$S&P 500(.SPX)$ thoughts: Is it a melt-up? I don’t think yet.
I shared last week while conceding a bearish stance that it would be difficult to become wildly bullish without the risk-on category (small caps) participating.
This remains to be the case until $iShares Russell 2000 ETF(IWM)$ and $ARK Innovation ETF(ARKK)$ break out consistently trading above 212 and 52 respectively.
As for the index itself, there is plenty of room before bearish thoughts re-emerge from me. Closing below 5230 would be a start.
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Macro Trend
Monetary policy, various types of price indices... Here is everything about the macro economy!
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