This past week the generals (NDX 100) continued to advance (up 0.1%), whereas the troops (Russell 2000) continued their retreat (down -0.43%), explains Buff Dormeier of Kingsview Partners.
Overall, capital outflows outpaced inflows by $47.2 to $36.4 billion. Likewise, the Advance-Decline Line gave up ground this past week but continues to rest above its trend. On a positive note, Capital-Weighted Volume closed up for the week, making a new 2023 high.
S&P 500 (SPX) capital flows are still trending higher, indicating a volume analysis bull market is still in place. Yet, the S&P 500 price index is still currently trapped between 4000 support and 4200 resistance. Until a victor prevails, investors should view this action as consolidation within the trading range.
Updated: 5/8/2023
Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services are offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser.
Learn more about Buff Dormeier here.
