Lackluster Participation Doesn't Keep Indexes From Hitting New Highs

A rally fueled by improving expectations lacks broad support

May 11 • Willie Delwiche, CMT, CFA

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Stocks Are Rallying, But Leadership From Commodities Persists

New highs are bullish, but the lack of a breadth thrust could limit the rally's sustainability

May 4 • Willie Delwiche, CMT, CFA

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April 2026

Renewed Appetite For Risk Fuels Rally To New Highs

Lackluster participation beneath the surface could dampen rally's staying power

Apr 26 • Willie Delwiche, CMT, CFA

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Surface-Level Rally Looks For Lasting Support

The indexes have bounced and quickly moved to new highs but a broader look at the evidence shows a slower turn higher.

Apr 20 • Willie Delwiche, CMT, CFA

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Stocks Bounce, But Questions Persist

Headline improvements are not producing the strength beneath the surface that argues that a buildable low is in place.

Apr 13 • Willie Delwiche, CMT, CFA

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Amid Volatile Headlines and Broad Weakness, Stocks Try To Rally Support

Big daily moves are usually a sign of broad weakness, not evidence of sustainable strength

Apr 6 • Willie Delwiche, CMT, CFA

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March 2026

Evidence Suggests Stocks Are On Path To a Bear Market

While a near-term bounce is possible, investors should position for more weakness ahead as deterioration has been significant but not yet extreme

Mar 29 • Willie Delwiche, CMT, CFA

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From Healthy Re-set to Negative Feedback Loop

The weight of the evidence reflects broad deterioration and shows that risks exceed opportunities

Mar 23 • Willie Delwiche, CMT, CFA

12

Bulls On Borrowed Time?

Breadth breakdown is becoming a tactical headwind at a time when the cyclical rally is struggling for support

Mar 15 • Willie Delwiche, CMT, CFA

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Global Breadth Breaking Down

Stocks have been buoyed by quiet strength, but that tailwind is dissipating

Mar 8 • Willie Delwiche, CMT, CFA

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Risk Management Matters

Evidence that bulls may be heading for the exits highlights new risks for the bull market

Mar 1 • Willie Delwiche, CMT, CFA

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February 2026

Bull Market Behavior Is Being Rewarded

The mega-caps are lagging, but the weight of the evidence is improving

Feb 23 • Willie Delwiche, CMT, CFA

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