QQQ and tech stocks took a breather this week, but the Consumer Discretionary sector, Housing and Retail picked up the slack. SPY and IWM were down fractionally, while QQQ fell around 1.5% on the week. Today’s video starts with a new signal in the S&P 500 breadth model. Despite this signal, the medium-term uptrend remains the main focus and we will cover the key indicators. The triangle, flag and Bollinger Band breakouts highlighted over the last few weeks are holding and we will identify key levels to watch going forward. The 20+ Yr Treasury Bond ETF and Gold SPDR continued higher with the latter surging. Yield spreads narrowed even further this week and the bond market shows little signs of stress.
-Arthur Hill, CMT
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