Analyst Commentary:

• The S&P 500 rose 3.36% over the past week, while the percentage of stocks trading above their 10‑week moving average rebounded from near washout levels, signaling that selling pressure has potentially diminished in the near-term.

• After five consecutive weeks of declines, broad domestic equity indices rebounded over the past week, supported by easing oil prices, resilient labor data, and a temporary relief rally tied to Middle East. Still, volatility remains elevated.

• The second year of a presidential term has historically been one of the weakest for U.S. equities, as fading policy optimism and rising midterm election uncertainty have led to slightly negative S&P 500 historical returns.

• Energy posted the largest signal gain in our relative strength rankings as Q1 concluded, rising by 130 signals. The next closest sector gained only 23 signals, underscoring how narrow broader sector leadership has been this year.

• While still relatively strong, technology and communication services saw meaningful erosion in our relative strength sector rankings during Q1, suggesting that market leadership has become less concentrated in traditional growth areas.

Nasdaq Dorsey Wright’s Weekly Featured Chart:

 To read more on Q1 performance, you can read Wednesday's featured article HERE.

Major US Index Technical Review:

A summary of the performance of major indices, in addition to their Point & Figure information. 

The Group Score Minute:

Senior Equity Specialist Steve Raymond dives into the latest trends and changes within our Asset Class Group Scores. To listen now, click HERE.

Nasdaq Dorsey Wright Products:

The AdvisorShares Dorsey Wright FSM U.S. Core ETF (DWUS) is comprised of 2 ETFs---primarily in domestic large-cap equities---that demonstrate in our opinion, favorable relative strength characteristics. During periods in which the Advisor believes the market indicates broad equity weakness and cash strength, the Fund invests in fixed-income ETFs with a short or ultra-short duration, money market funds, cash and cash equivalents. To learn more about DWUS, Click HERE.

Want More? Don't Miss Out on Our Podcasts!

This week, Ian Saunders and Joseph Tuzzolo discuss factor performances for US and International equities, Q1 performance for various asset different asset classes, QQQ's rocky quarter, Gold's reversal higher from oversold territory, and volatility within crude oil. To listen now, click HERE or on the image below. 

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