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Where, oh where, really is Gonzaga University?

Head coach Mark Few has made the school a powerhouse in college basketball and put Gonzaga on the national map. To that end, while the Bulldogs are on the map, they’re also, well, kind of hard to find on one.

For inquiring minds, here’s what to know about Gonzaga’s location:

Where is Gonzaga University?

Gonzaga’s main campus sits in Spokane, Washington, about a half hour’s drive from the western state border of Idaho. It’s 279 miles east of Seattle, and 320 miles east of Olympia, Washington, the state capital.

FOLLOW THE MADNESS: NCAA basketball bracket, scores, schedules, teams and more.

Founded in 1887, the school was known as Gonzaga College until 1912. Gonzaga is a member of the West Coast Conference and joined in 1979.

Has Gonzaga ever won a national championship?

The ‘Zags are still waiting to be the last squad standing at the end of March Madness. Coach Mark Few has helped guide the team to two national championship games (2017, 2021), six Elite Eights and 25 straight NCAA Tournament appearances.

The Bulldogs flirted with an undefeated season in 2021, losing to the Baylor Bears in the national championship game. In 2017, they lost to coach Roy Williams and North Carolina in the final.

This post appeared first on USA TODAY

With less than a month left until the 2024 NFL draft, not even the top of the order seems fully set.

In swinging a trade with the Houston Texans two weeks ago for an extra first-round pick, the Minnesota Vikings seemingly positioned themselves for another potential deal to move up the draft board to grab Kirk Cousins’ long-term replacement at quarterback. Vikings general manager Kwesi Adofo-Mensah, however, said the move was driven by adding ‘flexibility’ to the team’s draft plan. But even in the event that Minnesota doesn’t try to swing a deal to move up, another quarterback-needy team could try to secure the No. 4 pick from the Arizona Cardinals to grab a passer, which would mark the first time in history that four signal-callers were taken with the first four selections in any class.

With that in mind, here’s our latest 2024 NFL mock draft, which features a projected trade in the top five picks:

1. Chicago Bears (from Carolina Panthers) – Caleb Williams, QB, USC

Both Matt Eberflus and Ryan Poles were on hand for Williams’ pro day, and the quarterback is set to visit the Bears next week. While those parts of the pre-draft process are not formalities, they might as well be in this instance. There’s no point in entertaining a scenario in which Williams doesn’t go No. 1 to Chicago at this point, as it would seemingly take a downright stunner for something different to happen. This might be the only point of consensus we’ll have in the coming weeks.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

2. Washington Commanders – Jayden Daniels, QB, LSU

The certainty that surrounds the first overall pick doesn’t extend to No. 2, at least right now. And while new Commanders coach Dan Quinn said it’s ‘fair to envision’ his team will select a quarterback in the draft, general manager Adam Peters said ‘we’re far from our answer,’ noting that there was still work to be done in evaluating the top passers. Despite all that, there’s plenty that makes sense about the potential fit between Daniels and Washington, even if there would be a steep learning curve for the Heisman Trophy winner as he goes from one of the most favorable offensive setups in college football to one of the least auspicious ones in the NFL.

3. New England Patriots – Drake Maye, QB, North Carolina

Whatever the motivation was behind his comments, new Patriots coach Jerod Mayo had no problem talking up Maye at the NFL’s league meetings this week, saying ‘there really is no ceiling with a guy like that.’ But Mayo also suggested that the 6-4, 223-pound passer’s ‘floor’ might be lower than what his peers offer given his relative shortage of experience. Still, in this scenario, the answer is clear for New England: Take Maye and institute a setup in which he doesn’t have to play the world-beater role that he often defaulted to at North Carolina, typically to his own detriment.

4. Minnesota Vikings (proposed trade from Arizona Cardinals) – J.J. McCarthy, QB, Michigan

A bold move for both sides in this potential trade, to be sure. For Arizona, there’s risk in dropping too far back – perhaps out of range of the elite receivers in this class. Minnesota, meanwhile, would be mortgaging its future for a shot at perhaps its fourth choice at quarterback. Yet after picking up that extra first-rounder in the trade with the Texans, the Vikings might be positioning themselves to do just that. While McCarthy is proving to be quite the polarizing prospect in draft circles, landing in a spot where he could be mentored by Kevin O’Connell and sling the ball to Justin Jefferson might be the best-case scenario for his development.

