From the desk of Steve Strazza @Sstrazza and Grant Hawkridge @Granthawkridge
We’ve been vocal about the strong market internals supporting equities for some time.
We’ve seen one extreme breadth reading after the next from just about all of the major indexes and sectors since last summer.
One index that hasn’t shown a bullish initiation thrust like its peers is the Nasdaq.
We recently pointed out the NASDAQ Composite showing a substantial deterioration in 52-week highs the past few weeks…
But there are still areas of the market with strong & expanding internals. Breadth data continues to be mixed just like we’re seeing from many asset classes right now.
Using equities as an example, while growth has been weak, value and cyclical areas remain strong.