The S&P 500 has recently had a near-term sell signal triggered, during a week where many Tech stocks -- including Nvidia -- sold off harder than the general markets.
This shouldn't be a cause for major concern. But it explains why the market is down from it all-time high 10 days ago, and may likely have farther to fall until the overbought conditions are fully worked off.
The latest slowing CPE inflation data gave Wall Street a little more hope on Friday that rate cuts may not be pushed as far into the future as has been currently feared.
And this gave a boost to bonds, brining the US 10-year Treasury yield down to 4.5%.
Portfolio manager Lance Roberts and I discuss all this plus his firms latest trades in this week's Market Recap.
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