5. Los Angeles Chargers – Marvin Harrison Jr., WR, Ohio State

Could a Michigan man really launch his Los Angeles tenure by taking the ex-Buckeye great? A mad scramble for passers no doubt would benefit Jim Harbaugh, who must find reinforcements for a receiving corps that looks to be one of the league’s iffiest after the Bolts sent off Mike Williams and Keenan Allen. And while Malik Nabers and Rome Odunze should be in the conversation, landing a transformational target like Harrison is the kind of possibility Harbaugh could only have dreamed of just a few weeks ago.

6. New York Giants – Malik Nabers, WR, LSU

As far as X-factors for quarterbacks go, the Giants are a fascinating possibility. Hedging their bet on Daniel Jones by securing either McCarthy or Maye, should either be within reach, must be a strong consideration. Obtaining one of those signal-callers, however, might necessitate a trade, which could be difficult for the retooling franchise to stomach. There should be no problem with taking Nabers and calling it a day, as New York’s offense would finally have the go-to target it has long lacked.

7. Tennessee Titans – Joe Alt, OT, Notre Dame

In a relatively restrained opening to NFL free agency, Ran Carthon stood out by making a splash on several fronts – most notably signing wide receiver Calvin Ridley to a four-year, $92 million contract before swinging a trade with the Kansas City Chiefs for cornerback L’Jarius Sneed. The most glaring missing piece from the offseason plan is a left tackle to fill in for Andre Dillard, who was cut after one disappointing season. Alt looks like just the right kind of player to slot next to 2023 first-round pick Peter Skoronski as a crucial bodyguard for Will Levis.

8. Atlanta Falcons – Dallas Turner, OLB, Alabama

This has widely been projected to be the Falcons’ pick ever since the draft order was set. Will conventional wisdom hold, or could this be a spot for a surprise? For now, there’s no point in overthinking it. An electric edge rusher is the easy pick for a unit that can’t reliably pester opposing quarterbacks.

9. Bears – Rome Odunze, WR, Washington

As Chicago’s brain trust looks to set up its new signal-caller for immediate success, bringing aboard Keenan Allen stands out as a savvy move for a franchise flush with cap space. Yet it shouldn’t prohibit the addition of another top-tier receiver like Odunze. With his knack for hauling in contested catches and threatening defenses with his full route tree, he would form a sizzling connection with Williams.

10. New York Jets – Brock Bowers, TE, Georgia

Gang Green took care of its most pressing offseason task by overhauling the offensive line, emerging with new bookends in Tyron Smith and Morgan Moses, as well as offensive guard John Simpson. There’s still work to be done in the receiving corps, however, even after the addition of Mike Williams. Bowers’ extensive résumé as a run-after-catch threat indicates he could be an immediate asset to Aaron Rodgers as an underneath target while Williams and Garrett Wilson work deeper downfield.

11. Cardinals (proposed trade from Vikings) – Brian Thomas Jr., WR, LSU

This might seem early for a pass catcher who typically has been viewed as in the next tier down from the top three players at his position. But 6-3, 209-pound targets who average 17.3 yards per catch and have 4.33-second speed in the 40-yard dash don’t tend to hang around long. If he hones his routes and demonstrates he can beat press coverage more reliably, Thomas figures to be the kind of dynamic threat this offense desperately needs, especially after losing Marquise Brown in free agency.

12. Denver Broncos – Bo Nix, QB, Oregon

Sean Payton left the door open for a possible trade up the draft board to target a top quarterback, but pulling off such a maneuver could be too costly for the Broncos to bear. With no second-round pick following the deal with the Saints to land Payton last year, Denver might have to take its shot at a signal-caller in this slot. With his extensive experience and accuracy both inside and outside of structure, Nix could be a solid fit for what Payton is looking for.

13. Las Vegas Raiders – Taliese Fuaga, OT, Oregon State

Las Vegas looks to be firmly in the mix to take a quarterback on one of the first two days of the draft, though coach Antonio Pierce said second-year passer Aidan O’Connell has earned the right to compete for the starting role. With the top five signal-callers already accounted for here, however, there’s no need to force the issue. Grabbing Fuaga to hold down the right side of the offensive line would make for a measured start to Tom Telesco’s tenure.

