In today’s briefing:
- Long-Term Breakouts for Emerging and Frontier Markets; Treasury Yields and Commodities Rising YTD
Long-Term Breakouts for Emerging and Frontier Markets; Treasury Yields and Commodities Rising YTD
- The bullish outlook we initiated in early November 2023 remains intact. The SPX and QQQ still refuse to close below their 20-day MAs/21-day EMAs for more than 2-3 consecutive days.
- Even if/when they do, important supports are close by, including 4983-5050 on the S&P 500 and $425-$433 on QQQ (gap supports from 2/22/24). Anything above 4800 SPX is a buy.
- We continue to get an ever-increasing number of global indexes/Sectors with long-term breakouts, the latest being the MSCI Emerging Market and Frontier indexes. Clearly risk-on behavior.
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