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SPY and QQQ surged to new highs on Wednesday and continue to lead the market. Note that SPY and QQQ were the only major index ETFs to hit new highs this week. The S&P SmallCap 600 SPDR (IJR) tagged a
The weight of the evidence is bullish for the long-term, but the short-term evidence is turning quite mixed. SPX 4wk High-Low Percent plunged below -30% last week and fewer than 50% of Nasdaq 100 stocks are above their 50-day SMA.
The long-term indicators are still bullish, but I am seeing short-term deterioration under the surface. This is especially pronounced outside of large-cap tech (XLK, QQQ, MAGS, SOXX). SPY and QQQ are up over the last two months
The weight of the evidence remains bullish for stocks. SPY and QQQ hit new highs and continue to lead the market. The S&P 500 EW ETF (RSP) and Russell 2000 ETF (IWM) did not exceed their spring highs and continue
Traders can improve their odds by ignoring distraction signals and focusing on setups with real potential. In general, short timeframes are better suited for mean-reversion, while long timeframes
Nvidia (NVDA) released blowout results yet again and surged some 6.5% higher in after hours trading. This move is stoking the large-cap tech and AI trade. AMD (chips), HPE (data center), DELL (data center) and TSM (chip manufacturing) are all
Stocks remain strong with strength broadening. Even so, the old leaders are still the current leaders. The S&P 500 SPDR, Nasdaq 100 ETF and Technology SPDR hit new highs over the last few days. Large-caps and large-cap tech continue to
We are seeing a bullish setup in an ETF related to Bitcoin. As with IBIT, the long-term trend is up and a corrected unfold over the last few months. The pattern and retracement amount make this a classic correction. More
There is a certain ebb and flow in uptrends. Often we see some sort of stair step higher with big advances and smaller corrections along the way. In Dow Theory terms, the primary trend is up and declines within a
Stocks reacted positively to the CPI report and surged as Treasury yields fell, and TLT continued its May bounce. SPY and QQQ hit new highs on Wednesday. Also note that QQQ is leading the way since the mid April lows
SPY and QQQ remain at make or break levels and this week is key. Another push higher would likely show a short-term expansion in upside participation and add some legs to the current bounce. Failure to push higher at this
After sharp declines into mid April, stocks rebounded over the last three weeks and the S&P 500 SPDR (SPY) came within 1% of its March high. This March high acts
There is no change in the broader market situation. Short-term, SPY and QQQ are at their make or break levels for this oversold bounce. Why? Because the short-term breadth indicators have yet to show enough upside participation
SPY and QQQ are at their moment of truth for the current bounce. Stocks surged the last three days with SPY gaining 3.24% and QQQ advancing 4.44%. The current bounce started after oversold conditions in mid April. Over the last
Stocks fell sharply into late April and then rebounded over the last two weeks. SPY fell 5.34% from March 28th to April 19th and then rebounded with a 3.26% gain the last two weeks. Does this bounce have legs? Chartists
The Fed has come and gone, but earnings season remains in full swing and SPY is in corrective mode. This is not an ideal time for stock setups and signals. Volatility is above average and I prefer to avoid setups
Volatility is on the rise as we saw outsized declines into mid April and breaks below the 50-day SMAs for SPY and QQQ. Both rebounded the last six days and they are approaching the underside of their 50-day SMAs, which
Some 75% of stocks in the S&P 500 and Nasdaq 100 report earnings in the next three weeks. Ugh! META reported last night and the stock fell around 13% in after hours trading. Microsoft (MSFT) and Alphabet (GOOGL) report after
Stocks were hit with strong selling pressure in April, but the weight of the evidence remains bullish. This means the decline is viewed as a correction within a bigger uptrend. Most stock-based ETFs and stocks will remain under pressure as
Stocks were hit with strong selling pressure here in April. This selling pressure triggered outsized declines and bearish breadth thrusts. The uptrend, which began with the November breakout, has been derailed. Even so, the longer term indicators are still bullish