14. New Orleans Saints – Olumuyiwa Fashanu, OT, Penn State

Installing a 21-year-old to serve as Derek Carr’s blindside protector might seem to run counter to the Saints’ win-now philosophy, but turning back to Trevor Penning looks untenable – and right tackle Ryan Ramczyk’s career could be in jeopardy due to a knee issue. There might be some early rough patches with Fashanu as he learns how to harness his impressive physical tools and deploy a consistent technique, but the upside is worth the investment here.

15. Indianapolis Colts – Quinyon Mitchell, CB, Toledo

Winning an expensive bid for L’Jarius Sneed never seemed like a reasonable outcome for the Colts and ever-cautious general manager Chris Ballard. To address the shaky secondary, however, Indianapolis can import a dynamic playmaker in Mitchell, whose athletic traits and demeanor are custom-fit for a top-flight NFL cornerback.

16. Seattle Seahawks – Troy Fautanu, OT/G, Washington

After firming up their commitment to Geno Smith as their starting quarterback, the Seahawks can further support their signal-caller by affording him some sorely needed help on the interior. New offensive coordinator Ryan Grubb is plenty familiar with Fautanu from their time together at Washington, though the former left tackle’s appeal as a fleet-footed guard should be readily apparent to any coach.

17. Jacksonville Jaguars – Terrion Arnold, CB, Alabama

Doug Pederson acknowledged Monday that Jacksonville is back in the role of ‘hunter’ in the AFC South after fumbling the division crown down the stretch. In order to better slow down C.J. Stroud and the Texans in the years to come, the Jaguars would be wise to take a long look at Arnold, a sticky asset for man coverage who should help new defensive coordinator Ryan Nielsen deploy the aggressive tactics he’s hoping to unleash in Year 1.

18. Cincinnati Bengals – JC Latham, OT, Alabama

Massive offensive tackles are always welcome in Cincinnati, which added the 6-8, 370-pound Trent Brown to step in at right tackle opposite Orlando Brown Jr., who measures 6-8 and 345 pounds. The former, however, looks like a short-term solution, while the 6-6, 342-pound Latham could be a fixture for the franchise.

19. Los Angeles Rams – Jared Verse, DE, Florida State

No point in trying to replace the retired Aaron Donald in a one-for-one fashion, as recreating the three-time Defensive Player of the Year’s singular presence is impossible. The Rams, however, will have to bolster their pass rush in the aggregate. Verse seems like a smart starting point, as his relentless approach would help Matthew Stafford and Co. maximize the franchise’s current competitive window.

20. Pittsburgh Steelers – Jackson Powers-Johnson, C, Oregon

Even after blowing up its outlook behind center, Mike Tomlin’s crew still has lingering offensive question marks on offense, particularly at wide receiver and offensive tackle. But center also stands out as a problem area, and Powers-Johnson gives off plenty of Steelers vibes with his punishing approach.

21. Miami Dolphins – Graham Barton, G/C, Duke

The cap-strapped Dolphins surely steeled themselves for the loss of Robert Hunt to the Panthers, but there’s nevertheless a sizable hole on Miami’s offensive front. A steady and savvy left tackle at Duke, Barton has widely been projected to move inside at the next level. He should make for a quick study in Mike McDaniel’s scheme as a likely Day 1 starter at guard.

22. Philadelphia Eagles – Cooper DeJean, CB, Iowa

Bringing back Chauncey Gardner-Johnson was a fine first step to help an aging secondary that needs to be reinvigorated. With DeJean, Philadelphia would have another versatile defensive piece who could handle some crucial coverage assignments early before eventually taking over as a full-time starter on the outside.

23. Cardinals (proposed trade from Cleveland Browns via Houston Texans and Vikings) – Byron Murphy II, DT, Texas

Improving a lackluster interior pass rush typically comes at great cost, whether that’s in the draft or free agency. Luckily for Jonathan Gannon and Co., the most disruptive force at the position is available for the taking with the second first-rounder from the hypothetical Vikings trade. Gannon said at the combine he was looking for ‘game wreckers,’ and Murphy has demonstrated he certainly qualifies as just that.

24. Dallas Cowboys – Tyler Guyton, OT, Oklahoma

Mike McCarthy said Tuesday that Dallas intends to keep Tyler Smith at left guard, signaling that the Cowboys’ preference for reconfiguring their offensive line would be to look elsewhere for Tyron Smith’s replacement at left tackle. A former H-back, Guyton could entice Jerry Jones with his rare movement ability and 6-8, 322-pound frame, even though he’d be somewhat of a project for a team in need of immediate assistance up front.

