The earnings momentum trend rolled over last week. Our Macro Health Check now shows red lights (4) outnumbering green lights (2).
Why It Matters: The June stock market lows came with a macro backdrop that was challenging but stable. Stocks don’t move on good and bad, they react to better and worse. The macro environment is getting worse and holding support levels is more of a challenge.
In taking a Deeper Look we will pull back the curtains on this checklist. We also look at how these latest developments are being reflected in investor risk appetite and where new risks might be developing.
