Mark Newton CMT

40,703 Twitter followers

Managing Director/Global Head of Technical Strategy, Fundstrat Global Advisors LLC-Technical Analyst/Trader, Frequent Market Commentator-CNBC, FOX, Bloomberg

Posts

Signal Clone Analysis

Mark Newton CMT

$VZ & many other Telecom stocks pressing up to multi-year highs as this trend towards Defensive positioning continues. NEW charts via @Marketsurge by #IBD @IBDinvestors What started off last year w/ Utilities, HC strength has now turned into full-blown Consumer Staples showing massive outperformance, Strong telecom gains, & Utilities stabilizing & turning higher just in recent days. While Utes strength is one thing.. seeing huge relative strength out of Staps over Disc & Telco rallying are not great signs while Tech struggles

Mark Newton CMT

$IGV (IShares Software ETF) actually broke down vs. Equal-weighted Technology ($RSPT) going back since 2007 on a monthly basis. While various names ARE near intermediate-term support, I doubt this proves to be the key inflection point which many are suspecting who are rushing out to pound the table on SaaS. So yes "a bounce" has happened, but relative to TECHNOLOGY.. hmm. If/when Semis start to weaken next month, there very well might be a mean reversion in Software, but count me as skeptical that February marks the lows for many of these names and/or that Software leads Technology anytime soon

BROKE

Mark Newton CMT

Similar to $MSFT the recent sharp correction in $ORCL failed to do damage to intermediate-term trends from '22 though momentum is still quite negative While i am encouraged about the possibility of a bounce out of the downtrodden Software group, i don't suspect this will prove easy given how sharply many corrected. Rebuilding in things that have been hard hit takes time and the degree to which many have come out of the woodwork to claim bottoms are in for SaaS names is a bit alarming. Furthermore, Software as a Group broke Long-Term support vs Equal-wgtd Technology going back since 2007. No Joke. Please re-read New Charts here from @IBDinvestors @marketsurge

SHARP

5.69%

Mark Newton CMT

Here's another one with ZERO perspective who's not a client and no idea that in DECEMBER i talked about BTC going to 60k and ETH to 1750. Sadly.. if youre NOT reading the notes or watching Videos or following the Webinars i do with Sean Farrell, you're NOT getting the research.. X is NOT a platform for free info.. Equal-dissemination of all work is a MUST fundstrat.com/Mark

CryptoFructo

@CryptoFructo

he called the bottom at 4200. hardly "perfectly"

$GLW - You don't see this every day, a stock exceeding former highs going back 25+ years. 3rd best performing stock today in SPX, higher by +7.5% @IBDinvestors @marketsurge This entire space has seen quite the run, & while certainly quite O/B, that's never something to make one fade a parabolic move back to new highs.. just yet. I sense consolidation in March but for now.. #IBDPartner

SPX