This is still a problem
And even if you completely ignore seasonal trends, by just looking at some of the most important groups of stocks, you can see why it's been struggle city lately:
All of these groups of stocks are stuck below their late 2021 highs.
Technology, Industrials, Homebuilders and Semiconductors stopped going up at the exact same levels where they stopped going up last time they were up here.
The new 52-week high list peaked over 2 months ago, back in July.
Until these groups of stocks are able to break out above those former highs, the S&P500 is going to continue to have a hard time making any progress.
Seasonally, stocks should rip into the end of the year starting in October or maybe early November.
But without breakouts in these charts above, I'm not sure it will be that simple.
From the beginning of this correction, my thoughts were that while the indexes might struggle, there would still be monster opportunities in individual stocks and industry groups.
And that's exactly what we've seen!
We'll be discussing it all tonight on our LIVE Conference Call.
Bring your best questions!
See you tonight.
JC