25. Green Bay Packers – Jordan Morgan, OT, Arizona

At 6-5 and 311 pounds, Morgan doesn’t offer the same hulking presence that some of the other second-tier offensive tackle prospects in this class do. For Green Bay, however, he might make for a fine successor to David Bakhtiari at left tackle, or he could slide in as a promising prospect at guard.

26. Tampa Bay Buccaneers – Laiatu Latu, DE/OLB, UCLA

In moving aggressively to re-sign Baker Mayfield and Mike Evans and apply the franchise tag to Antoine Winfield Jr., the Buccaneers made clear they have no intention of taking a step back after they surprised many with their third consecutive NFC South crown. As the most polished and steady pass rusher in this class, Latu can help the team win now by stepping in opposite YaYa Diaby to give Tampa Bay a promising pair of young players on the edge.

27. Cardinals (from Texans) – Nate Wiggins, CB, Clemson

Not a bad way to round out a trio of first-rounders. Woefully undermanned on the back end, Arizona no doubt would stand to benefit from adding Wiggins, a hyperathletic coverage presence with the frame (6-1, 173 pounds) and speed (4.26 seconds in the 40-yard dash) to stick with any receiver – so long as he bulks up.

28. Buffalo Bills – Adonai Mitchell, WR, Texas

Amid some painful farewells made necessary by a tough cap situation, Buffalo did well to replace Gabe Davis with the more cost-effective Curtis Samuel. Yet given the importance of ramping up the explosiveness around Josh Allen – and possibly preparing for a post-Stefon Diggs future at some point soon – the dynamic Mitchell would be an attractive option if he makes it this far.

29. Detroit Lions – Kool-Aid McKinstry, CB, Alabama

Though the secondary briefly looked stable, cornerback Cam Sutton’s release following an alleged domestic violence incident sparked further uncertainty for Detroit’s defense. With his even-keeled approach, McKinstry makes for a fine plug-and-play cornerback for a group itching to take the next step as an NFC contender.

30. Baltimore Ravens – Amarius Mims, OT, Georgia

The offseason defections were to be expected, but Baltimore was still left with a number of holes and limited resources for patching them. If the Ravens were able to secure the massive Mims (6-8, 340 pounds), it would have an answer at right tackle after the trade of Morgan Moses − and potentially a contingency plan at left tackle if Ronnie Stanley can’t shake his injury woes.

31. San Francisco 49ers – Chop Robinson, DE, Penn State

With enviable athleticism an explosive first step, Robinson is the kind of edge rusher whom coaches can’t wait to bring along. Pairing him with highly regarded 49ers defensive line coach Kris Kocurek could yield a massive payoff for both the player and team.

32. Kansas City Chiefs – Ladd McConkey, WR, Georgia

A left tackle to safeguard Patrick Mahomes seems like the top priority, but the run on blockers significantly depleted the potential options here. Instead, Mahomes gets one more weapon after the Marquise Brown signing, with McConkey figuring to see plenty of early action as an intermediate target who can shake coverage quickly and keep the offense moving.

This post appeared first on USA TODAY

‘I’ve torn my ACL. It’s a reality I’m still struggling with,’ Purce, 28, wrote in a statement posted to social media on Wednesday. ‘I’m heartbroken to no longer be available for my season with Gotham or for Olympic selection with the USWNT.’

Purce, who was named the championship game MVP after leading NJ/NY Gotham FC to a 2023 NWSL title, suffered the injury during Gotham’s season-opener against the Portland Thorns on Sunday. She went down during first half stoppage time after battling for the ball with the Thorns’ Sophia Smith. Purce instantly grabbed her left knee and said ‘I’m out,’ before limping off the field.

Purce expressed gratitude to everyone who has showed support following her season-ending injury and promised to do ‘everything I can to get back on the field.’

‘I am so blessed. Since my last game, so many friends, teammates and even players I’ve only ever competed against, took the time to extend their supports, concern and love,’ she wrote. ‘Your messages have meant so much to me throughout this process, you have consoled what, for a moment, felt inconsolable. Thank you for reminding me that our football world is not only full with incredible talent but also, incredible kindness.’ 

Purce played her first match for the USWNT as a defender in November 2019. She was called up as a forward two years later and helped the U.S. win the SheBelieves Cup in 2021, 2022 and 2023. Purce reportedly was being considered for the USWNT’s 2023 World Cup team, but suffered a torn quad in April.

