Guy S. Ortmann, CMT is a successful equity research analyst/strategist with a proven track record, over the past two decades, of using a combination of technical and fundamental analysis for timely and profitable U.S. macro equity market and stock/commodity specific ideas for institutional and high net worth clients. His research has been published in many high visibility Wall Street publications. It is his view that both technical and fundamental analysis are absolute requirements for consistent portfolio performance.
Several 50-day moving averages for the indices have been violated.
Only one major stock index remains in a negative trend. Guess which one.
We would need to see some improvement in breadth and bullish technical violations on increased volume to become more encouraged.
We have lowered our near-term outlook again.
We are seeing chart and breadth deterioration, while sentiment remains a concern.
Valuation and investor sentiment are raising some yellow flags.
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