TopPicks from Keith Richards, president and chief portfolio manager, ValueTrend Wealth Management
FOCUS: Technical analysisThe U.S. market is in a yin-yang situation. On the positive side, a technical breakout on the S&P 500 and the Nasdaq Composite Index has occurred on the back of stocks involved in artificial intelligence technology. On the negative side, market breadth and investor sentiment are questionable.There are early signs that breadth is improving but it needs time to prove itself.The advance/decline line is rising, yet it hasn’t taken out its April high .
Regarding sentiment, some indicators show complacency. A low CBOE Volatility Index indicates early signs of complacency. A low score on the AAII bear index indicates too many bulls.
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