The US dollar remains the undisputed center of the global financial system, driving capital flows and shaping economic outcomes far beyond the United States. Its persistent strength has heightened pressure on global markets, raising debt burdens and fueling volatility across the world. As the dollar approaches key technical inflection points, the stage may be set for improved performance across global markets.
Shares of Costco Wholesale Corp (COST) continue to weaken within the SIA S&P 100 Index Report, currently sitting in the red unfavored zone at spot #80, despite a relatively low 6.35% standard deviation. Performance has deteriorated further with COST down 5.61% year-to-date and 12.35% over the past six months, while relative strength has also broken down versus cash, contributing to a SMAX score of 0 out of 10. From a technical perspective, the stock has failed at all-time highs and has since slipped back into the unfavored zone, with key support levels now identified well below current prices.
Recent technical action in the SIA Electronics and Semiconductor Equal Weight Index suggests the sector remains vulnerable, with mixed point-and-figure signals and meaningful downside risk should key support levels fail. NVIDIA’s move into the SIA neutral zone, combined with a declining SMAX score, signals emerging relative weakness in what has been a leading stock within the sector. From a risk-reward perspective, upside appears increasingly constrained by resistance while downside support levels sit materially lower.
Shares of The Trade Desk (TTD) have sharply underperformed in 2025, falling to the bottom of the SIA NASDAQ 100 Index Report and breaking key support in the $40–$44 range. This underperformance is compounded by weakening sector readings and a SMAX score of 0/10, signaling that TTD is lagging behind cash, bonds, equities, commodities, and currencies.
Freeport-McMoRan (FCX) is a leading global copper producer with major mines in the Americas and Indonesia, supplying over 4 billion pounds of copper annually. The company holds full Copper Mark certification at eligible sites, reflecting responsible production practices. FCX’s stock historically tracks copper prices, with key resistance identified at $46.64 and $53.99, a move beyond which could have implications discussed further in the report.
In today’s Daily Stock Report, we are going to highlight JP Morgan Chase which has exhibited notable relative strength compared to the broader US Market. In our last report on JPM on August 14, 2024, the shares were at $207.94 while today the shares are at $300.51 representing a 44% increase since then.
Netflix serves as a powerful example of why relative strength matters, as SIA practitioners captured the stock near the post-split $50 level and rode its leadership all the way to $130 while it remained in the SIA favored zone for more than two years. Even as fundamentals shifted and the stock began to lag the market, declining relative strength signaled the change early, giving advisors the objective data needed to rotate into stronger opportunities. This transition from leadership to underperformance highlights how relative strength provides a disciplined, real-time framework for staying with winners and stepping aside when the evidence turns.
The Drug sector category has recently seen some early strength of late. As such, in today’s edition of the Daily Stock report, we are going to analyze the Drug name Bristol-Myers Squibb Co. (BMY) to see if the shares are also participating in the overall sector’s early strength. Over the past month, BMY has moved up 13 positions, and it has gained 7 positions over the quarter.
The Dow Theory reminds us that trends in the Transportation sector often signal broader market direction, making it a key area to watch amid current volatility. Recent strength in Transportation, highlighted by improvements in relative strength scores, raises the question of whether this reflects true demand or is driven by disruptions and higher freight rates from international shipping incidents. Within this sector, ZIM stands out as a leader, combining strong technical attributes with a flexible global shipping network that spans major trade routes.
The current divergence between U.S. and Japanese interest-rate expectations is reshaping global capital flows in ways advisors should be monitoring closely. After years of ultra-low rates, Japan has begun gradually tightening policy to curb inflationary pressures; pressures amplified by a historically weak yen and the country’s reliance on imported commodities.
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