She was part of the USWNT team that won the 2024 Concacaf W Gold Cup in February. In total, she has made 30 appearances for the national team and has scored four goals with five assists.

Purce missed most of the 2023 NWSL league with the quad injury, but was instrumental in Gotham’s championship playoff run. Purce assisted both goals in Gotham’s 2-1 win over OL Reign, now called Seattle Reign FC.

This post appeared first on USA TODAY

Full disclosure: While there are many ways to view the following, this article will deliberately view the matter from a bearish angle.

While some investors look to KRE—the SPDR S&P Regional Banking ETF—as a possible “long” prospect, especially once the Fed begins cutting rates, it’s essential to consider the bearish case, which opens up opportunities on the short side.

According to Bloomberg’s dire February bombshell, investors seem to ignore the “brutal reality” of delinquencies in the commercial real estate (CRE) market. Consider this:

Regional bank exposure to CRE is up to an alarming 28.7%, compared to a mere 6.5% held by large banks (according to JPMorgan).The CRE market is a whopping $5.7 trillion, with regional bank portfolios making up 54% of loans.According to the National Bureau of Economic Research (NBER), an estimated 385 regional banks may experience failure if CRE loan defaults persist at the current rates.

The Technical Picture: Bullish Recovery or Lehman Moment?

KRE’s recovery began as soon as the Fed stepped in to put out fires in last year’s banking crisis using its Bank Term Funding Program (which expired on March 11). KRE’s dismal performance against the S&P 500 and the broader Dow Jones U.S. Banks Index ($DJUSBK) reflects the dire situation that regional banks face due to their CRE exposure (see chart below).

CHART 1. WEEKLY CHART OF KRE. Note KRE’s underperformance against the S&P 500 and the Dow Jones U.S. Banks Index.Chart source: StockCharts.com. For educational purposes.

The Near-Term Perspective

KRE’s price is rising within an uptrend channel (see black dotted lines in the daily chart below), but the momentum appears weak.

The falling On Balance Volume (OBV) line indicates that negative volume has exceeded positive volume. The Chaikin Money Flow (CMF) has fallen below the zero line, indicating that selling pressure has carved a hollow space beneath the foundation of KRE’s rise.

CHART 2. DAILY CHART OF KRE. While KRE’s rise within a trend channel might look like a steady yet guarded recovery since its most recent drop, if you examine momentum indicators, they reveal intensifying selling pressure, which could hold back bullish momentum.Chart source: StockCharts.com. For educational purposes.

If you want to go short, you’re waiting for the price to pierce the bottom of the channel (see blue circle) before entering a short. If you go short, three targets should be immediately clear (stop loss should be placed at the top of the channel):

Target 1. The most recent swing low of $45.31Target 2. Previous resistance at $44.75 (which may become support)Target 3. Previous resistance at $43.50

These levels don’t reflect the grim fundamental readings should the ultra-bearish predictions unfold. They represent the lower-hanging fruit ideal for a bearish swing trade. Should the sub-sector unfold like the ultra-bears envision, then you would look to the weekly chart to plot your target based on longer-term support or resistance levels. KRE’s chart isn’t there yet, so sticking with the easy target is better.

The Bottom Line

The case of KRE may (or may not) be a glaring testament to the folly of mainstream optimism. With the Fed playing puppet master and investors turning a blind eye to the looming catastrophe in commercial real estate (CRE) delinquencies, the scenario seems ripe for a reckoning. If the alarmist bears are correct, then those betting on a bullish resurgence are playing with fire.

The actual play here may be on the short side. If a systemic crisis unfolds as the ultra-bearish forecast, positioning yourself on the right side of the market means leveraging the crushing force of the trend rather than becoming its victim.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Summary

The Relative Rotation Graph for US Sectors for this week mainly shows a continuation of the rotations as they were underway last week.

XLB : Moving from lagging into improving at a strong RRG-Heading, underscoring the building up of relative strength for this sector.

XLC : Stable inside the leading quadrant on a short tail.

XLE : Adding a long new segment to the tail, pushing it further into the improving quadrant at the highest JdK RS-Momentum reading in the universe.

XLF : Inside the weakening quadrant but at a very short tail, indicating a stable relative uptrend that is going through a pause.

XLI : Pushing into the leading quadrant now at a strong RRG-Heading while moving away from the center (benchmark) of the chart. This suggests an improvement in relative strength.

