Technology Is Leading The Market Higher

The Short-Term Trend

The short-term uptrend continues. The major indexes didn't move much today, but breadth was healthy and encouraging for the bulls.

The bullish percents moved up very nicely. This is what you want to see in a market advance.

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Net new highs/ new lows are also looking really good. Very bullish looking.

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I am still concerned about this packaging index. This is a bearish chart with the 20-day under the 50-day, and the 50-day under the 200-day. Not good action. This chart says don't get over confident about the market.

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In my opinion, this is the chart that is pushing Technology higher, and it is Technology that is leading the market higher. If these yields push up above resistance again, then what happens?

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Rates

What is this spreadsheet telling us? I see lot's of red, which means that these ETFs are all becoming relatively weaker compared to ETFs holding stocks.

The fixed income portion of my accounts are 100% T-Bills (BIL). None of the other ETFs listed below appeal to me at the moment.
 

Outlook Summary:

The long-term outlook is cautious.
The medium-term trend is up as of May-10. 
The short-term trend is up as of May-7. It was a mistake to think that a short-term downtrend had started May-29. 

The medium-term trend for bond prices is up as May-29.