Argus

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Mar 30, 2026

Intermediate Term

Long Term

Summary

Last week was another tough time for the mega-cap indices, and key technical supports are getting chopped up like dry wood. The S&P 500 (SPX) fell 2.1% and has declined for five consecutive weeks, with the damage at almost 8%. Most of the decline has occurred in those past five weeks, as the index is off 8.7% from its January 27 all-time closing high (ATH).  The rounding or rolling top we have talked about was confirmed last week, as the low of the range from November 21 was taken out. The SPX also lost its important 50-week simple average, and we saw a bearish 10- and 21-week exponential moving average (EMA) crossover. The next cluster of support sits in the 6,100-6,182 region. It represents the top of the last breakout region as well as an initial 38.2% retracement of the rally from April 2025 until the recent peak. In addition, the flattening 21-month EMA lies at 6,182. Still, there wasn't a complete washout as the S&P MidCap 400 managed to rise 0.4% and the S&P SmallCap 600 tacked on 1.1%.   Year to date, both the Nasdaq and the S&P 100 are down about 10%, while the Nasdaq 100 has given back 8.4%. All three indices entered minor correction territory last week, with losses from their October 29, 2025, ATHs ranging from 11% to 12.6%. Those also are the bigges

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Weekly Stock List

Mar 30, 2026

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VIAV, AMAT, HLF, HP, CLS, CIEN, CRWV, GLW, JBL, STX, TPR, W, WDC, AMD, LRCX, WBD, FLEX, DELL, AA, KLAC, DINO, MU, PWR, TSM, APA, ELAN, INTC, ALB, CAT, GEV, HOOD

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Mar 27, 2026

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EL

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Mar 27, 2026

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ENPH

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