This week saw the continued flight to quality as return of capital became more significant than return on capital. This is evident with the TLT hitting all-time highs, and the Russel undercutting it's 30-Week moving average and entering Stage 4.
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| TLT Weekly |
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| Russell Weekly |
We're currently in a volatile and highly correlated market and as Stage 4 progresses keying in on the last basket of stocks still holding up well relative to the overall market becomes my focus for two reasons A) Further deterioration of the market will be evident by these stocks getting clipped and B) Looking for bases of those holding up well and signs of accumulation when the market transitions back to Stage 1.
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