Some Bullish Developments

some bullish developments

Watch the market update video.

This week I have recorded for you a short (9 min) video covering some bullish developments in the markets. Below, I have briefly summarized what I cover in the video:

Firstly, this:

Bullish price action on the QQQ NASDAQ

The QQQ is the ETF that tracks the NASDAQ. This is a BULLISH development for the NASDAQ, which has been providing market leadership since 2016. Secondly, I discuss the S&P 500 clearing a major resistance level last night. Watch the video to see how this should play out.

Thirdly, I take a look at the S&P 500 Advance-Decline line which is making new highs. This shows the current stock market rally is enjoying strong breadth.

Advance Decline Line making new highs

The video also breaks down what I’m seeing across all of the major sectors as well as oil and gold.