/Technology in June, a trend needing continuation. Smart Sector strategies offer discipline and support.

NDR Catastrophic Stop Loss model advises staying invested, but short-term resistance is shifting lower. Overbought sentiment and lack of broad upside participation may hinder SPX trend. Market tools show declines, US equities to rebalance. Cycle composite turns into headwind.

Watch the Day Hagan Technical Analysis: Sentiment, Rules of Research, & Participation, recorded on June 20, 2023, for market insights. Art Huprich talks about following objective indicators & watches concentration and leadership rotation. Wider participation is needed. Watch the banking sector. The importance of breadth and sentiment is emphasized.

Since the beginning of June, people are playing “catch up” in the domestic equity market by buying relative strength laggards (economically sensitive, non-growth, regional banks, small/mid-caps, energy) and taking profits and/or reducing buying the former relative strength leaders (large and mega-cap growth).

It was helpful getting on the right side of our benchmark, the S&P 500 (SPX), in mid-October/November 2022, noticing the relative strength shift to Growth in late January, the start of price stability and basing by the Bank complex and the recent uptick by Small Caps.

The Day Hagan/Ned Davis Research Smart Sector® for Global Balanced Portfolios was recorded on May 29, 2023.

As with the negative Advance-Decline Line divergence from late 2021, A/D Line divergences can last a while before being felt. While most technology-related proxies (SPX, NDX, XLK/SMH, “FANG+,” etc.) are reflecting Mad Magazine’s Alfred E. Neuman slogan, “What, me worry?” A/D Lines are again negatively diverging from underlying equity market proxies.

The Day Hagan Technical Analysis was recorded on May 23, 2023. Art Huprich, CMT, shares his monthly chart jamboree. He discusses Equity Markets, the regional bank crisis, the debt ceiling debate, and other financial market topics.

KISS (Keep It Simple, Sam): A push below 4098 would increase the odds of a retest of 4050 to 4045 support, which, if broken, would signal a bearish trend reversal. Alternatively, a push above resistance between 4190 and 4218 would suggest a continuation of the move higher since mid-March.

Having absorbed and contained some issues last week (Fed meeting, AAPL earnings, and April jobs report), on tap this week is the CPI (Wednesday) and PPI (Thursday). Day Hagan’s view is that inflation has peaked.

Much of the focus this week will be on what I call the noise: the Fed’s focus on inflation (May 3 interest rate announcement), additional economic reports capped off Friday by the April jobs report, and AAPL’s EPS report Thursday. Enjoy the whine—increased volatility in equities and interest rates.