XLK : This week, the tail is accelerating at a negative RRG, heading toward the lagging quadrant, urging (more) caution in the tech sector.

XLP : Remains stable, just above 100 on the JdK RS-Momentum scale on the left side of the RRG. Relative strength slowly drifting lower.

XLRE : The raw RS-line dropped below horizontal support, which will likely ignite a new acceleration lower, pushing the XLRE tail deeper into the lagging quadrant.

XLU : The tail picked up some relative momentum this week but no relative strength yet. This suggests it is more of a temporary move. This makes sense, as XLU has the lowest RS-Ratio reading in the universe.

XLV : The tail is crossing back into the lagging quadrant from improving. With the raw RS-Line dropping below horizontal support, more relative weakness is expected, pushing XLRE further into lagging.

XLY : Starting to improve slowly while inside the lagging quadrant. Not at a positive RRG-Heading yet

Discretionary beating Staples

One interesting observation that can be made from the RRG above is the Consumer Staples sector (XLP) slowly rotating out of favor while the Consumer Discretionary sector has started to pick up relative momentum inside the lagging quadrant and has now started to move back up.

When we zoom in on that relationship, using a daily RRG, it becomes visible that this rotation is now getting traction.

Let’s just say that discretionary beating staples in relative terms is NOT a characteristic of a bear market.

Sectors Pushing Against Major Resistance Levels

Another thing that caught my eye is that many sectors are pushing against or nearing major resistance levels. Including defensive sectors like Staples and Utilities, Healthcare has already broken higher.

It ain’t over until its over. When these sectors convincingly break their overhead resistance levels, they will likely provide new fuel to power the rally even further.

#StayAlert, –Julius

In this edition of StockCharts TV‘s The Final Bar, guest David Hunter of Contrarian Macro Advisors shares his updated target for the S&P 500, and makes the case for a bullish melt-up phase for stocks, bonds, and gold. Dave Keller focuses in on the relative performance of defensive sectors, bearish candles for NVDA, and one group within the energy sector showing new signs of strength.

This video originally premiered on March 27, 2024. Watch on our dedicated Final Bar page on StockCharts TV!

New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

Today’s stock market action uncovered some unusual activity. While the broader stock market indexes rose—the S&P 500 hit a record close, and the  Dow Jones Industrial Average snapped a three-day losing streak—it was interesting that Communication Services and Technology were the worst-performing S&P 500 sectors.

The Sector Summary below shows that all 11 S&P 500 sectors were green at the close on Wednesday. However, Utilities, Real Estate, and Industrials were the top three leading sectors. One day doesn’t make a trend; however, if it continues, it would indicate that investors are getting more comfortable with the overall market and are not afraid to diversify their investments among different asset types.

CHART 1. SECTOR SUMMARY FOR WEDNESDAY, MARCH 27. All S&P 500 sectors are positive, but Communications Services and Technology fell to the bottom.Chart source: StockCharts.com. For educational purposes.

A Broad Rally

If you run the New All-Time Highs scan, one of the scans in the StockCharts Sample Scan Library, there were over 40 stocks and exchange-traded funds representing different sectors and market caps. The S&P 500 Equal-Weighted Index ($SPXEW) closed higher (see chart below), confirming that Wednesday’s rally was broad.

CHART 2. THE S&P 500 EQUAL WEIGHTED INDEX CLOSES HIGHER.

Keep an eye on this chart to see if $SPXEW continues to trend up. When comparing the performance of $SPXEW to the S&P 500 ($SPXEW:$SPX), which is displayed in the bottom panel, it’s clear $SPXEW is still underperforming the S&P 500 by a wide margin, but $SPXEW is starting to turn higher. If it continues in that direction, there could be increasing market participation from investors.

Small- and mid-caps also saw strong breadth. The S&P 600 Small Cap Index ($SML) closed higher and shows strong market breadth (see chart below).

CHART 3. S&P 600 SMALL CAP INDEX CLOSES HIGHER. A breakout above the December 2023 high could be an indication of further strength in small-cap stocks. Market breadth in small caps is also strong.Chart source: StockCharts.com. For educational purposes.

The percentage of S&P 600 stocks trading above their 200-day moving average is almost 70%, with advancers far greater than declines. If you brought up a chart of the S&P 400 Mid Cap Index ($MID), you’ll see it hit an all-time high with market breadth similar to that of $SML.

