Three Big Negatives Overshadow the Uptrends in SPY and QQQ
SPY and QQQ remain in long-term uptrends, but three big negatives are currently hanging over the stock market. Two negatives are tied to important cyclical groups and the third is reminiscent of summer 2022. The semiconductor business is cyclical and the Semiconductor ETF (SOXX) is one of the weakest industry group ETFs. Housing is an important…