Sector Weightings reviewed;  Energy likely to fall further as OPEC+ plans to restore output in April

In this 7-minute video, Mark L. Newton, CMT reviews his sector weightings for early March 2025 and frames them against the recent two-week pullback in U.S. equities. He walks through the technical setup for the S&P 500 Index and Invesco QQQ Trust (QQQ), including key support zones, breadth trends, and the behavior of large-cap Technology and Semiconductor names such as Nvidia (NVDA). Newton also discusses how tariff headlines around an early-March “Tariff Tuesday,” Treasury yields, and U.S. dollar weakness factor into his short-term equity and macro view.

Newton then turns to sector-level implications, focusing on Energy, Utilities, and Materials. He examines how the planned OPEC+ production restoration in April intersects with the charts of Energy ETFs such as Energy Select Sector SPDR Fund (XLE), VanEck Oil Services ETF (OIH), and SPDR S&P Oil & Gas Exploration & Production ETF (XOP), and contrasts that with Natural Gas pricing trends. The video also covers why Utilities and Materials have shifted in his technical sector pecking order, including equal-weight sector performance (e.g., RSPU, RSPM versus RSP), and how this fits within his broader sector allocation table alongside Tom Lee’s framework. Full charts and the detailed sector allocation grid are available in the accompanying report.

In this 7-minute video, Mark L. Newton, CMT reviews his sector weightings for early March 2025 and frames them against the recent two-week pullback in U.S. equities. He walks through the technical setup for the S&P 500 Index and Invesco QQQ Trust (QQQ), including key support zones, breadth trends, and the behavior of large-cap Technology and Semiconductor names such as Nvidia (NVDA). Newton also discusses how tariff headlines around an early-March “Tariff Tuesday,” Treasury yields, and U.S. dollar weakness factor into his short-term equity and macro view.

Newton then turns to sector-level implications, focusing on Energy, Utilities, and Materials. He examines how the planned OPEC+ production restoration in April intersects with the charts of Energy ETFs such as Energy Select Sector SPDR Fund (XLE), VanEck Oil Services ETF (OIH), and SPDR S&P Oil & Gas Exploration & Production ETF (XOP), and contrasts that with Natural Gas pricing trends. The video also covers why Utilities and Materials have shifted in his technical sector pecking order, including equal-weight sector performance (e.g., RSPU, RSPM versus RSP), and how this fits within his broader sector allocation table alongside Tom Lee’s framework. Full charts and the detailed sector allocation grid are available in the accompanying report.

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