A Rising S&P Despite Weak Breadth: What’s Hot and What’s Not.
Breadth in the S&P is terrible. S&P is up 10% YTD but 45% of its constituents are negative.
US and international yields are moving higher. 4.80% is something to watch on the 10yr
Going higher: Oil, wheat, commodities, AUDUSD, AMD, Japanese rates, Coherent, Meta, Platinum
Stay away from: homebuilders, smallc-caps, “value”, Blackstone, CSX, shipping, rails, …
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