In today’s briefing:
- More Long-Term Breakouts in Energy, Utilities, Gold Miners; Bullish Outlook Intact
More Long-Term Breakouts in Energy, Utilities, Gold Miners; Bullish Outlook Intact
- We remain bullish on the S&P 500 and Nasdaq 100 (QQQ), as they both refuse to close below their 20-day MAs or 21-day EMAs for more than 2-3 consecutive days.
- Once we do get 2-3 closes below the 20-day MAs on SPX and QQQ, it would mark the beginning of a pullback (a potentially rapid one, at that)
- Next supports currently at 4983-5050 on the S&P 500 and $425-$433 on QQQ (gap supports from 2/22/24), but anything in the 4800-4930 SPX range is a buyable pullback.
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