TLT Looks to Bottom, SPX Outperforms Equal Weight

Weekend Nov 19 2023

Here is the weekly chart  of TLT, I  marked off five waves down, which seems confirmed by  PMO and RSI

 TLT up  close         daily

Here RSI and PMO extended let's wait for a pullback to buy. Thee fourth wave high at  104  on the weekly chart is a good target.

SPX versus SPXEW

The dark line is the weighted SPX where the seven tech stocks cominate the performance. The red black bars are the equal weight SPX where each stock counts the same, it is underperforming, this will not last and is a precursor to a downturn.  But it is only up from the seasonal low in late Oct so it can easily last into the new year.