Gold Soars

Another area not to ignore is gold. Gold prices have been on a tear. The monthly chart of gold futures ($GOLD) below shows that gold’s price has broken above its trading range and is now above $2212 per ounce.

CHART 4. GOLD PRICES SURGE. This could be a short-term rally, but gold prices could rise much higher if there is momentum. Chart source: StockCharts.com. For educational purposes.

Gold continues to hit new highs, which is interesting because investors usually turn to gold as a hedge. But why hedge when inflation is cooling? It’s hard to say. Perhaps gold traders felt left behind and thought it was time to get in the spotlight. So, it may be a short-term rally, but if the momentum remains, you could take advantage of the rally by investing in an ETF like GLD.

Meme Stock Craze

Gold traders aren’t the only ones who are feeling left out. Some elements of meme stock mania show its presence in the stock market. Two stocks that have gained significant investor attention after a few days of trading are Reddit (RDDT) and Truth Social (DJT).

Is this a sign that investors are comfortable with where the stock market is now and are looking to make quick gains? It’s possible that we could see more investor participation as investors become more complacent. But this type of manic action can also signify a market reaching its peak. This doesn’t mean there’ll be a stock market crash. It does mean, though, that when there’s a shift in investor sentiment, it’s time to have your antennas up.

The Bottom Line

While a broad market rally is encouraging, it doesn’t mean you should get complacent. Trade with a risk management strategy and closely monitor the different sectors and asset classes. Seeing a big-picture view of the stock market enables you to navigate the stock market strategically so that you can see your investment returns grow.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your personal and financial situation or consulting a financial professional.

The rate at which home prices grow is slowing down.

U.S. home prices increased 0.6% from a month before in February, in line with the 0.6% average monthly gain in the roughly eight years leading up to the Covid-19 pandemic, according to a new Redfin analysis.

Before the pandemic, it was normal for prices to grow about half a percent every month, or to increase around 5% or 6% annually, said Daryl Fairweather, the chief economist at Redfin.

“We’re back to that trend, despite these higher mortgage rates,” she said.

“Home prices are appreciating at the same pace as before,” he said. “It’s returned to the trend that we saw pre-pandemic.”

However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand.

“The sentiment we’re getting from our agents is that neither sellers nor buyers are satisfied with this market,” Fairweather said. “Sellers are dissatisfied … with offers that they’re getting. And buyers are disappointed in rising prices and rising mortgage rates.”

Levels of transactions are at ‘recessionary lows’ 

While the housing market has stabilized in terms of price growth, a major difference between the market today and the pre-pandemic period is the relatively low number of transactions, which is largely due to high mortgage rates, said Fairweather. Mortgage rates peaked at nearly 8% last year, but are still over 6%, according to Freddie Mac data.

In fact, the level of transactions are at “recessionary lows” despite “a pop in the data in February,” Walsh said.

Another factor affecting sales is the extremely limited supply of homes, he added.

New listings climbed 5% during the last four weeks ended March 17, the biggest year-over-year jump since May 2023, Redfin found. But “it’s like a small recovery from a rock bottom,” said Fairweather.

“We’re not back to where we were pre-pandemic,” she said.

Supply growth is mostly tied to a seasonal trend, economists say. Owners often list their homes for sale in February because they prefer to move in the spring and summertime, Walsh said.

And sometimes, life happens. “Another factor is just people needing to move for either a new job or they’re getting married, or there’s some other big life event,” Fairweather said.

The rate lock-in effect is loosening its grip

The mortgage rate lock-in effect, also known as the golden handcuff effect, kept homeowners with extremely low mortgage rates from listing their homes last year: They didn’t want to finance a new home at a much higher interest rate. Now, that is loosening its grip on the market and slightly boosting available supply, economists say.

“It was definitely keeping people in place, but the more time that passes, the less strong that effect becomes,” Fairweather said.

Some buyers who had put off listing their homes “are coming to terms with higher mortgage rates,” because they feel they can no longer postpone the move, Walsh explained.

While the rate lock-in effect is still playing a role in today’s low inventory, it will fade further over time, especially as the Federal Reserve decides to cut rates later this year, Fairweather said.

Mortgage rates are also forecast to modestly decline this year as the Fed trims interest rates, while home prices are likely to remain flat or unchanged nationally, Walsh said.

This post appeared first on NBC NEWS