SmarTrend Weekly Update
The SmarTrend Global Portfolio had a rebound in Uptrends last week, consistent with the rise in equity markets. The number of Uptrends vs. total trends rose to 56%, up from 47% in the prior week. A continuation of this rise will be necessary for the markets to break above resistance at 1100 in the S&P and 10,300 in the Dow. The average Uptrend now stands at 108 days, down from 125 while the average return ticked lower to 38.5%, down from 41.5% in the prior week. This suggests that a rotation is occurring where some winners in the prior up cycle were sold and laggards are now being picked up. Check our Morning Call newsletter for insight as to which sectors are leading this rotation and keep an eye out for new trend alerts in those sectors.
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