Weekly Market Summary

Our overall market view remains positive. There were no changes in our model this week: trend and breadth remain strong while sentiment and macro expectations remain headwinds. As we have said, trend and breadth are the main drivers; the others are headwinds, tailwinds and tea leaves.

Trend: the 10th week out of the last 11, a majority of sectors and indices close >13ema. This week: all 4 indices and 9 of 9 sectors.