Market-ETF Report – Large-caps Lead – New Highs in XLI and ITA – Utes Extend on Breakout
The bullish evidence continues to build, but the long-term breadth indicators have yet to turn net bullish. SPY and QQQ showed signs of capitulation in early April and rebounded into mid April. A Zweig Breadth Thrust triggered on April 24th and several other thrust indicators turned bullish in May. We also saw SPY, QQQ and RSP break their 200-day SMAs. These are bullish indications for large-caps and, perhaps
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