Russell 2000 Testing 1.5+ Year Resistance; Downgrading Communications; Steel Buys $NUE $STLD $ZEUS
Market remains in a "lockout rally" where prices continue to move higher with little-to-no pullbacks, while ignoring overbought readings -- as we...
Continue to Ride the Trend Higher; Buying Gold, Silver, Miners $GDX $GDXJ $GLD $SLV
New market-generated information continues to be risk-on, which has only reinforced our bullish outlook on the broad equity market. We still expect...
Consolidation Likely, But Little Reason to Be Bearish; Buys Within Biotech, Latin American Banks
$SPX is 1% above 4300-4325 which we anticipated would cap upside for 2023. Our view since May 30 (ETF Pathfinder) is we cannot be bearish if SPX is...
Russell 2000 (IWM) Testing $180 Resistance; Rising Treasury Yields & DXY To Become a Problem?
So far there has been little traction above $SPX 4200. Weak breadth remains an obvious problem. We are watching the $IWM which is testing $180; a...
Bear Market Rally Remains in Play; Russell 2000 (IWM) Short-Term Breakout; Buys in Banks & Insurance
A bear market rally (+10% from the lows) remains in play as long as the $SPX remains above its 200-week MA (3590-3600) and the $IWM remains above...
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