Cup-with-handle on SPY – New Highs in XLI, XLF, XLB – Key Levels for MAGS, XLK, QQQ
The weight of the evidence remains bullish for stocks. SPY hit a new high in late December and remains near this high. 62% of S&P 500 stocks are above their 200-day SMAs, which is the vast majority. This also means that 38%