The second follow-through day on the S&P 500 index occurred last Friday. Progress over the next four to 13 weeks will be critical if the bull market is to continue. A second undercut increases the likelihood of a bear market.
U.S. Q1 seasonal setup is good, with strong average gains in the third year of a presidential cycle.
In both U.S. and European markets (many of which had follow-through days on Friday), still a lack of breakouts and actionable names, although the extremely low numbers have risen recently.
Actionable U.S. names include PLNT, WING, TEAM, and VEEV.
Developed actionable names include CPR.IT, AFXX.DE, NST.AU, and VITA.HK.
Emerging is better off, with more markets above their 200-DMA (Brazil, India, the Philippines, Indonesia, and Qatar) and more actionable names, although the overall breakout count is still low. Actionable names include TIT.IN, HDL.IN, CVC.BR, BMF.BR, and BCA.ID.
