Financial Sense Newshour Caution from John Roque: Market Internals Breaking Down
Mar 27, 2026
John Roque, head of technical analysis at 22V Research, offers market-internals perspective. He breaks down weakening breadth, rising Treasury yields, and why big-cap tech is faltering versus the broader market. He flags oil and energy leadership, cautions about geopolitical-driven machine selling, and recommends holding cash until clearer market signals emerge.
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Market Internals Are Signaling Weakness
- Market internals are deteriorating as cumulative breadth and net new highs turn negative on the NYSE and NASDAQ.
- John Roque warns new lows now outnumber new highs, making long-side gains exceedingly difficult even for skilled stock pickers.
Reduce Exposure During Headline Volatility
- Reduce exposure and keep positions light while headline-driven moves and machine-driven trading amplify intraday volatility.
- John Roque recommends lowering risk because prices can swing quickly from open through late-day sessions, making big intraday losses more likely.
Yield Moves Are Homogeneous Across Major Economies
- Global G7 yields are moving up together and Roque expects short- and long-end yields to rise homogeneously.
- He targets the two-year Treasury at 5% and says other parts of the curve will move close to that level.