In today’s briefing:
- More Breakouts and Risk-On Developments; Monitoring Rotations: Miners, Retail, Lithium, China
More Breakouts and Risk-On Developments; Monitoring Rotations: Miners, Retail, Lithium, China
- 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).
- Short-Term supports on the SPX include the 20-day MA (currently 6233), 6200, 6100-6150, and 6028-6059, with additional supports at 5804-5854 and 5700-5785. Buy pullbacks to these areas.
- SPX has not closed below its 20-day MA for two months, but even when it does, all we would expect to happen is for a new, less-steep uptrend to form.
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