Here is a chart of more components of the US stock market from an NFTRH update last week. It is untouched from that update other than its own progress, time and price wise. At the time SPX was still below key resistance at 2065. Dow and RUT had snuck out of their trend line and Diamond (consolidation) top, respectively.
I took a teeny loss on a short against the SPX as soon as it too crept above resistance, for now letting longs (US, Europe and China) ride unattended. Cash as usual for conservative old me, is substantial.
Who knows how long the rally will last (SOX does have that 750 target), but this thing started turning bullish last week, even as it reversed downward at the end of day on Friday. We noted it in NFTRH. It’s important in this market to separate what you think should be and what is, especially with sentiment flying all over the place, the media micro managing every twist and those Fed Jawbones always in play.
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