Breadth is finally perking up — over half the S&P 500 is back above its 10-week moving average, and equal weight reversed up against cap weight for the first time since 2023. But long-term trends still haven't turned, emerging markets are stalling as the dollar firms, and banks just flashed their first sell signal since the tariff tantrum. Miles and Joseph break down what's defendable, what's waving a yellow flag, and where the 10-year goes from here. Images were taken from the Nasdaq Dorsey Wright Research Platform (linked below).
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