Large Cap Growth $IWF has stepped down on the rankings as Large Cap Value $IWD has climbed to the top.
Clearly, equity markets have sold off rather aggressively in recent weeks.
The S&P 500 $SPY has made new lows and is now retesting the final level in the sand at the 161.8% Fibonacci extension level. If the S&P 500 loses 560, the risk in owning equities over longer time periods significantly rises.
The area that's been hit the hardest has been crypto. The average token is now in its second 60% drawdown of the last 12 months. And the majors are not fairing much better.
The bottom line, according to Strazza, is the two best crypto vehicles are currently sporting all the classic characteristics of fresh downtrends.
