Name: “There Is NO Evidence To Be Bearish Right Now” - Mark Newton
Uploaded: 2026-05-07T14:45:00+00:00
Duration: 2458 s

Speakers

Mark Newton — Managing Director and Head of Technical Strategy at Fundstrat Global Advisors

Summary

Mark Newton argues there is no bearish evidence for US equities, remaining constructive on the market despite recent fast rally. He expects a pullback but sees higher year-end targets. He is bearish on crude oil and energy, bullish on gold for one more leg up, and recommends buying agriculture stocks and Bitcoin on dips. He also favors Japan and emerging markets on a weaker dollar outlook.

Mark Newton is overall bullish on US equities, citing strong breadth and earnings.
He expects a near-term 3-5% pullback but maintains a positive year-end view.
Crude oil has topped technically; he expects a decline to $60.
Gold will rally to new all-time highs into fall but then face a major decline.
Agriculture and fertilizer stocks like Bunge and CF Industries are buyable on dips.
Bitcoin lows are likely in; a pullback to the low $70k range offers a buying opportunity.
He favors Japan and emerging markets as dollar weakness plays.
Sentiment remains guarded despite the rally, supporting the bull case.

Ideas

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 0:02

No evidence to be bearish, stay long

The US equity market has strong breadth improvement, robust earnings, and no evidence to justify turning bearish. Despite recent fast rally and potential near-term consolidation, the trend is bullish and the market should end the year higher.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 10:05

Overweight tech, buy pullbacks

Technology, especially MAG7 and semiconductors, has rallied strongly and earnings and AI capex support further gains, though a near-term 3-5% pullback is likely. He recently went back to overweight tech and advises buying weakness.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 16:40

Crude oil peaked, bearish outlook

Crude oil has peaked technically; momentum is negative, trendlines broken, and a break below $79 WTI could lead to a rapid decline to $60. Energy stocks are likely to underperform, and seasonality turns negative.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 19:05

Buy agricultural stocks on dips

Agriculture and fertilizer stocks are attractive on dips; grains cycles point higher for the year, and pullbacks in Bunge (BG) and CF Industries (CF) should be bought for diversification and decent returns.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 24:37

Bitcoin buy on pullback to 70k

Bitcoin is unlikely to make new lows for 2026; a pullback to the low $70k area offers a good risk-reward buying opportunity. He now believes the lows are in and recommends using dips to add exposure.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 35:47

Emerging markets long on weak dollar

Emerging markets make sense as a trade given the dollar is likely to pull back to new lows, which should fuel EM performance. However, he cautions about concentration in certain country ETFs.

Mark Newton Managing Director and Head of Technical Strategy at Fundstrat Global Advisors 36:12

Long Japan equities on dollar weakness

Japan equities are attractive for diversification given expected US dollar weakness. He likes the Japanese market as a way to play a weaker dollar and positive macro trends.

“There Is NO Evidence To Be Bearish Right Now” - Mark Newton

Summary

Ideas

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