Callum Thomas: Stock market faces stealth correction with weak breadth

Callum Thomas: Stock market faces stealth correction with weak breadth
Stock market stealth correction and weak breadth

Callum Thomas highlights recent observations from this week's market charts. He points to a 'stealth correction' taking place in the stock market, with the equal-weighted S&P 500 down more than 5 percent from its peak.

Thomas also notes weakened market breadth and an increase in cash holdings among traders, as well as a resurgence in momentum stocks.

Thomas previously commented that S&P 500 volatility has tracked seasonal patterns, with specific credit market concerns in tech and AI sectors highlighted in his recent analysis. He also shares a weekly S&P 500 chartstorm blog post, featuring a range of chart sources and market-related accounts in his regular updates. These insights provide further context for his latest observations on market trends.

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