The S&P and Nasdaq are well on their way to shaping the right-hand side of bases coming off 2021 highs. There is still a chance these bases can fail, but until I next post, I expect these rallies to continue on weekly timeframes.
It remains a little more sketchy for the Russell 2000 (IWM), but the convergence of moving averages as support on the weekly time frame should provide the necessary support to help it advance above $195.Maybe by my return in July, it will have done so?
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