In today’s briefing:
- Magnificent Seven’s Turn to Shine; Buy Pullbacks to 3+ Month SPX Uptrend and 50-Day MA
Magnificent Seven’s Turn to Shine; Buy Pullbacks to 3+ Month SPX Uptrend and 50-Day MA
- We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
- SPX is pulling back after hitting all-time highs; the gap at 6750-6772 is short-term support, and it is a clear sign bulls remain in control if this gap remains unfilled.
- We will stay near-term bullish as long as the 3+ month uptrend continues (currently at ~6675). Additional supports include 6550-6569, 6480-6520, 6450, 6400-6410, 6340-6360, 6290, 6200, and 6100-6150
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