From the desk of Willie Delwiche.

Key Takeaway: Energy and Financials looking for friends. Bonds remain under pressure, with German yields rising...

From the desk of Willie Delwiche.

Key Takeaway: Bond yields on the rise across the curve. Hints of leadership rotation can be seen in sector work....

From the desk of Willie Delwiche.

Key Takeaway: Indexes caught up to and are now catching down to the median stock. Price and pessimism can fuel a...

From the desk of Willie Delwiche.

Key Takeaway: Fed-fueled volatility exposes weakness beneath the surface. Breadth trends at odds with index-level resiliency. Drop-in yields...

From the desk of Willie Delwiche.

Key Takeaway: Mixed liquidity backdrop makes rebuilding risk appetites more of a challenge. Tailwinds that have fueled cyclical strength are tapering even if the Fed is not yet...

From the desk of Willie Delwiche.

Key Takeaway: Investors finding themselves with too much Technology exposure. Speculative unwind occurring as neglected areas of the market make new highs. Inflation concerns are...

From the desk of Willie Delwiche.

Key Takeaway: Stocks looking at a year two market. Stocks looking at a year of two markets. Economic surprises remain a tailwind for now but data struggling to keep up with...

From the desk of Willie Delwiche.

Key Takeaway: New monthly highs reflect broad participation and a healthy rally. Stocks struggle to celebrate blowout quarters if future growth prospects are not bright. Elevated...

From the desk of Willie Delwiche.

Key Takeaway: Stocks have benefitted from an historic stretch of good news. Commodities suggest higher inflation may not be transitory. Global breadth trends turning higher....

From the desk of Willie Delwiche.

Key Takeaway: New highs bring out the bulls. Excessive optimism offset by broad market strength in the US & around the world. Despite Fed assurances...

From the desk of Willie Delwiche.

Key Takeaway: Small-caps hit pause but remain market leaders. Another breadth thrust shows rally participation remains robust. Bond yields are digesting recent rise, but the path...

From the desk of Willie Delwiche.

Key Takeaway: New high lists are expanding, yet investors are turning more cautious. Weight of the evidence favors focusing on opportunity over risk....

From the desk of Willie Delwiche.

Key Takeaway: Crowded trades have come back to earth, but average stock and cyclical industry groups are making new highs. Economic momentum is building...

From the desk of Willie Delwiche.

Key Takeaway: Market volatility has not interrupted rotation to new leadership. Long-term breadth remains robust, but shorter-term trends are in need of repair. Earnings and...

From the desk of Willie Delwiche.

Key Takeaway: Financials & bond yields finished last week at new recovery highs.

They were joined by the most stocks ever on the NYSE + NASDAQ making new 52-week highs...